PIZ vs SCHD
Invesco Dorsey Wright Developed Markets Momentum ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns.
Side-by-Side Comparison
| Metric | PIZ | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.80% | 0.06% | |
| AUM | $729M | $103.7B | |
| Dividend Yield | 1.49% | 3.31% | |
| Holdings | 115 | 104 | |
| YTD Return | +9.29% | +25.62% | |
| 1Y Return | +18.11% | +32.62% | |
| 3Y Return (annualized) | +22.31% | +15.58% | |
| 5Y Return (annualized) | +7.87% | +9.63% | |
| Volatility (annualized) | 20.4% | 13.6% | |
| Max Drawdown | -61.1% | -33.4% | |
| Fund Family | Invesco (US) | Charles Schwab Asset Management | |
| Category | Equity | Equity | |
| Inception | Dec 28, 2007 | Oct 20, 2011 |
PIZ vs SCHD Performance
Invesco Dorsey Wright Developed Markets Momentum ETF (PIZ) 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 PIZ returned +18.11% while SCHD returned +32.62%. Year to date, PIZ is up 9.29% versus a gain of 25.62% for SCHD.
Over three years, PIZ compounded at +22.31% per year against +15.58% for SCHD; over five years the annualized figures are +7.87% and +9.63% respectively. Across the full 15-year window we track, SCHD has the edge at +11.47% annualized vs +4.65%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PIZ has been the more volatile fund, with annualized monthly volatility of 20.4% 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 -61.1% for PIZ 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PIZ charges 0.80% per year while SCHD charges 0.06%. On a $10,000 position that is $80 vs $6 annually, a gap of $74 per year that compounds over a long holding period. On income, PIZ currently yields 1.49% against 3.31% for SCHD.
Holdings Overlap
PIZ and SCHD share 0 holdings out of 200 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, PIZ or SCHD?
PIZ has an expense ratio of 0.80% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $74 per year of difference.
Which performed better, PIZ or SCHD?
Over the past year PIZ returned +18.11% vs +32.62% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), PIZ annualized +4.65% vs +11.47% for SCHD. Past performance does not guarantee future results.
Which is riskier, PIZ or SCHD?
PIZ has been the more volatile fund at 20.4% annualized versus 13.6% for SCHD. Worst drawdown: PIZ -61.1% vs SCHD -33.4%.
Should I hold both PIZ and SCHD?
PIZ and SCHD have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PIZ and SCHD?
PIZ and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 200 unique securities.
Which pays a higher dividend, PIZ or SCHD?
PIZ yields 1.49% while SCHD yields 3.31%, so SCHD currently pays the higher dividend yield.
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