PMAY vs SCHD
Innovator US Equity Power Buffer ETF - May 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 | PMAY | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.06% | |
| AUM | $807M | $103.7B | |
| Dividend Yield | 0.00% | 3.31% | |
| Holdings | 6 | 104 | |
| YTD Return | +6.22% | +24.26% | |
| 1Y Return | +10.30% | +31.38% | |
| 3Y Return (annualized) | +11.96% | +15.08% | |
| 5Y Return (annualized) | +7.22% | +9.72% | |
| Volatility (annualized) | 7.0% | 13.6% | |
| Max Drawdown | -13.1% | -33.4% | |
| Fund Family | Innovator ETFs Trust | Charles Schwab Asset Management | |
| Category | Alternative | Equity | |
| Inception | Apr 30, 2020 | Oct 20, 2011 |
PMAY vs SCHD Performance
Innovator US Equity Power Buffer ETF - May (PMAY) is a ETF from Innovator ETFs Trust and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year PMAY returned +10.30% while SCHD returned +31.38%. Year to date, PMAY is up 6.22% versus a gain of 24.26% for SCHD.
Over three years, PMAY compounded at +11.96% per year against +15.08% for SCHD; over five years the annualized figures are +7.22% and +9.72% respectively. Across the full 6-year window we track, SCHD has the edge at +11.39% annualized vs +8.44%. 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 7.0% for PMAY. 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 -13.1% for PMAY 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 0.69. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PMAY charges 0.79% per year while SCHD charges 0.06%. On a $10,000 position that is $79 vs $6 annually, a gap of $73 per year that compounds over a long holding period. On income, PMAY currently yields 0.00% against 3.31% for SCHD.
Frequently Asked Questions
Which is cheaper, PMAY or SCHD?
PMAY has an expense ratio of 0.79% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $73 per year of difference.
Which performed better, PMAY or SCHD?
Over the past year PMAY returned +10.30% vs +31.38% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (6 years), PMAY annualized +8.44% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, PMAY or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 7.0% for PMAY. Worst drawdown: PMAY -13.1% vs SCHD -33.4%.
Should I hold both PMAY and SCHD?
PMAY and SCHD have a monthly-return correlation of 0.69, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, PMAY or SCHD?
PMAY yields 0.00% while SCHD yields 3.31%, so SCHD currently pays the higher dividend yield.
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