SCHD vs SPYH
Schwab US Dividend Equity ETF vs NEOS S&P 500 Hedged Equity Income ETF
Which is better, SCHD or SPYH?
Large Cap Value against Large Cap Blend.
SCHD has a lower expense ratio. SCHD led over 1Y and the full window. SPYH is less concentrated, with 38.1% 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 | SPYH |
|---|---|---|
| Expense Ratio | 0.06%Best | 0.68% |
| AUM | $112.1B | $43M |
| Dividend Yield | 3.00% | 8.27% |
| Holdings | 103 | 490 |
| YTD Return | +23.60%Best | +3.51% |
| 1Y Return | +28.29%Best | +6.04% |
| 3Y Return (annualized) | +16.25% | - |
| 5Y Return (annualized) | +10.25% | - |
| Volatility (annualized) | 12.2% | 7.5%Best |
| Max Drawdown | -9.0% | -7.7%Best |
| $10,000 over 1.5 years | $13,289Best | $12,540 |
| Top 10 Weight | 41.8% | 38.1%Best |
| Fund Family | Charles Schwab Asset Management | NEOS |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Oct 20, 2011 | Apr 2, 2025 |
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: Apr 3, 2025 to Sep 21, 2026 (1.5 years).
SCHD vs SPYH 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 1.5 years both funds cover.
SCHD vs SPYH Performance
Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management and NEOS S&P 500 Hedged Equity Income ETF (SPYH) is an ETF from NEOS. Over the past year SCHD returned +28.29% while SPYH returned +6.04%. Year to date, SCHD is up 23.60% versus a gain of 3.51% for SPYH.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 12.2% compared with 7.5% 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 -9.0% for SCHD and -7.7% for SPYH. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.16. They move largely independently of each other.
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 3.00% against 8.27% for SPYH.
Holdings Overlap
94.7% of SCHD's money is in holdings SPYH also owns. 8.5% of SPYH's money is in holdings SCHD also owns.
Most of SCHD is already inside SPYH. Owning both mostly buys the same companies twice.
45 positions in common, counted across the 100 positions we hold weights for in SCHD and 483 in SPYH, against full books of 103 and 490.
What only one of them owns
Our book lists 429 positions for SPYH that do not appear in our book for SCHD (90.0% of the fund), and 54 for SCHD that do not appear in SPYH (5.2%).
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 SPYH | Difference |
|---|---|---|---|
| MRKMerck & Company Inc | 4.77% | 0.58% | 4.19% |
| AMGNAmgen Inc. | 4.70% | 0.34% | 4.36% |
| ABTAbbott Laboratories | 4.69% | 0.30% | 4.39% |
| KOCoca Cola Co. | 4.17% | 0.54% | 3.63% |
| CVXChevron Corp | 4.02% | 0.60% | 3.42% |
| VZVerizon Communic | 3.97% | 0.62% | 3.35% |
| HDHome Depot Inc/The | 3.88% | 0.50% | 3.38% |
| UNHUnitedhealth Group Incorporated | 3.82% | 0.55% | 3.27% |
| PGProcter & Gamble Company | 3.83% | 0.53% | 3.30% |
| COPConocophillips Common Stock USD 0.01 | 3.94% | 0.24% | 3.70% |
94.7% of SCHD is already inside SPYH.
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 SPYH?
SCHD has an expense ratio of 0.06% while SPYH charges 0.68%. SCHD is the cheaper option, by $62 a year on a $10,000 investment.
Which performed better, SCHD or SPYH?
Over the past year SCHD returned +28.29% vs +6.04% for SPYH, so SCHD leads on 1-year performance. Over the longest common window we track (2 years), SCHD annualized +20.87% vs +16.29% for SPYH. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SCHD or SPYH?
SCHD has been the more volatile fund at 12.2% annualized versus 7.5% for SPYH. Worst drawdown: SCHD -9.0% vs SPYH -7.7%.
Should I hold both SCHD and SPYH?
SCHD and SPYH have a monthly-return correlation of 0.16, 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 SPYH?
94.7% of SCHD's money is in holdings SPYH also owns. 8.5% of SPYH's is in holdings SCHD also owns. They hold 45 positions in common, counted across the 100 positions we hold weights for in SCHD and 483 in SPYH.
Which pays a higher dividend, SCHD or SPYH?
SCHD yields 3.00% while SPYH yields 8.27%, so SPYH currently pays the higher dividend yield.
Is SPYH better than SCHD?
SCHD has a lower expense ratio. SCHD led over 1Y and the full window. SPYH is less concentrated, with 38.1% 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.