AVK vs SCHD
Advent Convertible and Income Fund vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. AVK offers more diversification with 435 holdings.
Side-by-Side Comparison
| Metric | AVK | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 2.77% | 0.06% | |
| AUM | $623M | $108.7B | |
| Dividend Yield | 10.48% | 3.13% | |
| Holdings | 435 | 104 | |
| YTD Return | +9.23% | +26.50% | |
| 1Y Return | +14.89% | +31.25% | |
| 3Y Return (annualized) | +16.72% | +16.34% | |
| 5Y Return (annualized) | +4.96% | +10.10% | |
| Volatility (annualized) | 20.9% | 13.6% | |
| Max Drawdown | -72.6% | -33.4% | |
| Fund Family | Guggenheim Investments | Charles Schwab Asset Management | |
| Category | Convertible | Equity | |
| Inception | Apr 29, 2003 | Oct 20, 2011 |
AVK vs SCHD Performance
Advent Convertible and Income Fund (AVK) is a ETF from Guggenheim Investments and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year AVK returned +14.89% while SCHD returned +31.25%. Year to date, AVK is up 9.23% versus a gain of 26.50% for SCHD.
Over three years, AVK compounded at +16.72% per year against +16.34% for SCHD; over five years the annualized figures are +4.96% and +10.10% respectively. Across the full 15-year window we track, SCHD has the edge at +11.50% annualized vs +0.03%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AVK has been the more volatile fund, with annualized monthly volatility of 20.9% compared with 13.6% for SCHD. 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 -72.6% for AVK 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 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AVK charges 2.77% per year while SCHD charges 0.06%. On a $10,000 position that is $277 vs $6 annually, a gap of $271 per year that compounds over a long holding period. On income, AVK currently yields 10.48% against 3.13% for SCHD.
Holdings Overlap
AVK and SCHD share 3 holdings out of 362 unique holdings combined, representing a 1.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, AVK or SCHD?
AVK has an expense ratio of 2.77% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $271 per year of difference.
Which performed better, AVK or SCHD?
Over the past year AVK returned +14.89% vs +31.25% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), AVK annualized +0.03% vs +11.50% for SCHD. Past performance does not guarantee future results.
Which is riskier, AVK or SCHD?
AVK has been the more volatile fund at 20.9% annualized versus 13.6% for SCHD. Worst drawdown: AVK -72.6% vs SCHD -33.4%.
Should I hold both AVK and SCHD?
AVK and SCHD have a monthly-return correlation of 0.76, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AVK and SCHD?
AVK and SCHD share 3 common holdings with a 1.7% weight overlap. Combined, they hold 362 unique securities.
Which pays a higher dividend, AVK or SCHD?
AVK yields 10.48% while SCHD yields 3.13%, so AVK currently pays the higher dividend yield.
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