ETF Comparison

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

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

Data updated July 5, 2026

iShares

ETFs481

Total AUM$4451B

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 HDV.

See all iShares ETFs

Schwab

ETFs34

Total AUM$574B

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

Schwab is known for offering low-cost, broad-based ETFs that serve both core portfolio holdings and specialized investment strategies. Their 33-fund lineup spans multiple asset classes including bonds, equities, international markets, digital assets, and factor-based strategies, with a notable emphasis on dividend-focused funds like SCHD alongside core index options. The issuer emphasizes accessibility for individual investors through competitive expense ratios and a diverse range of fund families designed to support various investment objectives.

See our curated list of related YouTube videos on SCHD.

See all Schwab ETFs

Side-by-side snapshot

	HDV	SCHD
Full name	iShares Core High Dividend ETF	Schwab U.S. Dividend Equity ETF
Issuer	iShares	Schwab
Last Close	$28.04 as of July 5, 2026	$32.39 as of July 5, 2026
Distribution yield	2.64%	3.12%
Distribution Safety Score	79	100
Expense ratio	0.08%	0.06%
AUM	$13.6B	$95.2B
Distribution frequency	Quarterly	Quarterly
Underlying index	Morningstar Dividend Yield Focus Index	Dow Jones U.S. Dividend 100 Index
Objective	Dividend Income	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	03/29/2011	10/20/2011
Beta	0.33	0.59
Last dividend	$0.1850	$0.2525
Ex-dividend date	07/15/2026	06/24/2026

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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

HDV has lagged SCHD over the trailing twelve months, posting a 22.03% total return against 23.16%. The lead holds up over 10 years too: SCHD has compounded at 12.50% a year, against 9.32% for HDV. Figures are total returns: price change plus every distribution reinvested.

Symbol	YTD	1Y	3Y	5Y	10Y	Since Oct 2011	Volatility	Sharpe	Sortino	Max drawdown
HDV	16.15%	22.03%	15.38%	11.47%	9.32%	10.85%	11.5%	0.86	1.23	-10.5%
SCHD	17.79%	23.16%	13.81%	8.69%	12.50%	13.16%	13.1%	0.65	0.94	-16.1%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 2, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Oct 2011” measures every fund from October 20, 2011 — 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 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.

Quick verdict

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

SCHD offers the higher yield at 3.12% vs 2.64% for HDV. 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 0.08%.

They track different benchmarks: HDV is linked to Morningstar Dividend Yield Focus Index while SCHD tracks Dow Jones U.S. Dividend 100 Index, which means their performance drivers differ.

SCHD is the larger fund by assets ($95.2B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, HDV would generate roughly $22.00/month, while SCHD would produce $26.00/month, at current distribution rates. Both pay quarterly distributions.

HDV yield2.64%

SCHD yield3.12%

Monthly diff on $10K$4.00

Cost & efficiency

Over 10 years on $10,000, HDV would cost approximately $80 in fees vs $60 for SCHD (simplified, not compounded). The $20.00 difference may be offset by yield or performance.

HDV ER0.08%

SCHD ER0.06%

Strategy & risk

HDV tracks Morningstar Dividend Yield Focus Index with a dividend income approach, while SCHD tracks Dow Jones U.S. Dividend 100 Index with a basket approach. Beta is 0.33 for HDV and 0.59 for SCHD, indicating HDV is less volatile relative to the market.

HDV beta0.33

SCHD beta0.59

Fund details

HDV is managed by iShares (launched 03/29/2011) with $13.6B in assets. SCHD is managed by Schwab (launched 10/20/2011) with $95.2B in assets.

HDV AUM$13.6B

SCHD AUM$95.2B

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Frequently asked questions

Is HDV or SCHD better for dividend income?

It depends on your goals. SCHD 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 HDV and SCHD?

HDV (iShares Core High Dividend ETF) tracks Morningstar Dividend Yield Focus Index with a dividend income approach, while SCHD (Schwab U.S. Dividend Equity ETF) tracks Dow Jones U.S. Dividend 100 Index with a basket approach. They are issued by iShares and Schwab respectively.

Can I hold both HDV and SCHD?

Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.

Which has lower fees, HDV or SCHD?

HDV has an expense ratio of 0.08% 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 HDV vs SCHD generate?

At current rates, $10,000 in HDV would generate roughly $22.00 per month ($264.00 annually). The same in SCHD would produce about $26.00 per month ($312.00 annually).

Which has performed better historically, HDV or SCHD?

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HDV vs SCHD — at a glance

Generated July 2026 from current fund data.

Overview

HDV and SCHD are both large-cap U.S. dividend ETFs that charge minimal fees and distribute quarterly. The critical difference is their underlying index: HDV tracks the Morningstar Dividend Yield Focus Index, which prioritizes current yield and financial quality, while SCHD follows the Dow Jones U.S. Dividend 100 Index, which emphasizes dividend consistency and fundamental strength alongside yield. This translates to different stock exposure and a 48-basis-point gap in current distribution rate.

How they differ

SCHD yields 3.12% versus HDV's 2.64%—a meaningful spread for income-focused investors. The yield gap reflects SCHD's stricter focus on dividend sustainability; its underlying index explicitly selects for companies with longer dividend-payment histories and stronger financial metrics, which tend to own higher-yielding names. HDV's lower yield comes paired with a lower beta of 0.33, suggesting less market sensitivity than SCHD's 0.59 beta, which means HDV historically moves less sharply with the broader market. SCHD has substantially larger assets under management at $95.2B compared to HDV's $13.6B, making it more liquid and widely held. Both funds charge nearly identical fees—HDV at 0.08% and SCHD at 0.06%—so cost is a wash.

Who each is best for

HDV: Fits investors seeking lower market correlation alongside dividend income and are comfortable with a modest yield premium over the broader market in exchange for potentially reduced portfolio volatility.

SCHD: Designed for income investors who prioritize higher current yield from a large, established fund with deeper assets and more granular tracking of a yield-focused index with an explicit dividend-consistency screen.

Key risks to know

Dividend-cut vulnerability in both funds. While SCHD's index screens for dividend-payment history, neither fund guarantees dividend stability. Economic downturns can force dividend reductions across the high-yield universe, directly eroding the income these funds deliver.

Lower equity-market participation in HDV. A beta of 0.33 means HDV captures meaningfully less of a broad stock market rally than SCHD's 0.59 beta. Prolonged bull markets may leave HDV significantly lagging total return peer returns.

Concentration risk on dividend payers. Both funds overweight sectors and companies with high dividend yields—typically utilities, REITs, and consumer staples—which narrows sector diversity and increases exposure to sector-specific downturns.

Yield-compression risk in a falling-rate environment. If the Federal Reserve cuts rates sharply, dividend-focused stocks often underperform growth stocks and can see valuations compress, pressuring NAV even if dividend payments remain stable.

Bottom line

SCHD offers a higher current yield and more substantial assets in a slightly cheaper wrapper; HDV provides lower market sensitivity at the cost of a thinner distribution rate. If maximizing current income from a consistent dividend strategy matters most, SCHD's extra 48 basis points of yield and bigger asset base make it compelling; if reducing portfolio volatility while still collecting dividend income is the priority, HDV's lower beta justifies its modest yield trade-off. Past performance does not guarantee future dividend stability or market returns.

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