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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 August 19, 2026

Best for

  • HDVInvestors who want a quality-dividend tilt rather than the whole market.
  • SCHDInvestors who want higher current income (2.93% vs 1.47% for HDV).

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

HDV has lagged SCHD over the trailing twelve months, posting a 28.07% total return against 33.45%. The lead holds up over 10 years too: SCHD has compounded at 13.13% a year, against 10.01% for HDV. 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
HDV24.37%28.07%17.56%13.09%10.01%11.26%11.6%1.011.46-10.5%
SCHD28.63%33.45%16.97%10.46%13.13%13.71%13.2%0.851.25-16.1%

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 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.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricHDVSCHD
Full nameiShares Core High Dividend ETFSchwab U.S. Dividend Equity ETF
IssueriSharesSchwab
Last Close$29.56 as of August 19, 2026$34.51 as of August 19, 2026
Distribution yield1.47%2.93%
Distribution Safety Score™ 89100
Expense ratio0.08%0.06%
AUM$15.0B$109B
Distribution frequencyMonthlyQuarterly
Underlying indexMorningstar Dividend Yield Focus IndexDow Jones U.S. Dividend 100 Index
ObjectiveSeeks to track the Morningstar Dividend Yield Focus Index, investing at least 80% of assets in income-paying U.S. securities screened for company quality and financial health.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 date03/29/201110/20/2011
Beta0.30.56
Last dividend$0.0870$0.2525
Ex-dividend date07/15/202606/24/2026

Bottom lineChoose HDV if you want a quality-dividend tilt rather than the whole market. Choose SCHD if you want higher current income (2.93% vs 1.47% for HDV).

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Income calculator

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

iShares
ETFs473
Total AUM$4710B

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$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

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

SCHD offers the higher yield at 2.93% vs 1.47% 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 ($109B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose HDV

iShares Core High Dividend ETF

  • Want a quality-dividend tilt — screened payers rather than the broad index.
  • Prefer lower volatility — a beta of 0.3 vs 0.6 for SCHD.

Choose SCHD

Schwab U.S. Dividend Equity ETF

  • Want higher current income — SCHD yields 2.93% vs 1.47% for HDV.
  • Want a quality-dividend tilt — screened payers rather than the broad index.
  • Want to keep costs low — a 0.06% expense ratio vs 0.08% for HDV.

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

Deep dive

Yield & income

On a $10,000 investment, HDV would generate roughly $12.25/month, while SCHD would produce $24.42/month, at current distribution rates.

HDV yield1.47%
SCHD yield2.93%
Monthly diff on $10K$12.17

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, while SCHD tracks Dow Jones U.S. Dividend 100 Index. Beta is 0.3 for HDV and 0.56 for SCHD, making HDV the less volatile of the two by this measure.

HDV beta0.3
SCHD beta0.56

Fund details

HDV is managed by iShares (launched 03/29/2011) with $15.0B in assets. SCHD is managed by Schwab (launched 10/20/2011) with $109B in assets.

HDV AUM$15.0B
SCHD AUM$109B
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Frequently asked questions

What is the current distribution yield for HDV and SCHD?

HDV currently distributes 1.47% 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 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, 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 HDV 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 HDV 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, HDV scores 89, so SCHD's payout currently looks the more resilient of the two. HDV has also shown lower price volatility (beta 0.30 vs 0.56 for SCHD). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

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 $12.25 per month ($147.00 annually). The same in SCHD would produce about $24.42 per month ($293.00 annually).

Which has performed better historically, HDV or SCHD?

HDV has lagged SCHD over the trailing twelve months, posting a 28.07% total return against 33.45%. The lead holds up over 10 years too: SCHD has compounded at 13.13% a year, against 10.01% for HDV. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

HDV 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

HDV and SCHD are both U.S. dividend-focused equity ETFs tracking different quality-screened indexes, but they differ meaningfully in yield and index construction. HDV tracks the Morningstar Dividend Yield Focus Index with a 1.19% distribution rate, while SCHD tracks the Dow Jones U.S. Dividend 100 Index and yields 2.93%. SCHD is substantially larger ($106B vs. $14.9B) and charges a slightly lower expense ratio (0.06% vs. 0.08%), making it the more accessible choice for most dividend investors, though HDV's lower beta suggests a less volatile approach to dividend investing.

How they differ

The biggest difference is yield: SCHD distributes 2.93% annually versus HDV's 1.19%—a gap driven by index construction philosophy. SCHD's Dow Jones U.S. Dividend 100 Index weights toward higher-yielding names, while Morningstar's index balances yield with stricter quality screens. SCHD's beta of 0.56 is substantially higher than HDV's 0.3, reflecting greater volatility and equity-market sensitivity. SCHD also commands far larger assets under management ($106B vs. $14.9B), which typically translates to tighter spreads and easier trading. Both charge minimal expense ratios, though SCHD's 0.06% edge is negligible at these price points.

Who each is best for

  • HDV: Fits investors who want a lower-volatility dividend strategy emphasizing financial health and quality screening, accepting a much lower yield as a trade-off for reduced drawdown exposure and a more conservative beta profile.
  • SCHD: Designed for dividend-income seekers who prioritize yield and can tolerate higher equity-market sensitivity; the substantially larger asset base and lower expense ratio appeal to investors in their accumulation phase or those seeking steady current income.

Key risks to know

  • Yield sustainability risk for SCHD: A 2.93% distribution rate on large-cap dividend stocks leaves little room for fundamental deterioration. If earnings or payout ratios compress, distributions may require capital returns or cuts, particularly during recessions when dividend-paying stocks face pressure.
  • Lower yield may mask opportunity cost for HDV: The 1.19% distribution rate is attractive for stability but substantially trails SCHD; long-term total return could lag if the higher-yielding names in SCHD's portfolio sustain payouts without NAV erosion.
  • Beta disparity: HDV's 0.3 beta signals defensive positioning that may underperform during broad equity rallies, while SCHD's 0.56 beta—still below the market—means it will fall more sharply in downturns despite its large-cap dividend anchor.
  • Dividend-stock concentration risk: Both ETFs concentrate in sectors (utilities, energy, REITs, financials) known for high yields; sector cyclicality can create correlated performance shocks across the entire holdings during industry downturns.

Bottom line

If you want lower volatility and stronger quality screening, HDV's conservative beta and stricter financial health criteria stand out; if you prioritize current income and liquidity, SCHD's 2.93% yield and $106B in assets offer a compelling income stream at an economical cost. Past performance does not guarantee future results.

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

Learn the method

The metrics behind this comparison, explained in the Academy.

What the distribution rate really tells you Why a high yield isn't high income How to read a fund's stats

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