CEFZ vs SCHD
RiverNorth Active Income ETF vs Schwab US Dividend Equity ETF
Which is better, CEFZ or SCHD?
Allocation/Balanced against Large Cap Value.
SCHD has a lower expense ratio. SCHD led over 1Y and the full window. SCHD is less concentrated, with 41.5% of the fund in its ten largest positions against 50.7%.
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 | CEFZ | SCHD |
|---|---|---|
| Expense Ratio | 2.82% | 0.06%Best |
| AUM | $43M | $112.2B |
| Dividend Yield | 11.00% | 3.13% |
| Holdings | 51 | 103 |
| YTD Return | -0.08% | +27.56%Best |
| 1Y Return | +3.61% | +30.29%Best |
| 3Y Return (annualized) | - | +16.37% |
| 5Y Return (annualized) | - | +10.23% |
| Volatility (annualized) | 8.8%Best | 12.7% |
| Max Drawdown | -8.3% | -4.6%Best |
| $10,000 over 1.1 years | $10,701 | $13,618Best |
| Top 10 Weight | 50.7% | 41.5%Best |
| Fund Family | RiverNorth | Charles Schwab Asset Management |
| Category | Allocation/Balanced | Equity |
| Style | Allocation/Balanced | Large Cap Value |
| Inception | Dec 27, 2006 | Oct 20, 2011 |
Volatility and max drawdown, and the $10,000 over 1.1 years row, are measured over the window both funds cover: Aug 4, 2025 to Sep 4, 2026 (1.1 years).
CEFZ 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 1.1 years both funds cover.
CEFZ vs SCHD Performance
RiverNorth Active Income ETF (CEFZ) is an ETF from RiverNorth and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year CEFZ returned +3.61% while SCHD returned +30.29%. Year to date, CEFZ is down 0.08% versus a gain of 27.56% for SCHD.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 12.7% compared with 8.8% for CEFZ. 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 -8.3% for CEFZ and -4.6% 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 0.33. They move together some of the time, and apart the rest.
Fees and Cost Over Time
CEFZ charges 2.82% per year while SCHD charges 0.06%. On a $10,000 position that is $282 vs $6 annually, a gap of $276 per year that compounds over a long holding period. On income, CEFZ currently yields 11.00% against 3.13% for SCHD.
Holdings Overlap
We hold position weights for 48 holdings in CEFZ and 100 in SCHD, totalling 99.7% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 48 positions we hold weights for in CEFZ and 100 in SCHD, against full books of 51 and 103.
What only one of them owns
Our book lists 98 positions for SCHD that do not appear in our book for CEFZ (99.7% of the fund), and 46 for CEFZ that do not appear in SCHD (95.3%).
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.
You are not choosing between two funds in isolation.
Whichever of CEFZ and SCHD you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CEFZ or SCHD?
CEFZ has an expense ratio of 2.82% while SCHD charges 0.06%. SCHD is the cheaper option, by $276 a year on a $10,000 investment.
Which performed better, CEFZ or SCHD?
Over the past year CEFZ returned +3.61% vs +30.29% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (1 years), CEFZ annualized +6.35% vs +32.41% for SCHD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CEFZ or SCHD?
SCHD has been the more volatile fund at 12.7% annualized versus 8.8% for CEFZ. Worst drawdown: CEFZ -8.3% vs SCHD -4.6%.
Should I hold both CEFZ and SCHD?
CEFZ and SCHD have a monthly-return correlation of 0.33, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, CEFZ or SCHD?
CEFZ yields 11.00% while SCHD yields 3.13%, so CEFZ currently pays the higher dividend yield.
Is SCHD better than CEFZ?
SCHD has a lower expense ratio. SCHD led over 1Y and the full window. SCHD is less concentrated, with 41.5% of the fund in its ten largest positions against 50.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.