ETW vs SCHD
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. ETW offers more diversification with 259 holdings.
Side-by-Side Comparison
| Metric | ETW | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 1.10% | 0.06% | |
| AUM | $936M | $103.7B | |
| Dividend Yield | 7.41% | 3.31% | |
| Holdings | 291 | 104 | |
| YTD Return | +11.94% | +25.62% | |
| 1Y Return | +20.04% | +32.62% | |
| 3Y Return (annualized) | +16.61% | +15.58% | |
| 5Y Return (annualized) | +6.28% | +9.63% | |
| Volatility (annualized) | 16.9% | 13.6% | |
| Max Drawdown | -72.8% | -33.4% | |
| Fund Family | Eaton Vance | Charles Schwab Asset Management | |
| Category | Alternative | Equity | |
| Inception | Sep 30, 2005 | Oct 20, 2011 |
ETW vs SCHD Performance
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) 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 ETW returned +20.04% while SCHD returned +32.62%. Year to date, ETW is up 11.94% versus a gain of 25.62% for SCHD.
Over three years, ETW compounded at +16.61% per year against +15.58% for SCHD; over five years the annualized figures are +6.28% and +9.63% respectively. Across the full 15-year window we track, SCHD has the edge at +11.47% annualized vs -1.09%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETW has been the more volatile fund, with annualized monthly volatility of 16.9% 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 -72.8% for ETW 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 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ETW charges 1.10% per year while SCHD charges 0.06%. On a $10,000 position that is $110 vs $6 annually, a gap of $104 per year that compounds over a long holding period. On income, ETW currently yields 7.41% against 3.31% for SCHD.
Holdings Overlap
ETW and SCHD share 18 holdings out of 341 unique holdings combined, representing a 4.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, ETW or SCHD?
ETW has an expense ratio of 1.10% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $104 per year of difference.
Which performed better, ETW or SCHD?
Over the past year ETW returned +20.04% vs +32.62% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), ETW annualized -1.09% vs +11.47% for SCHD. Past performance does not guarantee future results.
Which is riskier, ETW or SCHD?
ETW has been the more volatile fund at 16.9% annualized versus 13.6% for SCHD. Worst drawdown: ETW -72.8% vs SCHD -33.4%.
Should I hold both ETW and SCHD?
ETW and SCHD have a monthly-return correlation of 0.76, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETW and SCHD?
ETW and SCHD share 18 common holdings with a 4.6% weight overlap. Combined, they hold 341 unique securities.
Which pays a higher dividend, ETW or SCHD?
ETW yields 7.41% while SCHD yields 3.31%, so ETW currently pays the higher dividend yield.
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