GAA vs SCHD
Cambria Global Asset Allocation ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SCHD offers more diversification with 100 holdings.
Side-by-Side Comparison
| Metric | GAA | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.40% | 0.06% | |
| AUM | $72M | $103.7B | |
| Dividend Yield | 3.53% | 3.31% | |
| Holdings | 31 | 104 | |
| YTD Return | +9.18% | +25.33% | |
| 1Y Return | +15.61% | +32.31% | |
| 3Y Return (annualized) | +12.65% | +15.40% | |
| 5Y Return (annualized) | +6.25% | +9.70% | |
| Volatility (annualized) | 9.5% | 13.6% | |
| Max Drawdown | -26.6% | -33.4% | |
| Fund Family | Cambria Investment Management | Charles Schwab Asset Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Dec 9, 2014 | Oct 20, 2011 |
GAA vs SCHD Performance
Cambria Global Asset Allocation ETF (GAA) is a ETF from Cambria Investment Management and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year GAA returned +15.61% while SCHD returned +32.31%. Year to date, GAA is up 9.18% versus a gain of 25.33% for SCHD.
Over three years, GAA compounded at +12.65% per year against +15.40% for SCHD; over five years the annualized figures are +6.25% and +9.70% respectively. Across the full 12-year window we track, SCHD has the edge at +11.45% annualized vs +6.52%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 9.5% for GAA. 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 -26.6% for GAA 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
GAA charges 0.40% per year while SCHD charges 0.06%. On a $10,000 position that is $40 vs $6 annually, a gap of $34 per year that compounds over a long holding period. On income, GAA currently yields 3.53% against 3.31% for SCHD.
Holdings Overlap
GAA and SCHD share 0 holdings out of 130 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GAA or SCHD?
GAA has an expense ratio of 0.40% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $34 per year of difference.
Which performed better, GAA or SCHD?
Over the past year GAA returned +15.61% vs +32.31% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (12 years), GAA annualized +6.52% vs +11.45% for SCHD. Past performance does not guarantee future results.
Which is riskier, GAA or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 9.5% for GAA. Worst drawdown: GAA -26.6% vs SCHD -33.4%.
Should I hold both GAA and SCHD?
GAA and SCHD have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GAA and SCHD?
GAA and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 130 unique securities.
Which pays a higher dividend, GAA or SCHD?
GAA yields 3.53% while SCHD yields 3.31%, so GAA currently pays the higher dividend yield.
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