RWL vs SCHD
Invesco S&P 500 Revenue ETF vs Schwab US Dividend Equity ETF
Which is better, RWL or SCHD?
Each has led over a different period.
SCHD has a lower expense ratio. RWL led over 3Y, 5Y and the full window, SCHD over 1Y. The two have moved almost in lockstep, correlation 0.92. RWL is less concentrated, with 23.3% 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 | RWL | SCHD |
|---|---|---|
| Expense Ratio | 0.39% | 0.06%Best |
| AUM | $10.0B | $112.1B |
| Dividend Yield | 1.20% | 3.00% |
| Holdings | 507 | 103 |
| YTD Return | +16.91% | +25.88%Best |
| 1Y Return | +23.90% | +30.22%Best |
| 3Y Return (annualized) | +19.99%Best | +16.05% |
| 5Y Return (annualized) | +14.20%Best | +10.17% |
| Volatility (annualized) | 14.1% | 13.6%Best |
| Max Drawdown | -36.5% | -33.4%Best |
| $10,000 over 5 years | $19,424Best | $16,230 |
| Top 10 Weight | 23.3%Best | 41.8% |
| Fund Family | Invesco (US) | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Feb 19, 2008 | Oct 20, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Oct 20, 2011 to Sep 14, 2026 (14.9 years).
RWL 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 covers the 14.9 years both funds cover.
RWL vs SCHD Performance
Invesco S&P 500 Revenue ETF (RWL) is an ETF from Invesco (US) and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year RWL returned +23.90% while SCHD returned +30.22%. Year to date, RWL is up 16.91% versus a gain of 25.88% for SCHD.
Over three years, RWL compounded at +19.99% per year against +16.05% for SCHD; over five years the annualized figures are +14.20% and +10.17% respectively. Across the full 15-year window we track, RWL has the edge at +13.29% annualized vs +11.41%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RWL has been the more volatile fund, with annualized monthly volatility of 14.1% 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 -36.5% for RWL 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 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
RWL 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, RWL currently yields 1.20% against 3.00% for SCHD.
Holdings Overlap
13.5% of RWL's money is in holdings SCHD also owns. 94.9% of SCHD's money is in holdings RWL also owns.
Most of SCHD is already inside RWL. Owning both mostly buys the same companies twice.
46 positions in common, counted across the 496 positions we hold weights for in RWL and 100 in SCHD, against full books of 507 and 103.
What only one of them owns
Our book lists 53 positions for SCHD that do not appear in our book for RWL (5.1% of the fund), and 443 for RWL that do not appear in SCHD (85.5%).
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.
Top Shared Holdings
| Stock | Weight in RWL | Weight in SCHD | Difference |
|---|---|---|---|
| UNHUnitedhealth Group Incorporated | 2.11% | 3.82% | 1.71% |
| MRKMerck & Company Inc | 0.40% | 4.77% | 4.37% |
| CVXChevron Corp | 1.02% | 4.02% | 3.00% |
| ABTAbbott Laboratories | 0.27% | 4.69% | 4.42% |
| AMGNAmgen Inc. | 0.23% | 4.70% | 4.47% |
| HDHome Depot Inc/The | 0.84% | 3.88% | 3.04% |
| VZVerizon Communic | 0.73% | 3.97% | 3.24% |
| KOCoca Cola Co. | 0.26% | 4.17% | 3.91% |
| COPConocophillips Common Stock USD 0.01 | 0.32% | 3.94% | 3.62% |
| PGProcter & Gamble Company | 0.42% | 3.83% | 3.41% |
94.9% of SCHD is already inside RWL.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, RWL or SCHD?
RWL has an expense ratio of 0.39% while SCHD charges 0.06%. SCHD is the cheaper option, by $33 a year on a $10,000 investment.
Which performed better, RWL or SCHD?
Over the past year RWL returned +23.90% vs +30.22% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), RWL annualized +13.29% vs +11.41% for SCHD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, RWL or SCHD?
RWL has been the more volatile fund at 14.1% annualized versus 13.6% for SCHD. Worst drawdown: RWL -36.5% vs SCHD -33.4%.
Should I hold both RWL and SCHD?
RWL and SCHD have a monthly-return correlation of 0.92, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between RWL and SCHD?
94.9% of SCHD's money is in holdings RWL also owns. 94.9% of SCHD's is in holdings RWL also owns. They hold 46 positions in common, counted across the 496 positions we hold weights for in RWL and 100 in SCHD.
Which pays a higher dividend, RWL or SCHD?
RWL yields 1.20% while SCHD yields 3.00%, so SCHD currently pays the higher dividend yield.
Is SCHD better than RWL?
SCHD has a lower expense ratio. RWL led over 3Y, 5Y and the full window, SCHD over 1Y. The two have moved almost in lockstep, correlation 0.92. RWL is less concentrated, with 23.3% 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.