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ETF Comparison

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

A head-to-head comparison of iShares Select Dividend ETF and Schwab U.S. Dividend Equity ETF covering yield, cost, risk, and income potential.

Data updated September 18, 2026

Best for

  • DVYInvestors who want a quality-dividend tilt rather than the whole market.
  • SCHDInvestors who want a quality-dividend tilt rather than the whole market.

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Visual comparison

Key metrics

Projected income on $10K

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

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings.

DVY has lagged SCHD over the trailing twelve months, posting a 17.14% total return against 27.11%. The lead holds up over 10 years too: SCHD has compounded at 12.93% a year, against 10.30% for DVY. 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.
SymbolYTD1Y3Y5Y10YSince Oct 2011Volatility Sharpe Sortino Max drawdown
DVY13.61%17.14%16.35%10.41%10.30%11.77%13.8%0.771.10-16.0%
SCHD23.46%27.11%15.30%9.83%12.93%13.32%13.2%0.741.08-16.1%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 18, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Oct 2011” measures every fund from October 20, 2011 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. 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 trailing 3 years) — 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.
MetricDVYSCHD
Full nameiShares Select Dividend ETFSchwab U.S. Dividend Equity ETF
IssueriSharesSchwab
Underlying indexDow Jones U.S. Select Dividend IndexDow Jones U.S. Dividend 100 Index
Last Close$158.24 as of September 18, 2026$33.68 as of September 18, 2026
Distribution rate3.36%3.00%
Distribution Safety Score™ 100100
Safety-Adjusted Yield 3.36%3.00%
Expense ratio0.38%0.06%
AUM$23.1B$110B
Distribution frequencyQuarterlyQuarterly
ObjectiveSeeks to track the Dow Jones U.S. Select Dividend Index, investing at least 80% of assets in the index constituents — leading U.S. stocks ranked by dividend yield.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 classEquityEquity
Inception date11/03/200310/20/2011
Beta0.530.56
Last dividend$1.329 payable today$0.2525
Ex-dividend date09/15/202606/24/2026

Bottom lineDVY and SCHD are both for investors who want a quality-dividend tilt rather than the whole market — so strategy isn't the deciding factor here. Cost is: SCHD charges 0.06% against 0.38% for DVY, and between two funds this similar that gap comes straight out of your return every year you hold.

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Income calculator

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

iShares
ETFs466
Total AUM$4551B

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

iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.

See our curated list of related YouTube videos on DVY.

See all iShares ETFs
Schwab
ETFs33
Total AUM$609B

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

DVY (iShares Select Dividend ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

DVY offers the higher yield at 3.36% vs 3.00% 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 0.38%.

They have different reference exposures: DVY is linked to Dow Jones U.S. Select Dividend Index while SCHD is linked to Dow Jones U.S. Dividend 100 Index, which means their performance drivers differ.

SCHD is the larger fund by assets ($110B), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment, DVY would generate roughly $28.00/month, while SCHD would produce $25.00/month, at current distribution rates. Both pay quarterly distributions.

DVY yield3.36%
SCHD yield3.00%
Monthly diff on $10K$3.00

Cost & efficiency

Over 10 years on $10,000, DVY would cost approximately $380 in fees vs $60 for SCHD (simplified, not compounded). The $320.00 difference may be offset by yield or performance.

DVY ER0.38%
SCHD ER0.06%

Strategy & risk

DVY tracks Dow Jones U.S. Select Dividend Index with a dividend approach, while SCHD tracks Dow Jones U.S. Dividend 100 Index. Beta is 0.53 for DVY and 0.56 for SCHD — effectively similar market sensitivity.

DVY beta0.53
SCHD beta0.56

Fund details

DVY is managed by iShares (launched 11/03/2003) with $23.1B in assets. SCHD is managed by Schwab (launched 10/20/2011) with $110B in assets.

DVY AUM$23.1B
SCHD AUM$110B
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Frequently asked questions

What is the current distribution rate for DVY and SCHD?

DVY currently distributes 3.36% and SCHD 3.00%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is DVY or SCHD better for dividend income?

It depends on your goals. DVY 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 DVY and SCHD?

DVY (iShares Select Dividend ETF) tracks Dow Jones U.S. Select Dividend Index with a dividend approach, while SCHD (Schwab U.S. Dividend Equity ETF) tracks Dow Jones U.S. Dividend 100 Index. They are issued by iShares and Schwab respectively.

Can I hold both DVY 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 DVY 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 — they are effectively tied: DVY scores 100, SCHD scores 100. Neither has a clear safety edge on that measure. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, DVY or SCHD?

DVY has an expense ratio of 0.38% 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 DVY vs SCHD generate?

At current rates, $10,000 in DVY would generate roughly $28.00 per month ($336.00 annually). The same in SCHD would produce about $25.00 per month ($300.00 annually).

Which has performed better historically, DVY or SCHD?

DVY has lagged SCHD over the trailing twelve months, posting a 17.14% total return against 27.11%. The lead holds up over 10 years too: SCHD has compounded at 12.93% a year, against 10.30% for DVY. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

DVY vs SCHD — at a glance

Generated September 19, 2026.

Overview

DVY and SCHD are both ETFs targeting high-dividend U.S. equities, but they track different underlying indexes with materially different selection criteria. DVY tracks the Dow Jones U.S. Select Dividend Index, which ranks constituents primarily by yield, while SCHD tracks the Dow Jones U.S. Dividend 100 Index, which emphasizes dividend consistency and financial strength alongside yield. The result: DVY leans toward higher-yielding names; SCHD screens for payers with longer track records and stronger fundamentals.

How they differ

The core difference lies in selection discipline. DVY ranks stocks primarily by dividend yield, which can include newer or less-established dividend payers; SCHD's index requires a consistent dividend-payment history and screens for relative financial strength using ratios like leverage and profitability. That distinction shows up in the yields: 3.36% for DVY versus 3.00% for SCHD—a 36-basis-point gap that reflects DVY's tilt toward higher payout companies. Both have similar betas—0.53 and 0.56, respectively—indicating comparable sensitivity to broad market moves, though DVY's lower beta suggests slightly lower volatility. DVY has been running since 11/03/2003, while SCHD launched 10/20/2011.

Who each is best for

  • DVY: Fits investors who prioritize yield above other metrics and are comfortable with a pure ranking-by-yield approach that may include companies earlier in their dividend journey.
  • SCHD: Fits investors seeking dividend exposure paired with fundamental screening for financial health and dividend sustainability, particularly those who value a lower cost structure and deeper liquidity.

Key risks to know

  • Yield-chasing concentration in DVY: A yield-primary selection rule can cluster the fund in sectors or individual stocks facing cyclical or structural headwinds; SCHD's additional screens for dividend consistency and financial strength provide some buffer against isolated dividend cuts.
  • Interest-rate sensitivity: Both funds hold dividend-paying equities that can experience pressure if rates rise sharply, but DVY's higher yield may attract rate-sensitive flows, potentially affecting its price volatility during rate-hiking cycles.
  • Selection drift from fundamentals in DVY: Stocks can move in and out of the Select Dividend Index based on recent yield alone, creating turnover and potential tax drag in taxable accounts without regard to dividend sustainability.
  • Sector overlap and concentration: Both funds' exposures likely overlap in utilities, energy, and REITs; verify holdings to assess whether holding both would add meaningful diversification.

Bottom line

If you want maximum current yield with a straightforward index methodology, DVY delivers 3.36%. Past performance does not guarantee future results; dividend yields and index methodologies can shift.

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.

How to read a fund's stats How expense ratios eat returns Correlation between two funds

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