According to CoinMeta, dividend stocks have lost in the earnings race, but they may still outperform the market. Schwab U.S. Dividend Equity ETF ( SCHD ) has risen 27% since the beginning of the year, with its main holdings including semiconductor companies Qualcomm and Texas Instruments, while iShares Core High Dividend ETF ( HDV ) has gained 22% due to a 17% increase in oil prices over the past month. All four dividend ETF have surpassed the 13% return of SPY since the beginning of the year, proving that dividend stocks can win in the overall return race, even though the income they pay is lower than that of government bonds.