OIA vs SCHD
Invesco Municipal Income Opportunities Trust 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 | OIA | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 2.41% | 0.06% | |
| AUM | $1,753.44 | $103.7B | |
| Dividend Yield | 5.55% | 3.31% | |
| Holdings | 239 | 104 | |
| YTD Return | +5.27% | +26.21% | |
| 1Y Return | +13.75% | +29.99% | |
| 3Y Return (annualized) | +5.21% | +15.73% | |
| 5Y Return (annualized) | -0.61% | +9.67% | |
| Volatility (annualized) | 15.0% | 13.6% | |
| Max Drawdown | -58.7% | -33.4% | |
| Fund Family | Invesco (US) | Charles Schwab Asset Management | |
| Category | Tax Preferred | Equity | |
| Inception | Sep 19, 1988 | Oct 20, 2011 |
OIA vs SCHD Performance
Invesco Municipal Income Opportunities Trust (OIA) is a ETF from Invesco (US) and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year OIA returned +13.75% while SCHD returned +29.99%. Year to date, OIA is up 5.27% versus a gain of 26.21% for SCHD.
Over three years, OIA compounded at +5.21% per year against +15.73% for SCHD; over five years the annualized figures are -0.61% and +9.67% respectively. Across the full 15-year window we track, SCHD has the edge at +11.50% annualized vs -0.12%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
OIA has been the more volatile fund, with annualized monthly volatility of 15.0% compared with 13.6% for SCHD. 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 -58.7% for OIA 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 0.45. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
OIA charges 2.41% per year while SCHD charges 0.06%. On a $10,000 position that is $241 vs $6 annually, a gap of $235 per year that compounds over a long holding period. On income, OIA currently yields 5.55% against 3.31% for SCHD.
Holdings Overlap
OIA and SCHD share 0 holdings out of 176 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, OIA or SCHD?
OIA has an expense ratio of 2.41% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $235 per year of difference.
Which performed better, OIA or SCHD?
Over the past year OIA returned +13.75% vs +29.99% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), OIA annualized -0.12% vs +11.50% for SCHD. Past performance does not guarantee future results.
Which is riskier, OIA or SCHD?
OIA has been the more volatile fund at 15.0% annualized versus 13.6% for SCHD. Worst drawdown: OIA -58.7% vs SCHD -33.4%.
Should I hold both OIA and SCHD?
OIA and SCHD have a monthly-return correlation of 0.45, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between OIA and SCHD?
OIA and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 176 unique securities.
Which pays a higher dividend, OIA or SCHD?
OIA yields 5.55% while SCHD yields 3.31%, so OIA currently pays the higher dividend yield.
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