SCHV vs. SCHD

Last updated Jun 20, 2026

SCHV (Schwab U.S. Large-Cap Value ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - SCHV is a Large Cap Value Equities fund tracking the Dow Jones U.S. Large-Cap Value Total Stock Market Index, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 10 years, SCHV returned 11.71%/yr vs 12.48%/yr for SCHD. Their correlation of 0.93 suggests significant overlap in exposure. SCHV charges 0.04%/yr vs 0.06%/yr for SCHD.

Performance

SCHV vs. SCHD - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with SCHV having a 17.26% return and SCHD slightly lower at 17.13%. Over the past 10 years, SCHV has underperformed SCHD with an annualized return of 11.71%, while SCHD has yielded a comparatively higher 12.48% annualized return.

SCHV

• 1D: 0.55%
• 1M: 5.27%
• YTD: 17.26%
• 6M: 17.38%
• 1Y: 30.28%
• 3Y*: 18.21%
• 5Y*: 11.76%
• 10Y*: 11.71%

SCHD

• 1D: -0.22%
• 1M: -0.81%
• YTD: 17.13%
• 6M: 17.00%
• 1Y: 24.22%
• 3Y*: 13.38%
• 5Y*: 9.07%
• 10Y*: 12.48%

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

SCHV vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHV Schwab U.S. Large-Cap Value ETF	17.26%	16.02%	14.13%	8.93%	-7.65%	25.58%	2.64%	25.92%	-7.30%	16.56%
SCHD Schwab U.S. Dividend Equity ETF	17.13%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between SCHV and SCHD is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.93

The correlation between SCHV and SCHD shifts across timeframes, from 0.75 (1 year) to 0.93 (all time), reflecting how their relationship changes across market environments.

SCHV vs. SCHD - Sectors Allocation Comparison

Sectors	SCHV	SCHD
Technology	22.5%	19.4%
Financial Services	18.6%	9.1%
Industrials	13.6%	7.4%
Healthcare	10.9%	18.4%
Consumer Defensive	8.3%	18.5%
Consumer Cyclical	6.6%	6.7%
Energy	6.4%	14.6%
Utilities	4.2%	0.0%
Real Estate	3.9%	-
Basic Materials	2.7%	1.2%
Communication Services	2.4%	6.0%

Return for Risk

SCHV vs. SCHD — Risk / Return Rank

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

SCHV

SCHV Risk / Return Rank: 87
SCHV Sharpe Ratio Rank: 88
SCHV Sortino Ratio Rank: 90
SCHV Omega Ratio Rank: 86
SCHV Calmar Ratio Rank: 85
SCHV Martin Ratio Rank: 88

SCHD

SCHD Risk / Return Rank: 77
SCHD Sharpe Ratio Rank: 72
SCHD Sortino Ratio Rank: 81
SCHD Omega Ratio Rank: 70
SCHD Calmar Ratio Rank: 90
SCHD Martin Ratio Rank: 72

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.

SCHV vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Large-Cap Value ETF (SCHV) 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.

	SCHV	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	2.76	2.20	+0.56
Sortino ratio: Return per unit of downside risk	3.88	3.36	+0.52
Omega ratio: Gain probability vs. loss probability	1.49	1.39	+0.10
Calmar ratio: Return relative to maximum drawdown	4.45	5.27	-0.82
Martin ratio: Return relative to average drawdown	17.89	12.86	+5.04

SCHV vs. SCHD - Sharpe Ratio Comparison

The current SCHV Sharpe Ratio is 2.76, which is comparable to the SCHD Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of SCHV 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

SCHV vs. SCHD - Drawdown Comparison

The maximum SCHV drawdown since its inception was -37.08%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for SCHV and SCHD.

Drawdown Indicators

	SCHV	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-37.08%	-33.37%	-3.71%
Max Drawdown (1Y) Largest decline over 1 year	-6.83%	-4.61%	-2.22%
Max Drawdown (3Y) Largest decline over 3 years	-15.26%	-16.13%	+0.87%
Max Drawdown (5Y) Largest decline over 5 years	-19.78%	-16.85%	-2.93%
Max Drawdown (10Y) Largest decline over 10 years	-37.08%	-33.37%	-3.71%
Current Drawdown Current decline from peak	-0.58%	-2.95%	+2.37%
Average Drawdown Average peak-to-trough decline	-3.82%	-3.31%	-0.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	1.89%	-0.19%

Volatility

SCHV vs. SCHD - Volatility Comparison

Schwab U.S. Large-Cap Value ETF (SCHV) has a higher volatility of 3.98% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 3.58%. This indicates that SCHV's price experiences larger fluctuations and is considered to be riskier than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHV	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	3.58%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	8.62%	7.75%	+0.87%
Volatility (1Y) Calculated over the trailing 1-year period	11.03%	11.07%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.55%	14.38%	+0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.96%	16.73%	+0.23%

SCHV vs. SCHD - Expense Ratio Comparison

SCHV has a 0.04% expense ratio, which is lower than SCHD's 0.06% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SCHV vs. SCHD - Dividend Comparison

SCHV's dividend yield for the trailing twelve months is around 1.73%, less than SCHD's 3.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHD Schwab U.S. Dividend Equity ETF	3.31%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%
SCHV Schwab U.S. Large-Cap Value ETF	1.73%	2.02%	2.25%	2.42%	2.37%	1.93%	3.03%	3.02%	3.05%	2.37%	2.65%	2.69%

Frequently Asked Questions

Can I hold both SCHV and SCHD in my portfolio?

SCHV and SCHD have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHV or SCHD?

SCHV has higher volatility (3.98%) compared to SCHD (3.58%). In terms of maximum drawdown, SCHV dropped -37.08% vs SCHD's -33.37%.

Which ETF is better, SCHV or SCHD?

On 10-year performance, SCHD leads with 12.48% vs 11.71% for SCHV. On fees, SCHV is cheaper at 0.04% per year. On volatility, SCHD has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHV or SCHD?

Over the 10-year period, SCHD has performed better with a 12.48% return vs 11.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHV or SCHD?

SCHV is cheaper with a 0.04% expense ratio, compared with 0.06% for SCHD.

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

SCHD has the higher dividend yield at 3.31%, compared with 1.73% for SCHV.

What is the main difference between SCHV and SCHD?

SCHV is categorized as Large Cap Value Equities, while SCHD is Dividend. SCHV tracks Dow Jones U.S. Large-Cap Value Total Stock Market Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. Their fees differ too: 0.04% for SCHV and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHV currently has the higher Sharpe Ratio (2.76 vs 2.20), 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.