SCHD vs SPYD
Schwab US Dividend Equity ETF vs State Street SPDR Portfolio S&P 500 High Dividend ETF
Which is better, SCHD or SPYD?
SCHD has been ahead.
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.90. SPYD is less concentrated, with 15.0% 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 | SPYD |
|---|---|---|
| Expense Ratio | 0.06%Best | 0.07% |
| AUM | $108.9B | $7.1B |
| Dividend Yield | 3.00% | 4.09% |
| Holdings | 206 | 165 |
| YTD Return | +22.08%Best | +8.45% |
| 1Y Return | +26.66%Best | +10.41% |
| 3Y Return (annualized) | +16.06%Best | +14.57% |
| 5Y Return (annualized) | +9.39%Best | +7.43% |
| Volatility (annualized) | 14.8%Best | 17.9% |
| Max Drawdown | -33.4%Best | -47.3% |
| $10,000 over 5 years | $15,663Best | $14,310 |
| Top 10 Weight | 41.8% | 15.0%Best |
| Fund Family | Charles Schwab Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Oct 20, 2011 | Oct 21, 2015 |
Volatility and max drawdown are measured over the window both funds cover: Oct 22, 2015 to Oct 9, 2026 (11 years).
SCHD vs SPYD 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 11 years both funds cover.
SCHD vs SPYD Performance
Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management and State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) is an ETF from State Street Investment Management. Over the past year SCHD returned +26.66% while SPYD returned +10.41%. Year to date, SCHD is up 22.08% versus a gain of 8.45% for SPYD.
Over three years, SCHD compounded at +16.06% per year against +14.57% for SPYD; over five years the annualized figures are +9.39% and +7.43% respectively. Across the full 11-year window we track, SCHD has the edge at +10.91% annualized vs +6.28%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPYD has been the more volatile fund, with annualized monthly volatility of 17.9% compared with 14.8% 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 -47.3% for SPYD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SCHD charges 0.06% per year while SPYD charges 0.07%. On a $10,000 position that is $6 vs $7 annually, a gap of $1 per year that compounds over a long holding period. On income, SCHD currently yields 3.00% against 4.09% for SPYD.
Holdings Overlap
38.7% of SCHD's money is in holdings SPYD also owns. 26.6% of SPYD's money is in holdings SCHD also owns.
The two portfolios partly overlap.
20 positions in common, counted across the 99 positions we hold weights for in SCHD and 80 in SPYD, against full books of 206 and 165.
What only one of them owns
Our book lists 59 positions for SPYD that do not appear in our book for SCHD (71.8% of the fund), and 78 for SCHD that do not appear in SPYD (61.2%).
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 SPYD | Difference |
|---|---|---|---|
| CVXChevron Corp | 4.29% | 1.43% | 2.86% |
| VZVerizon Communications Inc Vz | 4.12% | 1.47% | 2.65% |
| PEPPepsico Inc. | 3.63% | 1.29% | 2.34% |
| BMYBristol-Myers Squibb Co. | 3.25% | 1.35% | 1.90% |
| ACNAccenture Plc | 2.83% | 1.69% | 1.14% |
| MOAltria Group Inc. | 2.88% | 1.23% | 1.65% |
| BXBlackstone Group Inc. Class A | 2.39% | 1.35% | 1.04% |
| CMCSAComcast Corp-class A Cmcsa | 2.25% | 1.38% | 0.87% |
| EOGEog Resources Inc | 1.96% | 1.32% | 0.64% |
| TGTTARGET CORP | 1.77% | 1.45% | 0.32% |
38.7% of SCHD is already inside SPYD.
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 SPYD?
SCHD has an expense ratio of 0.06% while SPYD charges 0.07%. SCHD is the cheaper option, by $1 a year on a $10,000 investment.
Which performed better, SCHD or SPYD?
Over the past year SCHD returned +26.66% vs +10.41% for SPYD, so SCHD leads on 1-year performance. Over the longest common window we track (11 years), SCHD annualized +10.91% vs +6.28% for SPYD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SCHD or SPYD?
SPYD has been the more volatile fund at 17.9% annualized versus 14.8% for SCHD. Worst drawdown: SCHD -33.4% vs SPYD -47.3%.
Should I hold both SCHD and SPYD?
SCHD and SPYD have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SCHD and SPYD?
38.7% of SCHD's money is in holdings SPYD also owns. 26.6% of SPYD's is in holdings SCHD also owns. They hold 20 positions in common, counted across the 99 positions we hold weights for in SCHD and 80 in SPYD.
Which pays a higher dividend, SCHD or SPYD?
SCHD yields 3.00% while SPYD yields 4.09%, so SPYD currently pays the higher dividend yield.
Is SPYD better than SCHD?
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.90. SPYD is less concentrated, with 15.0% 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.