NOVP vs SCHD
PGIM S&P 500 Buffer 12 ETF - November 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 | NOVP | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.06% | |
| AUM | $31M | $103.7B | |
| Dividend Yield | 0.00% | 3.31% | |
| Holdings | 7 | 104 | |
| YTD Return | +9.85% | +26.21% | |
| 1Y Return | +14.23% | +29.99% | |
| 3Y Return (annualized) | - | +15.73% | |
| 5Y Return (annualized) | - | +9.67% | |
| Volatility (annualized) | 7.0% | 13.6% | |
| Max Drawdown | -11.8% | -33.4% | |
| Fund Family | PGIM Investments | Charles Schwab Asset Management | |
| Category | Alternative | Equity | |
| Inception | May 22, 2024 | Oct 20, 2011 |
NOVP vs SCHD Performance
PGIM S&P 500 Buffer 12 ETF - November (NOVP) is a ETF from PGIM Investments and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year NOVP returned +14.23% while SCHD returned +29.99%. Year to date, NOVP is up 9.85% versus a gain of 26.21% for SCHD.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 7.0% for NOVP. 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 -11.8% for NOVP 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 0.36. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NOVP 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, NOVP currently yields 0.00% against 3.31% for SCHD.
Frequently Asked Questions
Which is cheaper, NOVP or SCHD?
NOVP 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, NOVP or SCHD?
Over the past year NOVP returned +14.23% vs +29.99% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (2 years), NOVP annualized +14.03% vs +11.50% for SCHD. Past performance does not guarantee future results.
Which is riskier, NOVP or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 7.0% for NOVP. Worst drawdown: NOVP -11.8% vs SCHD -33.4%.
Should I hold both NOVP and SCHD?
NOVP and SCHD have a monthly-return correlation of 0.36, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, NOVP or SCHD?
NOVP yields 0.00% while SCHD yields 3.31%, so SCHD currently pays the higher dividend yield.
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