SCHD vs VOE
Schwab US Dividend Equity ETF vs Vanguard Mid-Cap Value ETF
Quick Verdict
VOE has a lower expense ratio. SCHD delivered stronger 1-year returns. VOE offers more diversification with 169 holdings.
Side-by-Side Comparison
| Metric | SCHD | VOE | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 0.05% | |
| AUM | $103.7B | $22.9B | |
| Dividend Yield | 3.31% | 2.31% | |
| Holdings | 104 | 177 | |
| YTD Return | +24.26% | +16.86% | |
| 1Y Return | +31.38% | +26.22% | |
| 3Y Return (annualized) | +15.08% | +16.12% | |
| 5Y Return (annualized) | +9.72% | +10.19% | |
| Volatility (annualized) | 13.6% | 17.6% | |
| Max Drawdown | -33.4% | -63.4% | |
| Fund Family | Charles Schwab Asset Management | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Oct 20, 2011 | Aug 17, 2006 |
SCHD vs VOE Performance
Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management and Vanguard Mid-Cap Value ETF (VOE) is a ETF from Vanguard (US). Over the past year SCHD returned +31.38% while VOE returned +26.22%. Year to date, SCHD is up 24.26% versus a gain of 16.86% for VOE.
Over three years, SCHD compounded at +15.08% per year against +16.12% for VOE; over five years the annualized figures are +9.72% and +10.19% respectively. Across the full 15-year window we track, SCHD has the edge at +11.39% annualized vs +7.95%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOE has been the more volatile fund, with annualized monthly volatility of 17.6% 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 -63.4% for VOE. 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 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SCHD charges 0.06% per year while VOE charges 0.05%. On a $10,000 position that is $6 vs $5 annually, a gap of $1 per year that compounds over a long holding period. On income, SCHD currently yields 3.31% against 2.31% for VOE.
Holdings Overlap
SCHD and VOE share 16 holdings out of 253 unique holdings combined, representing a 10.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SCHD or VOE?
SCHD has an expense ratio of 0.06% while VOE charges 0.05%. VOE is the cheaper option. On a $10,000 investment, that is $1 per year of difference.
Which performed better, SCHD or VOE?
Over the past year SCHD returned +31.38% vs +26.22% for VOE, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), SCHD annualized +11.39% vs +7.95% for VOE. Past performance does not guarantee future results.
Which is riskier, SCHD or VOE?
VOE has been the more volatile fund at 17.6% annualized versus 13.6% for SCHD. Worst drawdown: SCHD -33.4% vs VOE -63.4%.
Should I hold both SCHD and VOE?
SCHD and VOE have a monthly-return correlation of 0.92, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SCHD and VOE?
SCHD and VOE share 16 common holdings with a 10.2% weight overlap. Combined, they hold 253 unique securities.
Which pays a higher dividend, SCHD or VOE?
SCHD yields 3.31% while VOE yields 2.31%, so SCHD currently pays the higher dividend yield.
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