SCHD vs SPLV
Schwab US Dividend Equity ETF vs Invesco S&P 500 Low Volatility ETF
Which is better, SCHD or SPLV?
SCHD has been ahead.
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window. SPLV is less concentrated, with 12.5% 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 | SPLV |
|---|---|---|
| Expense Ratio | 0.06%Best | 0.25% |
| AUM | $112.1B | $7.1B |
| Dividend Yield | 3.00% | 2.18% |
| Holdings | 103 | 111 |
| YTD Return | +23.46%Best | +3.45% |
| 1Y Return | +27.20%Best | +2.67% |
| 3Y Return (annualized) | +15.41%Best | +8.09% |
| 5Y Return (annualized) | +10.16%Best | +5.36% |
| Volatility (annualized) | 13.7% | 11.6%Best |
| Max Drawdown | -33.4%Best | -36.6% |
| $10,000 over 5 years | $16,223Best | $12,983 |
| Top 10 Weight | 41.8% | 12.5%Best |
| Fund Family | Charles Schwab Asset Management | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Oct 20, 2011 | May 5, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Oct 20, 2011 to Sep 18, 2026 (14.9 years).
SCHD vs SPLV 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 14.9 years both funds cover.
SCHD vs SPLV Performance
Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management and Invesco S&P 500 Low Volatility ETF (SPLV) is an ETF from Invesco (US). Over the past year SCHD returned +27.20% while SPLV returned +2.67%. Year to date, SCHD is up 23.46% versus a gain of 3.45% for SPLV.
Over three years, SCHD compounded at +15.41% per year against +8.09% for SPLV; over five years the annualized figures are +10.16% and +5.36% respectively. Across the full 15-year window we track, SCHD has the edge at +11.25% annualized vs +8.35%.
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 11.6% for SPLV. 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 -36.6% for SPLV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SCHD charges 0.06% per year while SPLV charges 0.25%. On a $10,000 position that is $6 vs $25 annually, a gap of $19 per year that compounds over a long holding period. On income, SCHD currently yields 3.00% against 2.18% for SPLV.
Holdings Overlap
22.9% of SCHD's money is in holdings SPLV also owns. 8.7% of SPLV's money is in holdings SCHD also owns.
SCHD and SPLV share little of their money.
9 positions in common, counted across the 100 positions we hold weights for in SCHD and 101 in SPLV, against full books of 103 and 111.
What only one of them owns
Our book lists 91 positions for SPLV that do not appear in our book for SCHD (90.3% of the fund), and 90 for SCHD that do not appear in SPLV (77.0%).
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 SPLV | Difference |
|---|---|---|---|
| KOCoca Cola Co. | 4.17% | 1.23% | 2.94% |
| CVXChevron Corp | 4.02% | 0.88% | 3.14% |
| PGProcter & Gamble Company | 3.83% | 1.05% | 2.78% |
| PEPPepsico Inc. | 3.64% | 0.77% | 2.87% |
| ADPAutomatic Data Processing, Inc. | 2.79% | 1.07% | 1.72% |
| MOAltria Group Inc | 2.79% | 0.80% | 1.99% |
| CINFCincinnati Financial Corp. | 0.64% | 1.04% | 0.40% |
| PFGPrincipalfinancialgroupinc. | 0.53% | 0.93% | 0.40% |
| SNASnap-On Inc. | 0.49% | 0.96% | 0.47% |
22.9% of SCHD is already inside SPLV.
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 SPLV?
SCHD has an expense ratio of 0.06% while SPLV charges 0.25%. SCHD is the cheaper option, by $19 a year on a $10,000 investment.
Which performed better, SCHD or SPLV?
Over the past year SCHD returned +27.20% vs +2.67% for SPLV, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), SCHD annualized +11.25% vs +8.35% for SPLV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SCHD or SPLV?
SCHD has been the more volatile fund at 13.7% annualized versus 11.6% for SPLV. Worst drawdown: SCHD -33.4% vs SPLV -36.6%.
Should I hold both SCHD and SPLV?
SCHD and SPLV have a monthly-return correlation of 0.82, 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 SPLV?
22.9% of SCHD's money is in holdings SPLV also owns. 8.7% of SPLV's is in holdings SCHD also owns. They hold 9 positions in common, counted across the 100 positions we hold weights for in SCHD and 101 in SPLV.
Which pays a higher dividend, SCHD or SPLV?
SCHD yields 3.00% while SPLV yields 2.18%, so SCHD currently pays the higher dividend yield.
Is SPLV better than SCHD?
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window. SPLV is less concentrated, with 12.5% 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.