NUW vs SCHD
Nuveen AMT-Free Municipal Value Fund 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 | NUW | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.68% | 0.06% | |
| AUM | - | $103.7B | |
| Dividend Yield | 3.86% | 3.31% | |
| Holdings | 225 | 104 | |
| YTD Return | +0.04% | +24.26% | |
| 1Y Return | +6.37% | +31.38% | |
| 3Y Return (annualized) | +5.47% | +15.08% | |
| 5Y Return (annualized) | -0.12% | +9.72% | |
| Volatility (annualized) | 9.7% | 13.6% | |
| Max Drawdown | -32.9% | -33.4% | |
| Fund Family | Nuveen | Charles Schwab Asset Management | |
| Category | Tax Preferred | Equity | |
| Inception | Feb 25, 2009 | Oct 20, 2011 |
NUW vs SCHD Performance
Nuveen AMT-Free Municipal Value Fund (NUW) is a ETF from Nuveen and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year NUW returned +6.37% while SCHD returned +31.38%. Year to date, NUW is up 0.04% versus a gain of 24.26% for SCHD.
Over three years, NUW compounded at +5.47% per year against +15.08% for SCHD; over five years the annualized figures are -0.12% and +9.72% respectively. Across the full 15-year window we track, SCHD has the edge at +11.39% annualized vs +0.80%. 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 9.7% for NUW. 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 -32.9% for NUW 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 0.15. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NUW charges 0.68% per year while SCHD charges 0.06%. On a $10,000 position that is $68 vs $6 annually, a gap of $62 per year that compounds over a long holding period. On income, NUW currently yields 3.86% against 3.31% for SCHD.
Holdings Overlap
NUW and SCHD share 0 holdings out of 197 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, NUW or SCHD?
NUW has an expense ratio of 0.68% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $62 per year of difference.
Which performed better, NUW or SCHD?
Over the past year NUW returned +6.37% vs +31.38% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), NUW annualized +0.80% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, NUW or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 9.7% for NUW. Worst drawdown: NUW -32.9% vs SCHD -33.4%.
Should I hold both NUW and SCHD?
NUW and SCHD have a monthly-return correlation of 0.15, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NUW and SCHD?
NUW and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 197 unique securities.
Which pays a higher dividend, NUW or SCHD?
NUW yields 3.86% while SCHD yields 3.31%, so NUW currently pays the higher dividend yield.
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