DVY Dividend Calculator
Dividend growth rate (CAGR)
| Year | Yield | Div / share | Annual income | Yield on cost | Cumulative income | Portfolio value | Shares |
|---|---|---|---|---|---|---|---|
| 1 | 3.3% | $5.25 | $344.00 | 2.8% | $344.00 | $13,243 | 83.19 |
| 2 | 3.4% | $5.65 | $469.96 | 3.2% | $813.96 | $16,758 | 100.82 |
| 3 | 3.5% | $6.08 | $613.48 | 3.6% | $1,427 | $20,573 | 118.57 |
| 4 | 3.6% | $6.55 | $776.97 | 4.0% | $2,204 | $24,724 | 136.48 |
| 5 | 3.7% | $7.06 | $963.24 | 4.4% | $3,168 | $29,247 | 154.65 |
| 6 | 3.8% | $7.60 | $1,175 | 4.8% | $4,343 | $34,187 | 173.15 |
| 7 | 4.0% | $8.19 | $1,417 | 5.3% | $5,761 | $39,590 | 192.06 |
| 8 | 4.1% | $8.82 | $1,693 | 5.8% | $7,454 | $45,514 | 211.49 |
| 9 | 4.2% | $9.50 | $2,008 | 6.4% | $9,462 | $52,020 | 231.54 |
| 10 | 4.4% | $10.23 | $2,368 | 7.0% | $11,830 | $59,179 | 252.30 |
Year 1-10 dividend income (preview)
Based on a $10,000 initial investment with $200.00 monthly contributions, DRIP on.
Historical dividends per share
Recent dividends
| Ex-date | Cash amount | TTM yield | Fwd yield | Share price |
|---|---|---|---|---|
| 2026-03-17 | $1.15 | 4.2% | 3.0% | $150.86 |
| 2025-12-16 | $1.62 | 4.6% | 4.6% | $141.71 |
| 2025-09-16 | $1.25 | 4.6% | 3.6% | $139.22 |
| 2025-06-16 | $1.23 | 3.9% | 3.8% | $130.68 |
| 2025-03-18 | $1.05 | 4.4% | 3.2% | $132.97 |
| 2024-12-17 | $1.32 | 4.5% | 3.9% | $133.66 |
| 2024-09-25 | $1.55 | 3.5% | 4.7% | $133.26 |
| 2024-06-11 | $0.93 | 3.8% | 3.1% | $120.22 |
| 2024-03-21 | $1.00 | 4.5% | 3.3% | $121.06 |
| 2023-12-20 | $1.19 | 3.9% | 4.1% | $115.29 |
| 2023-09-26 | $1.46 | 4.0% | 5.4% | $107.72 |
| 2023-06-07 | $0.82 | 4.5% | 2.9% | $113.43 |
Source: Polygon.io. Last 12 dividend distributions, most recent first. TTM yield = sum of last 12 months of payments ÷ share price on ex-date. Forward yield = this payment × detected payout frequency ÷ share price on ex-date.
About DVY
DVY — the iShares Select Dividend ETF — is a passive dividend-equity fund managed by iShares (BlackRock) that tracks the Dow Jones US Select Dividend Index. Launched in 2003, DVY is among the older dividend-focused ETFs in the US market and predates SCHD (2011) and VYM (2006) by several years. The underlying index screens the US dividend universe for companies with stable payout history — minimum five-year non-negative dividend growth, positive earnings, and reasonable payout ratios — and applies a dividend-yield-weighted methodology to construct a portfolio of approximately one hundred names. The weighting approach is unusual among dividend ETFs: rather than weighting by market capitalization (as VYM does) or by a quality-screened equal-or-cap-tilted methodology (as SCHD does), DVY weights constituents by indicated annual dividend yield, which produces a portfolio that tilts more heavily toward higher-yielding and smaller-cap names than its broader peers.
The dividend-yield-weighting methodology has two structural consequences worth understanding before treating DVY as a drop-in substitute for SCHD or VYM. First, the portfolio tilts away from large-cap mega-payers and toward mid-cap and smaller-cap high-yield names — utilities, regional banks, REITs, and tobacco/consumer-staples mid-caps tend to feature more prominently than they would in a market-cap-weighted dividend basket. The dividend yield on DVY tends to run higher than VYM's and somewhat higher than SCHD's as a result, though the trailing-twelve-month figures move with the underlying constituent universe. Second, the smaller-cap and higher-yield tilt produces a higher historical dividend volatility — DVY's per-share annual distribution has experienced larger drawdowns in stress windows (2008-09, 2020) than SCHD's more quality-screened basket, because the high-yield constituent set tends to include names that cut dividends in earnings-stress windows.
DVY versus SCHD versus VYM is the key comparison to run for anyone choosing among broad US dividend ETFs. SCHD overlays quality screens — return on equity, debt-to-equity, cash flow stability, and minimum dividend history — onto its dividend universe and selects only the top one hundred names, producing a tighter and more quality-tilted basket with strong historical dividend growth. VYM applies a simpler yield-above-median filter to a broad universe and holds four hundred to five hundred names at low expense, producing a diversified yield-tilted basket with modest dividend growth. DVY screens for payout-history stability and then weights by yield, producing a more concentrated, higher-yielding, smaller-cap-tilted basket with somewhat higher historical dividend volatility. The three funds occupy three distinct positions on the yield-quality-diversification trade-off, and the calculator on this page can be run across all three with the same inputs to compare the projected income lines side by side over multi-year horizons.
How DVY pays dividends
DVY distributes cash dividends quarterly. The ex-dividend date typically falls in the second or third week of March, June, September, and December, with the pay date following a few business days later. The per-share cash amount is the aggregate dividend collected from the portfolio's holdings during the quarter, scaled by the dividend-yield weights and net of the fund's expense ratio. Quarter-to-quarter amounts can vary modestly because individual constituents pay on different schedules within the quarter and because the fund's holdings rotate as the underlying index rebalances. Over a calendar year, the aggregate distribution is the meaningful figure for income-planning purposes; quarter-to-quarter variation is normal and not a signal of any change in underlying strategy.
DVY's distributions are composed predominantly of qualified dividends — income from underlying US companies that meets the IRS holding-period requirements. For shareholders who also meet the qualified-dividend holding requirement (generally sixty-one days around the ex-date), these distributions are taxed at long-term capital-gains rates rather than ordinary-income rates. This is a meaningful tax advantage for taxable accounts at high marginal brackets, where the spread between qualified-dividend rates and ordinary-income rates is largest. Tax-advantaged accounts (IRA, Roth IRA, 401(k)) shelter the income entirely and the qualified-versus-ordinary distinction is irrelevant inside the wrapper.
The annual distribution has grown across most rolling five-year windows since the fund's 2003 inception, though the growth pattern has been less monotonic than SCHD's. The 2008-09 financial crisis produced a multi-year drawdown in DVY's distribution as several financial-sector and cyclical constituents cut payouts; the 2020 COVID demand shock produced a smaller but still meaningful drop. SCHD's quality screens, which were calibrated to limit exposure to weaker dividend-growth names, insulated SCHD from a comparable share of those cuts. Investors evaluating DVY for long-horizon income planning should expect modest dividend growth on average with episodic flat-to-down years tied to cyclical dividend cuts in the underlying basket. The expense ratio is moderate among dividend ETFs — slightly above SCHD and VYM but below most actively managed dividend funds.
Who DVY suits
DVY suits investors who want a higher-yield tilt than VYM at the cost of a smaller-cap and somewhat more concentrated basket, who prefer the dividend-yield-weighting methodology (giving more portfolio weight to the higher-yielding names within the eligible universe) over market-cap or quality-screened weighting, and who are comfortable with the historical pattern of slightly more dividend-volatility in stress windows than SCHD has shown. Investors prioritizing dividend-growth track record and quality-screening rigor should weight SCHD more heavily; investors prioritizing broad diversification and low fees should weight VYM more heavily; investors specifically wanting the higher-yield-tilted basket with payout-history-stability screening should consider DVY.
The DVY-versus-SCHD comparison is structurally informative. SCHD's quality-screened, top-one-hundred-name basket has produced higher dividend growth and lower dividend volatility in historical drawdown windows, but it tilts somewhat lower-yield than DVY in current measurement periods. DVY's yield-weighted, payout-stability-screened basket has produced higher current yield but more dividend-volatility in cyclical cuts. The right choice depends on the holder's relative weight on current yield versus dividend-growth track record. Investors building a dividend-focused income sleeve often hold one of the three (SCHD, VYM, or DVY) rather than mixing them, since the constituent overlap among the three baskets is substantial and the marginal diversification from holding two is modest.
DVY is held in both taxable and tax-advantaged accounts. In taxable accounts the qualified-dividend treatment is a real after-tax advantage relative to option-income ETFs (JEPI, JEPQ, MSTY) whose distributions are largely ordinary income or return of capital. In tax-advantaged accounts the wrapper renders distribution-character differences irrelevant, and the choice between DVY, SCHD, and VYM comes down to underlying composition and expected growth rate rather than tax treatment. The dividend calculator on this page can model DVY using the current forward yield and a modest annual DGR consistent with the fund's historical pattern; users planning around a long horizon should also run the same scenario with a flatter or slightly negative DGR to test sensitivity to the kind of cyclical dividend pressure DVY has experienced in past stress windows.
Hypothetical scenarios
Scenario 1: $50,000 plus $500/month into DVY over 20 years
Consider a hypothetical accumulation strategy: $50,000 starting capital plus $500 added every month, all in DVY, with quarterly DRIP enabled. The calculator on this page can model this directly — set Initial investment to $50,000, Extra contribution to $500, Contribution frequency to Monthly, time horizon to 20 years, DRIP on. DVY's dividend frequency is locked to quarterly on this page, so the four annual distributions reinvest into additional shares, and the monthly contributions add to share count at the current price each month.
The mechanics: each month the new $500 buys additional shares, each quarter the dividend received from all accumulated shares is reinvested, and the share count compounds over time. DVY's per-share annual dividend has grown across most rolling five-year windows since 2003, with some flat-to-down years tied to cyclical dividend cuts in the underlying basket (the 2008-09 financial crisis produced a multi-year drawdown; 2020 produced a smaller drop). A modest single-digit annual DGR is a defensible base-case assumption for the calculator, recognizing that the actual realized growth depends on whether the next twenty years feature dividend-cut episodes comparable in magnitude to the 2008-09 window or whether dividend growth tracks closer to SCHD's quality-screened pattern.
The output worth focusing on is the per-quarter income figure shown beneath the KPI block — that's roughly what a holder would expect to see deposit into a brokerage account at the end of the horizon if the underlying constituent universe behaves consistent with the chosen DGR assumption. The yield-weighted methodology means DVY's starting yield runs higher than VYM's, which means the share-count compounding accelerates faster on the same dollar base in the early years; over a twenty-year window, the cumulative dividend stream from DVY can be meaningfully higher than the equivalent VYM allocation, though the difference narrows or reverses if a dividend-cut episode hits the higher-yield-tilted basket harder than the broader VYM constituent set. Investors who want to stress-test the projection should run the same scenario with a flat or slightly negative DGR to see how the income line evolves under a more conservative dividend-growth assumption.
Scenario 2: DVY versus SCHD versus VYM — the three-way comparison
Consider the structural comparison among the three major broad US dividend ETFs at the same starting capital and contribution pattern: $50,000 plus $500/month over twenty years with DRIP. SCHD, VYM, and DVY each occupy a different position on the yield-quality-diversification trade-off, and running the calculator across all three with the same dollar inputs produces three distinct income-line projections that illustrate the methodology differences in concrete terms.
SCHD's quality-screened, top-one-hundred-name basket starts at a lower forward yield than DVY but historically has higher dividend growth. The calculator output at, say, a 3.5% starting yield and a 7% annual DGR produces an income line that starts lower than DVY's projection but grows faster over time and crosses DVY's income line somewhere in the mid-horizon range. The total cumulative cash collected over the twenty-year window depends on where the crossover happens and how steep the divergence is, which in turn depends on whether SCHD's quality screens continue to produce above-average dividend growth in the forward window.
VYM's broad market-cap-weighted, four-to-five-hundred-name basket starts at a forward yield between SCHD and DVY and has historically produced modest dividend growth — slower than SCHD but with less dividend volatility in stress windows than DVY. The calculator output at a moderate starting yield and a modest single-digit DGR produces an income line that runs between the other two for most of the horizon, with the longer-term diversification benefit appearing in stress-window scenarios where the broader basket is less concentrated in any single sector's dividend cuts.
DVY's yield-weighted, payout-stability-screened basket starts at the highest forward yield of the three but historically has slightly lower dividend growth and more dividend volatility in stress windows. The calculator output at the higher starting yield and a more modest DGR produces an income line that starts highest but rises less steeply, with the cumulative cash collected over the twenty-year window depending on whether the higher starting yield more than offsets the lower growth rate, and whether dividend-cut episodes in the higher-yield basket erase part of the early-year advantage.
The honest reading of the three-way comparison is that none of the three is unambiguously superior — they represent three different bets on the dividend-equity universe, and the realized outcome depends on the forward path of dividend growth across the underlying constituent baskets. Investors who already have a strong prior on one of the three methodologies can use the calculator output to size positions and project income lines; investors without a strong prior should consider that the three baskets overlap meaningfully in their largest constituents (a meaningful share of the top ten holdings appears in two or three of the funds), so holding only one of the three is generally adequate rather than holding all three simultaneously. As always, this content is educational only; the calculator output is a model based on user-supplied inputs, not a forecast of realized future outcomes.
Sources & methodology
Dividend history and price data come from Polygon.io's reference and aggregates endpoints. Forward yield is computed as the sum of the most recent four cash distributions divided by the previous-close share price. The dividend growth rate shown on this page is the compound annual growth rate of total annual distributions across the available history in this snapshot.
Last updated: 2026-05-15.
Information here is for educational purposes only and does not constitute investment advice. Past dividend history does not guarantee future payments. Verify all figures with the issuer or a registered financial advisor before making investment decisions.