BIL vs SCHD
State Street SPDR Bloomberg 1-3 Month T-Bill 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 104 holdings.
Side-by-Side Comparison
| Metric | BIL | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.14% | 0.06% | |
| AUM | $46.8B | $108.7B | |
| Dividend Yield | 3.81% | 3.13% | |
| Holdings | 19 | 104 | |
| YTD Return | +2.29% | +27.67% | |
| 1Y Return | +3.73% | +29.56% | |
| 3Y Return (annualized) | +4.39% | +16.53% | |
| 5Y Return (annualized) | +3.51% | +9.95% | |
| Volatility (annualized) | 0.6% | 13.6% | |
| Max Drawdown | -1.2% | -33.4% | |
| Fund Family | State Street Investment Management | Charles Schwab Asset Management | |
| Category | Fixed Income | Equity | |
| Inception | May 25, 2007 | Oct 20, 2011 |
BIL vs SCHD Performance
State Street SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) is a ETF from State Street Investment Management and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year BIL returned +3.73% while SCHD returned +29.56%. Year to date, BIL is up 2.29% versus a gain of 27.67% for SCHD.
Over three years, BIL compounded at +4.39% per year against +16.53% for SCHD; over five years the annualized figures are +3.51% and +9.95% respectively. Across the full 15-year window we track, SCHD has the edge at +11.55% annualized vs +0.89%. 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 0.6% for BIL. 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 -1.2% for BIL 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 -0.01. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BIL charges 0.14% per year while SCHD charges 0.06%. On a $10,000 position that is $14 vs $6 annually, a gap of $8 per year that compounds over a long holding period. On income, BIL currently yields 3.81% against 3.13% for SCHD.
Holdings Overlap
BIL and SCHD share 0 holdings out of 101 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, BIL or SCHD?
BIL has an expense ratio of 0.14% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $8 per year of difference.
Which performed better, BIL or SCHD?
Over the past year BIL returned +3.73% vs +29.56% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), BIL annualized +0.89% vs +11.55% for SCHD. Past performance does not guarantee future results.
Which is riskier, BIL or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 0.6% for BIL. Worst drawdown: BIL -1.2% vs SCHD -33.4%.
Should I hold both BIL and SCHD?
BIL and SCHD have a monthly-return correlation of -0.01, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BIL and SCHD?
BIL and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 101 unique securities.
Which pays a higher dividend, BIL or SCHD?
BIL yields 3.81% while SCHD yields 3.13%, so BIL currently pays the higher dividend yield.
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