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HDV vs. SCHD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HDV vs. SCHD

Last updated Apr 17, 2026

HDV (iShares Core High Dividend ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds — HDV is a Large Cap Value Equities fund tracking the Morningstar Dividend Yield Focus 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, HDV returned 9.23%/yr vs 12.26%/yr for SCHD. Their correlation of 0.90 suggests significant overlap in exposure. HDV charges 0.08%/yr vs 0.06%/yr for SCHD.

Performance

HDV vs. SCHD - Performance Comparison

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

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Returns By Period

In the year-to-date period, HDV achieves a 10.61% return, which is significantly lower than SCHD's 13.27% return. Over the past 10 years, HDV has underperformed SCHD with an annualized return of 9.23%, while SCHD has yielded a comparatively higher 12.26% annualized return.

HDV

1D
0.31%
1M
-1.33%
YTD
10.61%
6M
12.32%
1Y
23.17%
3Y*
12.48%
5Y*
10.59%
10Y*
9.23%

SCHD

1D
0.52%
1M
0.39%
YTD
13.27%
6M
18.14%
1Y
27.34%
3Y*
11.82%
5Y*
7.98%
10Y*
12.26%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HDV vs. SCHD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HDV
iShares Core High Dividend ETF		10.61%11.90%14.16%1.72%7.05%19.45%-6.48%20.22%-3.01%13.40%
SCHD
Schwab U.S. Dividend Equity ETF		13.27%4.34%11.66%4.54%-3.26%29.87%15.03%27.29%-5.56%20.85%

Correlation

The correlation between HDV and SCHD is 0.86, 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

0.86

Correlation (3Y)
Calculated over the trailing 3-year period

0.87

Correlation (5Y)
Calculated over the trailing 5-year period

0.89

Correlation (All Time)
Calculated using the full available price history since Oct 21, 2011

0.90

The correlation between HDV and SCHD has been stable across timeframes, ranging from 0.86 to 0.90 — a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core High Dividend ETF

Schwab U.S. Dividend Equity ETF

Often compared with HDV:
HDV vs. VYMHDV vs. SPYDHDV vs. DGROHDV vs. DVYHDV vs. VIGHDV vs. SPYHDV vs. VOO
Often compared with SCHD:
SCHD vs. VOOSCHD vs. VYMSCHD vs. SPYSCHD vs. SCHGSCHD vs. JEPISCHD vs. FDVVSCHD vs. VIG

Return for Risk

HDV vs. SCHD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HDV
HDV Risk / Return Rank: 6767
Overall Rank
HDV Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
HDV Sortino Ratio Rank: 7171
Sortino Ratio Rank
HDV Omega Ratio Rank: 6363
Omega Ratio Rank
HDV Calmar Ratio Rank: 7474
Calmar Ratio Rank
HDV Martin Ratio Rank: 6565
Martin Ratio Rank
SCHD
SCHD Risk / Return Rank: 7171
Overall Rank
SCHD Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
SCHD Sortino Ratio Rank: 7575
Sortino Ratio Rank
SCHD Omega Ratio Rank: 6464
Omega Ratio Rank
SCHD Calmar Ratio Rank: 8888
Calmar Ratio Rank
SCHD Martin Ratio Rank: 6262
Martin Ratio Rank
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.

HDV vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core High Dividend ETF (HDV) 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.

HDVSCHDDifference

Sharpe ratio

Return per unit of total volatility

2.35

2.37

-0.01

Sortino ratio

Return per unit of downside risk

3.45

3.63

-0.18

Omega ratio

Gain probability vs. loss probability

1.41

1.42

-0.01

Calmar ratio

Return relative to maximum drawdown

4.21

5.42

-1.21

Martin ratio

Return relative to average drawdown

13.84

13.29

+0.56

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HDV vs. SCHD - Sharpe Ratio Comparison

The current HDV Sharpe Ratio is 2.35, which is comparable to the SCHD Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of HDV 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.

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Sharpe Ratios by Period

HDVSCHDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.35

2.37

-0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.83

0.56

+0.27

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.59

0.74

-0.15

Sharpe Ratio (All Time)

Calculated using the full available price history

0.72

0.84

-0.12

Drawdowns

HDV vs. SCHD - Drawdown Comparison

The maximum HDV drawdown since its inception was -37.04%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for HDV and SCHD.

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Drawdown Indicators

HDVSCHDDifference

Max Drawdown

Largest peak-to-trough decline

-37.04%

-33.37%

-3.67%

Max Drawdown (1Y)

Largest decline over 1 year

-5.18%

-4.61%

-0.57%

Max Drawdown (5Y)

Largest decline over 5 years

-15.42%

-16.85%

+1.43%

Max Drawdown (10Y)

Largest decline over 10 years

-37.04%

-33.37%

-3.67%

Current Drawdown

Current decline from peak

-4.04%

-2.48%

-1.56%

Average Drawdown

Average peak-to-trough decline

-3.09%

-3.34%

+0.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.57%

1.88%

-0.31%

Volatility

HDV vs. SCHD - Volatility Comparison

iShares Core High Dividend ETF (HDV) has a higher volatility of 3.10% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 2.72%. This indicates that HDV's price experiences larger fluctuations and is considered to be riskier than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HDVSCHDDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.10%

2.72%

+0.38%

Volatility (6M)

Calculated over the trailing 6-month period

7.21%

7.77%

-0.56%

Volatility (1Y)

Calculated over the trailing 1-year period

9.98%

11.74%

-1.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.81%

14.40%

-1.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.70%

16.70%

-1.00%

HDV vs. SCHD - Expense Ratio Comparison

HDV has a 0.08% expense ratio, which is higher than SCHD's 0.06% 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

HDV vs. SCHD - Dividend Comparison

HDV's dividend yield for the trailing twelve months is around 2.96%, less than SCHD's 3.43% yield.

TTM20252024202320222021202020192018201720162015
HDV
iShares Core High Dividend ETF		2.96%3.22%3.67%3.82%3.56%3.47%4.07%3.27%3.67%3.27%3.28%3.92%
SCHD
Schwab U.S. Dividend Equity ETF		3.43%3.82%3.64%3.49%3.39%2.78%3.16%2.98%3.06%2.63%2.89%2.97%