# How Capital Group Dividend Value ETF (CGDV) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/cgdv
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on CGDV alone. It places CGDV (Capital Group Dividend Value ETF) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where CGDV stands in the market, and of the alternatives worth a closer look.

Period covered: CGDV's full trading record, from February 2022 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** Over the past 3 months, CGDV rose 1.4% against 3.9% for the S&P 500 and 3.2% for the Nasdaq 100. On the flip side, both CGDV and the S&P 500 are within a few percent of a record high.
- **Fund or market?:** CGDV rose 1.4% over the past 3 months, in line with the US dividend equity ETF VYM (Vanguard High Dividend Yield ETF), which rose 1.7%. The S&P 500 rose 3.9%. Its similar funds did not move as one over the past 3 months: SCHD (Schwab U.S. Dividend Equity ETF) rose 6.8%, while DVY (iShares Select Dividend ETF) was flat.
- **Long term:** CGDV's 3-year return of 97.2% puts it ahead of 87% of the ETFs with at least $100 million in assets with that much history. The S&P 500 returned 89.3%. CGDV turned $10,000 into $19,700 over the past 3 years, against $18,900 in the S&P 500.
- **Diversification:** Over 3 years, CGDV's beta versus the S&P 500 was 0.84: in the S&P 500's rising months it gained 1.0 times as much as the index, and in falling months it lost 80% as much.
- **Better options:** Nothing in the whole market did better on both counts: none of the 3,928 stocks and funds worth at least $500 million earned more than CGDV with less volatility over the past 3 years.

## How much would $10,000 in CGDV have grown?

This chart tracks a hypothetical $10,000 investment in CGDV over the past 4 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of CGDV over the same span and CGDV's popular alternatives, among those that traded for the entire period.

- $10,000 invested in CGDV at the end of September 2022 would have grown to $25,482 by September 2026, more than the $22,487 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of CGDV, and NVDA finished highest, at $188,900.

## CGDV at a glance

This section summarizes the key facts about the fund, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout.

- CGDV has not had a losing calendar year since it began trading in 2022; it gained in all three full years, at worst 20.1% in 2024.
- CGDV's deepest decline since it began trading in 2022 was 21.8%, from March to September 2022. It took nine months from the low to climb back to its old high.
- CGDV is 4.1% below its all-time high.

- Type: ETF, Dividend & Income (Asset Management - Income)
- Trading since: February 24, 2022
- Assets: $39B
- Expense ratio: 0.33%
- Volatility (3 years): 13.7%; Sharpe ratio: 1.73
- Worst decline ever: −21.8%, from March 29, 2022 to September 30, 2022; back at its high by June 2, 2023

| Period | CGDV total return |
| --- | --- |
| 1 month | −0.8% |
| 3 months | +1.4% |
| 6 months | +7.7% |
| year to date | +12.8% |
| 1 year | +18.2% |
| 3 years | +97.2% |

## CGDV against the whole market

Where CGDV ranks among every stock and fund, and what across the market has done better.

### How does CGDV rank among all ETFs?

This section ranks CGDV on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history.

- CGDV's 3-year return ranks in the top 13% of the 1,949 ETFs with at least $100 million in assets with 3 years of history.

| Measure | CGDV | Rank |
| --- | --- | --- |
| 1-year return | +18.2% | 539 of 2,485 (top 22%) |
| 3-year return | +97.2% | 252 of 1,949 (top 13%) |
| Volatility, 3 years | 13.7% | 829 of 1,949 (top 43%) |
| Sharpe ratio, 3 years | 1.73 | 255 of 1,949 (top 14%) |

### What has beaten CGDV on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 3 years (higher is better) and how much its price swung, its volatility (further left is calmer).

- None of the 3,928 stocks and funds worth at least $500 million earned more than CGDV over the past 3 years with less volatility: nothing sits in the green region.

### Is there a better investment than CGDV?

The table below lists investments that beat CGDV over the past 3 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes, and, for funds, the same exposure at a lower expense ratio.

- Nothing in the whole market did better on both counts: none of the 3,928 stocks and funds worth at least $500 million earned more than CGDV with less volatility over the past 3 years.

## CGDV against its popular alternatives

The investments people most often weigh against CGDV, compared period by period and year by year.

### How do CGDV's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 3 years against its volatility, the size of its typical price swings.

- None of the 23 popular alternatives earned more than CGDV over the past 3 years with smaller price swings, so every higher return on the map came with a bumpier ride.
- Over the past 3 years, CGDV returned 25.4% a year, more than the S&P 500's 23.7%, with lower volatility (13.7% against 15.2%).

### Has CGDV consistently beaten its popular alternatives?

This section compares CGDV with the investments people most often weigh against it, checking each one over six periods from one month to three years.

- Only one of the 24 popular alternatives, TDIV, outperformed CGDV in at least 3 of 5 short-term and 1 of 1 long-term timeframes.

| Investment | 1Y return | 3Y return | Periods ahead of CGDV | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- |
| CGDV: Capital Group Dividend Value ETF (this page) | +18.2% | +97.2% |  |  | 1.73 |
| TDIV: First Trust NASDAQ Technology Dividend Index Fund | +15.2% | +117% | 3/5 short-term, 1/1 long-term | consistent | 1.36 |
| [IWD](https://easycompare.io/research/iwd): iShares Russell 1000 Value ETF | +27.7% | +84.4% | 5/5 short-term, 0/1 long-term |  | 1.65 |
| [VTV](https://easycompare.io/research/vtv): Vanguard Morningstar Value ETF | +22.5% | +77.9% | 5/5 short-term, 0/1 long-term |  | 1.65 |
| HDV: iShares Core High Dividend ETF | +26.8% | +71.8% | 5/5 short-term, 0/1 long-term |  | 1.62 |
| [SCHD](https://easycompare.io/research/schd): Schwab U.S. Dividend Equity ETF | +33.0% | +67.5% | 5/5 short-term, 0/1 long-term |  | 1.38 |
| TCAF: T. Rowe Capital Appreciation Equity ETF | +13.7% | +78.8% | 4/5 short-term, 0/1 long-term |  | 1.47 |
| [QUAL](https://easycompare.io/research/qual): iShares MSCI USA Quality Factor ETF | +16.4% | +76.9% | 4/5 short-term, 0/1 long-term |  | 1.40 |
| [DGRO](https://easycompare.io/research/dgro): iShares Core Dividend Growth ETF | +18.1% | +74.2% | 4/5 short-term, 0/1 long-term |  | 1.65 |
| [SPY](https://easycompare.io/research/spy): State Street SPDR S&P 500 ETF | +15.8% | +89.3% | 3/5 short-term, 0/1 long-term |  | 1.48 |
| DFAU: Dimensional - US Core Equity Market ETF | +16.2% | +86.3% | 3/5 short-term, 0/1 long-term |  | 1.46 |
| DHS: WisdomTree U.S. High Dividend Fund | +19.9% | +70.3% | 3/5 short-term, 0/1 long-term |  | 1.49 |
| SDY: State Street SPDR S&P Dividend ETF | +14.3% | +51.0% | 3/5 short-term, 0/1 long-term |  | 1.20 |
| RDVY: First Trust Rising Dividend Achievers ETF | +20.0% | +87.7% | 2/5 short-term, 0/1 long-term |  | 1.36 |
| [VYM](https://easycompare.io/research/vym): Vanguard High Dividend Yield ETF | +16.9% | +72.8% | 2/5 short-term, 0/1 long-term |  | 1.54 |
| DVY: iShares Select Dividend ETF | +16.9% | +69.9% | 2/5 short-term, 0/1 long-term |  | 1.37 |
| [VIG](https://easycompare.io/research/vig): Vanguard Dividend Appreciation ETF | +13.7% | +67.0% | 2/5 short-term, 0/1 long-term |  | 1.47 |
| DGRW: WisdomTree U.S. Quality Dividend Growth Fund | +12.8% | +65.2% | 2/5 short-term, 0/1 long-term |  | 1.40 |
| DIVO: Amplify CWP Enhanced Dividend Income ETF | +14.6% | +63.4% | 2/5 short-term, 0/1 long-term |  | 1.58 |
| NOBL: ProShares - S&P 500 Dividend Aristocrats ETF | +14.1% | +43.3% | 2/5 short-term, 0/1 long-term |  | 1.00 |
| [JEPI](https://easycompare.io/research/jepi): JPMorgan Equity Premium Income ETF | +8.7% | +38.1% | 2/5 short-term, 0/1 long-term |  | 1.14 |
| CGDG: Capital Group Dividend Growers ETF | +10.6% | +65.4% | 1/5 short-term, 0/1 long-term |  | 1.49 |
| SPYD: State Street SPDR Portfolio S&P 500 High Dividend ETF | +14.1% | +61.6% | 1/5 short-term, 0/1 long-term |  | 1.21 |
| FVD: First Trust Value Line Dividend Index Fund | +10.2% | +45.3% | 1/5 short-term, 0/1 long-term |  | 1.17 |
| FDVV: Fidelity High Dividend ETF | +13.7% | +78.5% | 0/5 short-term, 0/1 long-term |  | 1.62 |

### How did CGDV do year by year?

This table shows each investment's total return in every full calendar year since 2023, along with where CGDV ranked among its popular alternatives each year.

- Ranked against its popular alternatives each year, CGDV finished in the top quarter in three of three years and in the bottom quarter in no. In 2025, it ranked 1 of 24.
- CGDV finished ahead of the S&P 500 in two of its three full calendar years.
- Among its popular alternatives, TDIV came out ahead of CGDV most often, in two of the three years both traded.

| Year | CGDV | SPY |
| --- | --- | --- |
| 2025 | +25.5% | +17.7% |
| 2024 | +20.1% | +24.9% |
| 2023 | +28.8% | +26.2% |

## Risk and diversification

How CGDV has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

### What were CGDV's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In three of CGDV's five worst declines, it fell less than the S&P 500 did over the same dates.
- None of these declines kept CGDV below its old high for long; the longest climb back took nine months.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −21.8% | March 29, 2022 | September 30, 2022 | June 2, 2023 | −22.0% | 2022 bear market |
| −14.3% | February 13, 2025 | April 8, 2025 | May 19, 2025 | −18.3% |  |
| −9.8% | February 25, 2026 | March 30, 2026 | April 17, 2026 | −8.6% |  |
| −9.0% | July 31, 2023 | October 27, 2023 | November 24, 2023 | −10.0% |  |
| −5.6% | August 13, 2026 | September 16, 2026 | not yet | −3.1% |  |

### How did CGDV do in stock market crashes?

This section measures how far CGDV, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- CGDV began trading after the 2008 financial crisis, but eight of its popular alternatives lived through it. The mildest fall among them was VIG's 46.8%, against 55.2% for the S&P 500.

| Crash | Dates | CGDV fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | not trading | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | not trading | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | not trading | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | not trading | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | not trading | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | not trading | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | not trading | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | not trading | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −2.6% | −3.4% |

### How closely does CGDV move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell.

- Over the past 3 years, CGDV captured 99% of the S&P 500's gains in rising months and 80% of its losses in falling months, with a beta of 0.84. That is a defensive profile: it gave up some of the market's upside in exchange for smaller losses.
- Only CGDG and HDV had a higher capture ratio (upside capture divided by downside capture) than CGDV's 1.24, out of 23 popular alternatives with the same record.

Measured over the past 3 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| CGDV: Capital Group Dividend Value ETF (this page) | 99.0% | 80.0% | 0.84 |
| TDIV: First Trust NASDAQ Technology Dividend Index Fund | 126% | 134% | 1.38 |
| [IWD](https://easycompare.io/research/iwd): iShares Russell 1000 Value ETF | 92.0% | 102% | 0.79 |
| [VTV](https://easycompare.io/research/vtv): Vanguard Morningstar Value ETF | 84.0% | 87.0% | 0.68 |
| HDV: iShares Core High Dividend ETF | 65.0% | 47.0% | 0.28 |
| [SCHD](https://easycompare.io/research/schd): Schwab U.S. Dividend Equity ETF | 80.0% | 105% | 0.56 |
| TCAF: T. Rowe Capital Appreciation Equity ETF | 92.0% | 99.0% | 0.94 |
| [QUAL](https://easycompare.io/research/qual): iShares MSCI USA Quality Factor ETF | 90.0% | 90.0% | 0.90 |
| [DGRO](https://easycompare.io/research/dgro): iShares Core Dividend Growth ETF | 82.0% | 89.0% | 0.66 |
| DFAU: Dimensional - US Core Equity Market ETF | 100% | 110% | 1.01 |
| DHS: WisdomTree U.S. High Dividend Fund | 73.0% | 66.0% | 0.45 |
| SDY: State Street SPDR S&P Dividend ETF | 63.0% | 93.0% | 0.54 |
| RDVY: First Trust Rising Dividend Achievers ETF | 98.0% | 111% | 0.94 |
| [VYM](https://easycompare.io/research/vym): Vanguard High Dividend Yield ETF | 83.0% | 92.0% | 0.68 |
| DVY: iShares Select Dividend ETF | 76.0% | 84.0% | 0.54 |
| [VIG](https://easycompare.io/research/vig): Vanguard Dividend Appreciation ETF | 79.0% | 91.0% | 0.74 |
| DGRW: WisdomTree U.S. Quality Dividend Growth Fund | 84.0% | 103% | 0.81 |
| DIVO: Amplify CWP Enhanced Dividend Income ETF | 75.0% | 81.0% | 0.54 |
| NOBL: ProShares - S&P 500 Dividend Aristocrats ETF | 62.0% | 111% | 0.56 |
| [JEPI](https://easycompare.io/research/jepi): JPMorgan Equity Premium Income ETF | 50.0% | 61.0% | 0.43 |
| CGDG: Capital Group Dividend Growers ETF | 65.0% | 41.0% | 0.50 |
| SPYD: State Street SPDR Portfolio S&P 500 High Dividend ETF | 75.0% | 103% | 0.60 |
| FVD: First Trust Value Line Dividend Index Fund | 56.0% | 78.0% | 0.45 |
| FDVV: Fidelity High Dividend ETF | 89.0% | 91.0% | 0.76 |

### What diversifies CGDV?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in CGDV into HGER would have cut the portfolio's volatility by 20% over the past 3 years for a small cut in its annual return (+24.5% for CGDV alone, +24.4% for the mix).
- Among large ETFs, LVHI, EMLP and EFAV have moved largely independently of CGDV over the past 3 years, with correlations of 0.49 or lower, and each still earned a positive 3-year return.
- Among large stocks, TIGO, CIB and NTRA have moved largely independently of CGDV over the past 3 years, with correlations of 0.33 or lower, and each still earned a positive 3-year return.

| Investment | Correlation with CGDV | 3Y return | Volatility | Sharpe |
| --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.49 | +92.3% | 10.6% | 2.12 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.46 | +80.4% | 12.9% | 1.60 |
| EFAV: iShares MSCI EAFE Min Vol Factor ETF | 0.42 | +64.8% | 10.9% | 1.60 |
| EWS: iShares MSCI Singapore ETF | 0.46 | +105% | 16.8% | 1.53 |
| SHLD: Global X - Defense Tech ETF | 0.22 | +147% | 21.4% | 1.52 |
| GCOW: Pacer Global Cash Cows Dividend ETF | 0.45 | +67.4% | 11.9% | 1.51 |
| HGER: Harbor Commodity All-Weather Strategy ETF (HGER) | -0.15 | +85.0% | 14.9% | 1.46 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.24 | +127% | 20.3% | 1.46 |

## Common questions

### What was CGDV's worst drawdown?

CGDV's deepest decline since it began trading in 2022 was 21.8%, from March to September 2022. It took nine months from the low to climb back to its old high. Because CGDV launched in February 2022, that record does not include the dot-com bust, the 2008 financial crisis or six other sell-offs.

### What were CGDV's best and worst years?

Over three full calendar years, CGDV's best year was 2023, when it returned 28.8%. Its worst was 2024, with a return of +20.1%.

### Is there a better investment than CGDV?

Nothing in the whole market did better on both counts: none of the 3,928 stocks and funds worth at least $500 million earned more than CGDV with less volatility over the past 3 years.

### Is CGDV more volatile than the S&P 500?

No. CGDV's volatility over the past 3 years was 13.7%, 90% of the S&P 500's 15.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, CGDV's return lands within 13.7% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is CGDV's Sharpe ratio?

CGDV's Sharpe ratio over the past 3 years was 1.73, against 1.48 for the S&P 500, so CGDV earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

### How correlated is CGDV with the S&P 500?

Over the past 3 years, CGDV's monthly returns had a correlation of 0.87 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against CGDV instead: the lower it is, the more that option would diversify a CGDV holding.

### What are the best alternatives to CGDV?

Of the 24 popular alternatives we compared, one outperformed CGDV in at least 3 of 5 short-term and 1 of 1 long-term timeframes, with dividends reinvested: TDIV.

### Did CGDV outperform the S&P 500?

CGDV finished ahead of the S&P 500 (SPY) in two of three full calendar years. In 2025, it returned +25.5%, against +17.7% for the index.

### What diversifies CGDV?

These had a low correlation with CGDV over the past 3 years and still earned a positive 3-year return: among large ETFs, LVHI (correlation 0.49), EMLP (correlation 0.46) and EFAV (correlation 0.42); among large stocks, TIGO (correlation 0.21), CIB (correlation 0.18) and NTRA (correlation 0.33). A correlation near zero means the two have moved largely independently.

## More research

- [iShares Russell 1000 Value ETF (IWD) Performance, Alternatives and Market Rank](https://easycompare.io/research/iwd)
- [Vanguard Morningstar Value ETF (VTV) Performance, Alternatives and Market Rank](https://easycompare.io/research/vtv)
- [Schwab U.S. Dividend Equity ETF (SCHD) Performance, Alternatives and Market Rank](https://easycompare.io/research/schd)
- [iShares MSCI USA Quality Factor ETF (QUAL) Performance, Alternatives and Market Rank](https://easycompare.io/research/qual)
- [iShares Core Dividend Growth ETF (DGRO) Performance, Alternatives and Market Rank](https://easycompare.io/research/dgro)
- [State Street SPDR S&P 500 ETF (SPY) Performance, Alternatives and Market Rank](https://easycompare.io/research/spy)
- [Vanguard High Dividend Yield ETF (VYM) Performance, Alternatives and Market Rank](https://easycompare.io/research/vym)
- [Vanguard Dividend Appreciation ETF (VIG) Performance, Alternatives and Market Rank](https://easycompare.io/research/vig)
- [JPMorgan Equity Premium Income ETF (JEPI) Performance, Alternatives and Market Rank](https://easycompare.io/research/jepi)
- [NVIDIA (NVDA) Performance, Alternatives and Market Rank](https://easycompare.io/research/nvda)
- [Apple (AAPL) Performance, Alternatives and Market Rank](https://easycompare.io/research/aapl)
- [Alphabet (GOOG) Performance, Alternatives and Market Rank](https://easycompare.io/research/goog)

## Explore further

- Full page with charts: https://easycompare.io/research/cgdv
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against CGDV live: https://betterthanspy.com/?b=CGDV&utm_source=easycompare&utm_medium=research