MKDVX vs. SCHD

Last updated Jul 21, 2026

MKDVX (BlackRock Equity Dividend Fund Class K) and SCHD (Schwab U.S. Dividend Equity ETF) are both Dividend funds. MKDVX is actively managed, while SCHD is passively managed. Over the past 5 years, MKDVX returned 11.26%/yr vs 9.15%/yr for SCHD. Their correlation of 0.88 suggests significant overlap in exposure. MKDVX charges 0.59%/yr vs 0.06%/yr for SCHD.

Performance

MKDVX vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Equity Dividend Fund Class K (MKDVX) 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, MKDVX achieves a 14.91% return, which is significantly lower than SCHD's 21.36% return.

MKDVX

• 1D: -0.67%
• 1M: 2.67%
• 6M: 11.48%
• YTD: 14.91%
• 1Y: 25.50%
• 3Y*: 15.95%
• 5Y*: 11.26%
• 10Y*: —
• ALL TIME*: 11.40%

SCHD

• 1D: -0.49%
• 1M: 3.61%
• 6M: 15.19%
• YTD: 21.36%
• 1Y: 25.66%
• 3Y*: 13.54%
• 5Y*: 9.15%
• 10Y*: 12.32%
• ALL TIME*: 13.25%

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

MKDVX vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MKDVX BlackRock Equity Dividend Fund Class K	14.91%	21.87%	7.12%	12.79%	-3.81%	20.28%	4.12%	27.74%	-7.03%	15.62%
SCHD Schwab U.S. Dividend Equity ETF	21.36%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between MKDVX and SCHD is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.88

The correlation between MKDVX and SCHD shifts across timeframes, from 0.71 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MKDVX vs. SCHD — Risk / Return Rank

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

MKDVX

MKDVX Risk / Return Rank: 82
MKDVX Sharpe Ratio Rank: 83
MKDVX Sortino Ratio Rank: 81
MKDVX Omega Ratio Rank: 80
MKDVX Calmar Ratio Rank: 79
MKDVX Martin Ratio Rank: 85

SCHD

SCHD Risk / Return Rank: 91
SCHD Sharpe Ratio Rank: 90
SCHD Sortino Ratio Rank: 93
SCHD Omega Ratio Rank: 88
SCHD Calmar Ratio Rank: 95
SCHD Martin Ratio Rank: 87

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.

MKDVX vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Equity Dividend Fund Class K (MKDVX) 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.

	MKDVX	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	2.18	2.34	-0.15
Sortino ratio: Return per unit of downside risk	3.07	3.63	-0.56
Omega ratio: Gain probability vs. loss probability	1.39	1.42	-0.02
Calmar ratio: Return relative to maximum drawdown	2.86	5.59	-2.73
Martin ratio: Return relative to average drawdown	12.01	13.64	-1.64

MKDVX vs. SCHD - Sharpe Ratio Comparison

The current MKDVX Sharpe Ratio is 2.18, which is comparable to the SCHD Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of MKDVX 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

MKDVX vs. SCHD - Drawdown Comparison

The maximum MKDVX drawdown since its inception was -35.91%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for MKDVX and SCHD.

Drawdown Indicators

	MKDVX	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-35.91%	-33.37%	-2.54%
Max Drawdown (1Y) Largest decline over 1 year	-8.97%	-4.61%	-4.36%
Max Drawdown (3Y) Largest decline over 3 years	-15.16%	-16.13%	+0.97%
Max Drawdown (5Y) Largest decline over 5 years	-18.03%	-16.85%	-1.18%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.37%	—
Current Drawdown Current decline from peak	-0.67%	-0.88%	+0.21%
Average Drawdown Average peak-to-trough decline	-4.12%	-3.30%	-0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	1.89%	+0.24%

Volatility

MKDVX vs. SCHD - Volatility Comparison

The current volatility for BlackRock Equity Dividend Fund Class K (MKDVX) is 3.42%, while Schwab U.S. Dividend Equity ETF (SCHD) has a volatility of 3.63%. This indicates that MKDVX experiences smaller price fluctuations and is considered to be less risky than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MKDVX	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.42%	3.63%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	9.44%	7.97%	+1.47%
Volatility (1Y) Calculated over the trailing 1-year period	11.73%	11.05%	+0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.24%	14.37%	-0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.54%	16.71%	-0.17%

MKDVX vs. SCHD - Expense Ratio Comparison

MKDVX has a 0.59% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

MKDVX vs. SCHD - Dividend Comparison

MKDVX's dividend yield for the trailing twelve months is around 6.62%, more than SCHD's 3.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MKDVX BlackRock Equity Dividend Fund Class K	6.62%	10.35%	8.72%	7.21%	13.62%	12.27%	6.47%	13.26%	14.21%	14.49%	0.00%	0.00%
SCHD Schwab U.S. Dividend Equity ETF	3.20%	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 MKDVX and SCHD in my portfolio?

MKDVX and SCHD have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MKDVX or SCHD?

SCHD has higher volatility (3.63%) compared to MKDVX (3.42%). In terms of maximum drawdown, MKDVX dropped -35.91% vs SCHD's -33.37%.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.34 vs 2.18), 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.