MMSD vs SCHD
MMSD vs SCHD
NYLI MacKay Muni Short Duration 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 | MMSD | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.06% | |
| AUM | $75M | $103.7B | |
| Dividend Yield | 3.85% | 3.31% | |
| Holdings | 124 | 104 | |
| YTD Return | +1.58% | +24.26% | |
| 1Y Return | +3.27% | +31.38% | |
| 3Y Return (annualized) | - | +15.08% | |
| 5Y Return (annualized) | - | +9.72% | |
| Volatility (annualized) | 1.8% | 13.6% | |
| Max Drawdown | -1.4% | -33.4% | |
| Fund Family | New York Life Investments | Charles Schwab Asset Management | |
| Category | Fixed Income | Equity | |
| Inception | May 6, 2025 | Oct 20, 2011 |
MMSD vs SCHD Performance
NYLI MacKay Muni Short Duration ETF (MMSD) is a ETF from New York Life Investments and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year MMSD returned +3.27% while SCHD returned +31.38%. Year to date, MMSD is up 1.58% versus a gain of 24.26% for SCHD.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 1.8% for MMSD. 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 -1.4% for MMSD 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 0.40. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MMSD charges 0.25% per year while SCHD charges 0.06%. On a $10,000 position that is $25 vs $6 annually, a gap of $19 per year that compounds over a long holding period. On income, MMSD currently yields 3.85% against 3.31% for SCHD.
Holdings Overlap
MMSD and SCHD share 0 holdings out of 131 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, MMSD or SCHD?
MMSD has an expense ratio of 0.25% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $19 per year of difference.
Which performed better, MMSD or SCHD?
Over the past year MMSD returned +3.27% vs +31.38% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (1 years), MMSD annualized +4.24% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, MMSD or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 1.8% for MMSD. Worst drawdown: MMSD -1.4% vs SCHD -33.4%.
Should I hold both MMSD and SCHD?
MMSD and SCHD have a monthly-return correlation of 0.40, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MMSD and SCHD?
MMSD and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 131 unique securities.
Which pays a higher dividend, MMSD or SCHD?
MMSD yields 3.85% while SCHD yields 3.31%, so MMSD currently pays the higher dividend yield.
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