PMO vs SCHD
Putnam Municipal Opportunities Trust vs Schwab US Dividend Equity ETF
Which is better, PMO or SCHD?
Municipal Bond against Large Cap Value.
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window.
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 | PMO | SCHD |
|---|---|---|
| Expense Ratio | 1.02% | 0.06%Best |
| AUM | $4,829 | $112.1B |
| Dividend Yield | 4.31% | 3.00% |
| Holdings | 285 | 103 |
| YTD Return | -10.06% | +21.33%Best |
| 1Y Return | -5.30% | +25.15%Best |
| 3Y Return (annualized) | +3.73% | +15.43%Best |
| 5Y Return (annualized) | -3.69% | +9.32%Best |
| Volatility (annualized) | 13.0%Best | 13.7% |
| Max Drawdown | -36.5% | -33.4%Best |
| $10,000 over 5 years | $8,286 | $15,613Best |
| Fund Family | Putnam Investments | Charles Schwab Asset Management |
| Category | Tax Preferred | Equity |
| Style | Municipal Bond | Large Cap Value |
| Inception | May 28, 1993 | Oct 20, 2011 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Oct 20, 2011 to Sep 24, 2026 (14.9 years).
PMO 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
PMO vs SCHD Performance
Putnam Municipal Opportunities Trust (PMO) is an ETF from Putnam Investments and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year PMO returned -5.30% while SCHD returned +25.15%. Year to date, PMO is down 10.06% versus a gain of 21.33% for SCHD.
Over three years, PMO compounded at +3.73% per year against +15.43% for SCHD; over five years the annualized figures are -3.69% and +9.32% respectively. Across the full 15-year window we track, SCHD has the edge at +11.11% annualized vs +0.13%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.7% compared with 13.0% for PMO. 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 -36.5% for PMO and -33.4% 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 0.42. They move together some of the time, and apart the rest.
Fees and Cost Over Time
PMO charges 1.02% per year while SCHD charges 0.06%. On a $10,000 position that is $102 vs $6 annually, a gap of $96 per year that compounds over a long holding period. On income, PMO currently yields 4.31% against 3.00% for SCHD.
Holdings Overlap
We hold position weights for 101 holdings in PMO and 100 in SCHD, totalling 47.7% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 92 days apart, PMO as of May 31, 2026 and SCHD as of Aug 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 101 positions we hold weights for in PMO and 100 in SCHD, against full books of 285 and 103.
You are not choosing between two funds in isolation.
Whichever of PMO and SCHD you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PMO or SCHD?
PMO has an expense ratio of 1.02% while SCHD charges 0.06%. SCHD is the cheaper option, by $96 a year on a $10,000 investment.
Which performed better, PMO or SCHD?
Over the past year PMO returned -5.30% vs +25.15% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), PMO annualized +0.13% vs +11.11% for SCHD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PMO or SCHD?
SCHD has been the more volatile fund at 13.7% annualized versus 13.0% for PMO. Worst drawdown: PMO -36.5% vs SCHD -33.4%.
Should I hold both PMO and SCHD?
PMO and SCHD have a monthly-return correlation of 0.42, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, PMO or SCHD?
PMO yields 4.31% while SCHD yields 3.00%, so PMO currently pays the higher dividend yield.
Is SCHD better than PMO?
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.