ETW vs SCHD
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund vs Schwab US Dividend Equity ETF
Which is better, ETW or SCHD?
Multi Alternative against Large Cap Value.
SCHD has a lower expense ratio. ETW led over 3Y, SCHD over 1Y, 5Y and the full window. ETW is less concentrated, with 26.7% of the fund in its ten largest positions against 41.5%.
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 | ETW | SCHD |
|---|---|---|
| Expense Ratio | 1.10% | 0.06%Best |
| AUM | $936M | $112.2B |
| Dividend Yield | 7.47% | 3.13% |
| Holdings | 291 | 103 |
| YTD Return | +13.27% | +28.59%Best |
| 1Y Return | +20.30% | +31.77%Best |
| 3Y Return (annualized) | +17.30%Best | +16.70% |
| 5Y Return (annualized) | +6.66% | +10.09%Best |
| Volatility (annualized) | 15.0% | 13.6%Best |
| Max Drawdown | -57.4% | -33.4%Best |
| $10,000 over 5 years | $13,804 | $16,171Best |
| Top 10 Weight | 26.7%Best | 41.5% |
| Fund Family | Eaton Vance | Charles Schwab Asset Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Value |
| Inception | Sep 30, 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).
ETW 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.
ETW vs SCHD Performance
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) 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 ETW returned +20.30% while SCHD returned +31.77%. Year to date, ETW is up 13.27% versus a gain of 28.59% for SCHD.
Over three years, ETW compounded at +17.30% per year against +16.70% for SCHD; over five years the annualized figures are +6.66% and +10.09% respectively. Across the full 15-year window we track, SCHD has the edge at +11.59% annualized vs +2.97%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETW has been the more volatile fund, with annualized monthly volatility of 15.0% 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 -57.4% for ETW 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 0.76. 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 7.47% against 3.13% for SCHD.
Holdings Overlap
4.6% of ETW's money is in holdings SCHD also owns. 49.0% of SCHD's money is in holdings ETW also owns.
The two portfolios partly overlap.
The two holdings books were reported 129 days apart, ETW 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.
18 positions in common, counted across the 259 positions we hold weights for in ETW and 100 in SCHD, against full books of 291 and 103.
What only one of them owns
Our book lists 81 positions for SCHD that do not appear in our book for ETW (50.9% of the fund), and 101 for ETW that do not appear in SCHD (49.7%).
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 ETW | Weight in SCHD | Difference |
|---|---|---|---|
| AMGNAmgen Inc. | 0.55% | 4.62% | 4.07% |
| ABTAbbott Laboratories | 0.41% | 4.70% | 4.29% |
| HDHome Depot Inc/The | 0.31% | 4.32% | 4.01% |
| KOCoca Cola Co. | 0.32% | 4.20% | 3.88% |
| MRKMerck & Company Inc | 0.23% | 4.26% | 4.03% |
| UNHUnitedhealth Group Incorporated | 0.22% | 4.11% | 3.89% |
| CVXChevron Corp | 0.56% | 3.74% | 3.18% |
| TXNTexas Instrument Inc | 0.64% | 3.53% | 2.89% |
| PGProcter & Gamble Company | 0.04% | 3.96% | 3.92% |
| PEPPepsico Inc. | 0.26% | 3.71% | 3.45% |
49.0% of SCHD is already inside ETW.
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, ETW or SCHD?
ETW has an expense ratio of 1.10% while SCHD charges 0.06%. SCHD is the cheaper option, by $104 a year on a $10,000 investment.
Which performed better, ETW or SCHD?
Over the past year ETW returned +20.30% vs +31.77% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), ETW annualized +2.97% vs +11.59% for SCHD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ETW or SCHD?
ETW has been the more volatile fund at 15.0% annualized versus 13.6% for SCHD. Worst drawdown: ETW -57.4% vs SCHD -33.4%.
Should I hold both ETW and SCHD?
ETW and SCHD have a monthly-return correlation of 0.76, 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 ETW and SCHD?
49.0% of SCHD's money is in holdings ETW also owns. 49.0% of SCHD's is in holdings ETW also owns. They hold 18 positions in common, counted across the 259 positions we hold weights for in ETW and 100 in SCHD.
Which pays a higher dividend, ETW or SCHD?
ETW yields 7.47% while SCHD yields 3.13%, so ETW currently pays the higher dividend yield.
Is SCHD better than ETW?
SCHD has a lower expense ratio. ETW led over 3Y, SCHD over 1Y, 5Y and the full window. ETW is less concentrated, with 26.7% of the fund in its ten largest positions against 41.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.