SCHD vs SPYC
Schwab US Dividend Equity ETF vs Simplify US Equity PLUS Convexity 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 | SPYC | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 0.53% | |
| AUM | $103.7B | $111M | |
| Dividend Yield | 3.31% | 0.89% | |
| Holdings | 104 | 14 | |
| YTD Return | +24.26% | +12.07% | |
| 1Y Return | +31.38% | +18.15% | |
| 3Y Return (annualized) | +15.08% | +18.70% | |
| 5Y Return (annualized) | +9.72% | +9.75% | |
| Volatility (annualized) | 13.6% | 16.6% | |
| Max Drawdown | -33.4% | -28.5% | |
| Fund Family | Charles Schwab Asset Management | Simplify Exchange Traded Funds | |
| Category | Equity | Equity | |
| Inception | Oct 20, 2011 | Sep 3, 2020 |
SCHD vs SPYC Performance
Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management and Simplify US Equity PLUS Convexity ETF (SPYC) is a ETF from Simplify Exchange Traded Funds. Over the past year SCHD returned +31.38% while SPYC returned +18.15%. Year to date, SCHD is up 24.26% versus a gain of 12.07% for SPYC.
Over three years, SCHD compounded at +15.08% per year against +18.70% for SPYC; over five years the annualized figures are +9.72% and +9.75% respectively. Across the full 6-year window we track, SPYC has the edge at +12.98% annualized vs +11.39%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPYC has been the more volatile fund, with annualized monthly volatility of 16.6% 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 -28.5% for SPYC. 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 0.57. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SCHD charges 0.06% per year while SPYC charges 0.53%. On a $10,000 position that is $6 vs $53 annually, a gap of $47 per year that compounds over a long holding period. On income, SCHD currently yields 3.31% against 0.89% for SPYC.
Holdings Overlap
SCHD and SPYC share 0 holdings out of 101 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 SPYC?
SCHD has an expense ratio of 0.06% while SPYC charges 0.53%. SCHD is the cheaper option. On a $10,000 investment, that is $47 per year of difference.
Which performed better, SCHD or SPYC?
Over the past year SCHD returned +31.38% vs +18.15% for SPYC, so SCHD leads on 1-year performance. Over the longest common window we track (6 years), SCHD annualized +11.39% vs +12.98% for SPYC. Past performance does not guarantee future results.
Which is riskier, SCHD or SPYC?
SPYC has been the more volatile fund at 16.6% annualized versus 13.6% for SCHD. Worst drawdown: SCHD -33.4% vs SPYC -28.5%.
Should I hold both SCHD and SPYC?
SCHD and SPYC have a monthly-return correlation of 0.57, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SCHD and SPYC?
SCHD and SPYC share 0 common holdings with a 0.0% weight overlap. Combined, they hold 101 unique securities.
Which pays a higher dividend, SCHD or SPYC?
SCHD yields 3.31% while SPYC yields 0.89%, so SCHD currently pays the higher dividend yield.
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