iShares Core High Dividend ETF(HDV)
AI Look-Through Summary
AI GeneratedThe portfolio exhibits a significant tilt towards energy and consumer defensive sectors, with Energy comprising nearly a quarter of the allocation, followed closely by Consumer Defensive at over 23%. This suggests that the fund is positioned to benefit from stable earnings and dividend growth in these sectors. The weighted P/E ratio of 22.7x indicates that the portfolio is trading at a premium valuation compared to the broader market, while the weighted P/B ratio of 9.24x suggests that investors are willing to pay a significant premium for every dollar of book value.
The top holdings reveal a high concentration risk, with ExxonMobil (XOM) and Chevron (CVX) dominating the portfolio at 8.4% and 6.4%, respectively. The sector mix is more defensive than the broader market, which may be beneficial in periods of economic uncertainty but could be detrimental during times of growth. A favorable macro environment for this portfolio would likely involve stable energy prices, low inflation, and a strong consumer sector. Conversely, a significant increase in interest rates or a decline in oil prices could negatively impact the fund's performance.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-07-14 08:26:29.515848+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 85/100The investment theme implied by the name "High Dividend" is strongly supported by the fund's composition, as it exclusively targets companies with established histories of distributing income. The top holdings reveal a deliberate selection across Energy, Healthcare, and Consumer Defensive sectors, which are traditionally known for stable cash flows rather than thematic exposure to specific industries like technology or green energy. While the portfolio includes mega-cap names such as ExxonMobil and Chevron that often serve as broad market stabilizers, their inclusion here appears consistent with a strategy focused on dividend reliability within those specific high-yield sectors rather than an attempt to mask a lack of focus.
Sector coherence is evident in the heavy weighting toward Consumer Defensive and Energy industries, which together comprise over half of the portfolio, aligning well with the objective of finding reliable income sources regardless of broader market cycles. The presence of utilities and healthcare further reinforces this defensive posture without introducing unrelated thematic elements that would dilute the core mandate. Although there is a notable concentration in the top ten holdings at 57.2%, suggesting reliance on large-cap leaders to generate returns, the sector distribution remains tightly clustered around income-generating businesses rather than spreading thinly across disparate themes. This structure indicates a fund designed for yield stability through established giants rather than differentiation via niche exposure or broad market replication disguised as a specific strategy.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-24 05:27:35.380572+00
🏢 Sector Analysis
AI GeneratedThe sector allocation of the iShares Core High Dividend ETF reveals a distinct investment thesis centered on stability and income generation rather than capital appreciation or growth. With nearly half of its assets concentrated in Consumer Defensive (27.4%) and Energy (25.2%), combined with significant exposure to Healthcare, the fund prioritizes industries characterized by resilient cash flows and established market positions during economic downturns. This heavy weighting suggests a strategy designed to mitigate volatility through defensive characteristics while leveraging high-yield opportunities found in mature sectors like utilities and energy. The inclusion of only 13 holdings within the Consumer Defensive sector further indicates that the index targets specific, large-cap leaders rather than attempting broad diversification across niche sub-sectors.
A notable feature of this allocation is the pronounced concentration risk inherent in its top ten positions, which collectively account for over half of the fund's total assets. The dominance of XOM and CVX within the Energy sector alone creates a scenario where macroeconomic factors specific to oil prices could disproportionately influence overall portfolio performance, regardless of how other sectors behave. While Healthcare provides some diversification with four major holdings including JNJ and ABBV, the relatively small representation in Technology (6.7%) and Industrials implies that the fund is not actively seeking exposure to high-growth or cyclical expansion plays. This structural tilt toward value-oriented factors aligns with a mandate to capture dividends from established companies rather than betting on future earnings acceleration.
Ultimately, the portfolio structure reflects a deliberate choice to favor reliability over diversification breadth, resulting in a profile that may underperform during bull markets driven by technology or consumer spending but could offer downside protection when broader market indices decline. The limited number of holdings across most sectors means that idiosyncratic risks associated with individual companies carry more weight than they would in a broadly diversified index, requiring investors to carefully assess their tolerance for single-stock volatility within specific industry pockets.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-24 00:41:26.400288+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share HDV's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of HDV's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| SPTMSPTM | $12B | — | 74 | 99.3% |
| VYMVanguard High Dividend Yield Index Fund ETF Shares | $90B | — | 71 | 99.2% |
| ONEOONEO | $25M | — | 67 | 98.8% |
| SPLGSPLG | $97B | — | 57 | 98.0% |
| QUSQUS | $1B | — | 56 | 97.7% |
99% of HDV's portfolio by weight is also held by SPTM. When SPTM receives inflows, it mechanically buys these shared stocks — dragging HDV's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofHDV's weight.
Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Peer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside HDV collectively pay out 114% of their Free Cash Flow to maintain the current yield. Warning: constituent companies are paying out nearly all cash flow. A wave of dividend cuts may be imminent if earnings decline. Based on 86% of fund weight in dividend-paying stocks.
FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.
Earnings vs. Price Decomposition
ProprietaryHDV is down 75.8% over the last 12 months. The underlying weighted earnings growth of its constituents is +3.7%. Despite earnings growth, valuations have contracted by 79.5% — the market is paying less per dollar of earnings than a year ago.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 99% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of HDV's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of HDV's analyzed weight, 78% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 22% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 92% of fund weight with available data. Not investment advice.
Concentration Risk Monitor
ELEVATEDHDV's top holding XOM at 8.4% is above the 8% elevated-concentration threshold. The effective number of stocks is 28 vs. the actual count of 50.
Effective # of Stocks = 1 / HHI (Herfindahl-Hirschman Index). Variance share approximated as w² / Σw². Not investment advice.
Passive Crowding Score
MODERATEHow much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.
HDV has a Passive Crowding Score of 43/100. On average, 12.8% of the market capitalization of HDV's underlying holdings is structurally locked in passive ETF vehicles. This indicates moderate passive ownership density. Index rebalances and ETF creation/redemption activity can amplify short-term volatility in the underlying holdings.
Passive $ = Σ(ETF AUM × holding weight) across all 30 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.
Under the Hood — Top 15 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | XOM | EXXON MOBIL CORP Energy | 8.42% | 24.8x | 5/9 |
| 2 | CVX | CHEVRON CORP Energy | 6.42% | 32.0x | 6/9 |
| 3 | JNJ | JOHNSON & JOHNSON Healthcare | 5.68% | 29.0x | 4/9 |
| 4 | ABBV | ABBVIE INC Healthcare | 5.44% | 124.8x | 7/9 |
| 5 | PG | PROCTER & GAMBLE COMPANY (THE) Consumer Defensive | 4.46% | 22.2x | 6/9 |
| 6 | PM | PHILIP MORRIS INTERNATIONAL INC Consumer Defensive | 4.17% | 26.7x | 8/9 |
| 7 | HD | HOME DEPOT INC (THE) Consumer Cyclical | 4.07% | 24.7x | 4/9 |
| 8 | KO | COCA-COLA COMPANY (THE) Consumer Defensive | 3.86% | 26.7x | 7/9 |
| 9 | PGR | PROGRESSIVE CORP (THE) Financial Services | 3.79% | 10.3x | 5/9 |
| 10 | MRK | MERCK & COMPANY INC Healthcare | 3.77% | 36.0x | 4/9 |
| 11 | MO | ALTRIA GROUP INC Consumer Defensive | 3.70% | 15.2x | 6/9 |
| 12 | PEP | PEPSICO INC Consumer Defensive | 3.66% | 18.3x | 4/9 |
| 13 | TXN | TEXAS INSTRUMENTS INC Technology | 3.54% | 49.7x | 7/9 |
| 14 | BX | BLACKSTONE INC Financial Services | 2.42% | 33.1x | 5/9 |
| 15 | QCOM | QUALCOMM INC Technology | 2.37% | 18.4x | 6/9 |
Historical Holdings Snapshots
Browse how HDV’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-07-19
15 holdings · 65.8% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | XOM | 8.42% | 7,408,098 | $1.1B |
| 2 | CVX | 6.42% | 4,510,476 | $871.9M |
| 3 | JNJ | 5.68% | 3,353,256 | $770.7M |
| 4 | ABBV | 5.44% | 3,490,657 | $737.6M |
| 5 | PG | 4.46% | 4,112,929 | $605.0M |
| 6 | PM | 4.17% | 3,429,679 | $566.1M |
| 7 | HD | 4.07% | 1,680,709 | $552.6M |
| 8 | KO | 3.86% | 6,657,909 | $524.4M |
| 9 | PGR | 3.79% | 2,552,676 | $513.8M |
| 10 | MRK | 3.77% | 4,682,732 | $511.3M |
| 11 | MO | 3.70% | 6,904,330 | $501.6M |
| 12 | PEP | 3.66% | 3,133,981 | $496.7M |
| 13 | TXN | 3.54% | 1,708,645 | $480.3M |
| 14 | BX | 2.42% | 2,618,001 | $328.8M |
| 15 | QCOM | 2.37% | 1,789,060 | $321.3M |
2026-07-18
15 holdings · 65.8% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | XOM | 8.42% | 7,408,098 | $1.1B |
| 2 | CVX | 6.42% | 4,510,476 | $871.9M |
| 3 | JNJ | 5.68% | 3,353,256 | $770.7M |
| 4 | ABBV | 5.44% | 3,490,657 | $737.6M |
| 5 | PG | 4.46% | 4,112,929 | $605.0M |
| 6 | PM | 4.17% | 3,429,679 | $566.1M |
| 7 | HD | 4.07% | 1,680,709 | $552.6M |
| 8 | KO | 3.86% | 6,657,909 | $524.4M |
| 9 | PGR | 3.79% | 2,552,676 | $513.8M |
| 10 | MRK | 3.77% | 4,682,732 | $511.3M |
| 11 | MO | 3.70% | 6,904,330 | $501.6M |
| 12 | PEP | 3.66% | 3,133,981 | $496.7M |
| 13 | TXN | 3.54% | 1,708,645 | $480.3M |
| 14 | BX | 2.42% | 2,618,001 | $328.8M |
| 15 | QCOM | 2.37% | 1,789,060 | $321.3M |
2026-07-17
15 holdings · 65.8% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | XOM | 8.42% | 7,408,098 | $1.1B |
| 2 | CVX | 6.42% | 4,510,476 | $871.9M |
| 3 | JNJ | 5.68% | 3,353,256 | $770.7M |
| 4 | ABBV | 5.44% | 3,490,657 | $737.6M |
| 5 | PG | 4.46% | 4,112,929 | $605.0M |
| 6 | PM | 4.17% | 3,429,679 | $566.1M |
| 7 | HD | 4.07% | 1,680,709 | $552.6M |
| 8 | KO | 3.86% | 6,657,909 | $524.4M |
| 9 | PGR | 3.79% | 2,552,676 | $513.8M |
| 10 | MRK | 3.77% | 4,682,732 | $511.3M |
| 11 | MO | 3.70% | 6,904,330 | $501.6M |
| 12 | PEP | 3.66% | 3,133,981 | $496.7M |
| 13 | TXN | 3.54% | 1,708,645 | $480.3M |
| 14 | BX | 2.42% | 2,618,001 | $328.8M |
| 15 | QCOM | 2.37% | 1,789,060 | $321.3M |
2026-07-16
15 holdings · 65.8% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | XOM | 8.42% | 7,408,098 | $1.1B |
| 2 | CVX | 6.42% | 4,510,476 | $871.9M |
| 3 | JNJ | 5.68% | 3,353,256 | $770.7M |
| 4 | ABBV | 5.44% | 3,490,657 | $737.6M |
| 5 | PG | 4.46% | 4,112,929 | $605.0M |
| 6 | PM | 4.17% | 3,429,679 | $566.1M |
| 7 | HD | 4.07% | 1,680,709 | $552.6M |
| 8 | KO | 3.86% | 6,657,909 | $524.4M |
| 9 | PGR | 3.79% | 2,552,676 | $513.8M |
| 10 | MRK | 3.77% | 4,682,732 | $511.3M |
| 11 | MO | 3.70% | 6,904,330 | $501.6M |
| 12 | PEP | 3.66% | 3,133,981 | $496.7M |
| 13 | TXN | 3.54% | 1,708,645 | $480.3M |
| 14 | BX | 2.42% | 2,618,001 | $328.8M |
| 15 | QCOM | 2.37% | 1,789,060 | $321.3M |
2026-07-15
15 holdings · 65.8% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | XOM | 8.42% | 7,408,098 | $1.1B |
| 2 | CVX | 6.42% | 4,510,476 | $871.9M |
| 3 | JNJ | 5.68% | 3,353,256 | $770.7M |
| 4 | ABBV | 5.44% | 3,490,657 | $737.6M |
| 5 | PG | 4.46% | 4,112,929 | $605.0M |
| 6 | PM | 4.17% | 3,429,679 | $566.1M |
| 7 | HD | 4.07% | 1,680,709 | $552.6M |
| 8 | KO | 3.86% | 6,657,909 | $524.4M |
| 9 | PGR | 3.79% | 2,552,676 | $513.8M |
| 10 | MRK | 3.77% | 4,682,732 | $511.3M |
| 11 | MO | 3.70% | 6,904,330 | $501.6M |
| 12 | PEP | 3.66% | 3,133,981 | $496.7M |
| 13 | TXN | 3.54% | 1,708,645 | $480.3M |
| 14 | BX | 2.42% | 2,618,001 | $328.8M |
| 15 | QCOM | 2.37% | 1,789,060 | $321.3M |
2026-07-14
15 holdings · 65.8% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | XOM | 8.42% | 7,408,098 | $1.1B |
| 2 | CVX | 6.42% | 4,510,476 | $871.9M |
| 3 | JNJ | 5.68% | 3,353,256 | $770.7M |
| 4 | ABBV | 5.44% | 3,490,657 | $737.6M |
| 5 | PG | 4.46% | 4,112,929 | $605.0M |
| 6 | PM | 4.17% | 3,429,679 | $566.1M |
| 7 | HD | 4.07% | 1,680,709 | $552.6M |
| 8 | KO | 3.86% | 6,657,909 | $524.4M |
| 9 | PGR | 3.79% | 2,552,676 | $513.8M |
| 10 | MRK | 3.77% | 4,682,732 | $511.3M |
| 11 | MO | 3.70% | 6,904,330 | $501.6M |
| 12 | PEP | 3.66% | 3,133,981 | $496.7M |
| 13 | TXN | 3.54% | 1,708,645 | $480.3M |
| 14 | BX | 2.42% | 2,618,001 | $328.8M |
| 15 | QCOM | 2.37% | 1,789,060 | $321.3M |
Source: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Fama-French 5-Factor Exposure
Academic factor model decomposition — what's really driving this ETF's returns.
Fama-French 5-Factor Model. Data: Kenneth French Data Library. Regression over 3 years of daily returns.
Price Chart with Moving Averages
What Drove HDV Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Technical Setup
AI GeneratedThe current positioning of the iShares Core High Dividend ETF within the Large Value sector at $27.65 reflects a market environment where capital allocation strategies are heavily influenced by yield-seeking behavior amidst broader economic uncertainty. The absence of immediate volatility metrics or recent drawdown data in the provided snapshot suggests that while the asset maintains its structural role as a defensive large-cap value play, the underlying momentum remains contingent on external macroeconomic shifts rather than intrinsic technical strength alone. Without visible support levels holding firm against potential downside pressure, any upward movement could be interpreted as fragile if it lacks confirmation from widening trading volumes or sustained price action above key resistance thresholds. The fundamental backdrop of high dividend exposure typically buffers against short-term market noise, yet this very characteristic can mask emerging risks that technical indicators might later reveal through sharp reversals. If the current price level represents a consolidation phase following prior corrections, the lack of divergent signals implies that the asset is awaiting a catalyst to determine whether its recent trajectory is part of a sustainable structural trend or merely a temporary reaction to sector-specific flows. Investors must weigh the inherent stability offered by large value constituents against the possibility that current valuations do not yet account for potential headwinds in interest rates or corporate earnings quality, leaving the risk dynamics largely undefined without further price discovery.
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How HDV’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
AUM & Capital Flow Tracker
Estimated assets under management derived from SEC filings and daily price movements — tracks how the fund's value evolves over time.
Estimated AUM derived from the latest SEC N-PORT filing TNA ($13.57B) scaled by daily price changes. Filing snapshots update when new regulatory filings are published (quarterly for most funds, daily for ARK).
Explore More
Quant metrics computed deterministically from financial statements and price data. Updated: 2026-07-17.
SecuritiesDB is for informational purposes only. Not investment advice.