ETF Comparison

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

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

Data updated July 15, 2026

Invesco

ETFs256

Total AUM$971B

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

Invesco is a major player in the ETF space known for offering a broad, diversified lineup of 71 funds spanning multiple investment themes and strategies. Their portfolio spans income-focused funds, factor-based equity strategies, commodity exposure, digital assets, ESG investing, and the popular Invesco QQQ family tracking the Nasdaq-100, serving both income-seeking and growth-oriented investors. The issuer is particularly recognized for specialized offerings like BulletShares (laddered bond funds), sector rotation strategies, and thematic investing options, making it a comprehensive choice for investors seeking varied exposures beyond traditional index funds.

See our curated list of related YouTube videos on PEY.

See all Invesco 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

	PEY	SCHD
Full name	Invesco High Yield Equity Dividend Achievers ETF	Schwab U.S. Dividend Equity ETF
Issuer	Invesco	Schwab
Last Close	$23.77 as of July 15, 2026	$32.20 as of July 15, 2026
Distribution yield	4.80%	3.14%
Distribution Safety Score	97	100
Expense ratio	0.52%	0.06%
AUM	$1.10B	$95.2B
Distribution frequency	Monthly	Quarterly
Underlying index	NASDAQ US Dividend Achievers 50 Index	Dow Jones U.S. Dividend 100 Index
Objective	Seeks to track the investment results of the NASDAQ US Dividend Achievers 50 Index, which is composed of 50 stocks selected principally on the basis of dividend yield and consistent growth in dividends.	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	12/09/2004	10/20/2011
Beta	0.63	0.58
Last dividend	$0.0951	$0.2525
Ex-dividend date	06/22/2026	06/24/2026

Bottom lineChoose PEY if you want higher current income (4.80% vs 3.14% for SCHD). Choose SCHD if you want a quality-dividend tilt rather than the whole market.

Income calculator

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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.

Quick verdict

PEY (Invesco High Yield Equity Dividend Achievers ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both dividend ETFs, but they take different approaches.

PEY offers the higher yield at 4.80% vs 3.14% 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 0.52%.

They track different benchmarks: PEY is linked to NASDAQ US Dividend Achievers 50 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.

Who should choose each?

Choose PEY

Invesco High Yield Equity Dividend Achievers ETF

Want higher current income — PEY yields 4.80% vs 3.14% for SCHD.
Want a quality-dividend tilt — screened payers rather than the broad index.

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 0.52% for PEY.

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, PEY would generate roughly $40.00/month, while SCHD would produce $26.17/month, at current distribution rates.

PEY yield4.80%

SCHD yield3.14%

Monthly diff on $10K$13.83

Cost & efficiency

Over 10 years on $10,000, PEY would cost approximately $520 in fees vs $60 for SCHD (simplified, not compounded). The $460.00 difference may be offset by yield or performance.

PEY ER0.52%

SCHD ER0.06%

Strategy & risk

PEY tracks NASDAQ US Dividend Achievers 50 Index with a dividend approach, while SCHD tracks Dow Jones U.S. Dividend 100 Index. Beta is 0.63 for PEY and 0.58 for SCHD, indicating SCHD is less volatile relative to the market.

PEY beta0.63

SCHD beta0.58

Fund details

PEY is managed by Invesco (launched 12/09/2004) with $1.10B in assets. SCHD is managed by Schwab (launched 10/20/2011) with $95.2B in assets.

PEY AUM$1.10B

SCHD AUM$95.2B

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Frequently asked questions

Is PEY or SCHD better for dividend income?

It depends on your goals. PEY 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 PEY and SCHD?

PEY (Invesco High Yield Equity Dividend Achievers ETF) tracks NASDAQ US Dividend Achievers 50 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 Invesco and Schwab respectively.

Can I hold both PEY 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.

Which has lower fees, PEY or SCHD?

PEY has an expense ratio of 0.52% 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 PEY vs SCHD generate?

At current rates, $10,000 in PEY would generate roughly $40.00 per month ($480.00 annually). The same in SCHD would produce about $26.17 per month ($314.00 annually).

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