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SCHD vs. SPYI
Performance
Return for Risk
Dividends
Drawdowns
Volatility

SCHD vs. SPYI

Last updated Apr 3, 2026

Compare and contrast key facts about Schwab U.S. Dividend Equity ETF (SCHD) and NEOS S&P 500 High Income ETF (SPYI).

SCHD and SPYI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SCHD is a passively managed fund by Charles Schwab that tracks the performance of the Dow Jones U.S. Dividend 100 Index. It was launched on Oct 20, 2011. SPYI is an actively managed fund by Neos. It was launched on Aug 29, 2022.

Performance

SCHD vs. SPYI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Dividend Equity ETF (SCHD) and NEOS S&P 500 High Income ETF (SPYI). The values are adjusted to include any dividend payments, if applicable.

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SCHD vs. SPYI - Yearly Performance Comparison

2026 (YTD)2025202420232022
SCHD
Schwab U.S. Dividend Equity ETF		12.35%4.34%11.66%4.54%5.37%
SPYI
NEOS S&P 500 High Income ETF		-2.44%16.67%19.03%18.09%-2.44%

Returns By Period

In the year-to-date period, SCHD achieves a 12.35% return, which is significantly higher than SPYI's -2.44% return.

SCHD

1D
0.16%
1M
-2.44%
YTD
12.35%
6M
13.88%
1Y
13.89%
3Y*
11.70%
5Y*
8.35%
10Y*
12.30%

SPYI

1D
0.15%
1M
-2.84%
YTD
-2.44%
6M
0.76%
1Y
16.34%
3Y*
14.35%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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

Schwab U.S. Dividend Equity ETF

NEOS S&P 500 High Income ETF

Often compared with SCHD:
SCHD vs. VOOSCHD vs. VYMSCHD vs. SPYSCHD vs. SCHGSCHD vs. JEPISCHD vs. FDVVSCHD vs. VIG
Often compared with SPYI:
SPYI vs. QQQISPYI vs. SPYSPYI vs. JEPISPYI vs. JEPQSPYI vs. GPIXSPYI vs. VOOSPYI vs. TSPY

SCHD vs. SPYI - Expense Ratio Comparison

SCHD has a 0.06% expense ratio, which is lower than SPYI's 0.68% expense ratio.

SPYI
NEOS S&P 500 High Income ETF
SCHD
Schwab U.S. Dividend Equity ETF

Return for Risk

SCHD vs. SPYI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SCHD
SCHD Risk / Return Rank: 4040
Overall Rank
SCHD Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
SCHD Sortino Ratio Rank: 4545
Sortino Ratio Rank
SCHD Omega Ratio Rank: 4444
Omega Ratio Rank
SCHD Calmar Ratio Rank: 3434
Calmar Ratio Rank
SCHD Martin Ratio Rank: 3434
Martin Ratio Rank
SPYI
SPYI Risk / Return Rank: 5858
Overall Rank
SPYI Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
SPYI Sortino Ratio Rank: 5555
Sortino Ratio Rank
SPYI Omega Ratio Rank: 6565
Omega Ratio Rank
SPYI Calmar Ratio Rank: 5151
Calmar Ratio Rank
SPYI Martin Ratio Rank: 6868
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.

SCHD vs. SPYI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Dividend Equity ETF (SCHD) and NEOS S&P 500 High Income ETF (SPYI). 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.

SCHDSPYIDifference

Sharpe ratio

Return per unit of total volatility

0.89

1.01

-0.12

Sortino ratio

Return per unit of downside risk

1.34

1.53

-0.20

Omega ratio

Gain probability vs. loss probability

1.19

1.26

-0.07

Calmar ratio

Return relative to maximum drawdown

1.09

1.54

-0.45

Martin ratio

Return relative to average drawdown

3.69

7.96

-4.26

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

SCHD vs. SPYI - Sharpe Ratio Comparison

The current SCHD Sharpe Ratio is 0.89, which is comparable to the SPYI Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of SCHD and SPYI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

SCHDSPYIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.89

1.01

-0.12

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.58

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.74

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.84

1.01

-0.17

Correlation

The correlation between SCHD and SPYI is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SCHD vs. SPYI - Dividend Comparison

SCHD's dividend yield for the trailing twelve months is around 3.45%, less than SPYI's 12.41% yield.

TTM20252024202320222021202020192018201720162015
SCHD
Schwab U.S. Dividend Equity ETF		3.45%3.82%3.64%3.49%3.39%2.78%3.16%2.98%3.06%2.63%2.89%2.97%
SPYI
NEOS S&P 500 High Income ETF		12.41%11.70%12.04%12.01%4.10%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

SCHD vs. SPYI - Drawdown Comparison

The maximum SCHD drawdown since its inception was -33.37%, which is greater than SPYI's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for SCHD and SPYI.

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Drawdown Indicators

SCHDSPYIDifference

Max Drawdown

Largest peak-to-trough decline

-33.37%

-16.47%

-16.90%

Max Drawdown (1Y)

Largest decline over 1 year

-9.02%

-7.72%

-1.30%

Max Drawdown (5Y)

Largest decline over 5 years

-16.85%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-33.37%

—

—

Current Drawdown

Current decline from peak

-3.27%

-4.36%

+1.09%

Average Drawdown

Average peak-to-trough decline

-3.34%

-1.86%

-1.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.76%

2.13%

+1.63%

Volatility

SCHD vs. SPYI - Volatility Comparison

The current volatility for Schwab U.S. Dividend Equity ETF (SCHD) is 2.35%, while NEOS S&P 500 High Income ETF (SPYI) has a volatility of 5.04%. This indicates that SCHD experiences smaller price fluctuations and is considered to be less risky than SPYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SCHDSPYIDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.35%

5.04%

-2.69%

Volatility (6M)

Calculated over the trailing 6-month period

7.93%

8.29%

-0.36%

Volatility (1Y)

Calculated over the trailing 1-year period

15.69%

16.22%

-0.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.40%

13.11%

+1.29%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.69%

13.11%

+3.58%