SCHD vs SPCZ
Schwab US Dividend Equity ETF vs RiverNorth Enhanced Pre-Merger SPAC ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SPCZ offers more diversification with 171 holdings.
Side-by-Side Comparison
| Metric | SCHD | SPCZ | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 0.90% | |
| AUM | $108.7B | $7M | |
| Dividend Yield | 3.13% | 9.67% | |
| Holdings | 104 | 171 | |
| YTD Return | +28.70% | +2.04% | |
| 1Y Return | +32.27% | -5.75% | |
| 3Y Return (annualized) | +17.27% | +2.41% | |
| 5Y Return (annualized) | +10.23% | - | |
| Volatility (annualized) | 13.7% | 6.5% | |
| Max Drawdown | -33.4% | -12.3% | |
| Fund Family | Charles Schwab Asset Management | RiverNorth | |
| Category | Equity | Equity | |
| Inception | Oct 20, 2011 | Jul 11, 2022 |
SCHD vs SPCZ Performance
Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management and RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ) is a ETF from RiverNorth. Over the past year SCHD returned +32.27% while SPCZ returned -5.75%. Year to date, SCHD is up 28.70% versus a gain of 2.04% for SPCZ.
Over three years, SCHD compounded at +17.27% per year against +2.41% for SPCZ. Across the full 4-year window we track, SCHD has the edge at +11.63% annualized vs +3.33%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.7% compared with 6.5% for SPCZ. 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 -12.3% for SPCZ. 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 -0.11. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SCHD charges 0.06% per year while SPCZ charges 0.90%. On a $10,000 position that is $6 vs $90 annually, a gap of $84 per year that compounds over a long holding period. On income, SCHD currently yields 3.13% against 9.67% for SPCZ.
Holdings Overlap
SCHD and SPCZ share 0 holdings out of 187 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SCHD or SPCZ?
SCHD has an expense ratio of 0.06% while SPCZ charges 0.90%. SCHD is the cheaper option. On a $10,000 investment, that is $84 per year of difference.
Which performed better, SCHD or SPCZ?
Over the past year SCHD returned +32.27% vs -5.75% for SPCZ, so SCHD leads on 1-year performance. Over the longest common window we track (4 years), SCHD annualized +11.63% vs +3.33% for SPCZ. Past performance does not guarantee future results.
Which is riskier, SCHD or SPCZ?
SCHD has been the more volatile fund at 13.7% annualized versus 6.5% for SPCZ. Worst drawdown: SCHD -33.4% vs SPCZ -12.3%.
Should I hold both SCHD and SPCZ?
SCHD and SPCZ have a monthly-return correlation of -0.11, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SCHD and SPCZ?
SCHD and SPCZ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 187 unique securities.
Which pays a higher dividend, SCHD or SPCZ?
SCHD yields 3.13% while SPCZ yields 9.67%, so SPCZ currently pays the higher dividend yield.
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