DFCA vs SCHD
DFCA vs SCHD
Dimensional California Municipal Bond 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 100 holdings.
Side-by-Side Comparison
| Metric | DFCA | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.19% | 0.06% | |
| AUM | $707M | $103.7B | |
| Dividend Yield | 2.73% | 3.31% | |
| Holdings | 434 | 104 | |
| YTD Return | +0.67% | +24.26% | |
| 1Y Return | +3.71% | +31.38% | |
| 3Y Return (annualized) | +2.75% | +15.08% | |
| 5Y Return (annualized) | - | +9.72% | |
| Volatility (annualized) | 3.2% | 13.6% | |
| Max Drawdown | -3.3% | -33.4% | |
| Fund Family | Dimensional | Charles Schwab Asset Management | |
| Category | Tax Preferred | Equity | |
| Inception | Jun 26, 2023 | Oct 20, 2011 |
DFCA vs SCHD Performance
Dimensional California Municipal Bond ETF (DFCA) is a ETF from Dimensional and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year DFCA returned +3.71% while SCHD returned +31.38%. Year to date, DFCA is up 0.67% versus a gain of 24.26% for SCHD.
Over three years, DFCA compounded at +2.75% per year against +15.08% for SCHD. Across the full 3-year window we track, SCHD has the edge at +11.39% annualized vs +2.51%. 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 3.2% for DFCA. 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 -3.3% for DFCA 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 0.56. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DFCA charges 0.19% per year while SCHD charges 0.06%. On a $10,000 position that is $19 vs $6 annually, a gap of $13 per year that compounds over a long holding period. On income, DFCA currently yields 2.73% against 3.31% for SCHD.
Holdings Overlap
DFCA and SCHD share 0 holdings out of 188 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, DFCA or SCHD?
DFCA has an expense ratio of 0.19% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $13 per year of difference.
Which performed better, DFCA or SCHD?
Over the past year DFCA returned +3.71% vs +31.38% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (3 years), DFCA annualized +2.51% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, DFCA or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 3.2% for DFCA. Worst drawdown: DFCA -3.3% vs SCHD -33.4%.
Should I hold both DFCA and SCHD?
DFCA and SCHD have a monthly-return correlation of 0.56, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DFCA and SCHD?
DFCA and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 188 unique securities.
Which pays a higher dividend, DFCA or SCHD?
DFCA yields 2.73% while SCHD yields 3.31%, so SCHD currently pays the higher dividend yield.
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