SCHD vs TCAL
Schwab US Dividend Equity ETF vs T. Rowe Price Capital Appreciation Premium Income ETF
Which is better, SCHD or TCAL?
Large Cap Value against Large Cap Blend.
SCHD has a lower expense ratio. SCHD led over 1Y and the full window. TCAL is less concentrated, with 17.2% 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 | TCAL |
|---|---|---|
| Expense Ratio | 0.06%Best | 0.34% |
| AUM | $112.1B | $307M |
| Dividend Yield | 3.00% | 11.33% |
| Holdings | 103 | 488 |
| YTD Return | +23.68%Best | +0.47% |
| 1Y Return | +28.36%Best | +1.57% |
| 3Y Return (annualized) | +16.20% | - |
| 5Y Return (annualized) | +10.07% | - |
| Volatility (annualized) | 14.2% | 7.1%Best |
| Max Drawdown | -13.0% | -7.2%Best |
| $10,000 over 1.5 years | $12,751Best | $10,238 |
| Top 10 Weight | 41.8% | 17.2%Best |
| Fund Family | Charles Schwab Asset Management | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Oct 20, 2011 | Mar 26, 2025 |
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: Mar 27, 2025 to Sep 22, 2026 (1.5 years).
SCHD vs TCAL 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 TCAL Performance
Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management and T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) is an ETF from T.Rowe Price. Over the past year SCHD returned +28.36% while TCAL returned +1.57%. Year to date, SCHD is up 23.68% versus a gain of 0.47% for TCAL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 14.2% compared with 7.1% for TCAL. 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 -13.0% for SCHD and -7.2% for TCAL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.64. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SCHD charges 0.06% per year while TCAL charges 0.34%. On a $10,000 position that is $6 vs $34 annually, a gap of $28 per year that compounds over a long holding period. On income, SCHD currently yields 3.00% against 11.33% for TCAL.
Holdings Overlap
33.9% of SCHD's money is in holdings TCAL also owns. 8.2% of TCAL's money is in holdings SCHD also owns.
The two portfolios partly overlap.
9 positions in common, counted across the 100 positions we hold weights for in SCHD and 103 in TCAL, against full books of 103 and 488.
What only one of them owns
Our book lists 87 positions for TCAL that do not appear in our book for SCHD (85.2% of the fund), and 90 for SCHD that do not appear in TCAL (66.0%).
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 TCAL | Difference |
|---|---|---|---|
| ABTAbbott Laboratories | 4.69% | 1.74% | 2.95% |
| MRKMerck & Company Inc | 4.77% | 0.43% | 4.34% |
| KOCoca Cola Co. | 4.17% | 0.95% | 3.22% |
| PGProcter & Gamble Company | 3.83% | 0.79% | 3.04% |
| PEPPepsico Inc. | 3.64% | 0.96% | 2.68% |
| HDHome Depot Inc/The | 3.88% | 0.63% | 3.25% |
| LMTLockheed Martin Corp | 2.78% | 1.49% | 1.29% |
| BMYBristol-Myers Squibb Co. | 3.33% | 0.55% | 2.78% |
| ADPAutomatic Data Processing, Inc. | 2.79% | 0.67% | 2.12% |
33.9% of SCHD is already inside TCAL.
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 TCAL?
SCHD has an expense ratio of 0.06% while TCAL charges 0.34%. SCHD is the cheaper option, by $28 a year on a $10,000 investment.
Which performed better, SCHD or TCAL?
Over the past year SCHD returned +28.36% vs +1.57% for TCAL, so SCHD leads on 1-year performance. Over the longest common window we track (2 years), SCHD annualized +17.59% vs +1.58% for TCAL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SCHD or TCAL?
SCHD has been the more volatile fund at 14.2% annualized versus 7.1% for TCAL. Worst drawdown: SCHD -13.0% vs TCAL -7.2%.
Should I hold both SCHD and TCAL?
SCHD and TCAL have a monthly-return correlation of 0.64, 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 TCAL?
33.9% of SCHD's money is in holdings TCAL also owns. 8.2% of TCAL's is in holdings SCHD also owns. They hold 9 positions in common, counted across the 100 positions we hold weights for in SCHD and 103 in TCAL.
Which pays a higher dividend, SCHD or TCAL?
SCHD yields 3.00% while TCAL yields 11.33%, so TCAL currently pays the higher dividend yield.
Is TCAL better than SCHD?
SCHD has a lower expense ratio. SCHD led over 1Y and the full window. TCAL is less concentrated, with 17.2% 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.