PCF vs SCHD
PCF vs SCHD
Putnam High Income Securities 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 | PCF | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 4.77% | 0.06% | |
| AUM | $117M | $103.7B | |
| Dividend Yield | 10.91% | 3.31% | |
| Holdings | 135 | 104 | |
| YTD Return | -6.46% | +24.26% | |
| 1Y Return | -5.03% | +31.38% | |
| 3Y Return (annualized) | +4.93% | +15.08% | |
| 5Y Return (annualized) | -1.01% | +9.72% | |
| Volatility (annualized) | 15.4% | 13.6% | |
| Max Drawdown | -67.3% | -33.4% | |
| Fund Family | Putnam Investments | Charles Schwab Asset Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Jul 9, 1987 | Oct 20, 2011 |
PCF vs SCHD Performance
Putnam High Income Securities Fund (PCF) is a ETF from Putnam Investments and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year PCF returned -5.03% while SCHD returned +31.38%. Year to date, PCF is down 6.46% versus a gain of 24.26% for SCHD.
Over three years, PCF compounded at +4.93% per year against +15.08% for SCHD; over five years the annualized figures are -1.01% and +9.72% respectively. Across the full 15-year window we track, SCHD has the edge at +11.39% annualized vs -0.04%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PCF has been the more volatile fund, with annualized monthly volatility of 15.4% 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 -67.3% for PCF 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 0.65. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PCF charges 4.77% per year while SCHD charges 0.06%. On a $10,000 position that is $477 vs $6 annually, a gap of $471 per year that compounds over a long holding period. On income, PCF currently yields 10.91% against 3.31% for SCHD.
Holdings Overlap
PCF and SCHD share 0 holdings out of 199 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, PCF or SCHD?
PCF has an expense ratio of 4.77% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $471 per year of difference.
Which performed better, PCF or SCHD?
Over the past year PCF returned -5.03% vs +31.38% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), PCF annualized -0.04% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, PCF or SCHD?
PCF has been the more volatile fund at 15.4% annualized versus 13.6% for SCHD. Worst drawdown: PCF -67.3% vs SCHD -33.4%.
Should I hold both PCF and SCHD?
PCF and SCHD have a monthly-return correlation of 0.65, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PCF and SCHD?
PCF and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 199 unique securities.
Which pays a higher dividend, PCF or SCHD?
PCF yields 10.91% while SCHD yields 3.31%, so PCF currently pays the higher dividend yield.
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