AMAX vs SCHD
Adaptive Hedged Multi-Asset Income ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SCHD offers more diversification with 100 holdings.
Side-by-Side Comparison
| Metric | AMAX | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 1.36% | 0.06% | |
| AUM | $68M | $103.7B | |
| Dividend Yield | 11.85% | 3.31% | |
| Holdings | 29 | 104 | |
| YTD Return | +3.40% | +25.62% | |
| 1Y Return | +6.32% | +32.62% | |
| 3Y Return (annualized) | +8.70% | +15.58% | |
| 5Y Return (annualized) | - | +9.63% | |
| Volatility (annualized) | 9.3% | 13.6% | |
| Max Drawdown | -16.3% | -33.4% | |
| Fund Family | Adaptive ETFs | Charles Schwab Asset Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Oct 2, 2009 | Oct 20, 2011 |
AMAX vs SCHD Performance
Adaptive Hedged Multi-Asset Income ETF (AMAX) is a ETF from Adaptive ETFs and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year AMAX returned +6.32% while SCHD returned +32.62%. Year to date, AMAX is up 3.40% versus a gain of 25.62% for SCHD.
Over three years, AMAX compounded at +8.70% per year against +15.58% for SCHD. Across the full 5-year window we track, SCHD has the edge at +11.47% annualized vs +3.27%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 9.3% for AMAX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -16.3% for AMAX and -33.4% for SCHD. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.62. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
AMAX charges 1.36% per year while SCHD charges 0.06%. On a $10,000 position that is $136 vs $6 annually, a gap of $130 per year that compounds over a long holding period. On income, AMAX currently yields 11.85% against 3.31% for SCHD.
Holdings Overlap
AMAX and SCHD share 0 holdings out of 115 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, AMAX or SCHD?
AMAX has an expense ratio of 1.36% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $130 per year of difference.
Which performed better, AMAX or SCHD?
Over the past year AMAX returned +6.32% vs +32.62% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (5 years), AMAX annualized +3.27% vs +11.47% for SCHD. Past performance does not guarantee future results.
Which is riskier, AMAX or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 9.3% for AMAX. Worst drawdown: AMAX -16.3% vs SCHD -33.4%.
Should I hold both AMAX and SCHD?
AMAX and SCHD have a monthly-return correlation of 0.62, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AMAX and SCHD?
AMAX and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 115 unique securities.
Which pays a higher dividend, AMAX or SCHD?
AMAX yields 11.85% while SCHD yields 3.31%, so AMAX currently pays the higher dividend yield.
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