When people talk about dividend ETFs for retirement, one name always dominates the conversation: SCHD.
And look — SCHD is a great fund. It’s reliable, pays well, and has the performance history to back it up. But relying only on SCHD is like saying Toyota is the only reliable Japanese car. What about Lexus, Honda, or Mazda?
In the same way, there are other high-quality dividend ETFs that offer strong yields, broad diversification, and long-term performance. So if you’re looking to build a retirement portfolio that provides steady income and growth, here are five dividend ETFs that deserve your attention — and none of them are named SCHD.
SPYD – SPDR Portfolio S&P 500 High Dividend ETF
If you want a high-yield dividend machine with a low expense ratio, SPYD could be a strong pick. SPYD focuses on the high dividend paying companies that are a part of the S&P 500. There may just be 80 different holdings in this ETF, but you are getting a good yield, and some of the best companies on the U.S. market.
Quick Facts:
- Expense Ratio: 0.07%
- Dividend Yield: ~4.50%
- Share Price: ~$42
- Holdings: 80 high dividend-paying U.S. companies
SPYD is heavily weighted toward real estate (23%) and utilities (18.5%), sectors that tend to offer strong, consistent payouts. Its top holdings include Philip Morris, AT&T, and Hasbro. The top 10 stocks make up just 18% of the portfolio — meaning it’s broadly diversified.
Performance:
- 5-Year Return: 13.55%
- 10-Year Return: Solid (exact figure varies, but consistent with income-focused peers)
If you’re aiming for high income over growth, SPYD is worth a serious look. Take a look and make a great decision.
DGRO – iShares Core Dividend Growth ETF
DGRO is a favorite among dividend growth investors — it focuses on companies that have a consistent history of raising dividends year after year, and it has a great performance. If you were looking for a dividend ETF that competes with SCHD in popularity this is the ETF people talk about.
Quick Facts:
- Expense Ratio: 0.08%
- Dividend Yield: 2.24%
- Share Price: ~$62
- Holdings: 417 U.S. stocks
Its sector exposure is balanced, with 22.5% in tech and 19% in financials, and its top holdings include Microsoft, JP Morgan, and Broadcom.
Performance:
- 5-Year Average Return: 13.17%
- 10-Year Average Return: 11.37%
DGRO may not wow you with its yield, but that performance should warrant some looking into. For investors focused on long-term dividend growth and total return, DGRO is one of the best in the game.
VYM – Vanguard High Dividend Yield ETF
Vanguard’s VYM offers a blend of reliable yield, broad diversification, and Vanguard’s famously low fees. It is one of the best yielding dividend ETFs on this list. Is it the best? No, but take a look at some of the facts and make the decision for yourself.
Quick Facts:
- Expense Ratio: 0.06%
- Dividend Yield: 2.86%
- Share Price: ~$128
- Holdings: 590 U.S. companies
With 21% in financials and 14% in healthcare, VYM captures well-established dividend payers like Exxon, Broadcom, JP Morgan, and Walmart.
Performance:
- 5-Year Average Return: 13.31%
- 10-Year Average Return: 9.67%
This is a solid core holding for income-focused investors who also want stability and diversification. You cannot go wrong with investing with VYM. It is stable, reliable, and you know you are in good hands with Vanguard.
DIVB – iShares Core Dividend & Buyback ETF
DIVB takes a unique approach by targeting companies that not only pay strong dividends but also engage in share buybacks — a sign of financial health and shareholder-friendly management.
Most people talk about DGRO, but what about DIVB. It is from the same company. It has a cheaper expense ratio, cheaper share price, and a higher yield. Let some of these facts help you determine if it is right for you.
Quick Facts:
- Expense Ratio: 0.05%
- Dividend Yield: 2.67%
- Share Price: ~$48
- Holdings: 411
It has strong exposure to tech (27%) and financials (20%), with companies like Cisco, IBM, and JPMorgan at the top.
Performance:
- 5-Year Average Return: 15.33%
That’s a great number, especially for a fund with such a modest yield — showing that total return matters just as much as income. The five year return is beating some of the best in the business. It is hard to overlook. With a pretty good yield and a strong performance, DIVB should be on your list of dividend ETFs to start buying.
FDVV – Fidelity High Dividend ETF
If you’re looking for an under-the-radar powerhouse, Fidelity’s FDVV might surprise you. It offers both yield and growth — with strong exposure to big-name tech and financials. Do not be scared of that expense ratio. It may be the highest of the bunch, but with the yield being the second highest you may be wondering why people leave this one off their list.
Quick Facts:
- Expense Ratio: 0.16%
- Dividend Yield: 3.01%
- Share Price: ~$50
- Holdings: 121
Its top names include Microsoft, Nvidia, and Apple, and sector weights are 24% tech and 19% financials — a nice mix of growth and income.
Performance:
- 5-Year Average Return: 17.24%
That’s one of the highest returns on this list — proving that FDVV deserves a seat at the retirement income table. If I was looking for a good performance, a great yield with a low cost, FDVV is the one I would be looking at.
It is just another great ETF that you could be adding to your arsenal of great ETFs.
Final Thoughts: SCHD Isn’t the Only Star
Don’t get me wrong — SCHD is a fantastic ETF. But it’s not the only great dividend ETF out there.
Whether you’re looking for high yield (SPYD), growth-focused income (DGRO or DIVB), or a balanced powerhouse (FDVV) — these ETFs prove that there’s more than one road to retirement success.
The best part? You can mix and match them to build a diversified income portfolio that fits your needs.
Steve Cummings is a journalist, personal finance creator that has specialized in saving and investing into ETFs. Steve founded Budgets Make Cents, and has been known for his personal finance advice and his passion for sports.
