ETY vs SCHD
Eaton Vance Tax-Managed Diversified Equity Income Fund vs Schwab US Dividend Equity ETF
Which is better, ETY or SCHD?
Large Cap Blend 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 48.9%.
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 | ETY | SCHD |
|---|---|---|
| Expense Ratio | 1.06% | 0.06%Best |
| AUM | $1.8B | $112.2B |
| Dividend Yield | 7.64% | 3.13% |
| Holdings | 61 | 103 |
| YTD Return | -0.26% | +27.56%Best |
| 1Y Return | -2.17% | +30.29%Best |
| 3Y Return (annualized) | +14.54% | +16.37%Best |
| 5Y Return (annualized) | +8.25% | +10.23%Best |
| Volatility (annualized) | 15.9% | 13.6%Best |
| Max Drawdown | -43.6% | -33.4%Best |
| $10,000 over 5 years | $14,864 | $16,274Best |
| Top 10 Weight | 48.9% | 41.5%Best |
| Fund Family | Eaton Vance | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Nov 27, 2006 | 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).
ETY 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.
ETY vs SCHD Performance
Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) 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 ETY returned -2.17% while SCHD returned +30.29%. Year to date, ETY is down 0.26% versus a gain of 27.56% for SCHD.
Over three years, ETY compounded at +14.54% per year against +16.37% for SCHD; over five years the annualized figures are +8.25% and +10.23% respectively. Across the full 15-year window we track, SCHD has the edge at +11.53% annualized vs +6.33%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETY has been the more volatile fund, with annualized monthly volatility of 15.9% 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 -43.6% for ETY 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ETY charges 1.06% per year while SCHD charges 0.06%. On a $10,000 position that is $106 vs $6 annually, a gap of $100 per year that compounds over a long holding period. On income, ETY currently yields 7.64% against 3.13% for SCHD.
Holdings Overlap
5.7% of ETY's money is in holdings SCHD also owns. 9.3% of SCHD's money is in holdings ETY also owns.
SCHD and ETY share little of their money.
The two holdings books were reported 161 days apart, ETY as of Feb 27, 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 49 positions we hold weights for in ETY and 100 in SCHD, against full books of 61 and 103.
What only one of them owns
Our book lists 96 positions for SCHD that do not appear in our book for ETY (90.6% of the fund), and 42 for ETY that do not appear in SCHD (89.5%).
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 ETY 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, ETY or SCHD?
ETY has an expense ratio of 1.06% while SCHD charges 0.06%. SCHD is the cheaper option, by $100 a year on a $10,000 investment.
Which performed better, ETY or SCHD?
Over the past year ETY returned -2.17% vs +30.29% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), ETY annualized +6.33% vs +11.53% for SCHD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ETY or SCHD?
ETY has been the more volatile fund at 15.9% annualized versus 13.6% for SCHD. Worst drawdown: ETY -43.6% vs SCHD -33.4%.
Should I hold both ETY and SCHD?
ETY and SCHD have a monthly-return correlation of 0.77, 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 ETY and SCHD?
9.3% of SCHD's money is in holdings ETY also owns. 9.3% of SCHD's is in holdings ETY also owns. They hold 3 positions in common, counted across the 49 positions we hold weights for in ETY and 100 in SCHD.
Which pays a higher dividend, ETY or SCHD?
ETY yields 7.64% while SCHD yields 3.13%, so ETY currently pays the higher dividend yield.
Is SCHD better than ETY?
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 48.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.