What Is FDVV? Fidelity High Dividend ETF

FDVV is the Fidelity High Dividend ETF, a low-cost fund that tracks the proprietary Fidelity High Dividend Index. It holds around 110 large- and mid-cap US companies selected for high and sustainable dividends, with the index tilting toward sectors that tend to pay more income while still allowing meaningful weight in growth stocks.

Launched in September 2016, FDVV was built to modernize the dividend-fund category. Rather than screening purely for the highest yielders, it balances income with quality and growth, which is why household technology names appear alongside banks, energy majors, and utilities. The expense ratio is a very low 0.15%.

Approximate weights as of mid-2026; refresh quarterly from Fidelity Investments's fund page. Each ticker links to its individual stock guide in Walnut.

FDVV's top holdings look different from a typical dividend fund. NVIDIA, Apple, and Microsoft sit at the top, followed by Broadcom, Dell, JPMorgan, Alphabet, Bank of America, Goldman Sachs, and Exxon Mobil. Technology is the largest sector at roughly 28%, ahead of financials, consumer, energy, utilities, and real estate.

That composition reflects the index's willingness to include large-cap growth companies that now pay dividends. The result is a fund that yields less than strict high-yield products but offers more exposure to the price appreciation of the market's biggest names, spreading risk across roughly 110 positions.

SCHD and VYM are the go-to dividend ETFs, both emphasizing value and dividend consistency at very low fees. They hold fewer high-growth tech names and generally yield more than FDVV, making them favorites of income-first investors. FDVV's 0.15% fee is competitive with both.

The key difference is tilt. FDVV keeps large weights in growth leaders like NVIDIA and Apple, so it typically yields less but carries more capital-appreciation potential and moves more with the broad market. Investors who want maximum yield often prefer SCHD or VYM, while those seeking a blend of income and growth may favor FDVV.

Because of its growth tilt, FDVV has tended to track closer to the broad market than pure high-yield funds, benefiting when large-cap technology leads. Its dividend stream provides a cushion, but its returns are more sensitive to the fortunes of mega-cap tech than a traditional dividend fund would be.

The outlook depends on whether large growth companies keep paying and raising dividends and how the market treats high-multiple stocks. In a broad rally led by technology, FDVV's tilt helps; in a rotation toward classic value and high yield, funds like SCHD may hold up better. Its low fee keeps costs from eroding returns either way.

FDVV suits investors who want dividend income but do not want to give up exposure to the market's leading growth companies. It can serve as a core dividend-and-growth holding, offering a middle path between pure income funds and total-market index funds. Its heavier tech weighting means it will move more with those stocks.

Walnut is not an investment adviser. We describe FDVV's holdings, structure, and how it compares with SCHD and VYM so you can judge whether it fits your goals and risk tolerance. The decision to buy, hold, or sell is yours, and a licensed professional can help if you want personalized guidance.

FDVV trades commission-free on Fidelity and is available on Robinhood, Schwab, Public, and most brokerages like any ETF. Brokers that support fractional shares let you invest a set dollar amount rather than buying whole shares, which helps when building a precise income allocation.

You can also connect your broker to Walnut to track FDVV inside a dividend or income-focused basket, monitor how its weight and yield shift over time, and see it in the context of your broader portfolio.

ETFs are passive bundles; thematic baskets in Walnut let you concentrate within them. If you hold FDVV as a core position, these are the themes you might layer on as satellites.

FDVV blends dividend income with a growth tilt at a rock-bottom 0.15% fee, undercutting most dividend peers. Its heavy tech weighting means a lower yield but more capital-appreciation potential than SCHD or VYM. A reasonable core dividend-growth holding.

Whether FDVV is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is FDVV a buy?

FDVV yields ~2.9% as of mid-2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see FDVV dividend: yield and schedule.