SCHD vs SPIP
Schwab US Dividend Equity ETF vs State Street SPDR Portfolio TIPS ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SCHD offers more diversification with 100 holdings.
Side-by-Side Comparison
| Metric | SCHD | SPIP | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 0.12% | |
| AUM | $103.7B | $1.0B | |
| Dividend Yield | 3.31% | 4.77% | |
| Holdings | 104 | 51 | |
| YTD Return | +24.26% | -0.03% | |
| 1Y Return | +31.38% | +1.07% | |
| 3Y Return (annualized) | +15.08% | +3.47% | |
| 5Y Return (annualized) | +9.72% | +0.07% | |
| Volatility (annualized) | 13.6% | 5.9% | |
| Max Drawdown | -33.4% | -18.7% | |
| Fund Family | Charles Schwab Asset Management | State Street Investment Management | |
| Category | Equity | Fixed Income | |
| Inception | Oct 20, 2011 | May 25, 2007 |
SCHD vs SPIP Performance
Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management and State Street SPDR Portfolio TIPS ETF (SPIP) is a ETF from State Street Investment Management. Over the past year SCHD returned +31.38% while SPIP returned +1.07%. Year to date, SCHD is up 24.26% versus a loss of 0.03% for SPIP.
Over three years, SCHD compounded at +15.08% per year against +3.47% for SPIP; over five years the annualized figures are +9.72% and +0.07% respectively. Across the full 15-year window we track, SCHD has the edge at +11.39% annualized vs +1.56%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 5.9% for SPIP. 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 -18.7% for SPIP. 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 0.32. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SCHD charges 0.06% per year while SPIP 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 3.31% against 4.77% for SPIP.
Holdings Overlap
SCHD and SPIP share 0 holdings out of 145 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 SPIP?
SCHD has an expense ratio of 0.06% while SPIP charges 0.12%. SCHD is the cheaper option. On a $10,000 investment, that is $6 per year of difference.
Which performed better, SCHD or SPIP?
Over the past year SCHD returned +31.38% vs +1.07% for SPIP, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), SCHD annualized +11.39% vs +1.56% for SPIP. Past performance does not guarantee future results.
Which is riskier, SCHD or SPIP?
SCHD has been the more volatile fund at 13.6% annualized versus 5.9% for SPIP. Worst drawdown: SCHD -33.4% vs SPIP -18.7%.
Should I hold both SCHD and SPIP?
SCHD and SPIP have a monthly-return correlation of 0.32, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SCHD and SPIP?
SCHD and SPIP share 0 common holdings with a 0.0% weight overlap. Combined, they hold 145 unique securities.
Which pays a higher dividend, SCHD or SPIP?
SCHD yields 3.31% while SPIP yields 4.77%, so SPIP currently pays the higher dividend yield.
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