PHK vs SCHD
PHK vs SCHD
PIMCO High Income 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 | PHK | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 2.92% | 0.06% | |
| AUM | $845M | $103.7B | |
| Dividend Yield | 12.72% | 3.31% | |
| Holdings | 468 | 104 | |
| YTD Return | +3.87% | +24.26% | |
| 1Y Return | +7.54% | +31.38% | |
| 3Y Return (annualized) | +9.81% | +15.08% | |
| 5Y Return (annualized) | +3.35% | +9.72% | |
| Volatility (annualized) | 26.4% | 13.6% | |
| Max Drawdown | -80.9% | -33.4% | |
| Fund Family | PIMCO (US) | Charles Schwab Asset Management | |
| Category | Fixed Income | Equity | |
| Inception | Apr 30, 2003 | Oct 20, 2011 |
PHK vs SCHD Performance
PIMCO High Income Fund (PHK) is a ETF from PIMCO (US) and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year PHK returned +7.54% while SCHD returned +31.38%. Year to date, PHK is up 3.87% versus a gain of 24.26% for SCHD.
Over three years, PHK compounded at +9.81% per year against +15.08% for SCHD; over five years the annualized figures are +3.35% and +9.72% respectively. Across the full 15-year window we track, SCHD has the edge at +11.39% annualized vs -2.31%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PHK has been the more volatile fund, with annualized monthly volatility of 26.4% 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 -80.9% for PHK 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 0.55. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PHK charges 2.92% per year while SCHD charges 0.06%. On a $10,000 position that is $292 vs $6 annually, a gap of $286 per year that compounds over a long holding period. On income, PHK currently yields 12.72% against 3.31% for SCHD.
Holdings Overlap
PHK and SCHD share 1 holdings out of 121 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in PHK | Weight in SCHD | Difference |
|---|---|---|---|
| GVMXX | 0.11% | 0.04% | 0.07% |
Frequently Asked Questions
Which is cheaper, PHK or SCHD?
PHK has an expense ratio of 2.92% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $286 per year of difference.
Which performed better, PHK or SCHD?
Over the past year PHK returned +7.54% vs +31.38% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), PHK annualized -2.31% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, PHK or SCHD?
PHK has been the more volatile fund at 26.4% annualized versus 13.6% for SCHD. Worst drawdown: PHK -80.9% vs SCHD -33.4%.
Should I hold both PHK and SCHD?
PHK and SCHD have a monthly-return correlation of 0.55, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PHK and SCHD?
PHK and SCHD share 1 common holdings with a 0.0% weight overlap. Combined, they hold 121 unique securities.
Which pays a higher dividend, PHK or SCHD?
PHK yields 12.72% while SCHD yields 3.31%, so PHK currently pays the higher dividend yield.
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