ETF Comparison

CHPY vs SCHD: Which Is the Better Pick in 2026?

A head-to-head comparison of YieldMax Semiconductor Portfolio Option Income ETF and Schwab U.S. Dividend Equity ETF covering yield, cost, risk, and income potential.

Data updated August 19, 2026

Best for

CHPYInvestors who want to maximize current income — roughly 42.61%, generated by selling options premium.
SCHDInvestors who want a quality-dividend tilt rather than the whole market.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

CHPY has outpaced SCHD over the trailing twelve months, posting a 90.32% total return against 33.45%. Measured from Apr 2025 — when the younger fund began trading — CHPY has compounded at 98.84% a year versus 25.97% for SCHD. SCHD has been the steadier holding, though — annualized volatility of 11.1% against 39.2% for CHPY. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Symbol	YTD	1Y	Since Apr 2025	Volatility	Sharpe	Sortino	Max drawdown
CHPY	52.50%	90.32%	98.84%	39.2%	1.53	2.20	-27.6%
SCHD	28.63%	33.45%	25.97%	11.1%	2.20	3.73	-4.6%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 19, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Apr 2025” measures every fund from April 3, 2025 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
Metric	CHPY	SCHD
Full name	YieldMax Semiconductor Portfolio Option Income ETF	Schwab U.S. Dividend Equity ETF
Issuer	YieldMax	Schwab
Last Close	$69.59 as of August 19, 2026	$34.51 as of August 19, 2026
Distribution yield	42.61%	2.93%
Distribution Safety Score™	79	100
Expense ratio	1.03%	0.06%
AUM	$1.13B	$109B
Distribution frequency	Weekly	Quarterly
Underlying index	Basket (Semiconductor companies)	Dow Jones U.S. Dividend 100 Index
Objective	Seeks weekly income by holding a portfolio of U.S.-listed semiconductor equities and generating premium through an options overlay written on those holdings and on semiconductor ETFs.	Seeks to track as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Dividend 100 Index, which measures the performance of high dividend yielding stocks issued by U.S. companies with a record of consistently paying dividends, selected for fundamental strength relative to their peers based on financial ratios.
Asset class	Equity	Equity
Inception date	04/02/2025	10/20/2011
Beta	1.8613	0.56
Last dividend	$0.5702	$0.2525
Ex-dividend date	08/19/2026	06/24/2026

Bottom lineChoose CHPY if you want to maximize current income — roughly 42.61%, generated by selling options premium. Choose SCHD if you want a quality-dividend tilt rather than the whole market. There's no free lunch: CHPY's payout comes from selling options, which caps upside and can erode the share price over time, while SCHD keeps full price exposure.

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

Capped upside and premium dependence. CHPY generates income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.

Learn the mechanics: Return of capital, explained · NAV erosion, explained

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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

YieldMax

ETFs59

Total AUM$9.29B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

YieldMax is known for specializing in options-based and income-focused ETFs that emphasize yield generation through covered call strategies and other income-producing methodologies. The firm operates a diverse lineup of 63 funds organized across multiple families including covered call strategies, 0DTE (zero days to expiration) options, double distribution approaches, and various target-date and performance-based portfolios designed to generate regular distributions. Notable offerings span popular underlying assets like major technology stocks and broad market indices, with a particular emphasis on providing enhanced income solutions for investors seeking regular cash flows through options strategies and other tactical approaches.

See our curated list of related YouTube videos on CHPY.

See all YieldMax ETFs

Schwab

ETFs34

Total AUM$616B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Schwab is a major provider of low-cost, broad-based ETFs known for making investing accessible to individual investors through its discount brokerage platform. The issuer's fund lineup spans multiple categories including core index funds, dividend and income-focused strategies, factor-based approaches, international exposure, fixed income, and digital assets, with popular core holdings like SCHB (U.S. broad market) and SCHD (dividend appreciation) alongside more specialized thematic offerings. Schwab's ETF suite is characterized by its breadth across asset classes and investment styles, competitive expense ratios, and integration with its retail brokerage ecosystem.

See our curated list of related YouTube videos on SCHD.

See all Schwab ETFs

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Quick verdict

CHPY (YieldMax Semiconductor Portfolio Option Income ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both dividend ETFs, but they take different approaches.

CHPY offers the higher yield at 42.61% vs 2.93% for SCHD. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

SCHD is cheaper with an expense ratio of 0.06% compared to 1.03%.

They track different benchmarks: CHPY is linked to Basket (Semiconductor companies) while SCHD tracks Dow Jones U.S. Dividend 100 Index, which means their performance drivers differ.

SCHD is the larger fund by assets ($109B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose CHPY

YieldMax Semiconductor Portfolio Option Income ETF

Want to maximize current income — CHPY distributes roughly 42.61% from selling options premium, vs 2.93% for SCHD.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.

Choose SCHD

Schwab U.S. Dividend Equity ETF

Want a quality-dividend tilt — screened payers rather than the broad index.
Want to keep costs low — a 0.06% expense ratio vs 1.03% for CHPY.
Prefer lower volatility — a beta of 0.6 vs 1.9 for CHPY.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

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Deep dive

Yield & income

On a $10,000 investment, CHPY would generate roughly $355.08/month, while SCHD would produce $24.42/month, at current distribution rates.

CHPY yield42.61%

SCHD yield2.93%

Monthly diff on $10K$330.67

Cost & efficiency

Over 10 years on $10,000, CHPY would cost approximately $1,030 in fees vs $60 for SCHD (simplified, not compounded). The $970.00 difference may be offset by yield or performance.

CHPY ER1.03%

SCHD ER0.06%

Strategy & risk

CHPY tracks Basket (Semiconductor companies) with a covered call approach, while SCHD tracks Dow Jones U.S. Dividend 100 Index. Beta is 1.8613 for CHPY and 0.56 for SCHD, making SCHD the less volatile of the two by this measure.

CHPY beta1.8613

SCHD beta0.56

Fund details

CHPY is managed by YieldMax (launched 04/02/2025) with $1.13B in assets. SCHD is managed by Schwab (launched 10/20/2011) with $109B in assets.

CHPY AUM$1.13B

SCHD AUM$109B

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Frequently asked questions

What is the current distribution yield for CHPY and SCHD?

CHPY currently distributes 42.61% and SCHD 2.93%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is CHPY or SCHD better for dividend income?

It depends on your goals. CHPY currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between CHPY and SCHD?

CHPY (YieldMax Semiconductor Portfolio Option Income ETF) tracks Basket (Semiconductor companies) with a covered call approach, while SCHD (Schwab U.S. Dividend Equity ETF) tracks Dow Jones U.S. Dividend 100 Index. They are issued by YieldMax and Schwab respectively.

Can I hold both CHPY and SCHD?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is CHPY or SCHD safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — SCHD scores 100, CHPY scores 79, so SCHD's payout currently looks the more resilient of the two. SCHD has also shown lower price volatility (beta 0.56 vs 1.86 for CHPY). No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.

Which has lower fees, CHPY or SCHD?

CHPY has an expense ratio of 1.03% while SCHD charges 0.06%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in CHPY vs SCHD generate?

At current rates, $10,000 in CHPY would generate roughly $355.08 per month ($4,261.00 annually). The same in SCHD would produce about $24.42 per month ($293.00 annually).

Which has performed better historically, CHPY or SCHD?

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CHPY vs SCHD — at a glance

Generated August 15, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

Overview

CHPY and SCHD represent vastly different approaches to dividend and income investing. SCHD tracks a dividend-focused large-cap equity index, holding a basket of 100 U.S. companies with strong dividend histories and relative financial strength. CHPY, by contrast, is a newly launched (April 2025) options overlay fund that holds semiconductor equities and sells call options on those holdings and semiconductor ETFs to generate weekly premium income. The core distinction: SCHD chases dividend growth from fundamentally sound stocks; CHPY synthetically manufactures income by capping upside through call-selling.

How they differ

The first and most fundamental difference is structure and strategy. SCHD is a straightforward index tracker with a 2.93% distribution rate funded by underlying dividend payments and capital gains. CHPY, launched only weeks ago, targets a 39.75% distribution rate by writing options—selling the right to purchase its holdings at set prices and pocketing the premium. CHPY's beta of 1.86 signals it amplifies semiconductor sector moves, while SCHD's beta of 0.56 indicates it moves slower than the broader market. Fees reflect that gap: SCHD charges 0.06% annually with $106B in assets, while CHPY charges 1.03% on $1.08B, and distributions arrive weekly versus quarterly. SCHD has operated for over 13 years; CHPY arrived in April 2025 with no track record.

Who each is best for

SCHD: Fits investors seeking steady, low-cost exposure to dividend-paying U.S. large-caps and don't require high current income; works as a core equity allocation for those comfortable with 2-3% annual income and long holding periods.

CHPY: Fits investors with higher current-income needs and comfort with weekly cash flow; designed for those who understand options overlay mechanics and accept that high distribution rates come with capped appreciation and sector concentration in semiconductors.

Key risks to know

NAV erosion at high distribution rates: CHPY's 39.75% yield substantially exceeds the underlying dividend and capital gains likely to accrue in semiconductors, meaning portions of distributions are likely to come from return of capital. This can erode net asset value over time, though the fund's recent inception makes this difficult to measure yet.

Options-capped upside and assignment risk: Because CHPY sells calls to fund its income, strong rallies in semiconductor stocks or ETFs will trigger call assignments, forcing the fund to sell holdings at predetermined prices and forgo gains. Investors receive premium income but sacrifice participation in significant upswings.

Semiconductor sector concentration: Both holdings and option short exposure are concentrated in semiconductors. A cyclical downturn in chip demand or valuations would pressure both the equity portfolio and option income, leaving investors squeezed on both sides. Verify whether SCHD's diversification across dividend sectors provides meaningful hedge if semiconductors falter.

Derivative complexity and counterparty risk: CHPY's strategy depends on active options management and smooth contract roll-over. Volatility spikes, liquidity disruptions, or counterparty friction could impair the fund's ability to generate targeted premium or force disadvantageous rebalancing.

Nascent track record: CHPY has operated for only weeks. Its actual ability to deliver 39.75% distributions consistently, manage volatility, and avoid NAV erosion is untested through market cycles.

Bottom line

SCHD offers low-cost, diversified large-cap dividend exposure with predictable quarterly income and a 13-year operating history. CHPY pursues dramatically higher current yields through options overlay but introduces derivative complexity, sector concentration, NAV-erosion risk, and a brand-new operational track record. If you prioritize simplicity, broad diversification, and proven reliability, SCHD's proven structure stands out; if you accept options mechanics and need substantial weekly cash flow, CHPY may merit exploration—though its ability to sustain distributions at stated levels remains untested. Past performance does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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The metrics behind this comparison, explained in the Academy.

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