SCHD vs TPZ
Schwab US Dividend Equity ETF vs Tortoise Essential Energy Fund
Which is better, SCHD or TPZ?
Large Cap Value against Mid Cap Value.
SCHD has a lower expense ratio. SCHD led over 1Y and the full window. SCHD is less concentrated, with 41.5% of the fund in its ten largest positions against 55.4%.
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 | TPZ |
|---|---|---|
| Expense Ratio | 0.06%Best | 0.85% |
| AUM | $112.2B | $120M |
| Dividend Yield | 3.13% | 3.15% |
| Holdings | 103 | 35 |
| Volatility (annualized) | 13.7%Best | 25.7% |
| Max Drawdown | -33.4%Best | -78.1% |
| $10,000 over 13.3 years | $38,791Best | $25,117 |
| Top 10 Weight | 41.5%Best | 55.4% |
| Fund Family | Charles Schwab Asset Management | Tortoise Capital |
| Category | Equity | Equity |
| Style | Large Cap Value | Mid Cap Value |
| Inception | Oct 20, 2011 | Jul 29, 2009 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 588 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. SCHD has data through Sep 8, 2026 and TPZ through Jan 28, 2025.
Volatility and max drawdown, and the $10,000 over 13.3 years row, are measured over the window both funds cover: Oct 20, 2011 to Jan 28, 2025 (13.3 years).
Risk: Volatility and Drawdowns
TPZ has been the more volatile fund, with annualized monthly volatility of 25.7% compared with 13.7% for SCHD. 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 -78.1% for TPZ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.68. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SCHD charges 0.06% per year while TPZ charges 0.85%. On a $10,000 position that is $6 vs $85 annually, a gap of $79 per year that compounds over a long holding period. On income, SCHD currently yields 3.13% against 3.15% for TPZ.
Holdings Overlap
1.4% of SCHD's money is in holdings TPZ also owns. 4.0% of TPZ's money is in holdings SCHD also owns.
TPZ and SCHD share little of their money.
1 positions in common, counted across the 100 positions we hold weights for in SCHD and 32 in TPZ, against full books of 103 and 35.
What only one of them owns
Our book lists 27 positions for TPZ that do not appear in our book for SCHD (87.2% of the fund), and 97 for SCHD that do not appear in TPZ (98.3%).
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 TPZ | Difference |
|---|---|---|---|
| OKEOneok Inc. | 1.36% | 4.05% | 2.69% |
You are not choosing between two funds in isolation.
Whichever of SCHD and TPZ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SCHD or TPZ?
SCHD has an expense ratio of 0.06% while TPZ charges 0.85%. SCHD is the cheaper option, by $79 a year on a $10,000 investment.
Which is riskier, SCHD or TPZ?
TPZ has been the more volatile fund at 25.7% annualized versus 13.7% for SCHD. Worst drawdown: SCHD -33.4% vs TPZ -78.1%.
Should I hold both SCHD and TPZ?
SCHD and TPZ have a monthly-return correlation of 0.68, 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 TPZ?
4.0% of TPZ's money is in holdings SCHD also owns. 4.0% of TPZ's is in holdings SCHD also owns. They hold 1 positions in common, counted across the 100 positions we hold weights for in SCHD and 32 in TPZ.
Which pays a higher dividend, SCHD or TPZ?
SCHD yields 3.13% while TPZ yields 3.15%, so TPZ currently pays the higher dividend yield.
Is TPZ better than SCHD?
SCHD has a lower expense ratio. SCHD led over 1Y and the full window. SCHD is less concentrated, with 41.5% of the fund in its ten largest positions against 55.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.