SCHD vs VCV
Schwab US Dividend Equity ETF vs Invesco California Value Municipal Income Trust
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 | VCV | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 3.57% | |
| AUM | $103.7B | $3,027.72 | |
| Dividend Yield | 3.31% | 7.48% | |
| Holdings | 104 | 346 | |
| YTD Return | +24.26% | -0.80% | |
| 1Y Return | +31.38% | +11.42% | |
| 3Y Return (annualized) | +15.08% | +10.41% | |
| 5Y Return (annualized) | +9.72% | -0.10% | |
| Volatility (annualized) | 13.6% | 14.3% | |
| Max Drawdown | -33.4% | -63.9% | |
| Fund Family | Charles Schwab Asset Management | Invesco (US) | |
| Category | Equity | Tax Preferred | |
| Inception | Oct 20, 2011 | Apr 30, 1993 |
SCHD vs VCV Performance
Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management and Invesco California Value Municipal Income Trust (VCV) is a ETF from Invesco (US). Over the past year SCHD returned +31.38% while VCV returned +11.42%. Year to date, SCHD is up 24.26% versus a loss of 0.80% for VCV.
Over three years, SCHD compounded at +15.08% per year against +10.41% for VCV; over five years the annualized figures are +9.72% and -0.10% respectively. Across the full 15-year window we track, SCHD has the edge at +11.39% annualized vs +0.50%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VCV has been the more volatile fund, with annualized monthly volatility of 14.3% compared with 13.6% 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 -63.9% for VCV. 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 0.34. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SCHD charges 0.06% per year while VCV charges 3.57%. On a $10,000 position that is $6 vs $357 annually, a gap of $351 per year that compounds over a long holding period. On income, SCHD currently yields 3.31% against 7.48% for VCV.
Holdings Overlap
SCHD and VCV share 0 holdings out of 188 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 VCV?
SCHD has an expense ratio of 0.06% while VCV charges 3.57%. SCHD is the cheaper option. On a $10,000 investment, that is $351 per year of difference.
Which performed better, SCHD or VCV?
Over the past year SCHD returned +31.38% vs +11.42% for VCV, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), SCHD annualized +11.39% vs +0.50% for VCV. Past performance does not guarantee future results.
Which is riskier, SCHD or VCV?
VCV has been the more volatile fund at 14.3% annualized versus 13.6% for SCHD. Worst drawdown: SCHD -33.4% vs VCV -63.9%.
Should I hold both SCHD and VCV?
SCHD and VCV have a monthly-return correlation of 0.34, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SCHD and VCV?
SCHD and VCV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 188 unique securities.
Which pays a higher dividend, SCHD or VCV?
SCHD yields 3.31% while VCV yields 7.48%, so VCV currently pays the higher dividend yield.
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