MUNY vs SCHD
Vanguard New York Tax-Exempt Bond ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. MUNY offers more diversification with 350 holdings.
Side-by-Side Comparison
| Metric | MUNY | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.06% | |
| AUM | $447M | $103.7B | |
| Dividend Yield | 3.11% | 3.31% | |
| Holdings | 3,016 | 104 | |
| YTD Return | -1.20% | +25.33% | |
| 1Y Return | +2.85% | +32.31% | |
| 3Y Return (annualized) | - | +15.40% | |
| 5Y Return (annualized) | - | +9.70% | |
| Volatility (annualized) | 4.3% | 13.6% | |
| Max Drawdown | -3.2% | -33.4% | |
| Fund Family | Vanguard (US) | Charles Schwab Asset Management | |
| Category | Tax Preferred | Equity | |
| Inception | May 20, 2025 | Oct 20, 2011 |
MUNY vs SCHD Performance
Vanguard New York Tax-Exempt Bond ETF (MUNY) is a ETF from Vanguard (US) and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year MUNY returned +2.85% while SCHD returned +32.31%. Year to date, MUNY is down 1.20% versus a gain of 25.33% for SCHD.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 4.3% for MUNY. 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 -3.2% for MUNY 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 0.11. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MUNY charges 0.09% per year while SCHD charges 0.06%. On a $10,000 position that is $9 vs $6 annually, a gap of $3 per year that compounds over a long holding period. On income, MUNY currently yields 3.11% against 3.31% for SCHD.
Holdings Overlap
MUNY and SCHD share 0 holdings out of 450 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, MUNY or SCHD?
MUNY has an expense ratio of 0.09% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $3 per year of difference.
Which performed better, MUNY or SCHD?
Over the past year MUNY returned +2.85% vs +32.31% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (1 years), MUNY annualized +3.40% vs +11.45% for SCHD. Past performance does not guarantee future results.
Which is riskier, MUNY or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 4.3% for MUNY. Worst drawdown: MUNY -3.2% vs SCHD -33.4%.
Should I hold both MUNY and SCHD?
MUNY and SCHD have a monthly-return correlation of 0.11, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MUNY and SCHD?
MUNY and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 450 unique securities.
Which pays a higher dividend, MUNY or SCHD?
MUNY yields 3.11% while SCHD yields 3.31%, so SCHD currently pays the higher dividend yield.
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