DLY vs SCHD
DLY vs SCHD
DoubleLine Yield Opportunities Fund 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 | DLY | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 3.38% | 0.06% | |
| AUM | $735M | $103.7B | |
| Dividend Yield | 9.24% | 3.31% | |
| Holdings | 490 | 104 | |
| YTD Return | +2.91% | +24.26% | |
| 1Y Return | +1.40% | +31.38% | |
| 3Y Return (annualized) | +8.35% | +15.08% | |
| 5Y Return (annualized) | +2.60% | +9.72% | |
| Volatility (annualized) | 13.3% | 13.6% | |
| Max Drawdown | -28.6% | -33.4% | |
| Fund Family | DoubleLine Funds | Charles Schwab Asset Management | |
| Category | Fixed Income | Equity | |
| Inception | Feb 26, 2020 | Oct 20, 2011 |
DLY vs SCHD Performance
DoubleLine Yield Opportunities Fund (DLY) is a ETF from DoubleLine Funds and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year DLY returned +1.40% while SCHD returned +31.38%. Year to date, DLY is up 2.91% versus a gain of 24.26% for SCHD.
Over three years, DLY compounded at +8.35% per year against +15.08% for SCHD; over five years the annualized figures are +2.60% and +9.72% respectively. Across the full 6-year window we track, SCHD has the edge at +11.39% annualized vs +2.27%. 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 13.3% for DLY. 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 -28.6% for DLY 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 0.46. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DLY charges 3.38% per year while SCHD charges 0.06%. On a $10,000 position that is $338 vs $6 annually, a gap of $332 per year that compounds over a long holding period. On income, DLY currently yields 9.24% against 3.31% for SCHD.
Holdings Overlap
DLY and SCHD share 0 holdings out of 101 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, DLY or SCHD?
DLY has an expense ratio of 3.38% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $332 per year of difference.
Which performed better, DLY or SCHD?
Over the past year DLY returned +1.40% vs +31.38% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (6 years), DLY annualized +2.27% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, DLY or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 13.3% for DLY. Worst drawdown: DLY -28.6% vs SCHD -33.4%.
Should I hold both DLY and SCHD?
DLY and SCHD have a monthly-return correlation of 0.46, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DLY and SCHD?
DLY and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 101 unique securities.
Which pays a higher dividend, DLY or SCHD?
DLY yields 9.24% while SCHD yields 3.31%, so DLY currently pays the higher dividend yield.
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