SCHD vs SPYD: Fees, Returns & Holdings Compared

	Expense ratio	Net assets	Yield (TTM)	Overlap	1 yr	5 yr*
SCHD	0.06%	$112.34B	2.95%	20%	+38.9%	+10.5%
SPYD	0.07%	$7.37B	4.26%		+14.7%	+8.4%

At a glance

20% of SCHD’s and SPYD’s holdings overlap by weight, with 21 securities in common out of 99 and 78. SCHD costs less: 0.06% a year against 0.07% for SPYD, or $60 against $70 on every $100,000. SCHD has $112.34B in assets and SPYD $7.37B; over the past 12 months SCHD paid out 2.95% of its price and SPYD 4.26%, both quarterly. Over the past year SCHD returned +38.9% and SPYD +14.7% with distributions reinvested; over five years, +10.5% and +8.4% a year. In the 2022 bear market SCHD fell 16.8% at its worst and SPYD 20.3%; SCHD was back at its earlier high 15 months after the low, SPYD 21 months.

Key differences

	SCHD	SPYD
Fund	Schwab US Dividend Equity ETF	SPDR Portfolio S&P 500 High Dividend ETF
Issuer	Schwab	SPDR (State Street)
Structure	Open-end ETF	Open-end ETF
Type	Dividend	High dividend
Launched	Oct 20, 2011	Oct 21, 2015
Expense ratio	0.06%	0.07%
Cost a year on $100,000	$60	$70
Net assets	$112.34B	$7.37B
Holdings	99	78
Ten largest positions	41.7%	14.9%
Yield (12 months)	2.95%	4.26%
Pays	quarterly	quarterly
Portfolio turnover	30% a year	29% a year
Price data from	Oct 20, 2011	Jun 2, 2020

Holdings and overlap

Overlap by weight20%the share of each fund in holdings both own

Securities in common21SCHD 99 · SPYD 78 in all

Ten largest positions41.7% / 14.9%of assets, SCHD / SPYD

Overlap adds up, for every security both funds own, the smaller of its two weights: 100% would mean identical portfolios.

Largest holdings

Holding	SCHD	SPYD
Merck & Co Inc	4.76%	—
Amgen Inc	4.70%	—
Abbott Laboratories	4.68%	—
Coca-Cola Co	4.16%	—
Chevron Corp	4.01%	1.19%
Verizon Communications Inc	3.96%	1.29%
ConocoPhillips	3.93%	—
Home Depot Inc	3.87%	—
Procter & Gamble Co	3.82%	—
UnitedHealth Group Inc	3.82%	—
Target Corp	1.78%	1.47%
Iron Mountain Inc	—	1.61%

The biggest differences in weight: Merck & Co Inc (4.8% in SCHD, 0.0% in SPYD); Amgen Inc (4.7% in SCHD, 0.0% in SPYD); Abbott Laboratories (4.7% in SCHD, 0.0% in SPYD).

By sector

Sector	SCHD	SPYD	Difference
Health care	21.3%	3.9%	SCHD +17.4
Consumer staples	17.7%	8.8%	SCHD +8.9
Energy	12.7%	6.8%	SCHD +5.9
Real estate	0.0%	10.0%	SPYD +10.0
Industrials	9.0%	1.2%	SCHD +7.8
Utilities	0.0%	7.7%	SPYD +7.7
Consumer discretionary	7.2%	1.2%	SCHD +6.0
Financials	5.2%	6.1%	SPYD +0.9
Technology	5.6%	1.3%	SCHD +4.3
Materials	0.9%	2.4%	SPYD +1.5
Communication services	2.3%	2.1%	SCHD +0.2

Sectors of the companies each fund holds that have a stock page here (81.7% of SCHD, 51.5% of SPYD). Source: N-PORT holdings reports as of Aug 31, 2026 (SCHD) and Jun 30, 2026 (SPYD).

Returns

SCHD SPYD · $10,000 in each on Jun 30, 2020, distributions reinvested.

$10,000 put into SCHD on Jun 30, 2020 was worth $25,852 on Oct 27, 2026, and in SPYD $23,125 (+16.2% and +14.2% a year). That is as far back as the price data for both goes.

	1 yr	3 yr	5 yr	10 yr
SCHD price data to Nov 2, 2026	+38.9%	+19.9%	+10.5%	+13.9%
SCHD official prospectus, to Dec 31, 2024	+11.60%	—	+11.03%	+11.03%
SPYD price data to Oct 27, 2026	+14.7%	+18.8%	+8.4%	—
SPYD official prospectus, to Dec 31, 2025	+4.67%	—	+10.48%	+8.98%

Multi-year figures are annualized total returns with distributions reinvested. "Official" rows are the SEC-standard returns from each fund's prospectus, to the end of the last calendar year; they reach back further where the price data starts late. SPYD: Price data starts 2020-06-02, after the fund's launch on 2015-10-21; figures "since start" cover the available history only.

Calendar years

Year	SCHD	SPYD	Difference
2026	+34.1% *	+15.4% *	SCHD +18.7
2025	+4.3%	+4.6%	SPYD +0.3
2024	+11.6%	+15.3%	SPYD +3.7
2023	+4.6%	+4.0%	SCHD +0.6
2022	-3.2%	-1.1%	SPYD +2.1
2021	+29.9%	+32.8%	SPYD +3.0
2020	+15.1%	-11.52% †
2019	+27.3%	+21.35% †
2018	-5.5%	-4.77% †
2017	+20.9%	+12.59% †

Total returns from price data; † from the fund’s prospectus where the price data starts later; * year to Oct 27, 2026.

Downturns and recovery

	SCHD	SPYD
2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009	Before it launched	Before it launched
2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020	−32.8% at the worst; back at its high 5 months after the low	Not in the price data (starts Jun 2, 2020)
2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022	−16.8% at the worst; back at its high 15 months after the low	−20.3% at the worst; back at its high 21 months after the low
Worst fall in the price data	−33.4% (Jan 23, 2020 – Mar 23, 2020)	−22.2% (Apr 20, 2022 – Oct 27, 2023)

The deepest drop from a high to a low during each stretch when stocks fell, and how long the fund took to get back to its earlier high, with distributions reinvested. The price data starts Oct 20, 2011 for SCHD and Jun 2, 2020 for SPYD.

Income

SCHD yield (12 months)2.95%paid quarterly

SPYD yield (12 months)4.26%paid quarterly

Year	SCHD	SPYD
2025	$384	$453
2024	$389	$477
2023	$351	$462
2022	$317	$471
2021	$351	$474

Distributions paid during each calendar year on $10,000 of shares bought at the previous year-end close, adjusted for share splits. Before taxes.

Costs

SCHD charges 0.06% a year and SPYD 0.07%: on $100,000 that is $10 a year less with SCHD ($50 on $500,000). The fee comes out of each fund's assets, so it is already in the returns above.

Cost of $10,000 (SEC example)	1 yr	3 yrs	5 yrs	10 yrs
SCHD	$6	$19	$34	$77
SPYD	$7	$23	$40	$90

From each fund's prospectus: the total costs on $10,000 invested, at a 5% yearly return, with the shares sold at the end of each period.

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