ETJ vs SCHD
Eaton Vance Risk-Managed Diversified Equity Income Fund vs Schwab US Dividend Equity ETF
Which is better, ETJ or SCHD?
Multi Alternative against Large Cap Value.
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window. SCHD is less concentrated, with 41.5% of the fund in its ten largest positions against 47.0%.
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 | ETJ | SCHD |
|---|---|---|
| Expense Ratio | 1.11% | 0.06%Best |
| AUM | $544M | $112.2B |
| Dividend Yield | 8.49% | 3.13% |
| Holdings | 74 | 103 |
| YTD Return | +1.47% | +27.56%Best |
| 1Y Return | +1.51% | +30.29%Best |
| 3Y Return (annualized) | +10.99% | +16.37%Best |
| 5Y Return (annualized) | +4.15% | +10.23%Best |
| Volatility (annualized) | 12.2%Best | 13.6% |
| Max Drawdown | -44.9% | -33.4%Best |
| $10,000 over 5 years | $12,255 | $16,274Best |
| Top 10 Weight | 47.0% | 41.5%Best |
| Fund Family | Eaton Vance | Charles Schwab Asset Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Value |
| Inception | Jul 31, 2007 | Oct 20, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Oct 20, 2011 to Sep 4, 2026 (14.9 years).
ETJ 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.
ETJ vs SCHD Performance
Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ) is an ETF from Eaton Vance and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year ETJ returned +1.51% while SCHD returned +30.29%. Year to date, ETJ is up 1.47% versus a gain of 27.56% for SCHD.
Over three years, ETJ compounded at +10.99% per year against +16.37% for SCHD; over five years the annualized figures are +4.15% and +10.23% respectively. Across the full 15-year window we track, SCHD has the edge at +11.53% annualized vs +1.68%.
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 12.2% for ETJ. 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 -44.9% for ETJ 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 0.63. They move together some of the time, and apart the rest.
Fees and Cost Over Time
ETJ charges 1.11% per year while SCHD charges 0.06%. On a $10,000 position that is $111 vs $6 annually, a gap of $105 per year that compounds over a long holding period. On income, ETJ currently yields 8.49% against 3.13% for SCHD.
Holdings Overlap
5.8% of ETJ's money is in holdings SCHD also owns. 9.3% of SCHD's money is in holdings ETJ also owns.
SCHD and ETJ share little of their money.
The two holdings books were reported 129 days apart, ETJ as of Mar 31, 2026 and SCHD as of Aug 7, 2026, so some of the difference between them is the time between the two reports rather than the funds.
3 positions in common, counted across the 51 positions we hold weights for in ETJ and 100 in SCHD, against full books of 74 and 103.
What only one of them owns
Our book lists 96 positions for SCHD that do not appear in our book for ETJ (90.6% of the fund), and 43 for ETJ that do not appear in SCHD (88.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of ETJ 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, ETJ or SCHD?
ETJ has an expense ratio of 1.11% while SCHD charges 0.06%. SCHD is the cheaper option, by $105 a year on a $10,000 investment.
Which performed better, ETJ or SCHD?
Over the past year ETJ returned +1.51% vs +30.29% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), ETJ annualized +1.68% vs +11.53% for SCHD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ETJ or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 12.2% for ETJ. Worst drawdown: ETJ -44.9% vs SCHD -33.4%.
Should I hold both ETJ and SCHD?
ETJ and SCHD have a monthly-return correlation of 0.63, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between ETJ and SCHD?
9.3% of SCHD's money is in holdings ETJ also owns. 9.3% of SCHD's is in holdings ETJ also owns. They hold 3 positions in common, counted across the 51 positions we hold weights for in ETJ and 100 in SCHD.
Which pays a higher dividend, ETJ or SCHD?
ETJ yields 8.49% while SCHD yields 3.13%, so ETJ currently pays the higher dividend yield.
Is SCHD better than ETJ?
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window. SCHD is less concentrated, with 41.5% of the fund in its ten largest positions against 47.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.