SCHD vs TBF
SCHD vs TBF
Schwab US Dividend Equity ETF vs ProShares Short 20+ Year Treasury
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 | TBF | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 0.95% | |
| AUM | $103.7B | $86M | |
| Dividend Yield | 3.31% | 2.80% | |
| Holdings | 104 | 10 | |
| YTD Return | +24.26% | +5.57% | |
| 1Y Return | +31.38% | +6.88% | |
| 3Y Return (annualized) | +15.08% | +6.57% | |
| 5Y Return (annualized) | +9.72% | +11.85% | |
| Volatility (annualized) | 13.6% | 13.5% | |
| Max Drawdown | -33.4% | -71.2% | |
| Fund Family | Charles Schwab Asset Management | ProShares | |
| Category | Equity | Alternative | |
| Inception | Oct 20, 2011 | Aug 18, 2009 |
SCHD vs TBF Performance
Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management and ProShares Short 20+ Year Treasury (TBF) is a ETF from ProShares. Over the past year SCHD returned +31.38% while TBF returned +6.88%. Year to date, SCHD is up 24.26% versus a gain of 5.57% for TBF.
Over three years, SCHD compounded at +15.08% per year against +6.57% for TBF; over five years the annualized figures are +9.72% and +11.85% respectively. Across the full 15-year window we track, SCHD has the edge at +11.39% annualized vs -3.12%. 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 13.5% for TBF. 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 -71.2% for TBF. 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 0.00. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SCHD charges 0.06% per year while TBF charges 0.95%. On a $10,000 position that is $6 vs $95 annually, a gap of $89 per year that compounds over a long holding period. On income, SCHD currently yields 3.31% against 2.80% for TBF.
Holdings Overlap
SCHD and TBF share 0 holdings out of 101 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 TBF?
SCHD has an expense ratio of 0.06% while TBF charges 0.95%. SCHD is the cheaper option. On a $10,000 investment, that is $89 per year of difference.
Which performed better, SCHD or TBF?
Over the past year SCHD returned +31.38% vs +6.88% for TBF, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), SCHD annualized +11.39% vs -3.12% for TBF. Past performance does not guarantee future results.
Which is riskier, SCHD or TBF?
SCHD has been the more volatile fund at 13.6% annualized versus 13.5% for TBF. Worst drawdown: SCHD -33.4% vs TBF -71.2%.
Should I hold both SCHD and TBF?
SCHD and TBF have a monthly-return correlation of 0.00, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SCHD and TBF?
SCHD and TBF share 0 common holdings with a 0.0% weight overlap. Combined, they hold 101 unique securities.
Which pays a higher dividend, SCHD or TBF?
SCHD yields 3.31% while TBF yields 2.80%, so SCHD currently pays the higher dividend yield.
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