SCHD vs SPXL
Schwab US Dividend Equity ETF vs Direxion Daily S&P 500 Bull 3X ETF
Quick Verdict
SCHD has a lower expense ratio. SPXL delivered stronger 1-year returns. SPXL offers more diversification with 504 holdings.
Side-by-Side Comparison
| Metric | SCHD | SPXL | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 0.84% | |
| AUM | $103.7B | $6.5B | |
| Dividend Yield | 3.31% | 0.53% | |
| Holdings | 104 | 515 | |
| YTD Return | +26.21% | +36.55% | |
| 1Y Return | +29.99% | +56.23% | |
| 3Y Return (annualized) | +15.73% | +50.15% | |
| 5Y Return (annualized) | +9.67% | +21.16% | |
| Volatility (annualized) | 13.6% | 46.1% | |
| Max Drawdown | -33.4% | -76.9% | |
| Fund Family | Charles Schwab Asset Management | Direxion Shares ETF Trust | |
| Category | Equity | Alternative | |
| Inception | Oct 20, 2011 | Nov 5, 2008 |
SCHD vs SPXL Performance
Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management and Direxion Daily S&P 500 Bull 3X ETF (SPXL) is a ETF from Direxion Shares ETF Trust. Over the past year SCHD returned +29.99% while SPXL returned +56.23%. Year to date, SCHD is up 26.21% versus a gain of 36.55% for SPXL.
Over three years, SCHD compounded at +15.73% per year against +50.15% for SPXL; over five years the annualized figures are +9.67% and +21.16% respectively. Across the full 15-year window we track, SPXL has the edge at +29.09% annualized vs +11.50%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXL has been the more volatile fund, with annualized monthly volatility of 46.1% compared with 13.6% 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 -76.9% for SPXL. 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 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SCHD charges 0.06% per year while SPXL charges 0.84%. On a $10,000 position that is $6 vs $84 annually, a gap of $78 per year that compounds over a long holding period. On income, SCHD currently yields 3.31% against 0.53% for SPXL.
Holdings Overlap
SCHD and SPXL share 46 holdings out of 558 unique holdings combined, representing a 5.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SCHD or SPXL?
SCHD has an expense ratio of 0.06% while SPXL charges 0.84%. SCHD is the cheaper option. On a $10,000 investment, that is $78 per year of difference.
Which performed better, SCHD or SPXL?
Over the past year SCHD returned +29.99% vs +56.23% for SPXL, so SPXL leads on 1-year performance. Over the longest common window we track (15 years), SCHD annualized +11.50% vs +29.09% for SPXL. Past performance does not guarantee future results.
Which is riskier, SCHD or SPXL?
SPXL has been the more volatile fund at 46.1% annualized versus 13.6% for SCHD. Worst drawdown: SCHD -33.4% vs SPXL -76.9%.
Should I hold both SCHD and SPXL?
SCHD and SPXL have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SCHD and SPXL?
SCHD and SPXL share 46 common holdings with a 5.7% weight overlap. Combined, they hold 558 unique securities.
Which pays a higher dividend, SCHD or SPXL?
SCHD yields 3.31% while SPXL yields 0.53%, so SCHD currently pays the higher dividend yield.
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