SPGP vs. SCHD

Last updated Aug 2, 2026

SPGP (Invesco S&P 500 GARP ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - SPGP is a Multi-factor fund tracking the S&P 500 GARP 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, SPGP returned 15.12%/yr vs 12.76%/yr for SCHD. Their 0.77 correlation means they have sometimes moved together and sometimes differently. SPGP charges 0.36%/yr vs 0.06%/yr for SCHD.

Performance

SPGP vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 GARP ETF (SPGP) 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, SPGP achieves a 10.71% return, which is significantly lower than SCHD's 24.03% return. Over the past 10 years, SPGP has outperformed SCHD with an annualized return of 15.12%, while SCHD has yielded a comparatively lower 12.76% annualized return.

SPGP

• 1D: 0.01%
• 1M: 0.78%
• 6M: 9.37%
• YTD: 10.71%
• 1Y: 17.66%
• 3Y*: 10.71%
• 5Y*: 8.08%
• 10Y*: 15.12%
• ALL TIME*: 14.46%

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
SPGP Invesco S&P 500 GARP ETF	$11.85M	$11.53M	$9.19M

SPGP vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPGP Invesco S&P 500 GARP ETF	10.71%	9.80%	8.48%	20.29%	-13.83%	35.72%	15.92%	39.16%	1.68%	36.24%
SCHD Schwab U.S. Dividend Equity ETF	24.03%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between SPGP and SCHD is 0.46, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.46
Correlation (3Y) Balances recent behavior with more history.	0.69
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (10Y) Provides a long-term view across more market conditions.	0.79
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.77

Over the past year, the correlation between SPGP and SCHD has dropped to 0.46 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.

SPGP vs. SCHD - Sectors Allocation Comparison

Sectors	SPGP	SCHD
Financial Services	30.5%	9.9%
Technology	22.6%	12.7%
Consumer Cyclical	12.8%	7.7%
Industrials	10.0%	7.8%
Healthcare	9.8%	20.8%
Communication Services	6.7%	6.2%
Real Estate	2.9%	-
Utilities	2.7%	0.1%
Basic Materials	1.6%	1.2%
Energy	1.2%	14.1%
Consumer Defensive	1.0%	20.6%

Return for Risk

SPGP vs. SCHD — Risk / Return Rank

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

SPGP

SPGP Risk / Return Rank: 42
SPGP Sharpe Ratio Rank: 41
SPGP Sortino Ratio Rank: 42
SPGP Omega Ratio Rank: 39
SPGP Calmar Ratio Rank: 41
SPGP Martin Ratio Rank: 48

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.

SPGP vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 GARP ETF (SPGP) 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.

	SPGP	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	1.02	2.81	-1.79
Sortino ratio: Return per unit of downside risk	1.55	4.37	-2.82
Omega ratio: Gain probability vs. loss probability	1.19	1.51	-0.32
Calmar ratio: Return relative to maximum drawdown	1.45	6.74	-5.29
Martin ratio: Return relative to average drawdown	5.55	17.01	-11.47

SPGP vs. SCHD - Sharpe Ratio Comparison

The current SPGP Sharpe Ratio is 1.02, which is lower than the SCHD Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of SPGP 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

SPGP vs. SCHD - Drawdown Comparison

The maximum SPGP drawdown since its inception was -42.08%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for SPGP and SCHD.

Drawdown Indicators

	SPGP	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-42.08%	-33.37%	-8.71%
Max Drawdown (1Y) Largest decline over 1 year	-11.15%	-4.61%	-6.54%
Max Drawdown (3Y) Largest decline over 3 years	-22.87%	-16.13%	-6.74%
Max Drawdown (5Y) Largest decline over 5 years	-22.87%	-16.85%	-6.02%
Max Drawdown (10Y) Largest decline over 10 years	-42.08%	-33.37%	-8.71%
Current Drawdown Current decline from peak	-0.44%	-1.24%	+0.80%
Average Drawdown Average peak-to-trough decline	-4.32%	-3.30%	-1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	1.82%	+1.09%

Volatility

SPGP vs. SCHD - Volatility Comparison

The current volatility for Invesco S&P 500 GARP ETF (SPGP) is 3.74%, while Schwab U.S. Dividend Equity ETF (SCHD) has a volatility of 4.11%. This indicates that SPGP 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

	SPGP	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.74%	4.11%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	12.26%	8.11%	+4.15%
Volatility (1Y) Calculated over the trailing 1-year period	15.82%	11.13%	+4.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.64%	14.39%	+4.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.21%	16.72%	+4.49%

SPGP vs. SCHD - Expense Ratio Comparison

SPGP has a 0.36% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

SPGP vs. SCHD - Dividend Comparison

SPGP's dividend yield for the trailing twelve months is around 0.80%, 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%
SPGP Invesco S&P 500 GARP ETF	0.80%	1.04%	1.38%	1.24%	1.22%	0.69%	1.10%	0.86%	0.95%	0.68%	0.89%	1.12%

Frequently Asked Questions

Can I hold both SPGP and SCHD in my portfolio?

SPGP and SCHD have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPGP or SCHD?

SCHD has higher volatility (4.11%) compared to SPGP (3.74%). In terms of maximum drawdown, SPGP dropped -42.08% vs SCHD's -33.37%.

Which ETF is better, SPGP or SCHD?

On 10-year performance, SPGP leads with 15.12% vs 12.76% for SCHD. On fees, SCHD is cheaper at 0.06% per year. On volatility, SPGP has been the lower-risk option at 3.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPGP or SCHD?

Over the 10-year period, SPGP has performed better with a 15.12% return vs 12.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPGP or SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.36% for SPGP.

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

SCHD has the higher dividend yield at 3.13%, compared with 0.80% for SPGP.

What is the main difference between SPGP and SCHD?

SPGP is categorized as Multi-factor, while SCHD is Dividend. SPGP tracks S&P 500 GARP Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 0.36% for SPGP and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.81 vs 1.02), 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.