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ETF Comparison

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

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

Updated September 30, 2026

How these figures are calculated: methodology.

Best for

  • SCHBInvestors who want broad equity exposure.
  • SCHDInvestors who want higher current income (3.28% vs 1.10% for SCHB).

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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.

SCHB has lagged SCHD over the trailing twelve months, posting a 15.65% total return against 24.24%. The picture flips over 10 years, though — SCHB has compounded at 14.80% a year, ahead of SCHD at 12.52%. 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
SCHB12.31%15.65%22.44%12.38%14.80%14.72%15.1%1.051.51-19.3%
SCHD20.19%24.24%15.79%9.12%12.52%13.08%13.2%0.781.13-16.1%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 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.
MetricSCHBSCHD
Full nameSchwab U.S. Broad Market ETFSchwab U.S. Dividend Equity ETF
IssuerSchwabSchwab
Underlying indexDow Jones U.S. Broad Stock Market IndexDow Jones U.S. Dividend 100 Index
Last Close$29.31 as of September 30, 2026$32.53 as of September 30, 2026
Distribution rate1.10%3.28%
Trailing 12-month yield1.05%3.24%
Distribution Safety Score™ 100100
Safety-Adjusted Yield 1.10%3.28%
Expense ratio0.03%0.06%
AUM$44.9B$110B
Distribution frequencyQuarterlyQuarterly
ObjectiveProvide exposure to the fund's underlying index or strategy per issuer materials.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 date11/03/200910/20/2011
Beta1.030.56
Last dividend$0.0809$0.2665
Ex-dividend date09/23/202609/23/2026

Bottom lineChoose SCHB if you want broad equity exposure. Choose SCHD if you want higher current income (3.28% vs 1.10% for SCHB).

Model this comparison:
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Income calculator

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

Schwab
ETFs33
Total AUM$612B

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 SCHB and SCHD.

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Quick verdict

SCHB (Schwab U.S. Broad Market 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 3.28% vs 1.10% for SCHB. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

SCHB is cheaper with an expense ratio of 0.03% compared to 0.06%.

They have different reference exposures: SCHB is linked to Dow Jones U.S. Broad Stock Market 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.

Who should choose each?

Choose SCHB

Schwab U.S. Broad Market ETF

  • Want broad equity exposure.
  • Want to keep costs low — a 0.03% expense ratio vs 0.06% for SCHD.

Choose SCHD

Schwab U.S. Dividend Equity ETF

  • Want higher current income — SCHD yields 3.28% vs 1.10% for SCHB.
  • Want a quality-dividend tilt — screened payers rather than the broad index.
  • Prefer lower volatility — a beta of 0.6 vs 1.0 for SCHB.

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, SCHB would generate roughly $27.50 cash per distribution, while SCHD would produce $82.00 cash per distribution, at current distribution rates. Both pay quarterly distributions.

SCHB yield1.10%
SCHD yield3.28%
Cash diff on $10K$54.50

Cost & efficiency

Over 10 years on $10,000, SCHB would cost approximately $30 in fees vs $60 for SCHD (simplified, not compounded). The $30.00 difference may be offset by yield or performance.

SCHB ER0.03%
SCHD ER0.06%

Strategy & risk

SCHB tracks Dow Jones U.S. Broad Stock Market Index with an index approach, while SCHD tracks Dow Jones U.S. Dividend 100 Index. Beta is 1.03 for SCHB and 0.56 for SCHD, making SCHD the less volatile of the two by this measure.

SCHB beta1.03
SCHD beta0.56

Fund details

SCHB is managed by Schwab (launched 11/03/2009) with $44.9B in assets. SCHD is managed by Schwab (launched 10/20/2011) with $110B in assets.

SCHB AUM$44.9B
SCHD AUM$110B
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Frequently asked questions

What is the current distribution rate for SCHB and SCHD?

SCHB currently distributes 1.10% and SCHD 3.28%, 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 SCHB 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 SCHB and SCHD?

SCHB (Schwab U.S. Broad Market ETF) tracks Dow Jones U.S. Broad Stock Market Index with an index approach, while SCHD (Schwab U.S. Dividend Equity ETF) tracks Dow Jones U.S. Dividend 100 Index. They are issued by Schwab and Schwab respectively.

Can I hold both SCHB 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 SCHB 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: SCHB scores 100, SCHD scores 100. Neither has a clear safety edge on that measure. SCHD has also shown lower price volatility (beta 0.56 vs 1.03 for SCHB). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, SCHB or SCHD?

SCHB has an expense ratio of 0.03% 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 SCHB vs SCHD generate?

At current rates, $10,000 in SCHB would generate roughly $27.50 cash per distribution ($110.00 annually). The same in SCHD would produce about $82.00 cash per distribution ($328.00 annually).

Which has performed better historically, SCHB or SCHD?

SCHB has lagged SCHD over the trailing twelve months, posting a 15.65% total return against 24.24%. The picture flips over 10 years, though — SCHB has compounded at 14.80% a year, ahead of SCHD at 12.52%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

SCHB vs SCHD — at a glance

Generated September 26, 2026.

Overview

SCHB and SCHD are both Schwab equity ETFs, but they track different markets. SCHB follows the broad U.S. stock market via the Dow Jones U.S. Broad Stock Market Index, capturing roughly 3,500 stocks across all market caps and sectors. SCHD tracks the Dow Jones U.S. Dividend 100 Index, a curated basket of 100 large-cap U.S. stocks selected for consistent dividend history and financial strength. The key distinction is breadth versus income: SCHB is a market-cap-weighted core holding; SCHD is a dividend-focused screen applied to large-cap equities.

How they differ

SCHB holds thousands of stocks across the entire market; SCHD holds 100 hand-selected dividend aristocrats. This structural difference drives everything else. SCHD yields 3.28% versus SCHB's 1.10%, a gap rooted in its explicit dividend selection rather than a broader market allocation. SCHD's 0.56 beta reflects lower volatility than the market-tracking 1.03 beta, suggesting that consistent dividend payers have historically moved less than the broad index. SCHD holds $110B in AUM versus SCHB's $44.9B, making SCHD the larger fund despite SCHB's earlier inception in 11/03/2009. Expense ratios are nearly identical—0.03% for SCHB and 0.06% for SCHD—so cost is not a differentiator.

Who each is best for

SCHB: Fits investors seeking the simplest core equity exposure, with no dividend screen or sector tilts. The broad-market approach captures growth, value, and cyclical stocks equally, ideal for a foundational U.S. equity allocation that doesn't demand income.

SCHD: Designed for investors who prioritize current income and smoother price movement. The dividend focus and lower beta appeal to those building a yield-generating portfolio or seeking to reduce drawdowns in their equity sleeve.

Key risks to know

  • Dividend-cut exposure in SCHD. While the Dividend 100 Index selects for consistency, it cannot prevent dividend reductions during economic downturns or sector stress. A sustained earnings decline could force dividend cuts among its 100 holdings, eroding both income and price.
  • Concentration in SCHD. Holding only 100 stocks exposes SCHD to larger single-name risk than SCHB's 3,500-stock portfolio. A significant earnings miss at one or two large dividend payers could have measurable impact on the fund's NAV.
  • Sector and style tilt in SCHD. The dividend screen overweights mature, lower-growth sectors (utilities, REITs, consumer staples) and underweights technology and high-growth industrials. This creates tracking risk if growth stocks outperform; the difference is a bet on dividend stocks specifically, not a passive market allocation.
  • Interest-rate sensitivity in both, steeper in SCHD. Dividend-paying stocks tend to be more interest-rate-sensitive than growth stocks, so SCHD's yield and price may compress if rates rise materially. SCHB faces the same pressure but across a broader, higher-growth mix that can offset it.

Bottom line

SCHB is the full-market analog; SCHD is a dividend-focused subset of large caps with lower volatility and triple the income. If you want market-cap-weighted U.S. equity exposure with minimal fees and no screens, SCHB delivers that directly. If you value current yield and are comfortable accepting lower growth exposure and higher dividend-cut risk in exchange for smoother returns, SCHD's lower beta and 3.28% distribution rate may align with your goals. Past performance does not predict future results.

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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These comparisons follow the Dividend Vision methodology.