This Dividend ETF Is Up 21% and Doesn’t Own a Single Share of Palantir

The iShares Select Dividend ETF (NASDAQ:DVY) has quietly rewarded income investors with a 21.05% gain over the past year, all without owning a single share of Palantir Technologies (NASDAQ:PLTR), the market's flashiest momentum stock. That absence is baked into the fund's design. DVY is a dividend-screened equity fund run by iShares that targets established U.S. companies with consistent payout histories. As of April 30, 2026, the fund held 104 positions and reported net assets of $22.86 billion. The current expense ratio was not disclosed in the fund's latest NPORT snapshot. Performance has been steady rather than spectacular. DVY is up 1.33% over the past week, 3.57% over the trailing month, and 14.48% year to date. Zoom out and the picture holds: 62.4% over five years and 166.59% over ten. The rally has been powered by unglamorous income stocks. The top ten holdings as of April 30, 2026 read like a dividend hall of fame: Altria Group (MO): 2.291%, Pfizer (PFE): 2.216%, T. Rowe Price Group (TROW): 2.023%, Verizon Communications (VZ): 1.847%, Prudential Financial (PRU): 1.843%, OneOK (OKE): 1.831%, Edison International (EIX): 1.534%, LyondellBasell Industries (LYB): 1.527%, General Mills (GIS): 1.519%, Kimberly-Clark (KMB): 1.513%. The sector tilt tells the same story. DVY leans heavily into regulated utilities, regional banks, energy pipelines and majors, and consumer staples. Big utility and telecom weights, combined with a rotation back into value names, have carried the fund higher.

Market Impact and Future Outlook: DVY's performance is tied to the value of dividend-paying stocks. Changes in market conditions can affect the fund's returns. However, DVY's diversified portfolio and long-term performance make it an attractive option for investors.