CALI vs SCHD
iShares Short-Term California Muni Active 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 | CALI | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.06% | |
| AUM | $443M | $103.7B | |
| Dividend Yield | 2.52% | 3.31% | |
| Holdings | 194 | 104 | |
| YTD Return | +0.96% | +24.26% | |
| 1Y Return | +2.05% | +31.38% | |
| 3Y Return (annualized) | +3.72% | +15.08% | |
| 5Y Return (annualized) | - | +9.72% | |
| Volatility (annualized) | 1.1% | 13.6% | |
| Max Drawdown | -0.8% | -33.4% | |
| Fund Family | BlackRock, Inc. (US) | Charles Schwab Asset Management | |
| Category | Fixed Income | Equity | |
| Inception | Jul 11, 2023 | Oct 20, 2011 |
CALI vs SCHD Performance
iShares Short-Term California Muni Active ETF (CALI) is a ETF from BlackRock, Inc. (US) and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year CALI returned +2.05% while SCHD returned +31.38%. Year to date, CALI is up 0.96% versus a gain of 24.26% for SCHD.
Over three years, CALI compounded at +3.72% per year against +15.08% for SCHD. Across the full 3-year window we track, SCHD has the edge at +11.39% annualized vs +3.72%. 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 1.1% for CALI. 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 -0.8% for CALI 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 0.59. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CALI charges 0.20% per year while SCHD charges 0.06%. On a $10,000 position that is $20 vs $6 annually, a gap of $14 per year that compounds over a long holding period. On income, CALI currently yields 2.52% against 3.31% for SCHD.
Holdings Overlap
CALI and SCHD share 0 holdings out of 131 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, CALI or SCHD?
CALI has an expense ratio of 0.20% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $14 per year of difference.
Which performed better, CALI or SCHD?
Over the past year CALI returned +2.05% vs +31.38% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (3 years), CALI annualized +3.72% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, CALI or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 1.1% for CALI. Worst drawdown: CALI -0.8% vs SCHD -33.4%.
Should I hold both CALI and SCHD?
CALI and SCHD have a monthly-return correlation of 0.59, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CALI and SCHD?
CALI and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 131 unique securities.
Which pays a higher dividend, CALI or SCHD?
CALI yields 2.52% while SCHD yields 3.31%, so SCHD currently pays the higher dividend yield.
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