ETF Comparison
SCHD vs SPHD: Which Is the Better Pick in 2026?
A head-to-head comparison of Schwab U.S. Dividend Equity ETF and Invesco S&P 500 High Dividend Low Volatility ETF covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| SCHD | SPHD | |
|---|---|---|
| Full name | Schwab U.S. Dividend Equity ETF | Invesco S&P 500 High Dividend Low Volatility ETF |
| Issuer | Schwab | Invesco |
| Price | $30.51 | $49.43 |
| Distribution yield | 3.30% | 3.94% |
| Expense ratio | 0.06% | 0.30% |
| AUM | $85.9B | $3.4B |
| Distribution frequency | Quarterly | Monthly |
| Underlying index | Dow Jones U.S. Dividend 100 Index | S&P 500 Low Volatility High Dividend Index |
| Objective | 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. | Dividend Income |
| Asset class | Equity | Equity |
| Inception date | 10/20/2011 | — |
| Beta | 0.65 | 0.58 |
| Last dividend | $0.26 | $0.21 |
| Ex-dividend date | 03/25/2026 | 03/23/2026 |
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
SCHD (Schwab U.S. Dividend Equity ETF) and SPHD (Invesco S&P 500 High Dividend Low Volatility ETF) are both popular quarterly-pay 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. ETFs, but they take different approaches.
SPHD offers the higher yield at 3.94% vs 3.30% 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 0.30%.
They track different benchmarks: SCHD is linked to Dow Jones U.S. Dividend 100 Index while SPHD tracks S&P 500 Low Volatility High Dividend Index, which means their performance drivers differ.
SCHD is the larger fund by assets ($85.9B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, SCHD would generate roughly $27.50/month while SPHD would produce $32.83/month at current distribution rates. Both pay quarterly distributions.
Cost & efficiency
Over 10 years on $10,000, SCHD would cost approximately $60 in fees vs $300 for SPHD (simplified, not compounded). The $240.00 difference may be offset by yield or performance.
Strategy & risk
SCHD tracks Dow Jones U.S. Dividend 100 Index with a 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. approach, while SPHD tracks S&P 500 Low Volatility High Dividend Index using a dividend income strategy. Beta is 0.65 for SCHD and 0.58 for SPHD, indicating SPHD is less volatile relative to the market.
Fund details
SCHD is managed by Schwab (launched 10/20/2011) with $85.9B in assets. SPHD is managed by Invesco (launched —) with $3.4B in assets.
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Frequently asked questions
Is SCHD or SPHD better for dividend income?
It depends on your goals. SPHD 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 SPHD?
SCHD (Schwab U.S. Dividend Equity ETF) tracks Dow Jones U.S. Dividend 100 Index with a 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. strategy, while SPHD (Invesco S&P 500 High Dividend Low Volatility ETF) tracks S&P 500 Low Volatility High Dividend Index with a dividend income approach. They are issued by Schwab and Invesco respectively.
Can I hold both SCHD and SPHD?
Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.
Which has lower fees, SCHD or SPHD?
SCHD has an expense ratio of 0.06% while SPHD charges 0.30%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in SCHD vs SPHD generate?
At current yields, $10,000 in SCHD would generate roughly $27.50 per month ($330.00 annually). The same in SPHD would produce about $32.83 per month ($394.00 annually).
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