FXAIX vs SCHD
Fidelity 500 Index Fund vs Schwab US Dividend Equity ETF
Which is better, FXAIX or SCHD?
Large Cap Blend against Large Cap Value.
FXAIX has a lower expense ratio. FXAIX led over 3Y, 5Y and the full window, SCHD over 1Y. FXAIX is less concentrated, with 36.4% of the fund in its ten largest positions against 41.8%.
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 | FXAIX | SCHD |
|---|---|---|
| Expense Ratio | 0.02%Best | 0.06% |
| AUM | $594.0B | $112.1B |
| Dividend Yield | 1.06% | 3.00% |
| Holdings | 507 | 103 |
| YTD Price Return | +10.88% | +22.03%Best |
| 1Y Price Return | +14.68% | +23.41%Best |
| 3Y Price Return (annualized) | +19.48%Best | +11.33% |
| 5Y Price Return (annualized) | +11.37%Best | +5.95% |
| Volatility (annualized) | 15.4% | 15.2%Best |
| Max Drawdown | -25.4% | -18.9%Best |
| $10,000 over 5 years | $17,133Best | $13,351 |
| Top 10 Weight | 36.4%Best | 41.8% |
| Fund Family | Fidelity Investments (US) | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | May 4, 2011 | Oct 20, 2011 |
Returns are price returns and exclude distributions, because our data feed carries no adjusted close for FXAIX. Both funds are measured the same way, so the comparison holds. FXAIX yields 1.06% and SCHD 3.00% on top.
Volatility and max drawdown are measured over the window both funds cover: Sep 17, 2021 to Sep 15, 2026 (5 years).
FXAIX 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 5 years both funds cover. Prices exclude distributions, on both funds alike.
FXAIX vs SCHD Performance
Fidelity 500 Index Fund (FXAIX) is a mutual fund from Fidelity Investments (US) and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year FXAIX returned +14.68% while SCHD returned +23.41%. Year to date, FXAIX is up 10.88% versus a gain of 22.03% for SCHD.
Over three years, FXAIX compounded at +19.48% per year against +11.33% for SCHD; over five years the annualized figures are +11.37% and +5.95% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FXAIX has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 15.2% 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 -25.4% for FXAIX and -18.9% 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 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FXAIX charges 0.02% per year while SCHD charges 0.06%. On a $10,000 position that is $2 vs $6 annually, a gap of $4 per year that compounds over a long holding period. On income, FXAIX currently yields 1.06% against 3.00% for SCHD.
Structure and taxes
FXAIX is a mutual fund and SCHD is an ETF. A mutual fund prices once a day at net asset value and may carry a purchase minimum. An ETF trades through the day at whatever the market pays for it.
In a taxable account the difference that usually matters is distributions. An ETF can meet redemptions in kind, so it rarely has to sell holdings and rarely passes a capital gain to the people who held it; a mutual fund that sells holdings to meet redemptions can distribute a realised gain at year end to everyone still in the fund, whether or not they sold anything themselves. In a tax-deferred account that difference largely disappears. Both are descriptions of how the two wrappers work, not a recommendation.
Tax-loss harvesting works on either wrapper.
Holdings Overlap
7.6% of FXAIX's money is in holdings SCHD also owns. 94.9% of SCHD's money is in holdings FXAIX also owns.
Most of SCHD is already inside FXAIX. Owning both mostly buys the same companies twice.
The two holdings books were reported 62 days apart, FXAIX as of Jun 30, 2026 and SCHD as of Aug 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
46 positions in common, counted across the 508 positions we hold weights for in FXAIX and 100 in SCHD, against full books of 507 and 103.
What only one of them owns
Our book lists 53 positions for SCHD that do not appear in our book for FXAIX (5.1% of the fund), and 450 for FXAIX that do not appear in SCHD (91.7%).
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 FXAIX | Weight in SCHD | Difference |
|---|---|---|---|
| MRKMerck & Company Inc | 0.49% | 4.77% | 4.28% |
| AMGNAmgen Inc. | 0.30% | 4.70% | 4.40% |
| ABTAbbott Laboratories | 0.25% | 4.69% | 4.44% |
| KOCoca Cola Co. | 0.49% | 4.17% | 3.68% |
| CVXChevron Corp | 0.48% | 4.02% | 3.54% |
| HDHome Depot Inc/The | 0.54% | 3.88% | 3.34% |
| UNHUnitedhealth Group Incorporated | 0.59% | 3.82% | 3.23% |
| PGProcter & Gamble Company | 0.53% | 3.83% | 3.30% |
| VZVerizon Communic | 0.27% | 3.97% | 3.70% |
| COPConocophillips Common Stock USD 0.01 | 0.20% | 3.94% | 3.74% |
94.9% of SCHD is already inside FXAIX.
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, FXAIX or SCHD?
FXAIX has an expense ratio of 0.02% while SCHD charges 0.06%. FXAIX is the cheaper option, by $4 a year on a $10,000 investment.
Which performed better, FXAIX or SCHD?
Over the past year FXAIX returned +14.68% vs +23.41% for SCHD, so SCHD leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FXAIX or SCHD?
FXAIX has been the more volatile fund at 15.4% annualized versus 15.2% for SCHD. Worst drawdown: FXAIX -25.4% vs SCHD -18.9%.
Should I hold both FXAIX and SCHD?
FXAIX and SCHD have a monthly-return correlation of 0.70, 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 FXAIX and SCHD?
94.9% of SCHD's money is in holdings FXAIX also owns. 94.9% of SCHD's is in holdings FXAIX also owns. They hold 46 positions in common, counted across the 508 positions we hold weights for in FXAIX and 100 in SCHD.
Which pays a higher dividend, FXAIX or SCHD?
FXAIX yields 1.06% while SCHD yields 3.00%, so SCHD currently pays the higher dividend yield.
Is it better to hold FXAIX or SCHD in a taxable account?
SCHD is an ETF and FXAIX is a mutual fund. An ETF can meet redemptions in kind, so it rarely distributes a capital gain to the people holding it. A mutual fund that sells holdings to meet redemptions can pass a realised gain to every holder at year end. In a tax-deferred account that difference largely disappears. This is information, not a recommendation.
Is SCHD better than FXAIX?
FXAIX has a lower expense ratio. FXAIX led over 3Y, 5Y and the full window, SCHD over 1Y. FXAIX is less concentrated, with 36.4% of the fund in its ten largest positions against 41.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.