ETV vs SCHD
Eaton Vance Tax-Managed Buy-Write Opportunities Fund vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. ETV offers more diversification with 151 holdings.
Side-by-Side Comparison
| Metric | ETV | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 1.08% | 0.06% | |
| AUM | $1.3B | $103.7B | |
| Dividend Yield | 7.53% | 3.31% | |
| Holdings | 174 | 104 | |
| YTD Return | +10.82% | +25.33% | |
| 1Y Return | +17.65% | +32.31% | |
| 3Y Return (annualized) | +14.19% | +15.40% | |
| 5Y Return (annualized) | +6.94% | +9.70% | |
| Volatility (annualized) | 15.3% | 13.6% | |
| Max Drawdown | -59.8% | -33.4% | |
| Fund Family | Eaton Vance | Charles Schwab Asset Management | |
| Category | Alternative | Equity | |
| Inception | Jun 27, 2005 | Oct 20, 2011 |
ETV vs SCHD Performance
Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) 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 ETV returned +17.65% while SCHD returned +32.31%. Year to date, ETV is up 10.82% versus a gain of 25.33% for SCHD.
Over three years, ETV compounded at +14.19% per year against +15.40% for SCHD; over five years the annualized figures are +6.94% and +9.70% respectively. Across the full 15-year window we track, SCHD has the edge at +11.45% annualized vs +0.91%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETV has been the more volatile fund, with annualized monthly volatility of 15.3% 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 -59.8% for ETV 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 0.71. 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 7.53% against 3.31% for SCHD.
Holdings Overlap
ETV and SCHD share 21 holdings out of 230 unique holdings combined, representing a 9.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $102 per year of difference.
Which performed better, ETV or SCHD?
Over the past year ETV returned +17.65% vs +32.31% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), ETV annualized +0.91% vs +11.45% for SCHD. Past performance does not guarantee future results.
Which is riskier, ETV or SCHD?
ETV has been the more volatile fund at 15.3% annualized versus 13.6% for SCHD. Worst drawdown: ETV -59.8% vs SCHD -33.4%.
Should I hold both ETV and SCHD?
ETV and SCHD have a monthly-return correlation of 0.71, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETV and SCHD?
ETV and SCHD share 21 common holdings with a 9.3% weight overlap. Combined, they hold 230 unique securities.
Which pays a higher dividend, ETV or SCHD?
ETV yields 7.53% while SCHD yields 3.31%, so ETV currently pays the higher dividend yield.
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