SCHD vs SMLV
Schwab US Dividend Equity ETF vs State Street SPDR US Small Cap Low Volatility Index ETF
Which is better, SCHD or SMLV?
Large Cap Value against Small Cap Blend.
SCHD has a lower expense ratio. SCHD led over 1Y, 5Y and the full window, SMLV over 3Y. SMLV is less concentrated, with 5.8% of the fund in its ten largest positions against 41.5%.
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 | SMLV |
|---|---|---|
| Expense Ratio | 0.06%Best | 0.12% |
| AUM | $112.2B | $258M |
| Dividend Yield | 3.13% | 2.21% |
| Holdings | 103 | 401 |
| YTD Return | +26.13%Best | +21.25% |
| 1Y Return | +30.01%Best | +21.01% |
| 3Y Return (annualized) | +16.09% | +18.68%Best |
| 5Y Return (annualized) | +9.95%Best | +9.49% |
| Volatility (annualized) | 14.1%Best | 17.5% |
| Max Drawdown | -33.4%Best | -42.9% |
| $10,000 over 5 years | $16,069Best | $15,735 |
| Top 10 Weight | 41.5% | 5.8%Best |
| Fund Family | Charles Schwab Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Small Cap Blend |
| Inception | Oct 20, 2011 | Feb 20, 2013 |
Volatility and max drawdown are measured over the window both funds cover: Feb 21, 2013 to Sep 8, 2026 (13.5 years).
SCHD vs SMLV 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 13.5 years both funds cover.
SCHD vs SMLV Performance
Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management and State Street SPDR US Small Cap Low Volatility Index ETF (SMLV) is an ETF from State Street Investment Management. Over the past year SCHD returned +30.01% while SMLV returned +21.01%. Year to date, SCHD is up 26.13% versus a gain of 21.25% for SMLV.
Over three years, SCHD compounded at +16.09% per year against +18.68% for SMLV; over five years the annualized figures are +9.95% and +9.49% respectively. Across the full 14-year window we track, SCHD has the edge at +11.05% annualized vs +8.57%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SMLV has been the more volatile fund, with annualized monthly volatility of 17.5% compared with 14.1% 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 -42.9% for SMLV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SCHD charges 0.06% per year while SMLV charges 0.12%. On a $10,000 position that is $6 vs $12 annually, a gap of $6 per year that compounds over a long holding period. On income, SCHD currently yields 3.13% against 2.21% for SMLV.
Holdings Overlap
1.1% of SCHD's money is in holdings SMLV also owns. 7.4% of SMLV's money is in holdings SCHD also owns.
SMLV and SCHD share little of their money.
21 positions in common, counted across the 100 positions we hold weights for in SCHD and 396 in SMLV, against full books of 103 and 401.
What only one of them owns
Our book lists 361 positions for SMLV that do not appear in our book for SCHD (89.7% of the fund), and 78 for SCHD that do not appear in SMLV (98.6%).
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 SMLV | Difference |
|---|---|---|---|
| CHCOCity Holding Co Common Stock Usd2.5 | 0.05% | 0.62% | 0.57% |
| MSMMsc Industrial Direct Co Inc | 0.14% | 0.51% | 0.37% |
| FHIFederated Investors Inc | 0.11% | 0.37% | 0.26% |
| MTNVail Resorts Inc. | 0.13% | 0.34% | 0.21% |
| THFFFirst Financial Corporation | 0.02% | 0.45% | 0.43% |
| GABCGerman American Bancorp Inc Common Stock | 0.05% | 0.42% | 0.37% |
| SRCE1St Source Corp_None_0 | 0.04% | 0.42% | 0.38% |
| CCBGCapital City Bank Group Inc | 0.02% | 0.42% | 0.40% |
| FLOFlowers Foods Inc | 0.04% | 0.39% | 0.35% |
| OFG:PROfg Bancorp Common Stock | 0.06% | 0.34% | 0.28% |
You are not choosing between two funds in isolation.
Whichever of SCHD and SMLV 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, SCHD or SMLV?
SCHD has an expense ratio of 0.06% while SMLV charges 0.12%. SCHD is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, SCHD or SMLV?
Over the past year SCHD returned +30.01% vs +21.01% for SMLV, so SCHD leads on 1-year performance. Over the longest common window we track (14 years), SCHD annualized +11.05% vs +8.57% for SMLV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SCHD or SMLV?
SMLV has been the more volatile fund at 17.5% annualized versus 14.1% for SCHD. Worst drawdown: SCHD -33.4% vs SMLV -42.9%.
Should I hold both SCHD and SMLV?
SCHD and SMLV have a monthly-return correlation of 0.81, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SCHD and SMLV?
7.4% of SMLV's money is in holdings SCHD also owns. 7.4% of SMLV's is in holdings SCHD also owns. They hold 21 positions in common, counted across the 100 positions we hold weights for in SCHD and 396 in SMLV.
Which pays a higher dividend, SCHD or SMLV?
SCHD yields 3.13% while SMLV yields 2.21%, so SCHD currently pays the higher dividend yield.
Is SMLV better than SCHD?
SCHD has a lower expense ratio. SCHD led over 1Y, 5Y and the full window, SMLV over 3Y. SMLV is less concentrated, with 5.8% of the fund in its ten largest positions against 41.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.