IAT vs SCHD
iShares US Regional Banks ETF vs Schwab US Dividend Equity ETF
Which is better, IAT or SCHD?
Mid Cap Value against Large Cap Value.
SCHD has a lower expense ratio. IAT led over 3Y, SCHD over 1Y, 5Y and the full window. SCHD is less concentrated, with 41.8% of the fund in its ten largest positions against 70.8%.
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 | IAT | SCHD |
|---|---|---|
| Expense Ratio | 0.37% | 0.06%Best |
| AUM | $635M | $112.1B |
| Dividend Yield | 2.63% | 3.00% |
| Holdings | 35 | 103 |
| YTD Return | +6.78% | +21.73%Best |
| 1Y Return | +13.87% | +26.35%Best |
| 3Y Return (annualized) | +24.85%Best | +16.02% |
| 5Y Return (annualized) | +2.12% | +9.26%Best |
| Volatility (annualized) | 24.3% | 13.7%Best |
| Max Drawdown | -55.5% | -33.4%Best |
| $10,000 over 5 years | $11,106 | $15,571Best |
| Top 10 Weight | 70.8% | 41.8%Best |
| Fund Family | iShares by BlackRock (US) | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Value |
| Inception | May 1, 2006 | Oct 20, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Oct 20, 2011 to Sep 25, 2026 (14.9 years).
IAT 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.
IAT vs SCHD Performance
iShares US Regional Banks ETF (IAT) is an ETF from iShares by BlackRock (US) and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year IAT returned +13.87% while SCHD returned +26.35%. Year to date, IAT is up 6.78% versus a gain of 21.73% for SCHD.
Over three years, IAT compounded at +24.85% per year against +16.02% for SCHD; over five years the annualized figures are +2.12% and +9.26% respectively. Across the full 15-year window we track, SCHD has the edge at +11.13% annualized vs +8.82%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IAT has been the more volatile fund, with annualized monthly volatility of 24.3% 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 -55.5% for IAT 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 0.69. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IAT charges 0.37% per year while SCHD charges 0.06%. On a $10,000 position that is $37 vs $6 annually, a gap of $31 per year that compounds over a long holding period. On income, IAT currently yields 2.63% against 3.00% for SCHD.
Holdings Overlap
14.4% of IAT's money is in holdings SCHD also owns. 2.4% of SCHD's money is in holdings IAT also owns.
IAT and SCHD share little of their money.
4 positions in common, counted across the 31 positions we hold weights for in IAT and 100 in SCHD, against full books of 35 and 103.
What only one of them owns
Our book lists 95 positions for SCHD that do not appear in our book for IAT (97.6% of the fund), and 27 for IAT that do not appear in SCHD (85.5%).
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 IAT 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, IAT or SCHD?
IAT has an expense ratio of 0.37% while SCHD charges 0.06%. SCHD is the cheaper option, by $31 a year on a $10,000 investment.
Which performed better, IAT or SCHD?
Over the past year IAT returned +13.87% vs +26.35% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), IAT annualized +8.82% vs +11.13% for SCHD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IAT or SCHD?
IAT has been the more volatile fund at 24.3% annualized versus 13.7% for SCHD. Worst drawdown: IAT -55.5% vs SCHD -33.4%.
Should I hold both IAT and SCHD?
IAT and SCHD have a monthly-return correlation of 0.69, 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 IAT and SCHD?
14.4% of IAT's money is in holdings SCHD also owns. 2.4% of SCHD's is in holdings IAT also owns. They hold 4 positions in common, counted across the 31 positions we hold weights for in IAT and 100 in SCHD.
Which pays a higher dividend, IAT or SCHD?
IAT yields 2.63% while SCHD yields 3.00%, so SCHD currently pays the higher dividend yield.
Is SCHD better than IAT?
SCHD has a lower expense ratio. IAT led over 3Y, SCHD over 1Y, 5Y and the full window. SCHD is less concentrated, with 41.8% of the fund in its ten largest positions against 70.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.