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ETF Comparison

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

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

Updated September 30, 2026

How these figures are calculated: methodology.

Best for

  • SCHDInvestors who want higher current income (3.28% vs 1.96% for SCHV).
  • SCHVInvestors who want broad equity exposure.

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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.

SCHD has outpaced SCHV over the trailing twelve months, posting a 24.24% total return against 17.01%. The lead holds up over 10 years too: SCHD has compounded at 12.52% a year, against 11.07% for SCHV. 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
SCHD20.19%24.24%15.79%9.12%12.52%13.08%13.2%0.781.13-16.1%
SCHV12.97%17.01%18.70%10.31%11.07%12.07%12.8%0.991.44-15.3%

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.
MetricSCHDSCHV
Full nameSchwab U.S. Dividend Equity ETFSchwab U.S. Large-Cap Value ETF
IssuerSchwabSchwab
Underlying indexDow Jones U.S. Dividend 100 IndexDow Jones U.S. Large-Cap Value Total Stock Market Index
Last Close$32.53 as of September 30, 2026$33.31 as of September 30, 2026
Distribution rate3.28%1.96%
Trailing 12-month yield3.24%1.88%
Distribution Safety Score™ 100100
Safety-Adjusted Yield 3.28%1.96%
Expense ratio0.06%0.04%
AUM$110B$15.3B
Distribution frequencyQuarterlyQuarterly
ObjectiveSeeks 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.Tracks the Dow Jones U.S. Large-Cap Value Total Stock Market Index.
Asset classEquityEquity
Inception date10/20/201112/11/2009
Beta0.560.75
Last dividend$0.2665$0.163
Ex-dividend date09/23/202609/23/2026

Bottom lineChoose SCHD if you want higher current income (3.28% vs 1.96% for SCHV). Choose SCHV if you want broad equity exposure.

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 SCHD and SCHV.

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Quick verdict

SCHD (Schwab U.S. Dividend Equity ETF) and SCHV (Schwab U.S. Large-Cap Value ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

SCHD offers the higher yield at 3.28% vs 1.96% for SCHV. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

SCHV is cheaper with an expense ratio of 0.04% compared to 0.06%.

They have different reference exposures: SCHD is linked to Dow Jones U.S. Dividend 100 Index while SCHV is linked to Dow Jones U.S. Large-Cap Value Total Stock Market 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 SCHD

Schwab U.S. Dividend Equity ETF

  • Want higher current income — SCHD yields 3.28% vs 1.96% for SCHV.
  • Want a quality-dividend tilt — screened payers rather than the broad index.
  • Prefer lower volatility — a beta of 0.6 vs 0.8 for SCHV.

Choose SCHV

Schwab U.S. Large-Cap Value ETF

  • Want broad equity exposure.
  • Want to keep costs low — a 0.04% expense ratio vs 0.06% for SCHD.

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, SCHD would generate roughly $82.00 cash per distribution, while SCHV would produce $49.00 cash per distribution, at current distribution rates. Both pay quarterly distributions.

SCHD yield3.28%
SCHV yield1.96%
Cash diff on $10K$33.00

Cost & efficiency

Over 10 years on $10,000, SCHD would cost approximately $60 in fees vs $40 for SCHV (simplified, not compounded). The $20.00 difference may be offset by yield or performance.

SCHD ER0.06%
SCHV ER0.04%

Strategy & risk

SCHD tracks Dow Jones U.S. Dividend 100 Index, while SCHV tracks Dow Jones U.S. Large-Cap Value Total Stock Market Index. Beta is 0.56 for SCHD and 0.75 for SCHV, making SCHD the less volatile of the two by this measure.

SCHD beta0.56
SCHV beta0.75

Fund details

SCHD is managed by Schwab (launched 10/20/2011) with $110B in assets. SCHV is managed by Schwab (launched 12/11/2009) with $15.3B in assets.

SCHD AUM$110B
SCHV AUM$15.3B
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Frequently asked questions

What is the current distribution rate for SCHD and SCHV?

SCHD currently distributes 3.28% and SCHV 1.96%, 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 SCHD or SCHV 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 SCHD and SCHV?

SCHD (Schwab U.S. Dividend Equity ETF) tracks Dow Jones U.S. Dividend 100 Index, while SCHV (Schwab U.S. Large-Cap Value ETF) tracks Dow Jones U.S. Large-Cap Value Total Stock Market Index. They are issued by Schwab and Schwab respectively.

Can I hold both SCHD and SCHV?

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 SCHD or SCHV 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 100, SCHV scores 100. Neither has a clear safety edge on that measure. SCHD has also shown lower price volatility (beta 0.56 vs 0.75 for SCHV). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, SCHD or SCHV?

SCHD has an expense ratio of 0.06% while SCHV charges 0.04%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in SCHD would generate roughly $82.00 cash per distribution ($328.00 annually). The same in SCHV would produce about $49.00 cash per distribution ($196.00 annually).

Which has performed better historically, SCHD or SCHV?

SCHD has outpaced SCHV over the trailing twelve months, posting a 24.24% total return against 17.01%. The lead holds up over 10 years too: SCHD has compounded at 12.52% a year, against 11.07% for SCHV. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

SCHD vs SCHV — at a glance

Generated September 26, 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

SCHD and SCHV are both Schwab-issued equity ETFs tracking Dow Jones indexes, but they pursue fundamentally different selection criteria. SCHD targets the highest-dividend-yielding large-cap stocks with a consistent dividend history, evaluated for financial strength—a narrower, income-focused screen. SCHV tracks all large-cap value stocks meeting the Dow Jones large-cap value criteria, creating a broader value-tilted portfolio that includes dividend and non-dividend payers.

How they differ

The first and biggest difference is selection philosophy. SCHD applies a dividend-specific filter: it holds only the 100 highest-dividend-yielding U.S. stocks that show both a track record of dividend payments and relative financial strength. SCHV includes all large-cap value stocks that meet the index's value criteria—a much larger universe that may contain lower or zero-yield names. This shows up in yield: SCHD distributes 3.28%, while SCHV yields 1.96%.

Second, the funds' volatility profiles differ meaningfully. SCHD has a 0.56 beta, suggesting about 40% less volatility than the broad market, while SCHV's 0.75 beta indicates roughly 25% less. SCHD's lower beta likely reflects both its dividend focus (income-producing stocks tend to be more stable) and its concentration in the 100 highest-yielding names. SCHV's higher beta reflects exposure to the full large-cap value universe, which includes more cyclical holdings.

Third, SCHD is substantially larger, with $110B in assets versus $15.3B for SCHV, and both charge minimal fees—0.06% and 0.04% respectively. SCHD has been running since 10/20/2011, 14 years before SCHV's 12/11/2009 inception.

Who each is best for

SCHD: Fits income-focused investors who want to concentrate on the highest-yielding dividend-paying stocks with demonstrated reliability, accepting the trade-off of holding a narrower 100-stock basket in exchange for higher current yield and lower portfolio volatility.

SCHV: Designed for value-oriented investors seeking broad large-cap value exposure without an income requirement, willing to accept lower yield and slightly higher market sensitivity in exchange for a larger, more diversified value holding that may capture both dividend and non-dividend value opportunities.

Key risks to know

  • Dividend concentration risk: SCHD's 100-stock universe is substantially narrower than SCHV's large-cap value universe. A downturn affecting high-yielding sectors (utilities, REITs, energy) will hit SCHD more acutely than a broad value fund.
  • Yield sustainability: SCHD's 3.28% yield reflects current dividend payouts, not guaranteed future income. Dividend cuts or shifts in the 100 highest-yielding names could reduce payouts. SCHV's lower 1.96% yield carries less downside risk from dividend policy changes.
  • Sector overlap: Both funds' holdings may cluster in dividend-heavy sectors (utilities, industrials, financials, energy). Verify overlap in your portfolio before assuming they are independent bets.
  • Relative valuation timing: Value tilts and dividend concentrations can underperform extended growth rallies. SCHD's lower 0.56 may lag if market volatility declines and investors shift to higher-beta growth.

Bottom line

If your priority is maximizing current income from a curated dividend universe, SCHD's 3.28% yield and lower volatility stand out—though you accept concentration in 100 stocks. If you prefer broader large-cap value exposure without a dividend requirement, SCHV offers a larger asset base and more diversification at a lower yield. Past performance does not guarantee future results; dividend policies and sector leadership can shift.

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 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.