{"slug":"spy-dividend-yield-and-uit-cash-drag","qid":"payout_lag","label":"Days from ex-dividend date to pay date, last three years","post_title":"SPY Dividend Yield: Why It Trails the Index","post_url":"/blog/spy-dividend-yield-and-uit-cash-drag#q-payout_lag","columns":["ticker","avg_days_cash_held","longest_wait_days","payout_count"],"rows":[{"ticker":"IVV","avg_days_cash_held":4.3,"longest_wait_days":7,"payout_count":12},{"ticker":"SPY","avg_days_cash_held":42.6,"longest_wait_days":47,"payout_count":12},{"ticker":"VOO","avg_days_cash_held":3.8,"longest_wait_days":6,"payout_count":12}],"shape":"ranking","sql":"WITH divs AS\n(\n    SELECT\n        ticker,\n        ex_dividend_date,\n        any(pay_date) AS payment_date\n    FROM global_markets.stocks_dividends\n    WHERE ticker IN ('SPY', 'VOO', 'IVV')\n      AND ex_dividend_date >= today() - 1095\n      AND ex_dividend_date <  today()\n      AND pay_date > ex_dividend_date\n    GROUP BY ticker, ex_dividend_date\n)\nSELECT\n    ticker,\n    round(avg(dateDiff('day', ex_dividend_date, payment_date)), 1) AS avg_days_cash_held,\n    max(dateDiff('day', ex_dividend_date, payment_date))           AS longest_wait_days,\n    count()                                                        AS payout_count\nFROM divs\nGROUP BY ticker\nORDER BY ticker","computed_at":"2026-08-22T04:22:07.038305+00:00","elapsed":0.034160908}