DVY vs. SCHD

Last updated Jun 24, 2026

DVY (iShares Select Dividend ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - DVY is a Large Cap Value Equities fund tracking the Dow Jones U.S. Select Dividend Index, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 10 years, DVY returned 10.39%/yr vs 12.72%/yr for SCHD. Their correlation of 0.90 suggests significant overlap in exposure. DVY charges 0.39%/yr vs 0.06%/yr for SCHD.

Performance

DVY vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Select Dividend ETF (DVY) and Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DVY achieves a 11.95% return, which is significantly lower than SCHD's 17.72% return. Over the past 10 years, DVY has underperformed SCHD with an annualized return of 10.39%, while SCHD has yielded a comparatively higher 12.72% annualized return.

DVY

• 1D: 0.93%
• 1M: 0.67%
• YTD: 11.95%
• 6M: 11.29%
• 1Y: 22.55%
• 3Y*: 16.40%
• 5Y*: 9.78%
• 10Y*: 10.39%

SCHD

• 1D: 0.41%
• 1M: -2.47%
• YTD: 17.72%
• 6M: 17.25%
• 1Y: 24.56%
• 3Y*: 14.60%
• 5Y*: 8.71%
• 10Y*: 12.72%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DVY vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DVY iShares Select Dividend ETF	11.95%	11.60%	16.24%	1.12%	1.80%	31.70%	-4.91%	22.62%	-6.36%	14.82%
SCHD Schwab U.S. Dividend Equity ETF	17.72%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between DVY and SCHD is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.90

The correlation between DVY and SCHD has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.

DVY vs. SCHD - Sectors Allocation Comparison

Sectors	DVY	SCHD
Financial Services	25.8%	9.1%
Utilities	23.8%	0.0%
Consumer Defensive	13.4%	18.5%
Consumer Cyclical	10.0%	6.7%
Energy	8.2%	14.6%
Communication Services	5.3%	6.0%
Healthcare	5.1%	18.4%
Technology	3.8%	19.4%
Industrials	2.1%	7.4%
Basic Materials	2.0%	1.2%
Real Estate	-	-

Return for Risk

DVY vs. SCHD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DVY

DVY Risk / Return Rank: 64
DVY Sharpe Ratio Rank: 64
DVY Sortino Ratio Rank: 67
DVY Omega Ratio Rank: 58
DVY Calmar Ratio Rank: 68
DVY Martin Ratio Rank: 66

SCHD

SCHD Risk / Return Rank: 77
SCHD Sharpe Ratio Rank: 72
SCHD Sortino Ratio Rank: 80
SCHD Omega Ratio Rank: 70
SCHD Calmar Ratio Rank: 90
SCHD Martin Ratio Rank: 71

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DVY vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Select Dividend ETF (DVY) and Schwab U.S. Dividend Equity ETF (SCHD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DVY	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	2.01	2.23	-0.21
Sortino ratio: Return per unit of downside risk	2.93	3.40	-0.47
Omega ratio: Gain probability vs. loss probability	1.34	1.40	-0.05
Calmar ratio: Return relative to maximum drawdown	3.29	5.35	-2.06
Martin ratio: Return relative to average drawdown	11.48	12.94	-1.45

DVY vs. SCHD - Sharpe Ratio Comparison

The current DVY Sharpe Ratio is 2.01, which is comparable to the SCHD Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of DVY and SCHD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DVY vs. SCHD - Drawdown Comparison

The maximum DVY drawdown since its inception was -62.59%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for DVY and SCHD.

Drawdown Indicators

	DVY	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-62.59%	-33.37%	-29.22%
Max Drawdown (1Y) Largest decline over 1 year	-6.89%	-4.61%	-2.28%
Max Drawdown (3Y) Largest decline over 3 years	-16.00%	-16.13%	+0.13%
Max Drawdown (5Y) Largest decline over 5 years	-17.54%	-16.85%	-0.69%
Max Drawdown (10Y) Largest decline over 10 years	-41.59%	-33.37%	-8.22%
Current Drawdown Current decline from peak	-1.28%	-2.47%	+1.19%
Average Drawdown Average peak-to-trough decline	-8.77%	-3.31%	-5.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	1.90%	+0.07%

Volatility

DVY vs. SCHD - Volatility Comparison

iShares Select Dividend ETF (DVY) and Schwab U.S. Dividend Equity ETF (SCHD) have volatilities of 3.47% and 3.58%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVY	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.47%	3.58%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	7.79%	7.73%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	11.28%	11.07%	+0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.15%	14.36%	+0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.02%	16.71%	+1.31%

DVY vs. SCHD - Expense Ratio Comparison

DVY has a 0.39% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

DVY vs. SCHD - Dividend Comparison

DVY's dividend yield for the trailing twelve months is around 3.38%, more than SCHD's 3.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVY iShares Select Dividend ETF	3.38%	3.65%	3.65%	3.82%	3.43%	3.12%	3.66%	3.41%	3.58%	3.00%	3.04%	3.45%
SCHD Schwab U.S. Dividend Equity ETF	3.30%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%

Frequently Asked Questions

Can I hold both DVY and SCHD in my portfolio?

DVY and SCHD have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DVY or SCHD?

SCHD has higher volatility (3.58%) compared to DVY (3.47%). In terms of maximum drawdown, DVY dropped -62.59% vs SCHD's -33.37%.

Which ETF is better, DVY or SCHD?

On 10-year performance, SCHD leads with 12.72% vs 10.39% for DVY. On fees, SCHD is cheaper at 0.06% per year. On volatility, DVY has been the lower-risk option at 3.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DVY or SCHD?

Over the 10-year period, SCHD has performed better with a 12.72% return vs 10.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DVY or SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.39% for DVY.

Which ETF pays a higher dividend yield, DVY or SCHD?

DVY has the higher dividend yield at 3.38%, compared with 3.30% for SCHD.

What is the main difference between DVY and SCHD?

DVY is categorized as Large Cap Value Equities, while SCHD is Dividend. DVY tracks Dow Jones U.S. Select Dividend Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.39% for DVY and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.23 vs 2.01), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.