RAYE vs SCHD
Rayliant Quantamental Emerging Market ex-China Equity ETF vs Schwab US Dividend Equity ETF
Which is better, RAYE or SCHD?
Large Cap Blend against Large Cap Value.
SCHD has a lower expense ratio. RAYE led over the full window, SCHD over 1Y. RAYE is less concentrated, with 37.8% of the fund in its ten largest positions against 41.8%.
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 | RAYE | SCHD |
|---|---|---|
| Expense Ratio | 0.88% | 0.06%Best |
| AUM | $37M | $112.1B |
| Dividend Yield | 2.93% | 3.00% |
| Holdings | 119 | 103 |
| Volatility (annualized) | 15.7% | 14.7%Best |
| Max Drawdown | -26.9% | -16.9%Best |
| $10,000 over 4 years | $12,318Best | $11,980 |
| Top 10 Weight | 37.8%Best | 41.8% |
| Fund Family | The Advisors Inner Circle Fund | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Dec 15, 2021 | Oct 20, 2011 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 277 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. RAYE has data through Dec 19, 2025 and SCHD through Sep 22, 2026.
Volatility and max drawdown, and the $10,000 over 4 years row, are measured over the window both funds cover: Dec 16, 2021 to Dec 19, 2025 (4 years).
Risk: Volatility and Drawdowns
RAYE has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 14.7% 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 -26.9% for RAYE and -16.9% 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 0.51. They move together some of the time, and apart the rest.
Fees and Cost Over Time
RAYE charges 0.88% per year while SCHD charges 0.06%. On a $10,000 position that is $88 vs $6 annually, a gap of $82 per year that compounds over a long holding period. On income, RAYE currently yields 2.93% against 3.00% for SCHD.
Holdings Overlap
We hold position weights for 98 holdings in RAYE and 100 in SCHD, totalling 96.7% 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 367 days apart, RAYE as of Aug 29, 2025 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 98 positions we hold weights for in RAYE and 100 in SCHD, against full books of 119 and 103.
What only one of them owns
Our book lists 99 positions for SCHD that do not appear in our book for RAYE (99.9% of the fund), and 4 for RAYE that do not appear in SCHD (3.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of RAYE 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, RAYE or SCHD?
RAYE has an expense ratio of 0.88% while SCHD charges 0.06%. SCHD is the cheaper option, by $82 a year on a $10,000 investment.
Which is riskier, RAYE or SCHD?
RAYE has been the more volatile fund at 15.7% annualized versus 14.7% for SCHD. Worst drawdown: RAYE -26.9% vs SCHD -16.9%.
Should I hold both RAYE and SCHD?
RAYE and SCHD have a monthly-return correlation of 0.51, 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, RAYE or SCHD?
RAYE yields 2.93% while SCHD yields 3.00%, so SCHD currently pays the higher dividend yield.
Is SCHD better than RAYE?
SCHD has a lower expense ratio. RAYE led over the full window, SCHD over 1Y. RAYE is less concentrated, with 37.8% of the fund in its ten largest positions against 41.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.