CEFZ vs SCHD
RiverNorth Active Income 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 104 holdings.
Side-by-Side Comparison
| Metric | CEFZ | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 2.82% | 0.06% | |
| AUM | $42M | $108.7B | |
| Dividend Yield | 11.00% | 3.13% | |
| Holdings | 51 | 104 | |
| YTD Return | +1.90% | +25.69% | |
| 1Y Return | +7.94% | +30.41% | |
| 3Y Return (annualized) | - | +16.03% | |
| 5Y Return (annualized) | - | +9.64% | |
| Volatility (annualized) | 9.6% | 13.6% | |
| Max Drawdown | -8.3% | -33.4% | |
| Fund Family | RiverNorth | Charles Schwab Asset Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Dec 27, 2006 | Oct 20, 2011 |
CEFZ vs SCHD Performance
RiverNorth Active Income ETF (CEFZ) is a ETF from RiverNorth and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year CEFZ returned +7.94% while SCHD returned +30.41%. Year to date, CEFZ is up 1.90% versus a gain of 25.69% for SCHD.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 9.6% 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 -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 0.28. They move independently enough that combining them can meaningfully diversify a portfolio.
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
CEFZ and SCHD share 0 holdings out of 147 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, CEFZ or SCHD?
CEFZ has an expense ratio of 2.82% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $276 per year of difference.
Which performed better, CEFZ or SCHD?
Over the past year CEFZ returned +7.94% vs +30.41% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (1 years), CEFZ annualized +8.71% vs +11.46% for SCHD. Past performance does not guarantee future results.
Which is riskier, CEFZ or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 9.6% for CEFZ. Worst drawdown: CEFZ -8.3% vs SCHD -33.4%.
Should I hold both CEFZ and SCHD?
CEFZ and SCHD have a monthly-return correlation of 0.28, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CEFZ and SCHD?
CEFZ and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 147 unique securities.
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.
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