BOCT vs SCHD
Innovator U.S. Equity Buffer ETF - October vs Schwab US Dividend Equity ETF
Which is better, BOCT or SCHD?
Option Writing against Large Cap Value.
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window. BOCT is less concentrated, with 38.4% of the fund in its ten largest positions against 41.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BOCT | SCHD |
|---|---|---|
| Expense Ratio | 0.79% | 0.06%Best |
| AUM | $349M | $119.9B |
| Dividend Yield | 0.00% | 2.96% |
| Holdings | 1,015 | 204 |
| YTD Return | +11.37% | +33.09%Best |
| 1Y Return | +12.32% | +37.17%Best |
| 3Y Return (annualized) | +14.85% | +20.32%Best |
| 5Y Return (annualized) | +10.04% | +10.36%Best |
| Volatility (annualized) | 11.1%Best | 16.8% |
| Max Drawdown | -24.5%Best | -33.4% |
| $10,000 over 5 years | $16,134 | $16,370Best |
| Top 10 Weight | 38.4%Best | 41.8% |
| Fund Family | Innovator ETFs Trust | Charles Schwab Asset Management |
| Category | Alternative | Equity |
| Style | Option Writing | Large Cap Value |
| Inception | Sep 28, 2018 | Oct 20, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Oct 1, 2018 to Nov 11, 2026 (8.1 years).
BOCT vs SCHD growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 8.1 years both funds cover.
BOCT vs SCHD Performance
Innovator U.S. Equity Buffer ETF - October (BOCT) is an ETF from Innovator ETFs Trust and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year BOCT returned +12.32% while SCHD returned +37.17%. Year to date, BOCT is up 11.37% versus a gain of 33.09% for SCHD.
Over three years, BOCT compounded at +14.85% per year against +20.32% for SCHD; over five years the annualized figures are +10.04% and +10.36% respectively. Across the full 8-year window we track, SCHD has the edge at +11.87% annualized vs +10.47%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 16.8% compared with 11.1% for BOCT. 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 -24.5% for BOCT and -33.4% for SCHD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BOCT charges 0.79% per year while SCHD charges 0.06%. On a $10,000 position that is $79 vs $6 annually, a gap of $73 per year that compounds over a long holding period. On income, BOCT currently yields 0.00% against 2.96% for SCHD.
Holdings Overlap
7.8% of BOCT's money is in holdings SCHD also owns. 94.8% of SCHD's money is in holdings BOCT also owns.
Most of SCHD is already inside BOCT. Owning both mostly buys the same companies twice.
45 positions in common, counted across the 496 positions we hold weights for in BOCT and 98 in SCHD, against full books of 1,015 and 204.
What only one of them owns
Our book lists 52 positions for SCHD that do not appear in our book for BOCT (4.9% of the fund), and 451 for BOCT that do not appear in SCHD (91.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in BOCT | Weight in SCHD | Difference |
|---|---|---|---|
| CVXChevron Corp | 0.65% | 4.32% | 3.67% |
| TXNTexas Instrument Inc | 0.38% | 4.53% | 4.15% |
| PGProcter & Gamble Company | 0.54% | 4.36% | 3.82% |
| KOCoca Cola Co. | 0.53% | 4.28% | 3.75% |
| UNHUnitedhealth Group Incorporated | 0.53% | 4.07% | 3.54% |
| MRKMerck & Company Inc | 0.54% | 4.00% | 3.46% |
| COPConocophillips Common Stock USD 0.01 | 0.25% | 4.27% | 4.02% |
| QCOMQualcomm Inc. | 0.27% | 4.18% | 3.91% |
| AMGNAmgen Inc. | 0.34% | 3.96% | 3.62% |
| HDHome Depot Inc | 0.44% | 3.82% | 3.38% |
94.8% of SCHD is already inside BOCT.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BOCT or SCHD?
BOCT has an expense ratio of 0.79% while SCHD charges 0.06%. SCHD is the cheaper option, by $73 a year on a $10,000 investment.
Which performed better, BOCT or SCHD?
Over the past year BOCT returned +12.32% vs +37.17% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (8 years), BOCT annualized +10.47% vs +11.87% for SCHD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BOCT or SCHD?
SCHD has been the more volatile fund at 16.8% annualized versus 11.1% for BOCT. Worst drawdown: BOCT -24.5% vs SCHD -33.4%.
Should I hold both BOCT and SCHD?
BOCT and SCHD have a monthly-return correlation of 0.78, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between BOCT and SCHD?
94.8% of SCHD's money is in holdings BOCT also owns. 94.8% of SCHD's is in holdings BOCT also owns. They hold 45 positions in common, counted across the 496 positions we hold weights for in BOCT and 98 in SCHD.
Which pays a higher dividend, BOCT or SCHD?
BOCT yields 0.00% while SCHD yields 2.96%, so SCHD currently pays the higher dividend yield.
Is SCHD better than BOCT?
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window. BOCT is less concentrated, with 38.4% of the fund in its ten largest positions against 41.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.