PHEQ vs SCHD
Parametric Hedged Equity ETF vs Schwab US Dividend Equity ETF
Which is better, PHEQ or SCHD?
Large Cap Blend against Large Cap Value.
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y and the full window. PHEQ is less concentrated, with 39.9% of the fund in its ten largest positions against 41.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PHEQ | SCHD |
|---|---|---|
| Expense Ratio | 0.29% | 0.06%Best |
| AUM | $144M | $112.1B |
| Dividend Yield | 0.92% | 3.00% |
| Holdings | 184 | 103 |
| YTD Return | +8.35% | +24.23%Best |
| 1Y Return | +11.68% | +27.90%Best |
| 3Y Return (annualized) | +14.87% | +15.55%Best |
| 5Y Return (annualized) | - | +9.97% |
| Volatility (annualized) | 6.8%Best | 13.1% |
| Max Drawdown | -12.6%Best | -16.1% |
| $10,000 over 2.9 years | $14,949 | $16,046Best |
| Top 10 Weight | 39.9%Best | 41.8% |
| Fund Family | Parametric | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Oct 16, 2023 | Oct 20, 2011 |
Volatility and max drawdown, and the $10,000 over 2.9 years row, are measured over the window both funds cover: Oct 19, 2023 to Sep 17, 2026 (2.9 years).
PHEQ vs SCHD growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.9 years both funds cover.
PHEQ vs SCHD Performance
Parametric Hedged Equity ETF (PHEQ) is an ETF from Parametric and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year PHEQ returned +11.68% while SCHD returned +27.90%. Year to date, PHEQ is up 8.35% versus a gain of 24.23% for SCHD.
Over three years, PHEQ compounded at +14.87% per year against +15.55% for SCHD.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.1% compared with 6.8% for PHEQ. 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 -12.6% for PHEQ and -16.1% for SCHD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.39. They move together some of the time, and apart the rest.
Fees and Cost Over Time
PHEQ charges 0.29% per year while SCHD charges 0.06%. On a $10,000 position that is $29 vs $6 annually, a gap of $23 per year that compounds over a long holding period. On income, PHEQ currently yields 0.92% against 3.00% for SCHD.
Holdings Overlap
8.9% of PHEQ's money is in holdings SCHD also owns. 44.2% of SCHD's money is in holdings PHEQ also owns.
The two portfolios partly overlap.
17 positions in common, counted across the 174 positions we hold weights for in PHEQ and 100 in SCHD, against full books of 184 and 103.
What only one of them owns
Our book lists 82 positions for SCHD that do not appear in our book for PHEQ (55.8% of the fund), and 148 for PHEQ that do not appear in SCHD (93.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in PHEQ | Weight in SCHD | Difference |
|---|---|---|---|
| MRKMerck & Company Inc | 0.88% | 4.77% | 3.89% |
| AMGNAmgen Inc. | 0.68% | 4.70% | 4.02% |
| KOCoca Cola Co. | 0.84% | 4.17% | 3.33% |
| CVXChevron Corp | 0.95% | 4.02% | 3.07% |
| HDHome Depot Inc/The | 0.74% | 3.88% | 3.14% |
| UNHUnitedhealth Group Incorporated | 0.78% | 3.82% | 3.04% |
| PGProcter & Gamble Company | 0.76% | 3.83% | 3.07% |
| PEPPepsico Inc. | 0.50% | 3.64% | 3.14% |
| TXNTexas Instrument Inc | 0.46% | 3.13% | 2.67% |
| BXBlackstone Group Inc. Class A | 0.43% | 2.59% | 2.16% |
44.2% of SCHD is already inside PHEQ.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PHEQ or SCHD?
PHEQ has an expense ratio of 0.29% while SCHD charges 0.06%. SCHD is the cheaper option, by $23 a year on a $10,000 investment.
Which performed better, PHEQ or SCHD?
Over the past year PHEQ returned +11.68% vs +27.90% for SCHD, so SCHD leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PHEQ or SCHD?
SCHD has been the more volatile fund at 13.1% annualized versus 6.8% for PHEQ. Worst drawdown: PHEQ -12.6% vs SCHD -16.1%.
Should I hold both PHEQ and SCHD?
PHEQ and SCHD have a monthly-return correlation of 0.39, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PHEQ and SCHD?
44.2% of SCHD's money is in holdings PHEQ also owns. 44.2% of SCHD's is in holdings PHEQ also owns. They hold 17 positions in common, counted across the 174 positions we hold weights for in PHEQ and 100 in SCHD.
Which pays a higher dividend, PHEQ or SCHD?
PHEQ yields 0.92% while SCHD yields 3.00%, so SCHD currently pays the higher dividend yield.
Is SCHD better than PHEQ?
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y and the full window. PHEQ is less concentrated, with 39.9% of the fund in its ten largest positions against 41.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.