At a glance
SCHD charges 0.06% a year, below the 0.24% average of the 8 funds most like it (the 2nd cheapest of 9). It has $112.34B in assets, the largest of that group; it paid 2.95% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +38.9% with distributions reinvested (S&P 500: +11.5%), the best of those 9 funds; over three years it returned +19.9% a year. At its worst it fell 32.8% in the 2020 crash (S&P 500: 33.7%) and 16.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 5 months and 15 months after the lows. Its ten largest positions make up 41.7% of the fund, out of 99 in all.
The short version
Schwab US Dividend Equity ETF (SCHD) is an index fund from Schwab Asset Management that tracks the Dow Jones U.S. Dividend 100 Index: 100 U.S. companies with at least 10 straight years of dividends, screened for yield, dividend growth and financial strength. Its 0.06% annual fee is a quarter of the 0.24% average for similar dividend funds. It yielded 2.96% over the 12 months to October 30, 2026, paid quarterly.
Price history
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SCHD +38.9% over the year to Nov 2, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| SCHD official prospectus, to Dec 31, 2024 | — | +11.60% | — | +11.03% | +11.03% | — |
| SCHD price data to Nov 2, 2026 | +34.1% | +38.9% | +19.9% | +10.5% | +13.9% | +13.4% |
- Over the year to Nov 2, 2026, SCHD returned +38.9%, 1st of 9 among similar funds.
- Its 5-year annualized return was +10.5% and its 10-year +13.9%.
- In the 2020 COVID crash it fell 32.8% and regained its old high 5.2 months after the low.
- Its worst full calendar year was 2018 (-5.5%); its best was 2013 (+30.5%).
- The deepest fall in its price history was 33.4% (Jan 23, 2020 to Mar 23, 2020), recovered by Sep 2, 2020.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +34.1% | — |
| 2025 | +4.3% | — |
| 2024 | +11.6% | +11.60% |
| 2023 | +4.6% | +4.58% |
| 2022 | -3.2% | -3.23% |
| 2021 | +29.9% | +29.78% |
| 2020 | +15.1% | +15.11% |
| 2019 | +27.3% | +27.28% |
| 2018 | -5.5% | -5.46% |
| 2017 | +20.9% | +20.88% |
| 2016 | +16.4% | +16.25% |
| 2015 | -0.3% | -0.21% |
| 2014 | +11.7% | — |
| 2013 | +30.5% | — |
| 2012 | +9.3% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 32.8% over that stretch · deepest drop along the way 32.8%, back to its old high 5.2 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 14.7% over that stretch · deepest drop along the way 16.8%, back to its old high 14.9 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.7800 | |
| 2025 | $1.0500 | +6.4% |
| 2024 | $0.9867 | +11.7% |
| 2023 | $0.8833 | +3.5% |
| 2022 | $0.8533 | +13.8% |
| 2021 | $0.7500 | +11.4% |
| 2020 | $0.6733 | +16.8% |
| 2019 | $0.5767 | +19.3% |
| 2018 | $0.4833 | +7.4% |
| 2017 | $0.4500 | +7.1% |
| 2016 | $0.4200 | +9.6% |
| 2015 | $0.3833 | +9.5% |
| 2014 | $0.3500 | +248.6% |
| 2013 | $0.1004 | +11.6% |
| 2012 | $0.0900 |
Living on SCHD: its income record, cuts, and how much a $1,000 monthly income takes →
What's inside
As of Aug 31, 2026, the fund held 99 securities; the ten largest made up 41.71% of assets.
| Holding | Weight | |
|---|---|---|
| Merck & Co Inc | 4.76% | |
| Amgen Inc | 4.70% | |
| Abbott Laboratories | 4.68% | |
| Coca-Cola Co | 4.16% | |
| Chevron Corp | 4.01% | |
| Verizon Communications Inc | 3.96% | |
| ConocoPhillips | 3.93% | |
| Home Depot Inc | 3.87% | |
| Procter & Gamble Co | 3.82% | |
| UnitedHealth Group Inc | 3.82% | |
| PepsiCo Inc | 3.64% | |
| Bristol-Myers Squibb Co | 3.32% | |
| Texas Instruments Inc | 3.12% | |
| Accenture PLC | 2.84% | |
| Automatic Data Processing Inc | 2.78% |
By country
United States 94.69%Ireland 2.84%Curaçao 2.19%Puerto Rico 0.05%By asset type
Stocks 99.77%By sector
Sectors of the companies held, for the 81.7% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors added a net $9.99B (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -1.59%, +5.49%, +4.28%.
How it works
SCHD is an index fund that aims to match, before fees, the total return (price changes plus dividends) of the Dow Jones U.S. Dividend 100 Index. The index excludes real estate investment trusts, master limited partnerships, preferred stocks and convertibles. To qualify, a company needs at least 10 straight years of dividends, at least $500 million of publicly traded shares and enough trading volume. From the highest yielders, 100 stocks are chosen on four measures: cash flow to total debt, return on equity (a profitability gauge), dividend yield and five-year dividend growth.
Weights follow a modified market capitalization approach: bigger companies get bigger weights, but no stock may exceed 4% and no sector 25% at each rebalance. Between rebalances, weights drift; Merck was 4.8% of the fund as of August 31, 2026. The index is reviewed annually and rebalanced quarterly. Turnover, roughly the share of holdings replaced in a year, was 30%.
The fund keeps at least 90% of net assets in index stocks, generally at index weights, though it may deviate for tax or liquidity reasons. Up to 10% can sit outside the index, mainly stocks expected to join it, other funds and futures that keep spare cash invested. It may lend securities for a fee to narrow its gap with the index, and uses no leverage.
What it really costs
- SCHD charges 0.06% a year, versus an average of 0.24% for the similar funds below (2nd of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $6 in the first year and $77 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| SCHD | $6 | $19 | $34 | $77 |
In a retirement portfolio
SCHD tracks the Dow Jones U.S. Dividend 100 Index, which holds high-yielding US stocks with at least 10 straight years of dividend payments, so its main role is quarterly income from mature companies such as Merck, Amgen and Abbott Laboratories, its three largest holdings as of August 31, 2026.
SCHD's quarterly dividends over the 12 months to October 27, 2026, equaled 3.02% of the share price. Its expense ratio (yearly fee) is 0.06%, against a 0.24% average for similar dividend funds; on the SEC's standard $10,000 example, that comes to $77 over 10 years. The fund launched in 2011, after the 2008 crisis. Its deepest drop, 33.4%, came in the 2020 COVID crash; it recovered in about five months. In the 2022 bear market it fell 16.8% and took about 15 months to recover. Its worst calendar year, 2018, brought a 5.46% loss.
Anyone selling at the March 2020 low sold about a third below the peak. Dividends may reduce the need to sell in a bad year, but companies can cut them, and the fund can lag broader stock funds. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Income investors who want quarterly dividends from U.S. companies with 10-plus years of payments; the 12-month yield was 2.96% as of October 30, 2026.
- Cost-conscious investors: the 0.06% annual fee, against a 0.24% peer average, totals $77 over 10 years on $10,000 in the SEC's standard example.
- Investors wanting a tilt toward health care, consumer staples and energy through names like Merck, Amgen, Coca-Cola and Chevron (as of August 31, 2026).
Look elsewhere if
- Growth-focused investors: it held little technology, and its three-year return to October 30, 2026 ranked 7th of 8 similar dividend funds.
- Anyone unable to absorb big drops: it fell 33.4% from January to March 2020 and needed 14.9 months to climb back from its 2022 low.
- Investors wanting monthly income or real estate exposure: it pays quarterly, and its index excludes real estate investment trusts and master limited partnerships.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| SCHD this fund | — | 0.06% | $112.34B | +38.9% | +19.9% |
| HDV iShares Core High Dividend ETF | 49% | 0.08% | $14.90B | +38.0% | +21.7% |
| DURA VanEck Durable High Dividend ETF | 39% | 0.3% | $37.2M | +23.2% | +15.9% |
| FDL First Trust Morningstar Dividend Leaders In… | 35% | 0.45% | $7.29B | +26.1% | +23.9% |
| DHS WisdomTree US High Dividend Fund | 34% | 0.38% | $1.50B | +20.5% | +21.1% |
| KNGZ First Trust S&P 500 Diversified Dividend Ar… | 31% | 0.5% | $62.1M | +23.6% | +22.3% |
| DJD Invesco Dow Jones Industrial Average Divide… | 29% | 0.07% | $486.5M | +22.3% | +22.2% |
| SPDG SPDR Portfolio S&P Sector Neutral Dividend … | 29% | 0.05% | $12.5M | +19.7% | +22.9% |
Compared head to head: FDVV vs SCHD · SCHD vs VYM · DGRO vs SCHD · HDV vs SCHD · SCHD vs VIG · SCHD vs SPYD · all comparisons →
Questions investors ask
Is SCHD good for retirement income?
SCHD may suit retirees who want quarterly dividends from established U.S. companies, but it is an all-stock fund, not a substitute for bonds or cash. Its 12-month yield was 2.96% as of October 30, 2026, and every stock needs at least 10 straight years of dividends to join its index. Prices swing, though: the fund lost 33.4% from January 23 to March 23, 2020, and needed 14.9 months to climb back from its 2022 low.
What's the difference between SCHD and HDV?
Both are U.S. high-dividend stock ETFs, and about 49% of their holdings overlap; the clearest differences are cost, size and returns. SCHD charges 0.06% a year versus 0.08% for the iShares Core High Dividend ETF (HDV). SCHD had $112.3 billion in net assets as of August 31, 2026, against $14.9 billion for HDV as of July 31, 2026. Through October 30, 2026, SCHD led over one year (38.8% versus 37.8%) but trailed over three (20.9% versus 23% a year).
What stocks are in SCHD?
SCHD had 99 holdings as of August 31, 2026, and the top 10 made up 41.7% of assets. The largest were Merck (4.8%), Amgen (4.7%), Abbott Laboratories (4.7%), Coca-Cola (4.2%), Chevron (4.0%) and Verizon (4.0%). Health care, consumer staples and energy were the biggest sectors, while technology was a small slice. About 95% of assets were in U.S. companies; Ireland-based Accenture was among the exceptions.
Does SCHD pay monthly dividends?
No. SCHD pays dividends quarterly, not monthly. Over the 12 months to October 30, 2026, it paid $1.06 per share, a yield of 2.96%. That income comes from dividends paid by the roughly 100 companies it holds, so it is not fixed. The prospectus warns that if those companies reduce or stop dividends, the fund's income may fall.
What is SCHD's 10-year return?
SCHD returned an average of 11.03% a year over the 10 years to December 31, 2024, according to its prospectus. Measured by market price, its 10-year average was 13.7% a year through October 30, 2026. The path was uneven: it lost 5.46% in 2018 and 3.23% in 2022, and gained only 4.58% in 2023 and 4.34% in 2025, before rising 33.7% in 2026 through October 30. Past returns do not predict future results.