SCHD vs TCAL
Schwab US Dividend Equity ETF vs T. Rowe Price Capital Appreciation Premium Income ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. TCAL offers more diversification with 488 holdings.
Side-by-Side Comparison
| Metric | SCHD | TCAL | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 0.34% | |
| AUM | $112.2B | $313M | |
| Dividend Yield | 3.13% | 11.52% | |
| Holdings | 103 | 488 | |
| YTD Return | +27.60% | +2.58% | |
| 1Y Return | +29.63% | +2.99% | |
| 3Y Return (annualized) | +16.43% | - | |
| 5Y Return (annualized) | +10.05% | - | |
| Volatility (annualized) | 13.6% | 6.6% | |
| Max Drawdown | -33.4% | -7.2% | |
| Fund Family | Charles Schwab Asset Management | T.Rowe Price | |
| Category | Equity | Equity | |
| Inception | Oct 20, 2011 | Mar 26, 2025 |
SCHD vs TCAL Performance
Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management and T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) is a ETF from T.Rowe Price. Over the past year SCHD returned +29.63% while TCAL returned +2.99%. Year to date, SCHD is up 27.60% versus a gain of 2.58% for TCAL.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 6.6% 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 -33.4% for SCHD and -7.2% for TCAL. 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 0.60. They move independently enough that combining them can meaningfully diversify a portfolio.
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 3.13% against 11.52% for TCAL.
Holdings Overlap
SCHD and TCAL share 9 holdings out of 195 unique holdings combined, representing a 8.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $28 per year of difference.
Which performed better, SCHD or TCAL?
Over the past year SCHD returned +29.63% vs +2.99% for TCAL, so SCHD leads on 1-year performance. Over the longest common window we track (1 years), SCHD annualized +11.54% vs +3.13% for TCAL. Past performance does not guarantee future results.
Which is riskier, SCHD or TCAL?
SCHD has been the more volatile fund at 13.6% annualized versus 6.6% for TCAL. Worst drawdown: SCHD -33.4% vs TCAL -7.2%.
Should I hold both SCHD and TCAL?
SCHD and TCAL have a monthly-return correlation of 0.60, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SCHD and TCAL?
SCHD and TCAL share 9 common holdings with a 8.4% weight overlap. Combined, they hold 195 unique securities.
Which pays a higher dividend, SCHD or TCAL?
SCHD yields 3.13% while TCAL yields 11.52%, so TCAL currently pays the higher dividend yield.
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