SCHD vs SPY: which ETF is better?
Schwab U.S. Dividend Equity ETF (SCHD) and State Street SPDR S&P 500 ETF (SPY) compared on fees, holdings overlap, dividend yield, returns and risk, using the latest data.
- SCHD and SPY have low overlap: 9% of each fund by weight sits in the same holdings.
- SCHD is cheaper at 0.06% a year against 0.09% for SPY, about $3 less in fees per $10,000 invested each year.
- Over the last 10 years, SPY returned an average of 15.2% a year against 13.6% for SCHD, with dividends reinvested.
- SPY is more diversified, with 504 holdings against 99 in SCHD.
- SCHD pays more income, yielding 3.00% over the last 12 months against 1.03% for SPY.
- Overlap by weight
- 8.7%
- Shared holdings
- 45
| SCHD | SPY | |
|---|---|---|
| Name | Schwab U.S. Dividend Equity ETF | State Street SPDR S&P 500 ETF |
| Issuer | Schwab | SPDR |
| Listed on | NYSE Arca · USD | NYSE Arca · USD |
| Expense ratio | 0.06% | 0.09% |
| Assets (AUM) | $120B | $778B |
| Launched | Oct 20, 2011 | Jan 22, 1993 |
| Holdings | 99 | 504 |
| Dividend yield (12m) | 3.00% · quarterly | 1.03% · quarterly |
| Asset class | Equity | Equity |
| Annualised return | SCHD | SPY |
|---|---|---|
| 1 year | +37.3% | +10.9% |
| 3 years | +18.9% | +20.5% |
| 5 years | +9.8% | +10.9% |
| 10 years | +13.6% | +15.2% |
| Volatility | 13.2% | 15.3% |
| Max drawdown | -33.4% | -33.7% |
Volatility is the annualised standard deviation of daily returns over 3 years. Max drawdown is the largest fall from a peak over the last 10 years, or since launch.
| Holding | SCHD | SPY |
|---|---|---|
| CVXCHEVRON | 3.95% | 0.66% |
| PGPROCTER & GAMBLE | 4.45% | 0.61% |
| KOCOCA-COLA | 4.27% | 0.58% |
| MRKMERCK & CO INC | 3.81% | 0.57% |
| UNHUNITEDHEALTH GROUP | 3.89% | 0.56% |
| HDHOME DEPOT | 4.32% | 0.55% |
| TXNTEXAS INSTRUMENT | 4.29% | 0.40% |
| AMGNAMGEN INC | 4.09% | 0.39% |
| ABTABBOTT LABORATORIES | 4.04% | 0.31% |
| PEPPEPSICO | 3.99% | 0.31% |
Pull each fund's details, full price history and holdings into Google Sheets or Excel, so your comparison updates itself.
=SF("SCHD","etfInfo","expenseRatio&assetsUnderManagement&holdingsCount")=SF_TIMESERIES("SCHD","2016-10-01",TODAY(),"dailyAdj")=SF("SPY","etfInfo","expenseRatio&assetsUnderManagement&holdingsCount")=SF_TIMESERIES("SPY","2016-10-01",TODAY(),"dailyAdj")Prices to Nov 6, 2026; holdings last checked Nov 7, 2026. Returns are in each fund's trading currency (USD). Past performance doesn't predict future returns. For information only, not investment advice.
More comparisons
SCHD vs SPY: frequently asked questions
How much do SCHD and SPY overlap?
8.7% by weight. They share 45 holdings, and that share of each fund is invested in exactly the same positions. They cover quite different parts of the market.
Is SCHD or SPY cheaper?
SCHD is cheaper. SCHD's expense ratio is 0.06% a year and SPY's is 0.09%, so on $10,000 you'd pay about $6 and $9 a year.
Which has performed better, SCHD or SPY?
Over the last 10 years, SPY has. SCHD returned 13.6% and SPY 15.2% a year on average, including reinvested dividends, as of Nov 6, 2026. Past returns don't predict future ones.
Which pays a higher dividend, SCHD or SPY?
SCHD does. Over the last 12 months SCHD yielded 3.00%, paid quarterly, and SPY 1.03%, paid quarterly.
Should I hold both SCHD and SPY?
They overlap by 9%, so holding both does spread your money more widely than either alone. Whether that suits you depends on the mix you want. This is general information, not advice.
Build your own fund comparison that updates itself
SheetsFinance pulls prices, dividends, ETF holdings and fund details for 80,000+ assets straight into Google Sheets and Excel.