PY vs. SCHD

Last updated Jun 3, 2026

PY (Principal Value ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - PY is a Large Cap Value Equities fund actively managed by Principal, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. PY is actively managed, while SCHD is passively managed. Over the past 10 years, PY returned 10.78%/yr vs 12.77%/yr for SCHD. A 0.69 correlation means they provide meaningful diversification when combined. PY charges 0.15%/yr vs 0.06%/yr for SCHD.

Performance

PY vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Value ETF (PY) 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, PY achieves a 4.65% return, which is significantly lower than SCHD's 19.01% return. Over the past 10 years, PY has underperformed SCHD with an annualized return of 10.78%, while SCHD has yielded a comparatively higher 12.77% annualized return.

PY

• 1D: -0.26%
• 1M: 1.39%
• YTD: 4.65%
• 6M: 5.77%
• 1Y: 15.84%
• 3Y*: 13.41%
• 5Y*: 7.48%
• 10Y*: 10.78%

SCHD

• 1D: 0.59%
• 1M: 1.60%
• YTD: 19.01%
• 6M: 20.36%
• 1Y: 28.08%
• 3Y*: 15.09%
• 5Y*: 8.49%
• 10Y*: 12.77%

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

PY vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PY Principal Value ETF	4.65%	7.74%	16.79%	9.11%	-5.10%	34.83%	2.71%	26.87%	-13.34%	18.87%
SCHD Schwab U.S. Dividend Equity ETF	19.01%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between PY and SCHD is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Mar 23, 2016	0.69

The correlation between PY and SCHD shifts across timeframes, from 0.69 (all time) to 0.89 (5 years), reflecting how their relationship changes across market environments.

PY vs. SCHD - Sectors Allocation Comparison

Sectors	PY	SCHD
Technology	25.0%	16.4%
Financial Services	16.5%	9.3%
Healthcare	12.0%	18.8%
Consumer Defensive	11.5%	19.2%
Consumer Cyclical	11.0%	6.3%
Industrials	9.3%	7.5%
Energy	5.6%	16.2%
Communication Services	5.1%	6.3%
Utilities	1.7%	0.0%
Basic Materials	1.2%	1.2%
Real Estate	1.1%	-

Return for Risk

PY vs. SCHD — Risk / Return Rank

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

PY

PY Risk / Return Rank: 45
PY Sharpe Ratio Rank: 42
PY Sortino Ratio Rank: 43
PY Omega Ratio Rank: 41
PY Calmar Ratio Rank: 50
PY Martin Ratio Rank: 50

SCHD

SCHD Risk / Return Rank: 82
SCHD Sharpe Ratio Rank: 78
SCHD Sortino Ratio Rank: 87
SCHD Omega Ratio Rank: 76
SCHD Calmar Ratio Rank: 92
SCHD Martin Ratio Rank: 77

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.

PY vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Value ETF (PY) 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.

	PY	SCHD	Difference
Sharpe ratio Return per unit of total volatility	1.51	2.57	-1.06
Sortino ratio Return per unit of downside risk	2.20	3.98	-1.78
Omega ratio Gain probability vs. loss probability	1.27	1.46	-0.19
Calmar ratio Return relative to maximum drawdown	2.54	6.17	-3.63
Martin ratio Return relative to average drawdown	8.52	15.20	-6.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PY vs. SCHD - Sharpe Ratio Comparison

The current PY Sharpe Ratio is 1.51, which is lower than the SCHD Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of PY 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.

Sharpe Ratios by Period

	PY	SCHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	2.57	-1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.59	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.77	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.86	-0.32

Drawdowns

PY vs. SCHD - Drawdown Comparison

The maximum PY drawdown since its inception was -45.44%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for PY and SCHD.

Drawdown Indicators

	PY	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-45.44%	-33.37%	-12.07%
Max Drawdown (1Y) Largest decline over 1 year	-6.20%	-4.61%	-1.59%
Max Drawdown (3Y) Largest decline over 3 years	-17.84%	-16.13%	-1.71%
Max Drawdown (5Y) Largest decline over 5 years	-17.84%	-16.85%	-0.99%
Max Drawdown (10Y) Largest decline over 10 years	-45.44%	-33.37%	-12.07%
Current Drawdown Current decline from peak	-0.50%	-1.40%	+0.90%
Average Drawdown Average peak-to-trough decline	-5.05%	-3.32%	-1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	1.87%	-0.02%

Volatility

PY vs. SCHD - Volatility Comparison

The current volatility for Principal Value ETF (PY) is 2.38%, while Schwab U.S. Dividend Equity ETF (SCHD) has a volatility of 2.92%. This indicates that PY 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

	PY	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.38%	2.92%	-0.54%
Volatility (6M) Calculated over the trailing 6-month period	7.27%	7.66%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	10.52%	10.96%	-0.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.77%	14.38%	+1.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.08%	16.72%	+3.36%

PY vs. SCHD - Expense Ratio Comparison

PY has a 0.15% 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

PY vs. SCHD - Dividend Comparison

PY's dividend yield for the trailing twelve months is around 2.12%, less than SCHD's 3.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PY Principal Value ETF	2.12%	2.14%	2.22%	2.68%	3.02%	2.83%	2.95%	2.25%	2.34%	1.68%	1.85%	0.00%
SCHD Schwab U.S. Dividend Equity ETF	3.26%	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 PY and SCHD in my portfolio?

PY and SCHD have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PY or SCHD?

SCHD has higher volatility (2.92%) compared to PY (2.38%). In terms of maximum drawdown, PY dropped -45.44% vs SCHD's -33.37%.

Which ETF is better, PY or SCHD?

On 10-year performance, SCHD leads with 12.77% vs 10.78% for PY. On fees, SCHD is cheaper at 0.06% per year. On volatility, PY has been the lower-risk option at 2.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PY or SCHD?

Over the 10-year period, SCHD has performed better with a 12.77% return vs 10.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PY or SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.15% for PY.

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

SCHD has the higher dividend yield at 3.26%, compared with 2.12% for PY.

What is the main difference between PY and SCHD?

PY is categorized as Large Cap Value Equities, while SCHD is Dividend. They also come from different issuers: Principal and Charles Schwab. Their fees differ too: 0.15% for PY and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.57 vs 1.51), 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.