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. SCHD is less concentrated, with 41.8% of the fund in its ten largest positions against 48.3%.
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 | $108.9B | $7.0B |
| Dividend Yield | 3.00% | 0.50% |
| Holdings | 206 | 1,030 |
| YTD Return | +22.08% | +35.16%Best |
| 1Y Return | +26.66% | +38.64%Best |
| 3Y Return (annualized) | +16.06% | +55.15%Best |
| 5Y Return (annualized) | +9.39% | +22.82%Best |
| Volatility (annualized) | 13.7%Best | 43.0% |
| Max Drawdown | -33.4%Best | -76.9% |
| $10,000 over 5 years | $15,663 | $27,948Best |
| Top 10 Weight | 41.8%Best | 48.3% |
| 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 |
Volatility and max drawdown are measured over the window both funds cover: Oct 20, 2011 to Oct 9, 2026 (15 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 +26.66% while SPXL returned +38.64%. Year to date, SCHD is up 22.08% versus a gain of 35.16% for SPXL.
Over three years, SCHD compounded at +16.06% per year against +55.15% for SPXL; over five years the annualized figures are +9.39% and +22.82% respectively. Across the full 15-year window we track, SPXL has the edge at +32.72% annualized vs +11.12%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXL has been the more volatile fund, with annualized monthly volatility of 43.0% compared with 13.7% 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 0.84. 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
94.8% of SCHD's money is in holdings SPXL also owns. 5.9% of SPXL's money is in holdings SCHD also owns.
Most of SCHD is already inside SPXL. Owning both mostly buys the same companies twice.
45 positions in common, counted across the 99 positions we hold weights for in SCHD and 506 in SPXL, against full books of 206 and 1,030.
What only one of them owns
Our book lists 455 positions for SPXL that do not appear in our book for SCHD (91.3% of the fund), and 53 for SCHD that do not appear in SPXL (5.1%).
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 SPXL | Difference |
|---|---|---|---|
| MRKMerck & Company Inc | 4.77% | 0.40% | 4.37% |
| CVXChevron Corp | 4.29% | 0.44% | 3.85% |
| KOCoca Cola Co. | 4.26% | 0.39% | 3.87% |
| ABTAbbott Laboratories | 4.44% | 0.20% | 4.24% |
| AMGNAmgen Inc. | 4.24% | 0.23% | 4.01% |
| COPConocophillips Common Stock USD 0.01 | 4.19% | 0.19% | 4.00% |
| VZVerizon Communications Inc Vz | 4.12% | 0.24% | 3.88% |
| PGProcter & Gamble Company | 3.94% | 0.38% | 3.56% |
| UNHUnitedhealth Group Incorporated | 3.82% | 0.39% | 3.43% |
| HDHome Depot Inc/The | 3.75% | 0.35% | 3.40% |
94.8% 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 +26.66% vs +38.64% for SPXL, so SPXL leads on 1-year performance. Over the longest common window we track (15 years), SCHD annualized +11.12% vs +32.72% 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 43.0% annualized versus 13.7% 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 0.84, 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?
94.8% of SCHD's money is in holdings SPXL also owns. 5.9% of SPXL's is in holdings SCHD also owns. They hold 45 positions in common, counted across the 99 positions we hold weights for in SCHD and 506 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. SCHD is less concentrated, with 41.8% of the fund in its ten largest positions against 48.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.