RWK vs SCHD
Invesco S&P MidCap 400 Revenue ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. RWK offers more diversification with 402 holdings.
Side-by-Side Comparison
| Metric | RWK | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.39% | 0.06% | |
| AUM | $1.4B | $108.7B | |
| Dividend Yield | 0.99% | 3.13% | |
| Holdings | 402 | 104 | |
| YTD Return | +17.38% | +26.50% | |
| 1Y Return | +24.50% | +31.25% | |
| 3Y Return (annualized) | +17.03% | +16.34% | |
| 5Y Return (annualized) | +12.30% | +10.10% | |
| Volatility (annualized) | 21.6% | 13.6% | |
| Max Drawdown | -56.9% | -33.4% | |
| Fund Family | Invesco (US) | Charles Schwab Asset Management | |
| Category | Equity | Equity | |
| Inception | Feb 20, 2008 | Oct 20, 2011 |
RWK vs SCHD Performance
Invesco S&P MidCap 400 Revenue ETF (RWK) 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 RWK returned +24.50% while SCHD returned +31.25%. Year to date, RWK is up 17.38% versus a gain of 26.50% for SCHD.
Over three years, RWK compounded at +17.03% per year against +16.34% for SCHD; over five years the annualized figures are +12.30% and +10.10% respectively. Across the full 15-year window we track, SCHD has the edge at +11.50% annualized vs +10.57%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RWK has been the more volatile fund, with annualized monthly volatility of 21.6% 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 -56.9% for RWK 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 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
RWK charges 0.39% per year while SCHD charges 0.06%. On a $10,000 position that is $39 vs $6 annually, a gap of $33 per year that compounds over a long holding period. On income, RWK currently yields 0.99% against 3.13% for SCHD.
Holdings Overlap
RWK and SCHD share 18 holdings out of 475 unique holdings combined, representing a 3.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, RWK or SCHD?
RWK has an expense ratio of 0.39% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $33 per year of difference.
Which performed better, RWK or SCHD?
Over the past year RWK returned +24.50% vs +31.25% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), RWK annualized +10.57% vs +11.50% for SCHD. Past performance does not guarantee future results.
Which is riskier, RWK or SCHD?
RWK has been the more volatile fund at 21.6% annualized versus 13.6% for SCHD. Worst drawdown: RWK -56.9% vs SCHD -33.4%.
Should I hold both RWK and SCHD?
RWK and SCHD have a monthly-return correlation of 0.87, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between RWK and SCHD?
RWK and SCHD share 18 common holdings with a 3.2% weight overlap. Combined, they hold 475 unique securities.
Which pays a higher dividend, RWK or SCHD?
RWK yields 0.99% while SCHD yields 3.13%, so SCHD currently pays the higher dividend yield.
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