ETB vs SCHD
Eaton Vance Tax-Managed Buy-Write Income Fund vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. ETB offers more diversification with 156 holdings.
Side-by-Side Comparison
| Metric | ETB | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 1.12% | 0.06% | |
| AUM | $391M | $108.7B | |
| Dividend Yield | 7.49% | 3.13% | |
| Holdings | 156 | 104 | |
| YTD Return | +7.27% | +26.54% | |
| 1Y Return | +14.04% | +30.90% | |
| 3Y Return (annualized) | +14.58% | +16.29% | |
| 5Y Return (annualized) | +7.40% | +9.65% | |
| Volatility (annualized) | 17.3% | 13.6% | |
| Max Drawdown | -59.4% | -33.4% | |
| Fund Family | Eaton Vance | Charles Schwab Asset Management | |
| Category | Alternative | Equity | |
| Inception | Apr 27, 2005 | Oct 20, 2011 |
ETB vs SCHD Performance
Eaton Vance Tax-Managed Buy-Write Income Fund (ETB) is a ETF from Eaton Vance and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year ETB returned +14.04% while SCHD returned +30.90%. Year to date, ETB is up 7.27% versus a gain of 26.54% for SCHD.
Over three years, ETB compounded at +14.58% per year against +16.29% for SCHD; over five years the annualized figures are +7.40% and +9.65% respectively. Across the full 15-year window we track, SCHD has the edge at +11.51% annualized vs +1.03%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETB has been the more volatile fund, with annualized monthly volatility of 17.3% 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 -59.4% for ETB 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 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ETB charges 1.12% per year while SCHD charges 0.06%. On a $10,000 position that is $112 vs $6 annually, a gap of $106 per year that compounds over a long holding period. On income, ETB currently yields 7.49% against 3.13% for SCHD.
Holdings Overlap
ETB and SCHD share 19 holdings out of 226 unique holdings combined, representing a 9.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, ETB or SCHD?
ETB has an expense ratio of 1.12% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $106 per year of difference.
Which performed better, ETB or SCHD?
Over the past year ETB returned +14.04% vs +30.90% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), ETB annualized +1.03% vs +11.51% for SCHD. Past performance does not guarantee future results.
Which is riskier, ETB or SCHD?
ETB has been the more volatile fund at 17.3% annualized versus 13.6% for SCHD. Worst drawdown: ETB -59.4% vs SCHD -33.4%.
Should I hold both ETB and SCHD?
ETB and SCHD have a monthly-return correlation of 0.70, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETB and SCHD?
ETB and SCHD share 19 common holdings with a 9.8% weight overlap. Combined, they hold 226 unique securities.
Which pays a higher dividend, ETB or SCHD?
ETB yields 7.49% while SCHD yields 3.13%, so ETB currently pays the higher dividend yield.
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