HYHG vs SCHD
ProShares High Yield-Interest Rate Hedged ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. HYHG offers more diversification with 241 holdings.
Side-by-Side Comparison
| Metric | HYHG | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.06% | |
| AUM | $200M | $108.7B | |
| Dividend Yield | 6.74% | 3.13% | |
| Holdings | 241 | 104 | |
| YTD Return | +0.33% | +28.70% | |
| 1Y Return | +2.38% | +32.27% | |
| 3Y Return (annualized) | +7.37% | +17.27% | |
| 5Y Return (annualized) | +6.31% | +10.23% | |
| Volatility (annualized) | 7.3% | 13.7% | |
| Max Drawdown | -25.7% | -33.4% | |
| Fund Family | ProShares | Charles Schwab Asset Management | |
| Category | Fixed Income | Equity | |
| Inception | May 21, 2013 | Oct 20, 2011 |
HYHG vs SCHD Performance
ProShares High Yield-Interest Rate Hedged ETF (HYHG) is a ETF from ProShares and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year HYHG returned +2.38% while SCHD returned +32.27%. Year to date, HYHG is up 0.33% versus a gain of 28.70% for SCHD.
Over three years, HYHG compounded at +7.37% per year against +17.27% for SCHD; over five years the annualized figures are +6.31% and +10.23% respectively. Across the full 13-year window we track, SCHD has the edge at +11.63% annualized vs +3.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.7% compared with 7.3% for HYHG. 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 -25.7% for HYHG 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
HYHG charges 0.50% per year while SCHD charges 0.06%. On a $10,000 position that is $50 vs $6 annually, a gap of $44 per year that compounds over a long holding period. On income, HYHG currently yields 6.74% against 3.13% for SCHD.
Holdings Overlap
HYHG and SCHD share 0 holdings out of 295 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, HYHG or SCHD?
HYHG has an expense ratio of 0.50% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $44 per year of difference.
Which performed better, HYHG or SCHD?
Over the past year HYHG returned +2.38% vs +32.27% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (13 years), HYHG annualized +3.82% vs +11.63% for SCHD. Past performance does not guarantee future results.
Which is riskier, HYHG or SCHD?
SCHD has been the more volatile fund at 13.7% annualized versus 7.3% for HYHG. Worst drawdown: HYHG -25.7% vs SCHD -33.4%.
Should I hold both HYHG and SCHD?
HYHG and SCHD have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HYHG and SCHD?
HYHG and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 295 unique securities.
Which pays a higher dividend, HYHG or SCHD?
HYHG yields 6.74% while SCHD yields 3.13%, so HYHG currently pays the higher dividend yield.
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