DWAS vs SCHD
Invesco Dorsey Wright SmallCap Momentum ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. DWAS delivered stronger 1-year returns. DWAS offers more diversification with 199 holdings.
Side-by-Side Comparison
| Metric | DWAS | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.60% | 0.06% | |
| AUM | $434M | $103.7B | |
| Dividend Yield | 0.00% | 3.31% | |
| Holdings | 202 | 104 | |
| YTD Return | +22.64% | +24.26% | |
| 1Y Return | +38.85% | +31.38% | |
| 3Y Return (annualized) | +14.45% | +15.08% | |
| 5Y Return (annualized) | +7.38% | +9.72% | |
| Volatility (annualized) | 21.3% | 13.6% | |
| Max Drawdown | -46.2% | -33.4% | |
| Fund Family | Invesco (US) | Charles Schwab Asset Management | |
| Category | Equity | Equity | |
| Inception | Jul 19, 2012 | Oct 20, 2011 |
DWAS vs SCHD Performance
Invesco Dorsey Wright SmallCap Momentum ETF (DWAS) 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 DWAS returned +38.85% while SCHD returned +31.38%. Year to date, DWAS is up 22.64% versus a gain of 24.26% for SCHD.
Over three years, DWAS compounded at +14.45% per year against +15.08% for SCHD; over five years the annualized figures are +7.38% and +9.72% respectively. Across the full 14-year window we track, DWAS has the edge at +12.13% annualized vs +11.39%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DWAS has been the more volatile fund, with annualized monthly volatility of 21.3% 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 -46.2% for DWAS 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DWAS charges 0.60% per year while SCHD charges 0.06%. On a $10,000 position that is $60 vs $6 annually, a gap of $54 per year that compounds over a long holding period. On income, DWAS currently yields 0.00% against 3.31% for SCHD.
Holdings Overlap
DWAS and SCHD share 0 holdings out of 299 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, DWAS or SCHD?
DWAS has an expense ratio of 0.60% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $54 per year of difference.
Which performed better, DWAS or SCHD?
Over the past year DWAS returned +38.85% vs +31.38% for SCHD, so DWAS leads on 1-year performance. Over the longest common window we track (14 years), DWAS annualized +12.13% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, DWAS or SCHD?
DWAS has been the more volatile fund at 21.3% annualized versus 13.6% for SCHD. Worst drawdown: DWAS -46.2% vs SCHD -33.4%.
Should I hold both DWAS and SCHD?
DWAS and SCHD have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DWAS and SCHD?
DWAS and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 299 unique securities.
Which pays a higher dividend, DWAS or SCHD?
DWAS yields 0.00% while SCHD yields 3.31%, so SCHD currently pays the higher dividend yield.
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