SCHD vs SPXL
Schwab US Dividend Equity ETF vs Direxion Daily S&P 500 Bull 3X ETF
Which is better, SCHD or SPXL?
Large Cap Value against Multi Alternative.
SCHD has a lower expense ratio. SPXL led over 1Y, 3Y, 5Y and the full window.
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 | SPXL |
|---|---|---|
| Expense Ratio | 0.06%Best | 0.84% |
| AUM | $112.1B | $6.8B |
| Dividend Yield | 3.00% | 0.50% |
| Holdings | 103 | 515 |
| YTD Return | +24.59% | +25.17%Best |
| 1Y Return | +28.14% | +39.76%Best |
| 3Y Return (annualized) | +15.58% | +46.35%Best |
| 5Y Return (annualized) | +9.90% | +19.20%Best |
| Volatility (annualized) | 13.6%Best | 43.1% |
| Max Drawdown | -33.4%Best | -76.9% |
| $10,000 over 5 years | $16,032 | $24,065Best |
| Fund Family | Charles Schwab Asset Management | Direxion Shares ETF Trust |
| Category | Equity | Alternative |
| Style | Large Cap Value | Multi Alternative |
| Inception | Oct 20, 2011 | Nov 5, 2008 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Oct 20, 2011 to Sep 10, 2026 (14.9 years).
SCHD vs SPXL 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
SCHD vs SPXL Performance
Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management and Direxion Daily S&P 500 Bull 3X ETF (SPXL) is an ETF from Direxion Shares ETF Trust. Over the past year SCHD returned +28.14% while SPXL returned +39.76%. Year to date, SCHD is up 24.59% versus a gain of 25.17% for SPXL.
Over three years, SCHD compounded at +15.58% per year against +46.35% for SPXL; over five years the annualized figures are +9.90% and +19.20% respectively. Across the full 15-year window we track, SPXL has the edge at +32.24% annualized vs +11.34%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXL has been the more volatile fund, with annualized monthly volatility of 43.1% 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 what each fund did in the worst stretch of the window measured above.
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 3.00% against 0.50% for SPXL.
Holdings Overlap
At least 94.9% of SCHD's money is in holdings SPXL also owns.
Stated as a floor: for SPXL, our book for it covers 92.5% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
Most of SCHD is already inside SPXL. Owning both mostly buys the same companies twice.
46 positions in common, counted across the 100 positions we hold weights for in SCHD and 507 in SPXL, against full books of 103 and 515.
Top Shared Holdings
| Stock | Weight in SCHD | Weight in SPXL | Difference |
|---|---|---|---|
| MRKMerck & Co. Inc. | 4.77% | 0.33% | 4.44% |
| AMGNAmgen Inc. | 4.70% | 0.22% | 4.48% |
| ABTAbbott Laboratories | 4.69% | 0.19% | 4.50% |
| KOCoca Cola Co. | 4.17% | 0.35% | 3.82% |
| CVXChevron Corp. | 4.02% | 0.38% | 3.64% |
| HDHome Depot Inc/The | 3.88% | 0.36% | 3.52% |
| UNHUnitedhealth Group Inc. | 3.82% | 0.39% | 3.43% |
| PGProcter & Gamble Company | 3.83% | 0.36% | 3.47% |
| VZVerizon Communications, Inc. | 3.97% | 0.21% | 3.76% |
| COPConocophillips Co | 3.94% | 0.15% | 3.79% |
94.9% of SCHD is already inside SPXL.
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 SPXL?
SCHD has an expense ratio of 0.06% while SPXL charges 0.84%. SCHD is the cheaper option, by $78 a year on a $10,000 investment.
Which performed better, SCHD or SPXL?
Over the past year SCHD returned +28.14% vs +39.76% for SPXL, so SPXL leads on 1-year performance. Over the longest common window we track (15 years), SCHD annualized +11.34% vs +32.24% for SPXL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SCHD or SPXL?
SPXL has been the more volatile fund at 43.1% 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 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 SPXL?
At least 94.9% of SCHD's money is in holdings SPXL also owns. Our book for SPXL is partial, so the real figure is this or higher. They hold 46 positions in common, counted across the 100 positions we hold weights for in SCHD and 507 in SPXL.
Which pays a higher dividend, SCHD or SPXL?
SCHD yields 3.00% while SPXL yields 0.50%, so SCHD currently pays the higher dividend yield.
Is SPXL better than SCHD?
SCHD has a lower expense ratio. SPXL led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.