SPDV ETF Explained: Returns, Expense Ratio, Holdings, and Alternative ETFs
The AAM S&P 500 High Dividend Value ETF (SPDV) holds high-dividend, undervalued stocks within the S&P 500, spread across sectors. It gives investors seeking both dividends and a value strategy a reference point for assessing SPDV's share price and dividend outlook.
SubscribeWhat Is the AAM S&P 500 High Dividend Value ETF?
This is a dividend and value style ETF that uses a rules-based process to select S&P 500 constituents with high dividend yields and strong value characteristics. It allocates holdings across sectors so that the portfolio does not become concentrated in any single sector.
It suits investors who want to collect dividends and capture attractive valuations within US large caps while placing importance on sector diversification.
The ETF is managed passively (index tracking) by Advisors Asset Management.
How Does the AAM S&P 500 High Dividend Value ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | S&P 500 sub-index screened for dividends and value |
| Management Style | Passive (rules-based index tracking) |
| Rebalancing Frequency | Regular rebalancing |
| Dividend Frequency | Quarterly |
| Manager | Advisors Asset Management |
| Total Expense Ratio | 0.29% |
From the S&P 500 constituents, the fund selects stocks with high dividend yields and strong value metrics according to set rules. It then allocates holdings with sector balance in mind, which eases concentration in any single sector while capturing both dividend income and valuation appeal.
- Selection that combines dividend and value factors within the S&P 500
- Stock allocation that reflects sector diversification
AAM S&P 500 High Dividend Value ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) are $108.1M, and the total expense ratio is 0.29% per year.
Compared with CGDV, FVD, and WTV in the same dividend and value category, its selection rules and sector allocation method differ, so the makeup of its holdings can vary.
AAM S&P 500 High Dividend Value ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeAs a dividend and value style ETF, it tends to deliver relatively subdued performance when growth stocks lead the market and relatively resilient performance when value stocks come into favor. Short-term returns are influenced by the interest rate environment and sector rotation.
Demand for high-dividend and value strategies fluctuates with interest rates and market conditions. When rates fall, money tends to flow into dividend stocks, whereas interest may fade when growth stocks are in strong favor.
AAM S&P 500 High Dividend Value ETF Pros and Cons
Its strengths are the combination of dividends and value along with sector diversification, while its weakness is that it can lag when growth stocks lead the market.
💪 Key Strengths
⚠️ Points to Watch
AAM S&P 500 High Dividend Value ETF Alternatives and Related Products
CGDV, FVD, WTV, and others shown in the table are comparable products in the same dividend and value category, and they differ in approach, such as active management or dividend growth. Investors can also consider alternatives such as SCHD and VYM, which focus on dividend growth, and SPYD, which concentrates on high dividends themselves. Because their selection rules and sector allocation methods each differ, the character of their dividend and value exposure varies slightly.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 CGDV | Capital Group Dividend Value ETF | $49.14 | +0.6% | $38.8B | 0.33% | 1.23% | +13.7% |
 DFAT | U.S. Targeted Value Portfolio-ETF Class Shares | $69.43 | +0.1% | $14.3B | 0.29% | 1.34% | +19.1% |
 DFSV | US Small Cap Value Portfolio ETF Class Shares | $39.08 | +0.3% | $8.4B | 0.31% | 1.39% | +21.7% |
 FVD | First Trust Value Line Dividend Index Fund | $50.05 | -0.4% | $8.0B | 0.62% | 2.24% | +8.5% |
 WTV | WisdomTree U.S. Value Fund | $106.79 | -0.6% | $3.3B | 0.12% | 2% | +15.3% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| NTAP | Netapp Inc | 0.03% | $227.59 | +2.5% | $44.7B | 32.1 | 0.93% |
 APA | APA Corp | 0.05% | $50.81 | -1.6% | $17.8B | 10.8 | 1.98% |
 LYB | LyondellBasell Industries NV | 0.03% | $67.43 | +0.1% | $21.8B | - | 4.65% |
| HPQ | HP Inc | 0.03% | $33.58 | -1.5% | $30.3B | 12.8 | 3.57% |
| DVN | Devon Energy Corp | 0.02% | $51.23 | -0.8% | $56.4B | 12.1 | 2.25% |
| EOG | EOG Resources Inc | 0.02% | $161.10 | -1.6% | $84.5B | 12.5 | 2.55% |
 CF | CF Industries Holdings Inc | 0.05% | $120.54 | -0.3% | $18.2B | 8.9 | 1.8% |
AAM S&P 500 High Dividend Value ETF Investor Checkpoints
Here are the points to review before investing in SPDV. Because it is a dividend and value style ETF, it is wise to check costs, style exposure, dividend sustainability, and currency effects in advance.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the cumulative cost impact over a long holding period | Annual fee applies |
| 📊 Style Exposure | Check the dividend and value profile and sector diversification | Needs verification |
| 💰 Dividend Flow | Sustainability and variability of quarterly dividends | Paid quarterly |
| 💱 Exchange Rate | Impact on returns converted into Korean won | Not currency hedged |
Given the nature of dividend and value styles, the fund can lag when growth stocks lead the market, and dividends may be reduced if earnings at holdings deteriorate. Sector rotation and the interest rate environment also affect short-term performance.
It is a suitable choice for investors who want both dividend income and value exposure within US large caps and who place importance on sector diversification. If you prioritize dividend growth, consider comparing SCHD and VYM, and if you want a concentrated high-dividend approach, compare SPYD as well.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of July 2, 2026.
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