SCHD vs SSPY
Schwab US Dividend Equity ETF vs Stratified LargeCap Index ETF
Which is better, SCHD or SSPY?
Each has led over a different period.
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y and 5Y, SSPY over the full window. The two have moved almost in lockstep, correlation 0.93. SSPY is less concentrated, with 8.7% 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 | SSPY |
|---|---|---|
| Expense Ratio | 0.06%Best | 0.45% |
| AUM | $112.1B | $131M |
| Dividend Yield | 3.00% | 1.20% |
| Holdings | 103 | 507 |
| YTD Return | +25.07%Best | +13.15% |
| 1Y Return | +27.61%Best | +15.88% |
| 3Y Return (annualized) | +15.74%Best | +14.61% |
| 5Y Return (annualized) | +9.89%Best | +9.18% |
| Volatility (annualized) | 16.2%Best | 16.9% |
| Max Drawdown | -33.4%Best | -36.7% |
| $10,000 over 5 years | $16,025Best | $15,514 |
| Top 10 Weight | 41.8% | 8.7%Best |
| Fund Family | Charles Schwab Asset Management | Syntax Stratified |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Oct 20, 2011 | Jan 2, 2019 |
Volatility and max drawdown are measured over the window both funds cover: Jan 4, 2019 to Sep 11, 2026 (7.7 years).
SCHD vs SSPY 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 7.7 years both funds cover.
SCHD vs SSPY Performance
Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management and Stratified LargeCap Index ETF (SSPY) is an ETF from Syntax Stratified. Over the past year SCHD returned +27.61% while SSPY returned +15.88%. Year to date, SCHD is up 25.07% versus a gain of 13.15% for SSPY.
Over three years, SCHD compounded at +15.74% per year against +14.61% for SSPY; over five years the annualized figures are +9.89% and +9.18% respectively. Across the full 8-year window we track, SSPY has the edge at +13.59% annualized vs +13.37%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SSPY has been the more volatile fund, with annualized monthly volatility of 16.9% compared with 16.2% 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 -36.7% for SSPY. 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 SSPY charges 0.45%. On a $10,000 position that is $6 vs $45 annually, a gap of $39 per year that compounds over a long holding period. On income, SCHD currently yields 3.00% against 1.20% for SSPY.
Holdings Overlap
94.9% of SCHD's money is in holdings SSPY also owns. 11.3% of SSPY's money is in holdings SCHD also owns.
Most of SCHD is already inside SSPY. Owning both mostly buys the same companies twice.
46 positions in common, counted across the 100 positions we hold weights for in SCHD and 505 in SSPY, against full books of 103 and 507.
What only one of them owns
Our book lists 449 positions for SSPY that do not appear in our book for SCHD (86.5% of the fund), and 53 for SCHD that do not appear in SSPY (5.1%).
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 SSPY | Difference |
|---|---|---|---|
| MRKMerck & Co. Inc. | 4.77% | 0.29% | 4.48% |
| AMGNAmgen Inc. | 4.70% | 0.32% | 4.38% |
| ABTAbbott Laboratories | 4.69% | 0.08% | 4.61% |
| CVXChevron Corp. | 4.02% | 0.55% | 3.47% |
| KOCoca Cola Co. | 4.17% | 0.26% | 3.91% |
| PGProcter & Gamble Company | 3.83% | 0.41% | 3.42% |
| VZVerizon Communications, Inc. | 3.97% | 0.25% | 3.72% |
| UNHUnitedhealth Group Inc. | 3.82% | 0.39% | 3.43% |
| HDHome Depot Inc/The | 3.88% | 0.17% | 3.71% |
| COPConocophillips Co | 3.94% | 0.08% | 3.86% |
94.9% of SCHD is already inside SSPY.
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 SSPY?
SCHD has an expense ratio of 0.06% while SSPY charges 0.45%. SCHD is the cheaper option, by $39 a year on a $10,000 investment.
Which performed better, SCHD or SSPY?
Over the past year SCHD returned +27.61% vs +15.88% for SSPY, so SCHD leads on 1-year performance. Over the longest common window we track (8 years), SCHD annualized +13.37% vs +13.59% for SSPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SCHD or SSPY?
SSPY has been the more volatile fund at 16.9% annualized versus 16.2% for SCHD. Worst drawdown: SCHD -33.4% vs SSPY -36.7%.
Should I hold both SCHD and SSPY?
SCHD and SSPY 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 SSPY?
94.9% of SCHD's money is in holdings SSPY also owns. 11.3% of SSPY's is in holdings SCHD also owns. They hold 46 positions in common, counted across the 100 positions we hold weights for in SCHD and 505 in SSPY.
Which pays a higher dividend, SCHD or SSPY?
SCHD yields 3.00% while SSPY yields 1.20%, so SCHD currently pays the higher dividend yield.
Is SSPY better than SCHD?
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y and 5Y, SSPY over the full window. The two have moved almost in lockstep, correlation 0.93. SSPY is less concentrated, with 8.7% 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.