MIY vs SCHD
BlackRock MuniYield Michigan Quality Fund, Inc 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 | MIY | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 1.44% | 0.06% | |
| AUM | $352M | $103.7B | |
| Dividend Yield | 5.22% | 3.31% | |
| Holdings | 145 | 104 | |
| YTD Return | +9.97% | +25.62% | |
| 1Y Return | +17.23% | +32.62% | |
| 3Y Return (annualized) | +10.24% | +15.58% | |
| 5Y Return (annualized) | +0.20% | +9.63% | |
| Volatility (annualized) | 11.7% | 13.6% | |
| Max Drawdown | -53.7% | -33.4% | |
| Fund Family | BlackRock, Inc. (US) | Charles Schwab Asset Management | |
| Category | Tax Preferred | Equity | |
| Inception | Oct 30, 1992 | Oct 20, 2011 |
MIY vs SCHD Performance
BlackRock MuniYield Michigan Quality Fund, Inc (MIY) is a ETF from BlackRock, Inc. (US) and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year MIY returned +17.23% while SCHD returned +32.62%. Year to date, MIY is up 9.97% versus a gain of 25.62% for SCHD.
Over three years, MIY compounded at +10.24% per year against +15.58% for SCHD; over five years the annualized figures are +0.20% and +9.63% respectively. Across the full 15-year window we track, SCHD has the edge at +11.47% annualized vs +0.58%. 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 11.7% for MIY. 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 -53.7% for MIY 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 0.29. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MIY charges 1.44% per year while SCHD charges 0.06%. On a $10,000 position that is $144 vs $6 annually, a gap of $138 per year that compounds over a long holding period. On income, MIY currently yields 5.22% against 3.31% for SCHD.
Holdings Overlap
MIY and SCHD share 0 holdings out of 139 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, MIY or SCHD?
MIY has an expense ratio of 1.44% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $138 per year of difference.
Which performed better, MIY or SCHD?
Over the past year MIY returned +17.23% vs +32.62% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), MIY annualized +0.58% vs +11.47% for SCHD. Past performance does not guarantee future results.
Which is riskier, MIY or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 11.7% for MIY. Worst drawdown: MIY -53.7% vs SCHD -33.4%.
Should I hold both MIY and SCHD?
MIY and SCHD have a monthly-return correlation of 0.29, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MIY and SCHD?
MIY and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 139 unique securities.
Which pays a higher dividend, MIY or SCHD?
MIY yields 5.22% while SCHD yields 3.31%, so MIY currently pays the higher dividend yield.
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