CWB vs SCHD
State Street SPDR Bloomberg Convertible Securities ETF vs Schwab US Dividend Equity ETF
Which is better, CWB or SCHD?
Convertibles against Large Cap Value.
SCHD has a lower expense ratio. CWB led over 3Y, SCHD over 1Y, 5Y and the full window.
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 | CWB | SCHD |
|---|---|---|
| Expense Ratio | 0.40% | 0.06%Best |
| AUM | $5.5B | $112.1B |
| Dividend Yield | 1.53% | 3.00% |
| Holdings | 345 | 103 |
| YTD Return | +12.07% | +24.04%Best |
| 1Y Return | +14.55% | +27.95%Best |
| 3Y Return (annualized) | +15.64%Best | +15.51% |
| 5Y Return (annualized) | +4.89% | +9.80%Best |
| Volatility (annualized) | 12.9%Best | 13.6% |
| Max Drawdown | -32.2%Best | -33.4% |
| $10,000 over 5 years | $12,696 | $15,959Best |
| Fund Family | State Street Investment Management | Charles Schwab Asset Management |
| Category | Convertible | Equity |
| Style | Convertibles | Large Cap Value |
| Inception | Apr 14, 2009 | Oct 20, 2011 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Oct 20, 2011 to Sep 16, 2026 (14.9 years).
CWB 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 14.9 years both funds cover.
CWB vs SCHD Performance
State Street SPDR Bloomberg Convertible Securities ETF (CWB) is an ETF from State Street Investment Management and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year CWB returned +14.55% while SCHD returned +27.95%. Year to date, CWB is up 12.07% versus a gain of 24.04% for SCHD.
Over three years, CWB compounded at +15.64% per year against +15.51% for SCHD; over five years the annualized figures are +4.89% and +9.80% respectively. Across the full 15-year window we track, SCHD has the edge at +11.29% annualized vs +7.74%.
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 12.9% for CWB. 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 -32.2% for CWB and -33.4% 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 0.68. They move together some of the time, and apart the rest.
Fees and Cost Over Time
CWB charges 0.40% per year while SCHD charges 0.06%. On a $10,000 position that is $40 vs $6 annually, a gap of $34 per year that compounds over a long holding period. On income, CWB currently yields 1.53% against 3.00% for SCHD.
Holdings Overlap
At least 0.7% of SCHD's money is in holdings CWB also owns.
Stated as a floor: for CWB, our book for it covers 15.0% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 30 positions we hold weights for in CWB and 100 in SCHD, against full books of 345 and 103.
Top Shared Holdings
| Stock | Weight in CWB | Weight in SCHD | Difference |
|---|---|---|---|
| ARESAres Management Corp A | 0.32% | 0.74% | 0.42% |
You are not choosing between two funds in isolation.
Whichever of CWB 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, CWB or SCHD?
CWB has an expense ratio of 0.40% while SCHD charges 0.06%. SCHD is the cheaper option, by $34 a year on a $10,000 investment.
Which performed better, CWB or SCHD?
Over the past year CWB returned +14.55% vs +27.95% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), CWB annualized +7.74% vs +11.29% for SCHD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CWB or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 12.9% for CWB. Worst drawdown: CWB -32.2% vs SCHD -33.4%.
Should I hold both CWB and SCHD?
CWB and SCHD have a monthly-return correlation of 0.68, 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, CWB or SCHD?
CWB yields 1.53% while SCHD yields 3.00%, so SCHD currently pays the higher dividend yield.
Is SCHD better than CWB?
SCHD has a lower expense ratio. CWB led over 3Y, SCHD over 1Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.