CVY vs SCHD
Invesco Zacks Multi-Asset Income ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. CVY offers more diversification with 151 holdings.
Side-by-Side Comparison
| Metric | CVY | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 1.21% | 0.06% | |
| AUM | $125M | $108.7B | |
| Dividend Yield | 4.10% | 3.13% | |
| Holdings | 151 | 104 | |
| YTD Return | +15.57% | +26.54% | |
| 1Y Return | +19.83% | +30.90% | |
| 3Y Return (annualized) | +15.25% | +16.29% | |
| 5Y Return (annualized) | +9.09% | +9.65% | |
| Volatility (annualized) | 18.5% | 13.6% | |
| Max Drawdown | -70.5% | -33.4% | |
| Fund Family | Invesco (US) | Charles Schwab Asset Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Sep 21, 2006 | Oct 20, 2011 |
CVY vs SCHD Performance
Invesco Zacks Multi-Asset Income ETF (CVY) is a ETF from Invesco (US) and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year CVY returned +19.83% while SCHD returned +30.90%. Year to date, CVY is up 15.57% versus a gain of 26.54% for SCHD.
Over three years, CVY compounded at +15.25% per year against +16.29% for SCHD; over five years the annualized figures are +9.09% and +9.65% respectively. Across the full 15-year window we track, SCHD has the edge at +11.51% annualized vs +2.13%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CVY has been the more volatile fund, with annualized monthly volatility of 18.5% compared with 13.6% 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 -70.5% for CVY 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 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CVY charges 1.21% per year while SCHD charges 0.06%. On a $10,000 position that is $121 vs $6 annually, a gap of $115 per year that compounds over a long holding period. On income, CVY currently yields 4.10% against 3.13% for SCHD.
Holdings Overlap
CVY and SCHD share 3 holdings out of 246 unique holdings combined, representing a 1.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CVY or SCHD?
CVY has an expense ratio of 1.21% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $115 per year of difference.
Which performed better, CVY or SCHD?
Over the past year CVY returned +19.83% vs +30.90% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), CVY annualized +2.13% vs +11.51% for SCHD. Past performance does not guarantee future results.
Which is riskier, CVY or SCHD?
CVY has been the more volatile fund at 18.5% annualized versus 13.6% for SCHD. Worst drawdown: CVY -70.5% vs SCHD -33.4%.
Should I hold both CVY and SCHD?
CVY and SCHD have a monthly-return correlation of 0.87, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CVY and SCHD?
CVY and SCHD share 3 common holdings with a 1.3% weight overlap. Combined, they hold 246 unique securities.
Which pays a higher dividend, CVY or SCHD?
CVY yields 4.10% while SCHD yields 3.13%, so CVY currently pays the higher dividend yield.
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