SCHD vs TFI
Schwab US Dividend Equity ETF vs State Street SPDR Nuveen ICE Municipal Bond 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 | TFI | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 0.23% | |
| AUM | $103.7B | $3.1B | |
| Dividend Yield | 3.31% | 3.46% | |
| Holdings | 104 | 1,809 | |
| YTD Return | +24.26% | +0.24% | |
| 1Y Return | +31.38% | +4.41% | |
| 3Y Return (annualized) | +15.08% | +2.54% | |
| 5Y Return (annualized) | +9.72% | -0.38% | |
| Volatility (annualized) | 13.6% | 5.8% | |
| Max Drawdown | -33.4% | -17.1% | |
| Fund Family | Charles Schwab Asset Management | State Street Investment Management | |
| Category | Equity | Tax Preferred | |
| Inception | Oct 20, 2011 | Sep 11, 2007 |
SCHD vs TFI Performance
Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management and State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) is a ETF from State Street Investment Management. Over the past year SCHD returned +31.38% while TFI returned +4.41%. Year to date, SCHD is up 24.26% versus a gain of 0.24% for TFI.
Over three years, SCHD compounded at +15.08% per year against +2.54% for TFI; over five years the annualized figures are +9.72% and -0.38% respectively. Across the full 15-year window we track, SCHD has the edge at +11.39% annualized vs +0.81%. 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 5.8% for TFI. 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 -17.1% for TFI. 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 0.29. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SCHD charges 0.06% per year while TFI charges 0.23%. On a $10,000 position that is $6 vs $23 annually, a gap of $17 per year that compounds over a long holding period. On income, SCHD currently yields 3.31% against 3.46% for TFI.
Holdings Overlap
SCHD and TFI share 0 holdings out of 107 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 TFI?
SCHD has an expense ratio of 0.06% while TFI charges 0.23%. SCHD is the cheaper option. On a $10,000 investment, that is $17 per year of difference.
Which performed better, SCHD or TFI?
Over the past year SCHD returned +31.38% vs +4.41% for TFI, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), SCHD annualized +11.39% vs +0.81% for TFI. Past performance does not guarantee future results.
Which is riskier, SCHD or TFI?
SCHD has been the more volatile fund at 13.6% annualized versus 5.8% for TFI. Worst drawdown: SCHD -33.4% vs TFI -17.1%.
Should I hold both SCHD and TFI?
SCHD and TFI have a monthly-return correlation of 0.29, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SCHD and TFI?
SCHD and TFI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 107 unique securities.
Which pays a higher dividend, SCHD or TFI?
SCHD yields 3.31% while TFI yields 3.46%, so TFI currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.