HDEF vs. SCHY

Last updated Aug 2, 2026

HDEF (Xtrackers MSCI EAFE High Dividend Yield Equity ETF) and SCHY (Schwab International Dividend Equity ETF) are both exchange-traded funds - HDEF is a Foreign Large Cap Equities fund tracking the MSCI EAFE High Dividend Yield US Dollar Hedged Index, while SCHY is a Dividend fund tracking the Dow Jones International Dividend 100 Index (Net). Both are passively managed. Over the past 5 years, HDEF returned 11.81%/yr vs 9.14%/yr for SCHY. Their correlation of 0.94 means they have usually moved in the same direction. HDEF charges 0.20%/yr vs 0.08%/yr for SCHY.

Performance

HDEF vs. SCHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) and Schwab International Dividend Equity ETF (SCHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HDEF achieves a 12.33% return, which is significantly lower than SCHY's 13.81% return.

HDEF

• 1D: -0.95%
• 1M: 3.70%
• 6M: 8.55%
• YTD: 12.33%
• 1Y: 23.62%
• 3Y*: 17.68%
• 5Y*: 11.81%
• 10Y*: 9.09%
• ALL TIME*: 8.10%

SCHY

• 1D: -0.48%
• 1M: 4.02%
• 6M: 7.91%
• YTD: 13.81%
• 1Y: 28.39%
• 3Y*: 15.88%
• 5Y*: 9.14%
• 10Y*: —
• ALL TIME*: 9.40%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF	$3.46M	$3.74M	$5.68M
SCHY Schwab International Dividend Equity ETF	$27.81M	$25.09M	$19.24M

HDEF vs. SCHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF	12.33%	33.01%	2.85%	18.53%	-2.51%	-0.27%
SCHY Schwab International Dividend Equity ETF	13.81%	33.98%	-1.79%	14.27%	-9.43%	3.42%

Correlation

The correlation between HDEF and SCHY is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (All Time) Calculated using the full available price history since Apr 29, 2021	0.94

The correlation between HDEF and SCHY has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

HDEF vs. SCHY - Sectors Allocation Comparison

Sectors	HDEF	SCHY
Financial Services	27.2%	13.2%
Consumer Defensive	20.0%	17.6%
Healthcare	17.2%	8.6%
Energy	10.4%	7.2%
Utilities	8.1%	5.7%
Industrials	7.6%	8.8%
Consumer Cyclical	3.8%	7.6%
Communication Services	3.7%	11.6%
Real Estate	0.8%	0.6%
Technology	0.6%	9.0%
Basic Materials	0.6%	5.4%

Return for Risk

HDEF vs. SCHY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HDEF

HDEF Risk / Return Rank: 83
HDEF Sharpe Ratio Rank: 87
HDEF Sortino Ratio Rank: 87
HDEF Omega Ratio Rank: 87
HDEF Calmar Ratio Rank: 82
HDEF Martin Ratio Rank: 71

SCHY

SCHY Risk / Return Rank: 86
SCHY Sharpe Ratio Rank: 92
SCHY Sortino Ratio Rank: 91
SCHY Omega Ratio Rank: 91
SCHY Calmar Ratio Rank: 84
SCHY Martin Ratio Rank: 73

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HDEF vs. SCHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) and Schwab International Dividend Equity ETF (SCHY). 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.

	HDEF	SCHY	Difference
Sharpe ratio: Return per unit of total volatility	2.09	2.39	-0.31
Sortino ratio: Return per unit of downside risk	2.91	3.27	-0.35
Omega ratio: Gain probability vs. loss probability	1.39	1.43	-0.05
Calmar ratio: Return relative to maximum drawdown	3.02	3.15	-0.14
Martin ratio: Return relative to average drawdown	8.62	8.98	-0.35

HDEF vs. SCHY - Sharpe Ratio Comparison

The current HDEF Sharpe Ratio is 2.09, which is comparable to the SCHY Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of HDEF and SCHY, 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

HDEF vs. SCHY - Drawdown Comparison

The maximum HDEF drawdown since its inception was -36.43%, which is greater than SCHY's maximum drawdown of -24.04%. Use the drawdown chart below to compare losses from any high point for HDEF and SCHY.

Drawdown Indicators

	HDEF	SCHY	Difference
Max Drawdown Largest peak-to-trough decline	-36.43%	-24.04%	-12.39%
Max Drawdown (1Y) Largest decline over 1 year	-8.03%	-9.11%	+1.08%
Max Drawdown (3Y) Largest decline over 3 years	-11.15%	-12.16%	+1.01%
Max Drawdown (5Y) Largest decline over 5 years	-23.63%	-24.04%	+0.41%
Max Drawdown (10Y) Largest decline over 10 years	-36.43%	—	—
Current Drawdown Current decline from peak	-0.95%	-0.48%	-0.47%
Average Drawdown Average peak-to-trough decline	-5.02%	-4.93%	-0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	3.19%	-0.39%

Volatility

HDEF vs. SCHY - Volatility Comparison

Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) has a higher volatility of 3.31% compared to Schwab International Dividend Equity ETF (SCHY) at 3.10%. This indicates that HDEF's price experiences larger fluctuations and is considered to be riskier than SCHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDEF	SCHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.31%	3.10%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	9.46%	10.07%	-0.61%
Volatility (1Y) Calculated over the trailing 1-year period	11.67%	12.03%	-0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.14%	13.27%	+0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.13%	13.18%	+2.95%

HDEF vs. SCHY - Expense Ratio Comparison

HDEF has a 0.20% expense ratio, which is higher than SCHY's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HDEF vs. SCHY - Dividend Comparison

HDEF's dividend yield for the trailing twelve months is around 3.70%, more than SCHY's 3.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF	3.70%	3.88%	4.53%	4.38%	5.41%	4.76%	3.93%	4.20%	3.55%	3.38%	9.53%	1.87%
SCHY Schwab International Dividend Equity ETF	3.32%	3.55%	4.64%	3.97%	3.67%	1.73%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HDEF and SCHY in my portfolio?

With a correlation of 0.92, HDEF and SCHY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, HDEF or SCHY?

HDEF has higher volatility (3.31%) compared to SCHY (3.10%). In terms of maximum drawdown, HDEF dropped -36.43% vs SCHY's -24.04%.

Which ETF is better, HDEF or SCHY?

On 5-year performance, HDEF leads with 11.81% vs 9.14% for SCHY. On fees, SCHY is cheaper at 0.08% per year. On volatility, SCHY has been the lower-risk option at 3.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HDEF or SCHY?

Over the 5-year period, HDEF has performed better with a 11.81% return vs 9.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HDEF or SCHY?

SCHY is cheaper with a 0.08% expense ratio, compared with 0.20% for HDEF.

Which ETF pays a higher dividend yield, HDEF or SCHY?

HDEF has the higher dividend yield at 3.70%, compared with 3.32% for SCHY.

What is the main difference between HDEF and SCHY?

HDEF is categorized as Foreign Large Cap Equities, while SCHY is Dividend. HDEF tracks MSCI EAFE High Dividend Yield US Dollar Hedged Index, while SCHY tracks Dow Jones International Dividend 100 Index (Net). They also come from different issuers: Deutsche Bank and Charles Schwab. Their fees differ too: 0.20% for HDEF and 0.08% for SCHY.

Which has better risk-adjusted returns?

SCHY currently has the higher Sharpe Ratio (2.39 vs 2.09), 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.