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Security Comparison

O vs SCHD: One REIT, or a Screen of Dividend Stocks?

A head-to-head of Realty Income and the Schwab U.S. Dividend Equity ETF covering concentration, payout, and role.

Updated October 12, 2026

How these figures are calculated: methodology.

Best for

  • OInvestors who want higher current income (5.97% vs 3.21% for SCHD).
  • 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. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

O has lagged SCHD over the trailing twelve months, posting a -0.94% total return against 29.71%. The lead holds up over 10 years too: SCHD has compounded at 12.87% a year, against 3.99% for O. SCHD has been the steadier holding, though — annualized volatility of 13.2% against 18.1% for O. 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.
SymbolYTD cumulative1Y cumulative3Y annualized5Y annualized10Y annualizedSince Oct 2011Volatility Sharpe Sortino Max drawdown
O0.95%-0.94%8.72%1.30%3.99%8.81%18.1%0.220.30-19.3%
SCHD24.23%29.71%16.46%9.63%12.87%13.22%13.2%0.821.20-16.1%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 12, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “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.
MetricOSCHD
Full nameRealty Income CorporationSchwab U.S. Dividend Equity ETF
IssuerRealty IncomeSchwab
Last Close$54.70 as of October 12, 2026$33.26 as of October 12, 2026
Distribution rate5.97%3.21%
Trailing 12-month yield5.94%3.17%
Distribution Safety Score™ 9597
Safety-Adjusted Yield 5.67%3.11%
Expense ratio—0.06%
AUM—$110B
Distribution frequencyMonthlyQuarterly
Underlying index—Dow Jones U.S. Dividend 100 Index
ObjectiveA real estate investment trust that invests in freestanding, single-tenant commercial properties subject to long-term net lease agreements. Known as "The Monthly Dividend Company," Realty Income has a long track record of monthly dividend payments and consistent dividend growth.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 classReal EstateEquity
Inception dateN/A10/20/2011
Beta0.6960.56
Last dividend$0.272 declared, pays 10/15/2026$0.2665
Ex-dividend date09/30/202609/23/2026

Bottom lineChoose O if you want higher current income (5.97% vs 3.21% for SCHD). Choose SCHD if you want a quality-dividend tilt rather than the whole market.

One REIT versus a dividend-stock screen

O is a single listed REIT. SCHD holds a rules-based basket of quality US dividend stocks. Concentration and asset class, not a small yield gap, decide the comparison.

OSCHD
What it isSingle equity REITUS dividend-stock ETF
ConcentrationOne issuerDiversified stock screen
Expense ratio—0.06%
Distribution rate5.97%3.21%
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Income calculator

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

Schwab
ETFs33
Total AUM$613B

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

Schwab offers ETFs across U.S. and international equities, fixed income, and other investment categories. Its dividend-focused lineup includes SCHD, which seeks to track the Dow Jones U.S. Dividend 100 Index and selects dividend-paying U.S. companies for fundamental strength. Fund objectives and tracked indexes differ across the lineup.

See our curated list of related YouTube videos on SCHD.

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Quick verdict

O (Realty Income Corporation) is a real estate investment trust, while SCHD (Schwab U.S. Dividend Equity ETF) is an ETF — their trading structures differ.

O offers the higher yield at 5.97% vs 3.21% for SCHD. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

Deep dive

Yield & income

On a $10,000 investment, O would generate roughly $49.75 cash per distribution, while SCHD would produce $80.25 cash per distribution, at current distribution rates.

O yield5.97%
SCHD yield3.21%
Cash diff on $10K$30.50

Cost & efficiency

SCHD charges a 0.06% expense ratio — roughly $60 over 10 years on $10,000 (simplified, not compounded). O is a real estate investment trust, not a fund, so it charges no expense ratio.

SCHD ER0.06%

Strategy & risk

O is a real estate investment trust built around net lease REIT exposure, while SCHD tracks Dow Jones U.S. Dividend 100 Index. Beta is 0.696 for O and 0.56 for SCHD, making SCHD the less volatile of the two by this measure.

O beta0.696
SCHD beta0.56

Security details

O (Realty Income Corporation) is a real estate investment trust. SCHD is managed by Schwab (launched 10/20/2011) with $110B in assets.

SCHD AUM$110B
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Frequently asked questions

What is the difference between O and SCHD?

O (Realty Income Corporation) is a single equity REIT. SCHD (Schwab U.S. Dividend Equity ETF) holds a screen of quality US dividend stocks. Concentration and sector are the split, not a tiny yield gap. SCHD costs 0.06%; distributions are 5.97% and 3.21% as of October 2026.

What is the current distribution rate for O and SCHD?

O currently distributes 5.97% and SCHD 3.21%, based on fund data updated October 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is O or SCHD better for dividend income?

It depends on your goals. O 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.

Can I hold both O 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 O 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: SCHD scores 97, O scores 95. 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, O or SCHD?

SCHD charges a 0.06% expense ratio. O is a real estate investment trust, not a fund, so it has no expense ratio — owning it directly costs nothing in ongoing fund fees.

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

At current rates, $10,000 in O would generate roughly $49.75 cash per distribution ($597.00 annually). The same in SCHD would produce about $80.25 cash per distribution ($321.00 annually).

Which has performed better historically, O or SCHD?

O has lagged SCHD over the trailing twelve months, posting a -0.94% total return against 29.71%. The lead holds up over 10 years too: SCHD has compounded at 12.87% a year, against 3.99% for O. SCHD has been the steadier holding, though — annualized volatility of 13.2% against 18.1% for O. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

O vs SCHD — at a glance

Generated October 10, 2026.

Overview

O is a net lease real estate investment trust that owns freestanding, single-tenant commercial properties and distributes monthly income from long-term lease payments. SCHD is an ETF that tracks the Dow Jones U.S. Dividend 100 Index, holding approximately 100 large-cap U.S. stocks selected for dividend consistency and financial strength.

  • SCHD: Fits investors who want broad equity dividend exposure with minimal fees and quarterly distributions, and who value diversification across dozens of companies screened for dividend consistency rather than concentration in one asset class.

Key risks to know

  • Interest rate and refinancing risk (O): Net lease REITs are sensitive to rising rates, which increase borrowing costs and may compress cap rates; this can erode both NAV and the ability to grow distributions in a higher-rate environment.
  • Tenant credit and lease rollover risk (O): O's income depends on tenant creditworthiness and lease renewal at lease expiration; if major tenants fail or renegotiate at lower rents, distributions could be at risk.
  • Equity dividend cut risk (SCHD): While the fund's index screens for dividend payers with strong fundamentals, recessions or sector downturns can trigger cuts or suspensions among its holdings, reducing distributions unpredictably.
  • Overlap and macro equity risk (SCHD): SCHD's holdings may face overlapping economic headwinds in a broad equity sell-off; the fund's lower beta suggests some downside cushion, but it remains equity-market-dependent.
  • Distribution sustainability (O): O's 5.97% yield leaves limited room for FFO growth to fund distribution increases; if property sales slow or capital deployment slows, future growth may stall.

Bottom line

If you want a single, monthly-paying real estate income stream with lower stock-market correlation, O offers that at a 5.97% yield and a 0.696 beta. If you prioritize diversified equity dividend exposure with a tax-friendly expense ratio and reinvestment flexibility, SCHD's 0.06% cost and $110B scale make it a cleaner vehicle. They address different portfolio roles—core real estate allocation versus core equity dividend bucket—so the choice depends on your asset-class mix goals, not one superseding the other. 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.

How REITs pay income How to read a fund's stats Return of capital, explained

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These comparisons follow the Dividend Vision methodology.