ETV vs SCHD
Eaton Vance Tax-Managed Buy-Write Opportunities Fund vs Schwab US Dividend Equity ETF
Which is better, ETV 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 45.9%.
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 | ETV | SCHD |
|---|---|---|
| Expense Ratio | 1.08% | 0.06%Best |
| AUM | $1.3B | $112.2B |
| Dividend Yield | 7.57% | 3.13% |
| Holdings | 174 | 103 |
| YTD Return | +12.80% | +28.59%Best |
| 1Y Return | +18.99% | +31.77%Best |
| 3Y Return (annualized) | +15.64% | +16.70%Best |
| 5Y Return (annualized) | +7.19% | +10.09%Best |
| Volatility (annualized) | 13.8% | 13.6%Best |
| Max Drawdown | -46.8% | -33.4%Best |
| $10,000 over 5 years | $14,150 | $16,171Best |
| Top 10 Weight | 45.9% | 41.5%Best |
| Fund Family | Eaton Vance | Charles Schwab Asset Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Value |
| Inception | Jun 27, 2005 | Oct 20, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Oct 20, 2011 to Sep 3, 2026 (14.9 years).
ETV 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.
ETV vs SCHD Performance
Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) 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 ETV returned +18.99% while SCHD returned +31.77%. Year to date, ETV is up 12.80% versus a gain of 28.59% for SCHD.
Over three years, ETV compounded at +15.64% per year against +16.70% for SCHD; over five years the annualized figures are +7.19% and +10.09% respectively. Across the full 15-year window we track, SCHD has the edge at +11.59% annualized vs +5.33%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETV has been the more volatile fund, with annualized monthly volatility of 13.8% 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 -46.8% for ETV 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 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ETV charges 1.08% per year while SCHD charges 0.06%. On a $10,000 position that is $108 vs $6 annually, a gap of $102 per year that compounds over a long holding period. On income, ETV currently yields 7.57% against 3.13% for SCHD.
Holdings Overlap
9.3% of ETV's money is in holdings SCHD also owns. 56.0% of SCHD's money is in holdings ETV also owns.
The two portfolios partly overlap.
The two holdings books were reported 129 days apart, ETV 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.
21 positions in common, counted across the 151 positions we hold weights for in ETV and 100 in SCHD, against full books of 174 and 103.
What only one of them owns
Our book lists 78 positions for SCHD that do not appear in our book for ETV (43.9% of the fund), and 125 for ETV that do not appear in SCHD (88.9%).
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.
Top Shared Holdings
| Stock | Weight in ETV | Weight in SCHD | Difference |
|---|---|---|---|
| AMGNAmgen Inc. | 1.06% | 4.62% | 3.56% |
| HDHome Depot Inc/The | 0.80% | 4.32% | 3.52% |
| KOCoca Cola Co. | 0.67% | 4.20% | 3.53% |
| UNHUnitedhealth Group Incorporated | 0.43% | 4.11% | 3.68% |
| MRKMerck & Company Inc | 0.18% | 4.26% | 4.08% |
| CVXChevron Corp | 0.67% | 3.74% | 3.07% |
| TXNTexas Instrument Inc | 0.79% | 3.53% | 2.74% |
| PEPPepsico Inc. | 0.45% | 3.71% | 3.26% |
| VZVerizon Communic | 0.24% | 3.84% | 3.60% |
| PGProcter & Gamble Company | 0.12% | 3.96% | 3.84% |
56.0% of SCHD is already inside ETV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, ETV or SCHD?
ETV has an expense ratio of 1.08% while SCHD charges 0.06%. SCHD is the cheaper option, by $102 a year on a $10,000 investment.
Which performed better, ETV or SCHD?
Over the past year ETV returned +18.99% vs +31.77% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), ETV annualized +5.33% vs +11.59% for SCHD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ETV or SCHD?
ETV has been the more volatile fund at 13.8% annualized versus 13.6% for SCHD. Worst drawdown: ETV -46.8% vs SCHD -33.4%.
Should I hold both ETV and SCHD?
ETV and SCHD have a monthly-return correlation of 0.71, 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 ETV and SCHD?
56.0% of SCHD's money is in holdings ETV also owns. 56.0% of SCHD's is in holdings ETV also owns. They hold 21 positions in common, counted across the 151 positions we hold weights for in ETV and 100 in SCHD.
Which pays a higher dividend, ETV or SCHD?
ETV yields 7.57% while SCHD yields 3.13%, so ETV currently pays the higher dividend yield.
Is SCHD better than ETV?
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 45.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.