VHY.AX vs. SCHD

Last updated Jul 16, 2026

VHY.AX (Vanguard Australian Shares High Yield ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both Dividend funds - VHY.AX tracks the FTSE Australia High Dividend Yield Index while SCHD tracks the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 10 years, VHY.AX returned 9.28%/yr vs 13.17%/yr for SCHD. At a 0.05 correlation, their price movements are largely independent. VHY.AX charges 0.25%/yr vs 0.06%/yr for SCHD.

Performance

VHY.AX vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Vanguard Australian Shares High Yield ETF (VHY.AX) and Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VHY.AX is traded in AUD, while SCHD is traded in USD. To make them comparable, the SCHD values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VHY.AX achieves a 8.22% return, which is significantly lower than SCHD's 14.38% return. Over the past 10 years, VHY.AX has underperformed SCHD with an annualized return of 9.28%, while SCHD has yielded a comparatively higher 13.17% annualized return.

VHY.AX

• 1D: 0.20%
• 1M: -0.91%
• 6M: 9.04%
• YTD: 8.22%
• 1Y: 15.11%
• 3Y*: 12.91%
• 5Y*: 9.87%
• 10Y*: 9.28%

SCHD

• 1D: 0.18%
• 1M: 1.04%
• 6M: 8.20%
• YTD: 14.38%
• 1Y: 16.23%
• 3Y*: 13.03%
• 5Y*: 10.22%
• 10Y*: 13.17%

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

VHY.AX vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VHY.AX Vanguard Australian Shares High Yield ETF	8.22%	14.77%	9.04%	9.83%	7.71%	16.73%	1.71%	20.44%	-8.52%	7.84%
SCHD Schwab U.S. Dividend Equity ETF	14.38%	-3.23%	22.89%	4.62%	3.14%	37.49%	4.93%	27.88%	4.56%	11.64%

Correlation

The correlation between VHY.AX and SCHD is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	-0.01
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.05

The correlation between VHY.AX and SCHD shifts across timeframes, from -0.06 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VHY.AX vs. SCHD — Risk / Return Rank

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

VHY.AX

VHY.AX Risk / Return Rank: 58
VHY.AX Sharpe Ratio Rank: 53
VHY.AX Sortino Ratio Rank: 55
VHY.AX Omega Ratio Rank: 52
VHY.AX Calmar Ratio Rank: 77
VHY.AX Martin Ratio Rank: 53

SCHD

SCHD Risk / Return Rank: 89
SCHD Sharpe Ratio Rank: 88
SCHD Sortino Ratio Rank: 92
SCHD Omega Ratio Rank: 85
SCHD Calmar Ratio Rank: 94
SCHD Martin Ratio Rank: 83

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.

VHY.AX vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Australian Shares High Yield ETF (VHY.AX) 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.

	VHY.AX	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.39	+0.10
Sortino ratio: Return per unit of downside risk	2.15	2.16	-0.01
Omega ratio: Gain probability vs. loss probability	1.27	1.24	+0.03
Calmar ratio: Return relative to maximum drawdown	3.18	3.20	-0.02
Martin ratio: Return relative to average drawdown	7.34	7.46	-0.12

VHY.AX vs. SCHD - Sharpe Ratio Comparison

The current VHY.AX Sharpe Ratio is 1.49, which is comparable to the SCHD Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of VHY.AX 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

VHY.AX vs. SCHD - Drawdown Comparison

The maximum VHY.AX drawdown since its inception was -35.54%, which is greater than SCHD's maximum drawdown of -23.52%. Use the drawdown chart below to compare losses from any high point for VHY.AX and SCHD.

Drawdown Indicators

	VHY.AX	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-35.54%	-23.52%	-12.02%
Max Drawdown (1Y) Largest decline over 1 year	-4.84%	-5.09%	+0.25%
Max Drawdown (3Y) Largest decline over 3 years	-11.68%	-14.30%	+2.62%
Max Drawdown (5Y) Largest decline over 5 years	-14.41%	-14.30%	-0.11%
Max Drawdown (10Y) Largest decline over 10 years	-35.54%	-23.52%	-12.02%
Current Drawdown Current decline from peak	-1.80%	-1.72%	-0.08%
Average Drawdown Average peak-to-trough decline	-4.87%	-3.25%	-1.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	2.18%	-0.04%

Volatility

VHY.AX vs. SCHD - Volatility Comparison

The current volatility for Vanguard Australian Shares High Yield ETF (VHY.AX) is 2.23%, while Schwab U.S. Dividend Equity ETF (SCHD) has a volatility of 4.32%. This indicates that VHY.AX 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

	VHY.AX	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.23%	4.32%	-2.09%
Volatility (6M) Calculated over the trailing 6-month period	8.14%	9.26%	-1.12%
Volatility (1Y) Calculated over the trailing 1-year period	10.37%	11.78%	-1.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.70%	13.36%	-0.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.30%	15.69%	-1.39%

VHY.AX vs. SCHD - Expense Ratio Comparison

VHY.AX has a 0.25% expense ratio, which is higher than SCHD's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VHY.AX vs. SCHD - Dividend Comparison

VHY.AX's dividend yield for the trailing twelve months is around 2.76%, less than SCHD's 3.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHD Schwab U.S. Dividend Equity ETF	3.24%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%
VHY.AX Vanguard Australian Shares High Yield ETF	2.76%	8.37%	2.92%	3.73%	5.02%	4.84%	3.54%	5.35%	7.81%	5.69%	3.84%	6.40%

Frequently Asked Questions

Can I hold both VHY.AX and SCHD in my portfolio?

VHY.AX and SCHD have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VHY.AX or SCHD?

On fees, SCHD is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VHY.AX or SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.25% for VHY.AX.

What is the main difference between VHY.AX and SCHD?

VHY.AX tracks FTSE Australia High Dividend Yield Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: Vanguard and Charles Schwab. Their fees differ too: 0.25% for VHY.AX and 0.06% for SCHD.