CDX vs SCHD
Simplify High Yield ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. CDX offers more diversification with 156 holdings.
Side-by-Side Comparison
| Metric | CDX | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.06% | |
| AUM | $377M | $103.7B | |
| Dividend Yield | 8.31% | 3.31% | |
| Holdings | 227 | 104 | |
| YTD Return | -1.94% | +24.26% | |
| 1Y Return | -3.14% | +31.38% | |
| 3Y Return (annualized) | +7.23% | +15.08% | |
| 5Y Return (annualized) | - | +9.72% | |
| Volatility (annualized) | 7.5% | 13.6% | |
| Max Drawdown | -13.2% | -33.4% | |
| Fund Family | Simplify Exchange Traded Funds | Charles Schwab Asset Management | |
| Category | Fixed Income | Equity | |
| Inception | Feb 14, 2022 | Oct 20, 2011 |
CDX vs SCHD Performance
Simplify High Yield ETF (CDX) is a ETF from Simplify Exchange Traded Funds and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year CDX returned -3.14% while SCHD returned +31.38%. Year to date, CDX is down 1.94% versus a gain of 24.26% for SCHD.
Over three years, CDX compounded at +7.23% per year against +15.08% for SCHD. Across the full 5-year window we track, SCHD has the edge at +11.39% annualized vs +4.05%. 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 7.5% for CDX. 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 -13.2% for CDX 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 0.45. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CDX charges 0.25% per year while SCHD charges 0.06%. On a $10,000 position that is $25 vs $6 annually, a gap of $19 per year that compounds over a long holding period. On income, CDX currently yields 8.31% against 3.31% for SCHD.
Holdings Overlap
CDX and SCHD share 10 holdings out of 246 unique holdings combined, representing a 1.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CDX or SCHD?
CDX has an expense ratio of 0.25% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $19 per year of difference.
Which performed better, CDX or SCHD?
Over the past year CDX returned -3.14% vs +31.38% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (5 years), CDX annualized +4.05% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, CDX or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 7.5% for CDX. Worst drawdown: CDX -13.2% vs SCHD -33.4%.
Should I hold both CDX and SCHD?
CDX and SCHD have a monthly-return correlation of 0.45, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CDX and SCHD?
CDX and SCHD share 10 common holdings with a 1.5% weight overlap. Combined, they hold 246 unique securities.
Which pays a higher dividend, CDX or SCHD?
CDX yields 8.31% while SCHD yields 3.31%, so CDX currently pays the higher dividend yield.
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