SCHD vs TAIL
SCHD vs TAIL
Schwab US Dividend Equity ETF vs Cambria Tail Risk ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SCHD offers more diversification with 100 holdings.
Side-by-Side Comparison
| Metric | SCHD | TAIL | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 0.59% | |
| AUM | $103.7B | $149M | |
| Dividend Yield | 3.31% | 2.93% | |
| Holdings | 104 | 25 | |
| YTD Return | +24.26% | -9.67% | |
| 1Y Return | +31.38% | -11.58% | |
| 3Y Return (annualized) | +15.08% | -5.84% | |
| 5Y Return (annualized) | +9.72% | -9.19% | |
| Volatility (annualized) | 13.6% | 11.1% | |
| Max Drawdown | -33.4% | -53.5% | |
| Fund Family | Charles Schwab Asset Management | Cambria Investment Management | |
| Category | Equity | Alternative | |
| Inception | Oct 20, 2011 | Apr 5, 2017 |
SCHD vs TAIL Performance
Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management and Cambria Tail Risk ETF (TAIL) is a ETF from Cambria Investment Management. Over the past year SCHD returned +31.38% while TAIL returned -11.58%. Year to date, SCHD is up 24.26% versus a loss of 9.67% for TAIL.
Over three years, SCHD compounded at +15.08% per year against -5.84% for TAIL; over five years the annualized figures are +9.72% and -9.19% respectively. Across the full 9-year window we track, SCHD has the edge at +11.39% annualized vs -7.45%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 11.1% for TAIL. 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 -53.5% for TAIL. 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 -0.66. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SCHD charges 0.06% per year while TAIL charges 0.59%. On a $10,000 position that is $6 vs $59 annually, a gap of $53 per year that compounds over a long holding period. On income, SCHD currently yields 3.31% against 2.93% for TAIL.
Holdings Overlap
SCHD and TAIL share 0 holdings out of 102 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SCHD or TAIL?
SCHD has an expense ratio of 0.06% while TAIL charges 0.59%. SCHD is the cheaper option. On a $10,000 investment, that is $53 per year of difference.
Which performed better, SCHD or TAIL?
Over the past year SCHD returned +31.38% vs -11.58% for TAIL, so SCHD leads on 1-year performance. Over the longest common window we track (9 years), SCHD annualized +11.39% vs -7.45% for TAIL. Past performance does not guarantee future results.
Which is riskier, SCHD or TAIL?
SCHD has been the more volatile fund at 13.6% annualized versus 11.1% for TAIL. Worst drawdown: SCHD -33.4% vs TAIL -53.5%.
Should I hold both SCHD and TAIL?
SCHD and TAIL have a monthly-return correlation of -0.66, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SCHD and TAIL?
SCHD and TAIL share 0 common holdings with a 0.0% weight overlap. Combined, they hold 102 unique securities.
Which pays a higher dividend, SCHD or TAIL?
SCHD yields 3.31% while TAIL yields 2.93%, so SCHD currently pays the higher dividend yield.
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