SAA vs SCHD
ProShares Ultra SmallCap600 vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SAA delivered stronger 1-year returns. SAA offers more diversification with 600 holdings.
Side-by-Side Comparison
| Metric | SAA | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.06% | |
| AUM | $29M | $103.7B | |
| Dividend Yield | 0.74% | 3.31% | |
| Holdings | 607 | 104 | |
| YTD Return | +44.58% | +24.26% | |
| 1Y Return | +70.98% | +31.38% | |
| 3Y Return (annualized) | +18.52% | +15.08% | |
| 5Y Return (annualized) | +5.30% | +9.72% | |
| Volatility (annualized) | 41.1% | 13.6% | |
| Max Drawdown | -88.1% | -33.4% | |
| Fund Family | ProShares | Charles Schwab Asset Management | |
| Category | Alternative | Equity | |
| Inception | Jan 23, 2007 | Oct 20, 2011 |
SAA vs SCHD Performance
ProShares Ultra SmallCap600 (SAA) is a ETF from ProShares and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year SAA returned +70.98% while SCHD returned +31.38%. Year to date, SAA is up 44.58% versus a gain of 24.26% for SCHD.
Over three years, SAA compounded at +18.52% per year against +15.08% for SCHD; over five years the annualized figures are +5.30% and +9.72% respectively. Across the full 15-year window we track, SCHD has the edge at +11.39% annualized vs +9.15%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SAA has been the more volatile fund, with annualized monthly volatility of 41.1% 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 -88.1% for SAA 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SAA charges 0.95% per year while SCHD charges 0.06%. On a $10,000 position that is $95 vs $6 annually, a gap of $89 per year that compounds over a long holding period. On income, SAA currently yields 0.74% against 3.31% for SCHD.
Holdings Overlap
SAA and SCHD share 24 holdings out of 676 unique holdings combined, representing a 1.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SAA or SCHD?
SAA has an expense ratio of 0.95% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $89 per year of difference.
Which performed better, SAA or SCHD?
Over the past year SAA returned +70.98% vs +31.38% for SCHD, so SAA leads on 1-year performance. Over the longest common window we track (15 years), SAA annualized +9.15% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, SAA or SCHD?
SAA has been the more volatile fund at 41.1% annualized versus 13.6% for SCHD. Worst drawdown: SAA -88.1% vs SCHD -33.4%.
Should I hold both SAA and SCHD?
SAA and SCHD have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SAA and SCHD?
SAA and SCHD share 24 common holdings with a 1.4% weight overlap. Combined, they hold 676 unique securities.
Which pays a higher dividend, SAA or SCHD?
SAA yields 0.74% while SCHD yields 3.31%, so SCHD currently pays the higher dividend yield.
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