SCHD vs SIZE
Schwab US Dividend Equity ETF vs iShares MSCI USA Size Factor ETF
Which is better, SCHD or SIZE?
Large Cap Value against Large Cap Blend.
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.90. SIZE is less concentrated, with 3.0% 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 | SCHD | SIZE |
|---|---|---|
| Expense Ratio | 0.06%Best | 0.15% |
| AUM | $112.1B | $434M |
| Dividend Yield | 3.00% | 1.33% |
| Holdings | 103 | 533 |
| YTD Return | +25.07%Best | +10.82% |
| 1Y Return | +27.61%Best | +12.44% |
| 3Y Return (annualized) | +15.74%Best | +15.33% |
| 5Y Return (annualized) | +9.89%Best | +7.86% |
| Volatility (annualized) | 14.2%Best | 15.3% |
| Max Drawdown | -33.4%Best | -39.1% |
| $10,000 over 5 years | $16,025Best | $14,598 |
| Top 10 Weight | 41.8% | 3.0%Best |
| Fund Family | Charles Schwab Asset Management | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Oct 20, 2011 | Apr 16, 2013 |
Volatility and max drawdown are measured over the window both funds cover: Apr 18, 2013 to Sep 11, 2026 (13.4 years).
SCHD vs SIZE 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 13.4 years both funds cover.
SCHD vs SIZE Performance
Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management and iShares MSCI USA Size Factor ETF (SIZE) is an ETF from iShares by BlackRock (US). Over the past year SCHD returned +27.61% while SIZE returned +12.44%. Year to date, SCHD is up 25.07% versus a gain of 10.82% for SIZE.
Over three years, SCHD compounded at +15.74% per year against +15.33% for SIZE; over five years the annualized figures are +9.89% and +7.86% respectively. Across the full 13-year window we track, SCHD has the edge at +10.72% annualized vs +10.64%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SIZE has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.2% 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 -33.4% for SCHD and -39.1% for SIZE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SCHD charges 0.06% per year while SIZE charges 0.15%. On a $10,000 position that is $6 vs $15 annually, a gap of $9 per year that compounds over a long holding period. On income, SCHD currently yields 3.00% against 1.33% for SIZE.
Holdings Overlap
94.8% of SCHD's money is in holdings SIZE also owns. 8.5% of SIZE's money is in holdings SCHD also owns.
Most of SCHD is already inside SIZE. Owning both mostly buys the same companies twice.
46 positions in common, counted across the 100 positions we hold weights for in SCHD and 528 in SIZE, against full books of 103 and 533.
What only one of them owns
Our book lists 464 positions for SIZE that do not appear in our book for SCHD (88.0% of the fund), and 53 for SCHD that do not appear in SIZE (5.1%).
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 SCHD | Weight in SIZE | Difference |
|---|---|---|---|
| MRKMerck & Co. Inc. | 4.77% | 0.19% | 4.58% |
| AMGNAmgen Inc. | 4.70% | 0.21% | 4.49% |
| ABTAbbott Laboratories | 4.69% | 0.20% | 4.49% |
| KOCoca Cola Co. | 4.17% | 0.17% | 4.00% |
| CVXChevron Corp. | 4.02% | 0.15% | 3.87% |
| VZVerizon Communications, Inc. | 3.97% | 0.16% | 3.81% |
| COPConocophillips Co | 3.94% | 0.16% | 3.78% |
| HDHome Depot Inc/The | 3.88% | 0.19% | 3.69% |
| PGProcter & Gamble Company | 3.83% | 0.17% | 3.66% |
| UNHUnitedhealth Group Inc. | 3.82% | 0.17% | 3.65% |
94.8% of SCHD is already inside SIZE.
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, SCHD or SIZE?
SCHD has an expense ratio of 0.06% while SIZE charges 0.15%. SCHD is the cheaper option, by $9 a year on a $10,000 investment.
Which performed better, SCHD or SIZE?
Over the past year SCHD returned +27.61% vs +12.44% for SIZE, so SCHD leads on 1-year performance. Over the longest common window we track (13 years), SCHD annualized +10.72% vs +10.64% for SIZE. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SCHD or SIZE?
SIZE has been the more volatile fund at 15.3% annualized versus 14.2% for SCHD. Worst drawdown: SCHD -33.4% vs SIZE -39.1%.
Should I hold both SCHD and SIZE?
SCHD and SIZE have a monthly-return correlation of 0.90, 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 SCHD and SIZE?
94.8% of SCHD's money is in holdings SIZE also owns. 8.5% of SIZE's is in holdings SCHD also owns. They hold 46 positions in common, counted across the 100 positions we hold weights for in SCHD and 528 in SIZE.
Which pays a higher dividend, SCHD or SIZE?
SCHD yields 3.00% while SIZE yields 1.33%, so SCHD currently pays the higher dividend yield.
Is SIZE better than SCHD?
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.90. SIZE is less concentrated, with 3.0% 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.