SCHD vs. SCDL
SCHD (Schwab U.S. Dividend Equity ETF) and SCDL (ETRACS 2x Leveraged U.S. Dividend Factor TR ETN) are both exchange-traded funds - SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index, while SCDL is a Leveraged Equities fund tracking the Dow Jones U.S. Dividend 100 (200%). Both are passively managed. Over the past 5 years, SCHD returned 8.36%/yr vs 9.40%/yr for SCDL. With a 0.99 correlation, they move nearly in lockstep. SCHD charges 0.06%/yr vs 0.95%/yr for SCDL.
Performance
SCHD vs. SCDL - Performance Comparison
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Returns By Period
In the year-to-date period, SCHD achieves a 19.01% return, which is significantly lower than SCDL's 37.06% return.
SCHD
- 1D
- 0.00%
- 1M
- 2.70%
- YTD
- 19.01%
- 6M
- 18.63%
- 1Y
- 27.16%
- 3Y*
- 15.09%
- 5Y*
- 8.36%
- 10Y*
- 12.77%
SCDL
- 1D
- 0.51%
- 1M
- 5.01%
- YTD
- 37.06%
- 6M
- 35.80%
- 1Y
- 50.97%
- 3Y*
- 22.79%
- 5Y*
- 9.40%
- 10Y*
- —
SCHD vs. SCDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SCHD Schwab U.S. Dividend Equity ETF | 19.01% | 4.34% | 11.66% | 4.54% | -3.26% | 26.16% |
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN | 37.06% | 2.05% | 14.99% | 0.18% | -13.06% | 52.47% |
Correlation
The correlation between SCHD and SCDL is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2021 | 0.99 |
The correlation between SCHD and SCDL has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
SCHD vs. SCDL — Risk / Return Rank
SCHD
SCDL
SCHD vs. SCDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Dividend Equity ETF (SCHD) and ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL). 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.
| SCHD | SCDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.39 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 5.91 | 5.03 | +0.88 |
| Martin ratioReturn relative to average drawdown | 14.53 | 12.65 | +1.88 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SCHD | SCDL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.49 | 2.37 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | 0.33 | +0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.53 | +0.33 |
Drawdowns
SCHD vs. SCDL - Drawdown Comparison
The maximum SCHD drawdown since its inception was -33.37%, roughly equal to the maximum SCDL drawdown of -34.87%. Use the drawdown chart below to compare losses from any high point for SCHD and SCDL.
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Drawdown Indicators
| SCHD | SCDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.37% | -34.87% | +1.50% |
Max Drawdown (1Y)Largest decline over 1 year | -4.61% | -10.19% | +5.58% |
Max Drawdown (3Y)Largest decline over 3 years | -16.13% | -32.79% | +16.66% |
Max Drawdown (5Y)Largest decline over 5 years | -16.85% | -34.87% | +18.02% |
Max Drawdown (10Y)Largest decline over 10 years | -33.37% | — | — |
Current DrawdownCurrent decline from peak | -1.40% | -2.79% | +1.39% |
Average DrawdownAverage peak-to-trough decline | -3.32% | -11.96% | +8.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 4.04% | -2.16% |
Volatility
SCHD vs. SCDL - Volatility Comparison
The current volatility for Schwab U.S. Dividend Equity ETF (SCHD) is 2.66%, while ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) has a volatility of 5.20%. This indicates that SCHD experiences smaller price fluctuations and is considered to be less risky than SCDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHD | SCDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 5.20% | -2.54% |
Volatility (6M)Calculated over the trailing 6-month period | 7.66% | 14.82% | -7.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.96% | 21.66% | -10.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.38% | 29.02% | -14.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.72% | 28.89% | -12.17% |
SCHD vs. SCDL - Expense Ratio Comparison
SCHD has a 0.06% expense ratio, which is lower than SCDL's 0.95% expense ratio.
Dividends
SCHD vs. SCDL - Dividend Comparison
SCHD's dividend yield for the trailing twelve months is around 3.26%, while SCDL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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
With a correlation of 0.98, SCHD and SCDL 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.
SCDL has higher volatility (5.20%) compared to SCHD (2.66%). In terms of maximum drawdown, SCHD dropped -33.37% vs SCDL's -34.87%.
On 5-year performance, SCDL leads with 9.40% vs 8.36% for SCHD. On fees, SCHD is cheaper at 0.06% per year. On volatility, SCHD has been the lower-risk option at 2.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SCDL has performed better with a 9.40% return vs 8.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHD is cheaper with a 0.06% expense ratio, compared with 0.95% for SCDL.
SCHD has the higher dividend yield at 3.26%, compared with 0.00% for SCDL.
SCHD is categorized as Dividend, while SCDL is Leveraged Equities. SCHD tracks Dow Jones U.S. Dividend 100 Index, while SCDL tracks Dow Jones U.S. Dividend 100 (200%). They also come from different issuers: Charles Schwab and UBS. Their fees differ too: 0.06% for SCHD and 0.95% for SCDL.
SCHD currently has the higher Sharpe Ratio (2.49 vs 2.37), 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.
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