CHY vs SCHD
Calamos Convertible and High Income Fund vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. CHY delivered stronger 1-year returns. CHY offers more diversification with 620 holdings.
Side-by-Side Comparison
| Metric | CHY | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 1.84% | 0.06% | |
| AUM | $1.6B | $108.7B | |
| Dividend Yield | 8.17% | 3.13% | |
| Holdings | 620 | 104 | |
| YTD Return | +21.39% | +28.70% | |
| 1Y Return | +33.90% | +32.27% | |
| 3Y Return (annualized) | +17.18% | +17.27% | |
| 5Y Return (annualized) | +5.84% | +10.23% | |
| Volatility (annualized) | 20.3% | 13.7% | |
| Max Drawdown | -66.9% | -33.4% | |
| Fund Family | Calamos Investments | Charles Schwab Asset Management | |
| Category | Convertible | Equity | |
| Inception | May 28, 2003 | Oct 20, 2011 |
CHY vs SCHD Performance
Calamos Convertible and High Income Fund (CHY) is a ETF from Calamos Investments and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year CHY returned +33.90% while SCHD returned +32.27%. Year to date, CHY is up 21.39% versus a gain of 28.70% for SCHD.
Over three years, CHY compounded at +17.18% per year against +17.27% for SCHD; over five years the annualized figures are +5.84% and +10.23% respectively. Across the full 15-year window we track, SCHD has the edge at +11.63% annualized vs +1.59%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CHY has been the more volatile fund, with annualized monthly volatility of 20.3% compared with 13.7% for SCHD. 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 -66.9% for CHY 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 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CHY charges 1.84% per year while SCHD charges 0.06%. On a $10,000 position that is $184 vs $6 annually, a gap of $178 per year that compounds over a long holding period. On income, CHY currently yields 8.17% against 3.13% for SCHD.
Holdings Overlap
CHY and SCHD share 1 holdings out of 610 unique holdings combined, representing a 0.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in CHY | Weight in SCHD | Difference |
|---|---|---|---|
| ARES | 0.89% | 0.72% | 0.17% |
Frequently Asked Questions
Which is cheaper, CHY or SCHD?
CHY has an expense ratio of 1.84% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $178 per year of difference.
Which performed better, CHY or SCHD?
Over the past year CHY returned +33.90% vs +32.27% for SCHD, so CHY leads on 1-year performance. Over the longest common window we track (15 years), CHY annualized +1.59% vs +11.63% for SCHD. Past performance does not guarantee future results.
Which is riskier, CHY or SCHD?
CHY has been the more volatile fund at 20.3% annualized versus 13.7% for SCHD. Worst drawdown: CHY -66.9% vs SCHD -33.4%.
Should I hold both CHY and SCHD?
CHY and SCHD have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CHY and SCHD?
CHY and SCHD share 1 common holdings with a 0.7% weight overlap. Combined, they hold 610 unique securities.
Which pays a higher dividend, CHY or SCHD?
CHY yields 8.17% while SCHD yields 3.13%, so CHY currently pays the higher dividend yield.
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