PICB vs SCHD
PICB vs SCHD
Invesco International Corporate Bond ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. PICB offers more diversification with 395 holdings.
Side-by-Side Comparison
| Metric | PICB | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.06% | |
| AUM | $356M | $103.7B | |
| Dividend Yield | 3.39% | 3.31% | |
| Holdings | 599 | 104 | |
| YTD Return | -0.09% | +24.26% | |
| 1Y Return | +1.24% | +31.38% | |
| 3Y Return (annualized) | +5.30% | +15.08% | |
| 5Y Return (annualized) | -1.94% | +9.72% | |
| Volatility (annualized) | 10.0% | 13.6% | |
| Max Drawdown | -38.1% | -33.4% | |
| Fund Family | Invesco (US) | Charles Schwab Asset Management | |
| Category | Fixed Income | Equity | |
| Inception | Jun 3, 2010 | Oct 20, 2011 |
PICB vs SCHD Performance
Invesco International Corporate Bond ETF (PICB) 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 PICB returned +1.24% while SCHD returned +31.38%. Year to date, PICB is down 0.09% versus a gain of 24.26% for SCHD.
Over three years, PICB compounded at +5.30% per year against +15.08% for SCHD; over five years the annualized figures are -1.94% and +9.72% respectively. Across the full 15-year window we track, SCHD has the edge at +11.39% annualized vs +0.38%. 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 10.0% for PICB. 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 -38.1% for PICB 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
PICB charges 0.50% per year while SCHD charges 0.06%. On a $10,000 position that is $50 vs $6 annually, a gap of $44 per year that compounds over a long holding period. On income, PICB currently yields 3.39% against 3.31% for SCHD.
Holdings Overlap
PICB and SCHD share 0 holdings out of 495 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, PICB or SCHD?
PICB has an expense ratio of 0.50% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $44 per year of difference.
Which performed better, PICB or SCHD?
Over the past year PICB returned +1.24% vs +31.38% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), PICB annualized +0.38% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, PICB or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 10.0% for PICB. Worst drawdown: PICB -38.1% vs SCHD -33.4%.
Should I hold both PICB and SCHD?
PICB 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 PICB and SCHD?
PICB and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 495 unique securities.
Which pays a higher dividend, PICB or SCHD?
PICB yields 3.39% while SCHD yields 3.31%, so PICB currently pays the higher dividend yield.
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