HFEQ vs SCHD
Unlimited HFEQ Equity Long/Short 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 104 holdings.
Side-by-Side Comparison
| Metric | HFEQ | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.96% | 0.06% | |
| AUM | $19M | $108.7B | |
| Dividend Yield | 9.30% | 3.13% | |
| Holdings | 22 | 104 | |
| YTD Return | +16.90% | +28.63% | |
| 1Y Return | +31.72% | +32.53% | |
| 3Y Return (annualized) | - | +16.97% | |
| 5Y Return (annualized) | - | +10.47% | |
| Volatility (annualized) | 16.2% | 13.7% | |
| Max Drawdown | -12.5% | -33.4% | |
| Fund Family | Unlimited Funds | Charles Schwab Asset Management | |
| Category | Alternative | Equity | |
| Inception | Jul 14, 2025 | Oct 20, 2011 |
HFEQ vs SCHD Performance
Unlimited HFEQ Equity Long/Short ETF (HFEQ) is a ETF from Unlimited Funds and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year HFEQ returned +31.72% while SCHD returned +32.53%. Year to date, HFEQ is up 16.90% versus a gain of 28.63% for SCHD.
Risk: Volatility and Drawdowns
HFEQ has been the more volatile fund, with annualized monthly volatility of 16.2% compared with 13.7% 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 -12.5% for HFEQ 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 0.24. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
HFEQ charges 0.96% per year while SCHD charges 0.06%. On a $10,000 position that is $96 vs $6 annually, a gap of $90 per year that compounds over a long holding period. On income, HFEQ currently yields 9.30% against 3.13% for SCHD.
Holdings Overlap
HFEQ and SCHD share 0 holdings out of 111 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, HFEQ or SCHD?
HFEQ has an expense ratio of 0.96% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $90 per year of difference.
Which performed better, HFEQ or SCHD?
Over the past year HFEQ returned +31.72% vs +32.53% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (1 years), HFEQ annualized +32.59% vs +11.63% for SCHD. Past performance does not guarantee future results.
Which is riskier, HFEQ or SCHD?
HFEQ has been the more volatile fund at 16.2% annualized versus 13.7% for SCHD. Worst drawdown: HFEQ -12.5% vs SCHD -33.4%.
Should I hold both HFEQ and SCHD?
HFEQ and SCHD have a monthly-return correlation of 0.24, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HFEQ and SCHD?
HFEQ and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 111 unique securities.
Which pays a higher dividend, HFEQ or SCHD?
HFEQ yields 9.30% while SCHD yields 3.13%, so HFEQ currently pays the higher dividend yield.
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