SCHD vs SPYV
Schwab US Dividend Equity ETF vs State Street SPDR Portfolio S&P 500 Value ETF
Which is better, SCHD or SPYV?
Each has led over a different period.
SPYV has a lower expense ratio. SCHD led over 1Y and the full window, SPYV over 3Y and 5Y. The two have moved almost in lockstep, correlation 0.93. SPYV is less concentrated, with 23.7% 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 | SPYV |
|---|---|---|
| Expense Ratio | 0.06% | 0.04%Best |
| AUM | $112.1B | $36.6B |
| Dividend Yield | 3.00% | 1.65% |
| Holdings | 103 | 440 |
| YTD Return | +21.33%Best | +9.62% |
| 1Y Return | +25.15%Best | +14.48% |
| 3Y Return (annualized) | +15.43% | +15.82%Best |
| 5Y Return (annualized) | +9.32% | +11.22%Best |
| Volatility (annualized) | 13.7%Best | 14.1% |
| Max Drawdown | -33.4%Best | -37.5% |
| $10,000 over 5 years | $15,613 | $17,018Best |
| Top 10 Weight | 41.8% | 23.7%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 | Sep 25, 2000 |
Volatility and max drawdown are measured over the window both funds cover: Oct 20, 2011 to Sep 24, 2026 (14.9 years).
SCHD vs SPYV 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 14.9 years both funds cover.
SCHD vs SPYV Performance
Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management and State Street SPDR Portfolio S&P 500 Value ETF (SPYV) is an ETF from State Street Investment Management. Over the past year SCHD returned +25.15% while SPYV returned +14.48%. Year to date, SCHD is up 21.33% versus a gain of 9.62% for SPYV.
Over three years, SCHD compounded at +15.43% per year against +15.82% for SPYV; over five years the annualized figures are +9.32% and +11.22% respectively. Across the full 15-year window we track, SCHD has the edge at +11.11% annualized vs +10.68%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPYV has been the more volatile fund, with annualized monthly volatility of 14.1% 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 -37.5% for SPYV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.93. 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 SPYV charges 0.04%. On a $10,000 position that is $6 vs $4 annually, a gap of $2 per year that compounds over a long holding period. On income, SCHD currently yields 3.00% against 1.65% for SPYV.
Holdings Overlap
92.0% of SCHD's money is in holdings SPYV also owns. 16.2% of SPYV's money is in holdings SCHD also owns.
Most of SCHD is already inside SPYV. Owning both mostly buys the same companies twice.
45 positions in common, counted across the 100 positions we hold weights for in SCHD and 439 in SPYV, against full books of 103 and 440.
What only one of them owns
Our book lists 387 positions for SPYV that do not appear in our book for SCHD (82.5% of the fund), and 54 for SCHD that do not appear in SPYV (7.9%).
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 SPYV | Difference |
|---|---|---|---|
| MRKMerck & Company Inc | 4.77% | 1.23% | 3.54% |
| CVXChevron Corp | 4.02% | 1.31% | 2.71% |
| ABTAbbott Laboratories | 4.69% | 0.63% | 4.06% |
| UNHUnitedhealth Group Incorporated | 3.82% | 1.20% | 2.62% |
| PGProcter & Gamble Company | 3.83% | 1.13% | 2.70% |
| AMGNAmgen Inc. | 4.70% | 0.25% | 4.45% |
| HDHome Depot Inc/The | 3.88% | 1.06% | 2.82% |
| KOCoca Cola Co. | 4.17% | 0.66% | 3.51% |
| VZVerizon Communic | 3.97% | 0.70% | 3.27% |
| COPConocophillips Common Stock USD 0.01 | 3.94% | 0.55% | 3.39% |
92.0% of SCHD is already inside SPYV.
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 SPYV?
SCHD has an expense ratio of 0.06% while SPYV charges 0.04%. SPYV is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, SCHD or SPYV?
Over the past year SCHD returned +25.15% vs +14.48% for SPYV, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), SCHD annualized +11.11% vs +10.68% for SPYV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SCHD or SPYV?
SPYV has been the more volatile fund at 14.1% annualized versus 13.7% for SCHD. Worst drawdown: SCHD -33.4% vs SPYV -37.5%.
Should I hold both SCHD and SPYV?
SCHD and SPYV have a monthly-return correlation of 0.93, 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 SPYV?
92.0% of SCHD's money is in holdings SPYV also owns. 16.2% of SPYV'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 439 in SPYV.
Which pays a higher dividend, SCHD or SPYV?
SCHD yields 3.00% while SPYV yields 1.65%, so SCHD currently pays the higher dividend yield.
Is SPYV better than SCHD?
SPYV has a lower expense ratio. SCHD led over 1Y and the full window, SPYV over 3Y and 5Y. The two have moved almost in lockstep, correlation 0.93. SPYV is less concentrated, with 23.7% 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.