BIL vs SCHD
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 100 holdings.
Side-by-Side Comparison
| Metric | BIL | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.14% | 0.06% | |
| AUM | $47.2B | $103.7B | |
| Dividend Yield | 3.85% | 3.31% | |
| Holdings | 20 | 104 | |
| YTD Return | +1.82% | +24.26% | |
| 1Y Return | +3.49% | +31.38% | |
| 3Y Return (annualized) | +4.33% | +15.08% | |
| 5Y Return (annualized) | +3.41% | +9.72% | |
| 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 +3.49% while SCHD returned +31.38%. Year to date, BIL is up 1.82% versus a gain of 24.26% for SCHD.
Over three years, BIL compounded at +4.33% per year against +15.08% for SCHD; over five years the annualized figures are +3.41% and +9.72% respectively. Across the full 15-year window we track, SCHD has the edge at +11.39% annualized vs +0.87%. 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 3.85% against 3.31% 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 +3.49% vs +31.38% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), BIL annualized +0.87% vs +11.39% 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 3.85% while SCHD yields 3.31%, so BIL currently pays the higher dividend yield.
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