A look at differences in the makeup of 3 popular dividend ETFs: DVY is composed of 100 high-yielders with 32.2% of assets in utilities. HDV tracks a Morningstar index screening for companies with a "moat" - 28.7% of its funds are in healthcare. VIG is made up of firms that have raised their dividends every year for the past 10. The divergence in returns is significant.