SCHD vs SPYH
SCHD vs SPYH
Schwab US Dividend Equity ETF vs NEOS S&P 500 Hedged Equity Income ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SPYH offers more diversification with 475 holdings.
Side-by-Side Comparison
| Metric | SCHD | SPYH | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 0.68% | |
| AUM | $103.7B | $29M | |
| Dividend Yield | 3.31% | 8.32% | |
| Holdings | 104 | 489 | |
| YTD Return | +24.26% | +2.97% | |
| 1Y Return | +31.38% | +9.83% | |
| 3Y Return (annualized) | +15.08% | - | |
| 5Y Return (annualized) | +9.72% | - | |
| Volatility (annualized) | 13.6% | 7.8% | |
| Max Drawdown | -33.4% | -7.7% | |
| Fund Family | Charles Schwab Asset Management | NEOS | |
| Category | Equity | Equity | |
| Inception | Oct 20, 2011 | Apr 2, 2025 |
SCHD vs SPYH Performance
Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management and NEOS S&P 500 Hedged Equity Income ETF (SPYH) is a ETF from NEOS. Over the past year SCHD returned +31.38% while SPYH returned +9.83%. Year to date, SCHD is up 24.26% versus a gain of 2.97% for SPYH.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 7.8% for SPYH. 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 -7.7% for SPYH. 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 0.16. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SCHD charges 0.06% per year while SPYH charges 0.68%. On a $10,000 position that is $6 vs $68 annually, a gap of $62 per year that compounds over a long holding period. On income, SCHD currently yields 3.31% against 8.32% for SPYH.
Holdings Overlap
SCHD and SPYH share 45 holdings out of 530 unique holdings combined, representing a 8.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SCHD | Weight in SPYH | Difference |
|---|---|---|---|
| UNH | 4.54% | 0.61% | 3.93% |
| MRK | 4.32% | 0.52% | 3.80% |
| ABT | 4.49% | 0.29% | 4.20% |
| PG | Pro | Pro | Pro |
| HD | Pro | Pro | Pro |
| KO | Pro | Pro | Pro |
| AMGN | Pro | Pro | Pro |
| CVX | Pro | Pro | Pro |
| VZ | Pro | Pro | Pro |
| TXN | Pro | Pro | Pro |
See all 10 holdings SCHD shares with SPYH Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, SCHD or SPYH?
SCHD has an expense ratio of 0.06% while SPYH charges 0.68%. SCHD is the cheaper option. On a $10,000 investment, that is $62 per year of difference.
Which performed better, SCHD or SPYH?
Over the past year SCHD returned +31.38% vs +9.83% for SPYH, so SCHD leads on 1-year performance. Over the longest common window we track (1 years), SCHD annualized +11.39% vs +17.45% for SPYH. Past performance does not guarantee future results.
Which is riskier, SCHD or SPYH?
SCHD has been the more volatile fund at 13.6% annualized versus 7.8% for SPYH. Worst drawdown: SCHD -33.4% vs SPYH -7.7%.
Should I hold both SCHD and SPYH?
SCHD and SPYH have a monthly-return correlation of 0.16, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SCHD and SPYH?
SCHD and SPYH share 45 common holdings with a 8.6% weight overlap. Combined, they hold 530 unique securities.
Which pays a higher dividend, SCHD or SPYH?
SCHD yields 3.31% while SPYH yields 8.32%, so SPYH currently pays the higher dividend yield.
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