SCHD vs VPV
Schwab US Dividend Equity ETF vs Invesco Pennsylvania 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 | VPV | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 1.71% | |
| AUM | $103.7B | $3,177.19 | |
| Dividend Yield | 3.31% | 7.35% | |
| Holdings | 104 | 141 | |
| YTD Return | +24.26% | +11.22% | |
| 1Y Return | +31.38% | +19.72% | |
| 3Y Return (annualized) | +15.08% | +12.01% | |
| 5Y Return (annualized) | +9.72% | +1.67% | |
| Volatility (annualized) | 13.6% | 13.2% | |
| Max Drawdown | -33.4% | -57.3% | |
| Fund Family | Charles Schwab Asset Management | Invesco (US) | |
| Category | Equity | Tax Preferred | |
| Inception | Oct 20, 2011 | Apr 30, 1993 |
SCHD vs VPV Performance
Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management and Invesco Pennsylvania Value Municipal Income Trust (VPV) is a ETF from Invesco (US). Over the past year SCHD returned +31.38% while VPV returned +19.72%. Year to date, SCHD is up 24.26% versus a gain of 11.22% for VPV.
Over three years, SCHD compounded at +15.08% per year against +12.01% for VPV; over five years the annualized figures are +9.72% and +1.67% respectively. Across the full 15-year window we track, SCHD has the edge at +11.39% annualized vs +0.67%. 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 13.2% for VPV. 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 -57.3% for VPV. 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 0.31. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SCHD charges 0.06% per year while VPV charges 1.71%. On a $10,000 position that is $6 vs $171 annually, a gap of $165 per year that compounds over a long holding period. On income, SCHD currently yields 3.31% against 7.35% for VPV.
Holdings Overlap
SCHD and VPV share 0 holdings out of 155 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 VPV?
SCHD has an expense ratio of 0.06% while VPV charges 1.71%. SCHD is the cheaper option. On a $10,000 investment, that is $165 per year of difference.
Which performed better, SCHD or VPV?
Over the past year SCHD returned +31.38% vs +19.72% for VPV, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), SCHD annualized +11.39% vs +0.67% for VPV. Past performance does not guarantee future results.
Which is riskier, SCHD or VPV?
SCHD has been the more volatile fund at 13.6% annualized versus 13.2% for VPV. Worst drawdown: SCHD -33.4% vs VPV -57.3%.
Should I hold both SCHD and VPV?
SCHD and VPV have a monthly-return correlation of 0.31, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SCHD and VPV?
SCHD and VPV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 155 unique securities.
Which pays a higher dividend, SCHD or VPV?
SCHD yields 3.31% while VPV yields 7.35%, so VPV currently pays the higher dividend yield.
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