BFRZ vs SCHD
Innovator Equity Managed 100 Buffer ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. BFRZ offers more diversification with 182 holdings.
Side-by-Side Comparison
| Metric | BFRZ | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.89% | 0.06% | |
| AUM | $137M | $103.7B | |
| Dividend Yield | 0.27% | 3.31% | |
| Holdings | 201 | 104 | |
| YTD Return | +1.32% | +25.62% | |
| 1Y Return | +5.70% | +32.62% | |
| 3Y Return (annualized) | - | +15.58% | |
| 5Y Return (annualized) | - | +9.63% | |
| Volatility (annualized) | 4.2% | 13.6% | |
| Max Drawdown | -3.1% | -33.4% | |
| Fund Family | Innovator ETFs Trust | Charles Schwab Asset Management | |
| Category | Alternative | Equity | |
| Inception | May 13, 2025 | Oct 20, 2011 |
BFRZ vs SCHD Performance
Innovator Equity Managed 100 Buffer ETF (BFRZ) is a ETF from Innovator ETFs Trust and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year BFRZ returned +5.70% while SCHD returned +32.62%. Year to date, BFRZ is up 1.32% versus a gain of 25.62% for SCHD.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 4.2% for BFRZ. 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 -3.1% for BFRZ 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 -0.06. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BFRZ charges 0.89% per year while SCHD charges 0.06%. On a $10,000 position that is $89 vs $6 annually, a gap of $83 per year that compounds over a long holding period. On income, BFRZ currently yields 0.27% against 3.31% for SCHD.
Holdings Overlap
BFRZ and SCHD share 15 holdings out of 267 unique holdings combined, representing a 7.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BFRZ or SCHD?
BFRZ has an expense ratio of 0.89% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $83 per year of difference.
Which performed better, BFRZ or SCHD?
Over the past year BFRZ returned +5.70% vs +32.62% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (1 years), BFRZ annualized +7.02% vs +11.47% for SCHD. Past performance does not guarantee future results.
Which is riskier, BFRZ or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 4.2% for BFRZ. Worst drawdown: BFRZ -3.1% vs SCHD -33.4%.
Should I hold both BFRZ and SCHD?
BFRZ and SCHD have a monthly-return correlation of -0.06, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BFRZ and SCHD?
BFRZ and SCHD share 15 common holdings with a 7.0% weight overlap. Combined, they hold 267 unique securities.
Which pays a higher dividend, BFRZ or SCHD?
BFRZ yields 0.27% while SCHD yields 3.31%, so SCHD currently pays the higher dividend yield.
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