Quick Read

  • SPHD paid all 12 monthly checks, rising from $0.19 to a peak of $0.22, while its share price gained 16% over the year.

  • SDIV never missed a month but cut its distribution from $0.197 to $0.18, where it stayed locked for six straight months.

  • DGRW's checks swung wildly from $0.025 in January to $0.23 in December, making it a growth fund dressed as an income fund.

  • Building a portfolio and living off one are two completely different skills, and almost nobody teaches the second. This problem is what The Definitive Guide to Retirement Income helps, and it is free today. Read more here. (Sponsor)

SPHD paid all 12 monthly checks, rising from $0.19 to a peak of $0.22, while its share price gained 16% over the year.

SDIV never missed a month but cut its distribution from $0.197 to $0.18, where it stayed locked for six straight months.

DGRW's checks swung wildly from $0.025 in January to $0.23 in December, making it a growth fund dressed as an income fund.

Building a portfolio and living off one are two completely different skills, and almost nobody teaches the second. This problem is what The Definitive Guide to Retirement Income helps, and it is free today. Read more here. (Sponsor)

Once you retire, an income fund gets judged on two things: whether the check came and how big it was. Below is every distribution paid over the past year by the Invesco S&P 500 High Dividend Low Volatility ETF (NYSEARCA:SPHD), the Global X SuperDividend ETF (NYSEARCA:SDIV) and the WisdomTree U.S. Quality Dividend Growth Fund (NASDAQ:DGRW). All three pay on a monthly schedule and hold dividend stocks instead of selling options. Their records from November 2025 through October 2026 look very different.

SPHD Paid 12 Checks That Drifted Higher

SPHD paid every month, on a schedule of 12 payments per year. The ex-dividend date usually falls in the second half of the month, and the cash came a few days later in the same month. The amount changed every month, but only within a narrow range. The lowest check was $0.19476 in November 2025 and the largest was $0.21963 in August 2026. The September and October checks came in a little below that August high.

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Ex-Date

Pay Date

Per Share

2026-10-19

2026-10-23

$0.2014

2026-09-21

2026-09-25

$0.2016

2026-08-24

2026-08-28

$0.21963

2026-07-20

2026-07-24

$0.2147

2026-06-22

2026-06-26

$0.2106

2026-05-18

2026-05-22

$0.20935

2026-04-20

2026-04-24

$0.20836

2026-03-23

2026-03-27

$0.2069

2026-02-23

2026-02-27

$0.20937

2026-01-20

2026-01-23

$0.20271

2025-12-22

2025-12-26

$0.20594

2025-11-24

2025-11-28

$0.19476

The catch: SPHD pays a variable amount, not a fixed one, so you can't count on next month's check matching this month's. The checks have rose a long way: in November 2024 the fund paid $0.13781. Nothing ensures that rose will continue. Most of the portfolio sits in telecom, consumer staples, utilities, REITs and energy, which are rate-sensitive income sectors. The fund also holds short-term investment vehicles and derivatives, so stock dividends aren't the only source of each check. The share price is up 16.29% over the past year.

SDIV Never Missed a Month, but the Check Got Smaller

SDIV's checks came early, usually seven or eight days after the ex-dividend date. Two ex-dates fell in December 2025, but the second one was paid on 2026-01-07, so cash still landed once in every calendar month. The amount moved in steps. It was $0.19 through most of the winter, rose to $0.197 in March, then fell to $0.18 and stayed there for six straight months.

Ex-Date

Pay Date

Per Share

2026-10-05

2026-10-13

$0.18

2026-09-03

2026-09-11

$0.18

2026-08-05

2026-08-12

$0.18

2026-07-06

2026-07-13

$0.18

2026-06-03

2026-06-10

$0.18

2026-05-05

2026-05-12

$0.18

2026-04-06

2026-04-13

$0.19

2026-03-04

2026-03-11

$0.197

2026-02-04

2026-02-11

$0.19

2025-12-30

2026-01-07

$0.19

2025-12-03

2025-12-10

$0.19

2025-11-05

2025-11-13

$0.19

The catch: SDIV's check has been shrinking for a while. The fund paid $0.20 in March 2025, and the checks since then have come in lower. The share price hasn't made up the difference either. It is down 3.27% over ten years and 1.05% over five. The portfolio leans on mortgage REITs, shipping companies, energy and stocks in markets from Brazil to Thailand. Several Russian holdings are carried at just $0.01, which shows how hard a high-yield stock can fall.

DGRW's Check Jumped Around From Month to Month

DGRW pays late in the month, a couple of days after each ex-date. The size of the check changed far more than at the other two funds. The larger checks came at quarter-end: $0.2327 in December, $0.17 in March and September, and $0.16 in June. The months in between were much lower, with January down to $0.025.

Ex-Date

Pay Date

Per Share

2026-10-27

2026-10-29

$0.07

2026-09-25

2026-09-29

$0.17

2026-08-26

2026-08-28

$0.055

2026-07-28

2026-07-30

$0.065

2026-06-25

2026-06-29

$0.16

2026-05-26

2026-05-28

$0.055

2026-04-27

2026-04-29

$0.075

2026-03-26

2026-03-30

$0.17

2026-02-24

2026-02-26

$0.055

2026-01-27

Not provided

$0.025

2025-12-26

2025-12-30

$0.2327

2025-11-24

2025-11-26

$0.09

The catch: A retiree who budgets around DGRW's check will get a few strong months and a lot of low ones. The January 2026 record also has no payment date on file. In exchange, DGRW charges a 0.28% expense ratio and has increased its share price 282.98% over ten years. That makes it a fund built for growth more than for regular monthly income.

Which Check Held Up Best Over the Year

Looking only at the payment record, SDIV wrote the most consistent check, paying the same $0.18 for six months in a row. That stability came at a lower level than before, though. SPHD's check changed every month but stayed in a narrow band and rose over the year. DGRW paid the largest single check across the three records, $0.2327 in December, and also varied the most. Over the next few months, check whether SPHD's checks hold near their recent level and whether SDIV stays at $0.18 or cuts again.

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(Sponsor) Most people spend their entire working lives focusing on one thing: growing a pile of money. Then they retire and discover the skill they actually need is close to the opposite. Turning that pile into steady income, year after year, through good markets and bad, without ever running out.

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