SCHD vs. FDVV

Last updated Jun 13, 2026

SCHD (Schwab U.S. Dividend Equity ETF) and FDVV (Fidelity High Dividend ETF) are both exchange-traded funds - SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index, while FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index. Both are passively managed. Over the past 5 years, SCHD returned 8.75%/yr vs 13.53%/yr for FDVV. Their correlation of 0.86 suggests significant overlap in exposure. SCHD charges 0.06%/yr vs 0.29%/yr for FDVV.

Performance

SCHD vs. FDVV - Performance Comparison

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

Returns By Period

In the year-to-date period, SCHD achieves a 20.66% return, which is significantly higher than FDVV's 9.30% return.

SCHD

• 1D: 0.89%
• 1M: 3.37%
• YTD: 20.66%
• 6M: 19.57%
• 1Y: 26.16%
• 3Y*: 14.90%
• 5Y*: 8.75%
• 10Y*: 12.91%

FDVV

• 1D: 0.57%
• 1M: 3.47%
• YTD: 9.30%
• 6M: 9.44%
• 1Y: 22.58%
• 3Y*: 19.75%
• 5Y*: 13.53%
• 10Y*: —

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

SCHD vs. FDVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHD Schwab U.S. Dividend Equity ETF	20.66%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%
FDVV Fidelity High Dividend ETF	9.30%	17.08%	21.81%	18.00%	-4.21%	29.24%	2.80%	24.07%	-1.26%	14.00%

Correlation

The correlation between SCHD and FDVV is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016	0.86

Over the past year, the correlation between SCHD and FDVV has dropped to 0.64 - well below their long-term average of 0.86, suggesting their price drivers have been diverging.

SCHD vs. FDVV - Sectors Allocation Comparison

Sectors	SCHD	FDVV
Consumer Defensive	19.2%	11.0%
Healthcare	18.8%	3.1%
Technology	16.4%	29.1%
Energy	16.2%	-
Financial Services	9.3%	17.0%
Industrials	7.5%	3.4%
Communication Services	6.3%	3.7%
Consumer Cyclical	6.3%	13.6%
Basic Materials	1.2%	-
Utilities	0.0%	8.7%
Real Estate	-	10.1%

Return for Risk

SCHD vs. FDVV — Risk / Return Rank

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

SCHD

SCHD Risk / Return Rank: 87
SCHD Sharpe Ratio Rank: 86
SCHD Sortino Ratio Rank: 90
SCHD Omega Ratio Rank: 83
SCHD Calmar Ratio Rank: 93
SCHD Martin Ratio Rank: 81

FDVV

FDVV Risk / Return Rank: 73
FDVV Sharpe Ratio Rank: 81
FDVV Sortino Ratio Rank: 82
FDVV Omega Ratio Rank: 81
FDVV Calmar Ratio Rank: 56
FDVV Martin Ratio Rank: 64

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.

SCHD vs. FDVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Dividend Equity ETF (SCHD) and Fidelity High Dividend ETF (FDVV). 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.

	SCHD	FDVV	Difference
Sharpe ratio: Return per unit of total volatility	2.41	2.24	+0.17
Sortino ratio: Return per unit of downside risk	3.72	3.14	+0.58
Omega ratio: Gain probability vs. loss probability	1.43	1.41	+0.02
Calmar ratio: Return relative to maximum drawdown	5.70	2.44	+3.26
Martin ratio: Return relative to average drawdown	13.97	10.11	+3.86

SCHD vs. FDVV - Sharpe Ratio Comparison

The current SCHD Sharpe Ratio is 2.41, which is comparable to the FDVV Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of SCHD and FDVV, 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

SCHD vs. FDVV - Drawdown Comparison

The maximum SCHD drawdown since its inception was -33.37%, smaller than the maximum FDVV drawdown of -40.25%. Use the drawdown chart below to compare losses from any high point for SCHD and FDVV.

Drawdown Indicators

	SCHD	FDVV	Difference
Max Drawdown Largest peak-to-trough decline	-33.37%	-40.25%	+6.88%
Max Drawdown (1Y) Largest decline over 1 year	-4.61%	-9.30%	+4.69%
Max Drawdown (3Y) Largest decline over 3 years	-16.13%	-15.90%	-0.23%
Max Drawdown (5Y) Largest decline over 5 years	-16.85%	-20.18%	+3.33%
Max Drawdown (10Y) Largest decline over 10 years	-33.37%	—	—
Current Drawdown Current decline from peak	-0.03%	-0.29%	+0.26%
Average Drawdown Average peak-to-trough decline	-3.31%	-3.80%	+0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	2.24%	-0.35%

Volatility

SCHD vs. FDVV - Volatility Comparison

Schwab U.S. Dividend Equity ETF (SCHD) and Fidelity High Dividend ETF (FDVV) have volatilities of 3.05% and 3.16%, 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

	SCHD	FDVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	3.16%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	7.53%	8.16%	-0.63%
Volatility (1Y) Calculated over the trailing 1-year period	10.93%	10.12%	+0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.38%	14.76%	-0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.72%	16.98%	-0.26%

SCHD vs. FDVV - Expense Ratio Comparison

SCHD has a 0.06% expense ratio, which is lower than FDVV's 0.29% expense ratio.

Dividends

SCHD vs. FDVV - Dividend Comparison

SCHD's dividend yield for the trailing twelve months is around 3.22%, more than FDVV's 2.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDVV Fidelity High Dividend ETF	2.70%	2.89%	2.94%	3.77%	3.44%	2.70%	3.19%	3.93%	4.05%	3.66%	1.04%	0.00%
SCHD Schwab U.S. Dividend Equity ETF	3.22%	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 SCHD and FDVV in my portfolio?

SCHD and FDVV have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHD or FDVV?

FDVV has higher volatility (3.16%) compared to SCHD (3.05%). In terms of maximum drawdown, SCHD dropped -33.37% vs FDVV's -40.25%.

Which ETF is better, SCHD or FDVV?

On 5-year performance, FDVV leads with 13.53% vs 8.75% for SCHD. On fees, SCHD is cheaper at 0.06% per year. On volatility, SCHD has been the lower-risk option at 3.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHD or FDVV?

Over the 5-year period, FDVV has performed better with a 13.53% return vs 8.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHD or FDVV?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.29% for FDVV.

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

SCHD has the higher dividend yield at 3.22%, compared with 2.70% for FDVV.

What is the main difference between SCHD and FDVV?

SCHD is categorized as Dividend, while FDVV is Large Cap Blend Equities. SCHD tracks Dow Jones U.S. Dividend 100 Index, while FDVV tracks Fidelity Core Dividend Index. They also come from different issuers: Charles Schwab and Fidelity. Their fees differ too: 0.06% for SCHD and 0.29% for FDVV.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.41 vs 2.24), 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.