SPDG vs. SCHD

Last updated Aug 2, 2026

SPDG (SPDR Portfolio S&P Sector Neutral Dividend ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both Dividend funds - SPDG tracks the S&P Sector-Neutral High Yield Dividend Aristocrats Index while SCHD tracks the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past year, SPDG returned 24.51% vs 31.54% for SCHD. Their correlation of 0.81 means they have usually moved in the same direction. SPDG charges 0.05%/yr vs 0.06%/yr for SCHD.

Performance

SPDG vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) 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, SPDG achieves a 14.23% return, which is significantly lower than SCHD's 24.03% return.

SPDG

• 1D: 0.34%
• 1M: -0.77%
• 6M: 7.57%
• YTD: 14.23%
• 1Y: 24.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.16%

SCHD

• 1D: 0.18%
• 1M: 3.33%
• 6M: 14.09%
• YTD: 24.03%
• 1Y: 31.54%
• 3Y*: 14.19%
• 5Y*: 9.54%
• 10Y*: 12.76%
• ALL TIME*: 13.39%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SCHD Schwab U.S. Dividend Equity ETF	$786.88M	$715.86M	$685.58M
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	$48.48K	$40.82K	$36.86K

SPDG vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	14.23%	11.66%	20.22%	8.09%
SCHD Schwab U.S. Dividend Equity ETF	24.03%	4.34%	11.66%	5.18%

Correlation

The correlation between SPDG and SCHD is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.73
Correlation (All Time) Calculated using the full available price history since Sep 12, 2023	0.81

The correlation between SPDG and SCHD has been stable across timeframes, ranging from 0.73 to 0.81 - a consistent structural relationship.

SPDG vs. SCHD - Sectors Allocation Comparison

Sectors	SPDG	SCHD
Technology	32.4%	12.7%
Financial Services	13.3%	9.9%
Healthcare	10.2%	20.8%
Consumer Cyclical	9.6%	7.7%
Industrials	9.0%	7.8%
Communication Services	8.6%	6.2%
Consumer Defensive	5.4%	20.6%
Energy	4.1%	14.1%
Utilities	2.6%	0.1%
Real Estate	2.4%	-
Basic Materials	2.2%	1.2%

Return for Risk

SPDG vs. SCHD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPDG

SPDG Risk / Return Rank: 80
SPDG Sharpe Ratio Rank: 82
SPDG Sortino Ratio Rank: 83
SPDG Omega Ratio Rank: 80
SPDG Calmar Ratio Rank: 79
SPDG Martin Ratio Rank: 75

SCHD

SCHD Risk / Return Rank: 95
SCHD Sharpe Ratio Rank: 96
SCHD Sortino Ratio Rank: 96
SCHD Omega Ratio Rank: 94
SCHD Calmar Ratio Rank: 96
SCHD Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPDG vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) 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.

	SPDG	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	1.90	2.81	-0.91
Sortino ratio: Return per unit of downside risk	2.73	4.37	-1.64
Omega ratio: Gain probability vs. loss probability	1.33	1.51	-0.17
Calmar ratio: Return relative to maximum drawdown	2.83	6.74	-3.90
Martin ratio: Return relative to average drawdown	9.27	17.01	-7.74

SPDG vs. SCHD - Sharpe Ratio Comparison

The current SPDG Sharpe Ratio is 1.90, which is lower than the SCHD Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of SPDG 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

SPDG vs. SCHD - Drawdown Comparison

The maximum SPDG drawdown since its inception was -15.67%, smaller than the maximum SCHD drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for SPDG and SCHD.

Drawdown Indicators

	SPDG	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-15.67%	-33.37%	+17.70%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-4.61%	-3.73%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.13%	—
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	-2.77%	-1.24%	-1.53%
Average Drawdown Average peak-to-trough decline	-2.19%	-3.30%	+1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	1.82%	+0.72%

Volatility

SPDG vs. SCHD - Volatility Comparison

The current volatility for SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) is 3.50%, while Schwab U.S. Dividend Equity ETF (SCHD) has a volatility of 4.11%. This indicates that SPDG 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

	SPDG	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	4.11%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	9.56%	8.11%	+1.45%
Volatility (1Y) Calculated over the trailing 1-year period	12.55%	11.13%	+1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.11%	14.39%	-0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.11%	16.72%	-2.61%

SPDG vs. SCHD - Expense Ratio Comparison

SPDG has a 0.05% 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

SPDG vs. SCHD - Dividend Comparison

SPDG's dividend yield for the trailing twelve months is around 2.72%, less than SCHD's 3.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHD Schwab U.S. Dividend Equity ETF	3.13%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	2.72%	2.87%	2.61%	0.90%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPDG and SCHD in my portfolio?

SPDG and SCHD have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPDG or SCHD?

SCHD has higher volatility (4.11%) compared to SPDG (3.50%). In terms of maximum drawdown, SPDG dropped -15.67% vs SCHD's -33.37%.

Which ETF is better, SPDG or SCHD?

On 1-year performance, SCHD leads with 31.54% vs 24.51% for SPDG. On fees, SPDG is cheaper at 0.05% per year. On volatility, SPDG has been the lower-risk option at 3.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPDG or SCHD?

Over the 1-year period, SCHD has performed better with a 31.54% return vs 24.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPDG or SCHD?

SPDG is cheaper with a 0.05% expense ratio, compared with 0.06% for SCHD.

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

SCHD has the higher dividend yield at 3.13%, compared with 2.72% for SPDG.

What is the main difference between SPDG and SCHD?

SPDG tracks S&P Sector-Neutral High Yield Dividend Aristocrats Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: State Street and Charles Schwab. Their fees differ too: 0.05% for SPDG and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.81 vs 1.90), 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.