# How Schwab U.S. Dividend Equity ETF (SCHD) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/schd
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on SCHD alone. It places SCHD (Schwab U.S. Dividend Equity ETF) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where SCHD stands in the market, and of the alternatives worth a closer look.

Period covered: SCHD's full trading record, from October 2011 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** Over the past 6 months, SCHD rose 13.6%, ahead of 93% of the ETFs with at least $100 million in assets. Both SCHD and the S&P 500 are within a few percent of a record high.
- **Fund or market?:** SCHD rose 6.8% over the past 3 months, 5.1 points ahead of the US dividend equity ETF VYM (Vanguard High Dividend Yield ETF), which rose 1.7%. The S&P 500 rose 3.9%. Last month cut against the tape: SCHD rose 3.7% while the S&P 500 fell 0.6%.
- **Long term:** SCHD turned $10,000 into $35,200 over the past decade, against $42,100 in the S&P 500. On the flip side, its 10-year return of 252% puts it ahead of 83% of the ETFs with at least $100 million in assets with that much history. The S&P 500 returned 321%.
- **In a crash:** SCHD has tended to fall less than the S&P 500 in crashes, about 84% of the index's decline. In the 2022 bear market, SCHD fell 16.9%, against 24.5% for the S&P 500. That was more than SDY (State Street SPDR S&P Dividend ETF, 15.2%) but less than VIG (Vanguard Dividend Appreciation ETF, 20.4%).
- **Diversification:** SCHD fell in 19 of the 22 months the S&P 500 fell over the past 5 years: it usually fell with it. Against the S&P 500, SCHD has a correlation of 0.71 over 5 years, less closely than 56% of ETFs with at least $100 million in assets. Next to an index fund it is some diversification, but not a hedge.
- **Better options**
  - **Popular alternatives:** HDV (iShares Core High Dividend ETF) and DLN (WisdomTree U.S. LargeCap Dividend Fund) earned more than SCHD with less volatility over the past 5 years. HDV returned 12.9% a year at 13.0% volatility, against 9.7% a year at 14.3%.
  - **Nearby categories and themes:** MGV (Vanguard Morningstar Mega Cap Value ETF, US large-cap value) and DIVO (Amplify CWP Enhanced Dividend Income ETF, equity income) earned more than SCHD with less volatility over the past 5 years. MGV returned 12.6% a year at 13.4% volatility, against 9.7% a year at 14.3%.
  - **Whole market:** Few investments have done better on both counts: only 14 of the 3,633 stocks and funds worth at least $500 million earned more than SCHD with less volatility over the past 5 years, among them HDV (iShares Core High Dividend ETF), MGV (Vanguard Morningstar Mega Cap Value ETF) and DIVO (Amplify CWP Enhanced Dividend Income ETF).

## How much would $10,000 in SCHD have grown?

This chart tracks a hypothetical $10,000 investment in SCHD over the past 14 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of SCHD over the same span and SCHD's popular alternatives, among those that traded for the entire period.

- $10,000 invested in SCHD at the end of September 2012 would have grown to $52,723 by September 2026, less than the $67,346 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of SCHD, and NVDA finished highest, at $7,517,992.

## SCHD at a glance

This section summarizes the key facts about the fund, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout.

- SCHD is trading within 1% of its all-time high.
- SCHD's deepest decline since it began trading in 2011 was 33.4%, from January to March 2020. It took six months from the low to climb back to its old high.
- Over 14 full calendar years, SCHD's best was 2013, when it returned 32.8%, and its worst was 2018, when it lost 5.6%. It lost money in three of those years.

- Type: ETF, Dividend & Income (Asset Management - Income)
- Trading since: October 20, 2011
- Assets: $115B
- Expense ratio: 0.06%
- Volatility (5 years): 14.3%; Sharpe ratio: 0.72
- Worst decline ever: −33.4%, from January 23, 2020 to March 23, 2020; back at its high by September 2, 2020

| Period | SCHD total return |
| --- | --- |
| 1 month | +3.7% |
| 3 months | +6.8% |
| 6 months | +13.6% |
| year to date | +28.2% |
| 1 year | +33.0% |
| 3 years | +67.5% |
| 5 years | +59.1% |
| 10 years | +252% |

## SCHD against the whole market

Where SCHD ranks among every stock and fund, and what across the market has done better.

### How does SCHD rank among all ETFs?

This section ranks SCHD on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history.

- SCHD's 1-year return ranks in the top 6% of the 2,485 ETFs with at least $100 million in assets with 1 year of history.

| Measure | SCHD | Rank |
| --- | --- | --- |
| 1-year return | +33.0% | 140 of 2,485 (top 6%) |
| 3-year return | +67.5% | 828 of 1,949 (top 43%) |
| 5-year return | +59.1% | 530 of 1,560 (top 34%) |
| 10-year return | +252% | 161 of 958 (top 17%) |
| Volatility, 5 years | 14.3% | 569 of 1,560 (top 37%) |
| Sharpe ratio, 5 years | 0.72 | 481 of 1,560 (top 31%) |
| Worst decline, past 10 years | −33.4% | 267 of 951 (top 29%) |

### What has beaten SCHD on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer).

- 14 ETFs worth at least $500 million sit in the green region: each earned more than SCHD over the past 5 years with smaller price swings. That is fewer than 1% of the 3,633 screened. Few investments beat it on both counts.
- Among those with at least half SCHD's swings, LVHI has the best return for its risk: 17.0% a year at 11.1% volatility, 23% less than SCHD's 14.3%, and a Sharpe ratio (return above cash per unit of volatility) of 1.48 against 0.72 for SCHD.
- Among SCHD's popular alternatives, HDV, DLN and DTD are in the region. HDV earned 12.9% a year against 9.7% a year for SCHD, at 13.0% volatility, 10% less than SCHD's 14.3%.

### Is there a better investment than SCHD?

The table below lists investments that beat SCHD over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes, and, for funds, the same exposure at a lower expense ratio.

- Among SCHD's popular alternatives, HDV and DLN earned more than SCHD with less volatility over the past 5 years. HDV returned 12.9% a year at 13.0% volatility, against 9.7% a year at 14.3%.
- Looking beyond its popular alternatives, MGV (US large-cap value) and DIVO (equity income) earned more than SCHD with less volatility over the past 5 years. MGV returned 12.6% a year at 13.4% volatility, against 9.7% a year at 14.3%.
- Few investments have done better on both counts: only 14 of the 3,633 stocks and funds worth at least $500 million earned more than SCHD with less volatility over the past 5 years, among them HDV, MGV and DIVO.

The 11 strongest of 14 investments that beat SCHD over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with SCHD | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| SCHD: Schwab U.S. Dividend Equity ETF (this page) |  | +9.7% | 14.3% | 0.72 | −33.4% | +252% |  |  |
| FJAN: FT Vest U.S. Equity Buffer ETF - January | Multi-Asset | +11.1% | 10.5% | 1.05 | −13.6% | — | 0.66 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| HDV: iShares Core High Dividend ETF | US Dividend Equity | +12.9% | 13.0% | 1.00 | −37.0% | +172% | 0.93 | Higher return, lower volatility; Higher return in most periods |
| SIXA: ETC 6 Meridian Mega Cap Equity ETF | Broad Market | +12.8% | 12.7% | 1.01 | −18.4% | — | 0.90 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | International Equity | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.79 | Higher return, lower volatility |
| GCOW: Pacer Global Cash Cows Dividend ETF | International | +14.1% | 13.6% | 1.04 | −37.6% | +168% | 0.82 | Higher return, lower volatility |
| MGV: Vanguard Morningstar Mega Cap Value ETF | US Large-Cap Value | +12.6% | 13.4% | 0.95 | −35.4% | +244% | 0.91 | Higher return, lower volatility |
| DIVO: Amplify CWP Enhanced Dividend Income ETF | Equity Income | +11.1% | 11.9% | 0.95 | −30.0% | — | 0.87 | Higher return, lower volatility |
| DLN: WisdomTree U.S. LargeCap Dividend Fund | US Dividend Equity | +12.2% | 13.2% | 0.95 | −35.8% | +231% | 0.92 | Higher return, lower volatility |
| DDWM: WisdomTree Dynamic International Equity Fund | International | +12.3% | 13.4% | 0.94 | −35.0% | +149% | 0.75 | Higher return, lower volatility |
| AUSF: Global X - Adaptive U.S. Factor ETF | International | +13.2% | 13.6% | 0.99 | −44.2% | — | 0.91 | Higher return, lower volatility |
| DJD: Invesco Dow Jones Industrial Average Dividend ETF | Dividend & Income | +11.8% | 13.3% | 0.91 | −34.7% | +227% | 0.92 | Higher return, lower volatility |

## SCHD against its popular alternatives

The investments people most often weigh against SCHD, compared period by period and year by year.

### How do SCHD's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings.

- Nine of the 23 popular alternatives, led by HDV, DLN and VTV, were both more rewarding and calmer than SCHD over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, SCHD returned 9.7% a year, less than the S&P 500's 12.7%, with lower volatility (14.3% against 17.1%).

### Has SCHD consistently beaten its popular alternatives?

This section compares SCHD with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- Only one of the 23 popular alternatives, HDV, outperformed SCHD in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- DGRW, VIG and SCHY earned more for the risk they took than SCHD (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
- QUAL outperformed SCHD over all three long-term periods but in none of the five short-term ones, so SCHD has had the better of it lately.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of SCHD | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| SCHD: Schwab U.S. Dividend Equity ETF (this page) | +33.0% | +67.5% | +59.1% | +252% |  |  | 0.72 |
| HDV: iShares Core High Dividend ETF | +26.8% | +71.8% | +83.3% | +172% | 3/5 short-term, 2/3 long-term | consistent | 1.00 |
| RDVY: First Trust Rising Dividend Achievers ETF | +20.0% | +87.7% | +71.0% | +322% | 0/5 short-term, 3/3 long-term |  | 0.67 |
| [QUAL](https://easycompare.io/research/qual): iShares MSCI USA Quality Factor ETF | +16.4% | +76.9% | +71.5% | +293% | 0/5 short-term, 3/3 long-term |  | 0.71 |
| [DGRO](https://easycompare.io/research/dgro): iShares Core Dividend Growth ETF | +18.1% | +74.2% | +68.0% | +267% | 0/5 short-term, 3/3 long-term |  | 0.83 |
| DGRW: WisdomTree U.S. Quality Dividend Growth Fund | +12.8% | +65.2% | +74.6% | +276% | 0/5 short-term, 2/3 long-term |  | 0.87 |
| [VTV](https://easycompare.io/research/vtv): Vanguard Morningstar Value ETF | +22.5% | +77.9% | +76.6% | +235% | 0/5 short-term, 2/3 long-term |  | 0.90 |
| DLN: WisdomTree U.S. LargeCap Dividend Fund | +16.9% | +75.2% | +78.2% | +231% | 0/5 short-term, 2/3 long-term |  | 0.95 |
| DTD: WisdomTree U.S. Total Dividend Fund | +16.6% | +73.0% | +74.7% | +217% | 0/5 short-term, 2/3 long-term |  | 0.90 |
| [VYM](https://easycompare.io/research/vym): Vanguard High Dividend Yield ETF | +16.9% | +72.8% | +71.1% | +208% | 0/5 short-term, 2/3 long-term |  | 0.85 |
| FDL: First Trust Morningstar Dividend Leaders Index Fund | +25.9% | +82.9% | +91.8% | +199% | 0/5 short-term, 2/3 long-term |  | 0.98 |
| DHS: WisdomTree U.S. High Dividend Fund | +19.9% | +70.3% | +76.2% | +156% | 0/5 short-term, 2/3 long-term |  | 0.89 |
| [VIG](https://easycompare.io/research/vig): Vanguard Dividend Appreciation ETF | +13.7% | +67.0% | +64.0% | +258% | 0/5 short-term, 1/3 long-term |  | 0.78 |
| DVY: iShares Select Dividend ETF | +16.9% | +69.9% | +58.4% | +172% | 0/5 short-term, 1/3 long-term |  | 0.69 |
| SCHY: Schwab International Dividend Equity ETF | +20.2% | +69.8% | +57.3% | — | 0/5 short-term, 1/3 long-term |  | 0.75 |
| SDY: State Street SPDR S&P Dividend ETF | +14.3% | +51.0% | +44.0% | +157% | 1/5 short-term, 0/3 long-term |  | 0.59 |
| NOBL: ProShares - S&P 500 Dividend Aristocrats ETF | +14.1% | +43.3% | +37.3% | +172% | 0/5 short-term, 0/3 long-term |  | 0.51 |
| DON: WisdomTree U.S. MidCap Dividend Fund | +11.6% | +51.5% | +43.7% | +139% | 0/5 short-term, 0/3 long-term |  | 0.51 |
| FVD: First Trust Value Line Dividend Index Fund | +10.2% | +45.3% | +34.3% | +134% | 0/5 short-term, 0/3 long-term |  | 0.53 |
| SPYD: State Street SPDR Portfolio S&P 500 High Dividend ETF | +14.1% | +61.6% | +44.4% | +125% | 0/5 short-term, 0/3 long-term |  | 0.54 |
| DES: WisdomTree U.S. SmallCap Dividend Fund | +18.1% | +54.4% | +38.2% | +105% | 0/5 short-term, 0/3 long-term |  | 0.43 |
| SPHD: Invesco S&P 500 High Dividend Low Volatility ETF | +9.2% | +51.0% | +42.3% | +103% | 0/5 short-term, 0/3 long-term |  | 0.57 |
| [AGG](https://easycompare.io/research/agg): iShares Core U.S. Aggregate Bond ETF | −1.9% | +16.2% | −1.5% | +13.3% | 0/5 short-term, 0/3 long-term |  | -0.02 |
| [JEPI](https://easycompare.io/research/jepi): JPMorgan Equity Premium Income ETF | +8.7% | +38.1% | +43.3% | — | 0/5 short-term, 0/3 long-term |  | 0.71 |

### How did SCHD do year by year?

This table shows each investment's total return in every full calendar year since 2012, along with where SCHD ranked among its popular alternatives each year.

- SCHD finished ahead of the S&P 500 in three of its 14 full calendar years, and behind it in each of the last three.
- Among its popular alternatives, RDVY came out ahead of SCHD most often, in seven of the 11 years both traded.
- Ranked against its popular alternatives each year, SCHD finished in the top quarter in three of 14 years and in the bottom quarter in two. In 2025, it ranked 21 of 24.

| Year | SCHD | SPY |
| --- | --- | --- |
| 2025 | +4.3% | +17.7% |
| 2024 | +11.7% | +24.9% |
| 2023 | +4.5% | +26.2% |
| 2022 | −3.3% | −18.2% |
| 2021 | +29.8% | +28.7% |
| 2020 | +15.0% | +18.3% |
| 2019 | +27.3% | +31.2% |
| 2018 | −5.6% | −4.6% |
| 2017 | +20.8% | +21.7% |
| 2016 | +16.2% | +12.0% |

## Risk and diversification

How SCHD has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

### What were SCHD's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In three of SCHD's five worst declines, it fell less than the S&P 500 did over the same dates.
- The longest climb back to a previous high took 15 months, after SCHD fell 16.9% from January to September 2022.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −33.4% | January 23, 2020 | March 23, 2020 | September 2, 2020 | −32.4% | Covid crash |
| −17.1% | September 21, 2018 | December 24, 2018 | April 4, 2019 | −19.3% | late-2018 sell-off |
| −16.9% | January 11, 2022 | September 30, 2022 | December 27, 2023 | −23.1% | 2022 bear market |
| −16.1% | November 29, 2024 | April 8, 2025 | January 8, 2026 | −17.1% |  |
| −14.1% | March 2, 2015 | August 25, 2015 | March 16, 2016 | −10.8% | 2015 China and oil sell-off |

### How did SCHD do in stock market crashes?

This section measures how far SCHD, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- SCHD fell less than the S&P 500 in four of the six crashes it has traded through. The clearest case was the 2022 bear market, when SCHD fell 16.9% and the S&P 500 fell 24.5%.
- Among its popular alternatives, AGG held up best, falling less than SCHD in all six crashes they both traded through.
- SCHD began trading after the 2008 financial crisis, but 13 of its popular alternatives lived through it. The mildest fall among them was AGG's 12.8%, against 55.2% for the S&P 500.

| Crash | Dates | SCHD fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | not trading | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | not trading | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | not trading | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −10.5% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −6.5% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −17.1% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −32.8% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −16.9% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −4.5% | −3.4% |

### How closely does SCHD move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell.

- HDV took just 80% of the S&P 500's losses, against 91% for SCHD, while still keeping 71% of its gains.
- Over the past 10 years, SCHD captured 86% of the S&P 500's gains in rising months and 91% of its losses in falling months, with a beta of 0.82. Its share of the market's losses was slightly larger than its share of the gains.
- Four of the 21 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than SCHD's 0.95, led by DGRW, VIG and DGRO.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| SCHD: Schwab U.S. Dividend Equity ETF (this page) | 86.0% | 91.0% | 0.82 |
| HDV: iShares Core High Dividend ETF | 71.0% | 80.0% | 0.71 |
| RDVY: First Trust Rising Dividend Achievers ETF | 107% | 112% | 1.10 |
| [QUAL](https://easycompare.io/research/qual): iShares MSCI USA Quality Factor ETF | 98.0% | 102% | 1.00 |
| [DGRO](https://easycompare.io/research/dgro): iShares Core Dividend Growth ETF | 88.0% | 90.0% | 0.86 |
| DGRW: WisdomTree U.S. Quality Dividend Growth Fund | 91.0% | 93.0% | 0.88 |
| [VTV](https://easycompare.io/research/vtv): Vanguard Morningstar Value ETF | 86.0% | 91.0% | 0.86 |
| DLN: WisdomTree U.S. LargeCap Dividend Fund | 85.0% | 89.0% | 0.85 |
| DTD: WisdomTree U.S. Total Dividend Fund | 85.0% | 92.0% | 0.87 |
| [VYM](https://easycompare.io/research/vym): Vanguard High Dividend Yield ETF | 81.0% | 88.0% | 0.82 |
| FDL: First Trust Morningstar Dividend Leaders Index Fund | 79.0% | 86.0% | 0.77 |
| DHS: WisdomTree U.S. High Dividend Fund | 71.0% | 81.0% | 0.74 |
| [VIG](https://easycompare.io/research/vig): Vanguard Dividend Appreciation ETF | 85.0% | 86.0% | 0.84 |
| DVY: iShares Select Dividend ETF | 76.0% | 88.0% | 0.81 |
| SDY: State Street SPDR S&P Dividend ETF | 75.0% | 91.0% | 0.80 |
| NOBL: ProShares - S&P 500 Dividend Aristocrats ETF | 80.0% | 97.0% | 0.84 |
| DON: WisdomTree U.S. MidCap Dividend Fund | 84.0% | 110% | 1.01 |
| FVD: First Trust Value Line Dividend Index Fund | 68.0% | 82.0% | 0.72 |
| SPYD: State Street SPDR Portfolio S&P 500 High Dividend ETF | 78.0% | 103% | 0.91 |
| DES: WisdomTree U.S. SmallCap Dividend Fund | 84.0% | 119% | 1.05 |
| SPHD: Invesco S&P 500 High Dividend Low Volatility ETF | 67.0% | 90.0% | 0.78 |
| [AGG](https://easycompare.io/research/agg): iShares Core U.S. Aggregate Bond ETF | 12.0% | 17.0% | 0.14 |

### What diversifies SCHD?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in SCHD into DBMF would have cut the portfolio's volatility by 21% over the past 5 years and raised its annual return (+9.4% for SCHD alone, +10.0% for the mix).
- FIX made money in three of the three calendar years in which SCHD lost money.
- Among large ETFs, DXJ, SMH and GLD have moved largely independently of SCHD over the past 5 years, with correlations of 0.45 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with SCHD | 5Y return | Volatility | Sharpe | Rose in SCHD's 3 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.45 | +225% | 19.1% | 1.34 | 2 of 3 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.36 | +323% | 36.9% | 0.97 | 0 of 3 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.31 | +126% | 18.9% | 0.96 | 0 of 3 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.49 | +136% | 20.8% | 0.93 | 0 of 3 |
| EWT: iShares MSCI Taiwan ETF | 0.42 | +153% | 24.2% | 0.89 | 0 of 3 |
| DBMF: iMGP DBi Managed Futures Strategy ETF | -0.18 | +59.7% | 12.4% | 0.82 | 1 of 3 |
| DBA: Invesco DB Agriculture Fund | 0.29 | +66.4% | 13.8% | 0.81 | 1 of 3 |
| GDX: VanEck Gold Miners ETF | 0.42 | +181% | 38.2% | 0.73 | 0 of 3 |

## Common questions

### What was SCHD's worst drawdown?

SCHD's deepest decline since it began trading in 2011 was 33.4%, from January to March 2020. It took six months from the low to climb back to its old high. Because SCHD launched in October 2011, that record does not include the dot-com bust, the 2008 financial crisis or two other sell-offs.

### What were SCHD's best and worst years?

Over 14 full calendar years, SCHD's best year was 2013, when it returned 32.8%. Its worst was 2018, with a return of -5.6%.

### Is there a better investment than SCHD?

Among SCHD's popular alternatives, HDV and DLN earned more than SCHD with less volatility over the past 5 years. HDV returned 12.9% a year at 13.0% volatility, against 9.7% a year at 14.3%. Looking beyond its popular alternatives, MGV (US large-cap value) and DIVO (equity income) earned more than SCHD with less volatility over the past 5 years. MGV returned 12.6% a year at 13.4% volatility, against 9.7% a year at 14.3%.

### Is SCHD more volatile than the S&P 500?

No. SCHD's volatility over the past 5 years was 14.3%, 84% of the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, SCHD's return lands within 14.3% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is SCHD's Sharpe ratio?

SCHD's Sharpe ratio over the past 5 years was 0.72, against 0.79 for the S&P 500, so SCHD earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

### How correlated is SCHD with the S&P 500?

Over the past 5 years, SCHD's monthly returns had a correlation of 0.71 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against SCHD instead: the lower it is, the more that option would diversify a SCHD holding.

### What are the best alternatives to SCHD?

Of the 23 popular alternatives we compared, one outperformed SCHD in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: HDV.

### Did SCHD outperform the S&P 500?

SCHD finished ahead of the S&P 500 (SPY) in three of 14 full calendar years. In 2025, it returned +4.3%, against +17.7% for the index.

### How did SCHD do in stock market crashes?

SCHD fell less than the S&P 500 (SPY) in four of the six major crashes it has traded through, and further in one. The clearest case was the 2022 bear market, when SCHD fell 16.9% and the S&P 500 fell 24.5%.

### What diversifies SCHD?

These had a low correlation with SCHD over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.45), SMH (correlation 0.36) and GLD (correlation 0.31); among large stocks, CAH (correlation 0.28), CLS (correlation 0.19) and FIX (correlation 0.34). A correlation near zero means the two have moved largely independently.

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## Explore further

- Full page with charts: https://easycompare.io/research/schd
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against SCHD live: https://betterthanspy.com/?b=SCHD&utm_source=easycompare&utm_medium=research