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ETF Comparison

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

A head-to-head comparison of Schwab U.S. Dividend Equity ETF and Invesco S&P 500 Momentum ETF covering yield, cost, risk, and income potential.

Data updated August 14, 2026

Best for

  • SCHDInvestors who want higher current income (2.93% vs 0.64% for SPMO).
  • SPMOInvestors who want broad equity exposure.

Jump to the side-by-side numbers

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricSCHDSPMO
Full nameSchwab U.S. Dividend Equity ETFInvesco S&P 500 Momentum ETF
IssuerSchwabInvesco
Last Close$34.52 as of August 14, 2026$153.31 as of August 14, 2026
Distribution yield2.93%0.64%
Distribution Safety Score™ 10072
Expense ratio0.06%0.13%
AUM$106B$21.3B
Distribution frequencyQuarterlyQuarterly
Underlying indexDow Jones U.S. Dividend 100 IndexS&P 500 Momentum Index
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.Track the S&P 500 Momentum Index, providing factor exposure to the highest momentum names within the S&P 500.
Asset classEquityEquity
Inception date10/20/201110/09/2015
Beta0.561.33
Last dividend$0.2525$0.2450
Ex-dividend date06/24/202606/22/2026

Bottom lineChoose SCHD if you want higher current income (2.93% vs 0.64% for SPMO). Choose SPMO if you want broad equity exposure.

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Schwab
ETFs34
Total AUM$605B

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.

See all Schwab ETFs
Invesco
ETFs247
Total AUM$983B

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

Invesco is a major ETF provider known for offering a comprehensive lineup spanning multiple asset classes and investment strategies. The company specializes in income-focused products including dividend, covered call, and bond strategies, while also maintaining broad exposure across equity, factor-based, thematic, and ESG investing themes. Invesco's portfolio ranges from index-tracking funds to alternatives and specialized offerings like digital assets and BulletShares, making it one of the more expansive ETF families available to investors.

See our curated list of related YouTube videos on SPMO.

See all Invesco ETFs

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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

SCHD has lagged SPMO over the trailing twelve months, posting a 30.33% total return against 31.17%. The lead holds up over 10 years too: SPMO has compounded at 20.40% a year, against 12.94% for SCHD. SCHD has been the steadier holding, though — annualized volatility of 13.2% against 21.8% for SPMO. 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.
SymbolYTD1Y3Y5Y10YSince Oct 2015Volatility Sharpe Sortino Max drawdown
SCHD26.54%30.33%15.81%9.72%12.94%13.37%13.2%0.781.13-16.1%
SPMO28.67%31.17%38.77%21.32%20.40%19.57%21.8%1.311.92-20.1%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 14, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Oct 2015” measures every fund from October 12, 2015 — the youngest fund's first trading day — 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.

Quick verdict

SCHD (Schwab U.S. Dividend Equity ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

SCHD offers the higher yield at 2.93% vs 0.64% for SPMO. 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 0.13%.

They track different benchmarks: SCHD is linked to Dow Jones U.S. Dividend 100 Index while SPMO tracks S&P 500 Momentum Index, which means their performance drivers differ.

SCHD is the larger fund by assets ($106B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, SCHD would generate roughly $24.42/month, while SPMO would produce $5.33/month, at current distribution rates. Both pay quarterly distributions.

SCHD yield2.93%
SPMO yield0.64%
Monthly diff on $10K$19.08

Cost & efficiency

Over 10 years on $10,000, SCHD would cost approximately $60 in fees vs $130 for SPMO (simplified, not compounded). The $70.00 difference may be offset by yield or performance.

SCHD ER0.06%
SPMO ER0.13%

Strategy & risk

SCHD tracks Dow Jones U.S. Dividend 100 Index, while SPMO tracks S&P 500 Momentum Index with an index approach. Beta is 0.56 for SCHD and 1.33 for SPMO, indicating SCHD is less volatile relative to the market.

SCHD beta0.56
SPMO beta1.33

Fund details

SCHD is managed by Schwab (launched 10/20/2011) with $106B in assets. SPMO is managed by Invesco (launched 10/09/2015) with $21.3B in assets.

SCHD AUM$106B
SPMO AUM$21.3B
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Frequently asked questions

What is the current distribution yield for SCHD and SPMO?

SCHD currently distributes 2.93% and SPMO 0.64%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is SCHD or SPMO 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 SPMO?

SCHD (Schwab U.S. Dividend Equity ETF) tracks Dow Jones U.S. Dividend 100 Index, while SPMO (Invesco S&P 500 Momentum ETF) tracks S&P 500 Momentum Index with an index approach. They are issued by Schwab and Invesco respectively.

Can I hold both SCHD and SPMO?

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 SPMO safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — SCHD scores 100, SPMO scores 72, so SCHD's payout currently looks the more resilient of the two. SCHD has also shown lower price volatility (beta 0.56 vs 1.33 for SPMO). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, SCHD or SPMO?

SCHD has an expense ratio of 0.06% while SPMO charges 0.13%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in SCHD would generate roughly $24.42 per month ($293.00 annually). The same in SPMO would produce about $5.33 per month ($64.00 annually).

Which has performed better historically, SCHD or SPMO?

SCHD has lagged SPMO over the trailing twelve months, posting a 30.33% total return against 31.17%. The lead holds up over 10 years too: SPMO has compounded at 20.40% a year, against 12.94% for SCHD. SCHD has been the steadier holding, though — annualized volatility of 13.2% against 21.8% for SPMO. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

SCHD vs SPMO — at a glance

Generated August 15, 2026.

Overview

SCHD and SPMO are both large-cap U.S. equity ETFs, but they pursue fundamentally different strategies. SCHD targets high-dividend payers with a track record of consistent distributions and financial strength, screening 500+ dividend stocks down to 100. SPMO isolates the highest-momentum names within the S&P 500—stocks with the strongest recent price performance—and deliberately de-emphasizes or excludes dividend yield as a selection criterion.

How they differ

The single biggest difference is their underlying index and selection philosophy. SCHD builds from dividend history and balance-sheet quality; SPMO ranks purely on price momentum. This explains their income profiles: SCHD yields 2.93%, while SPMO yields just 0.64%. The second difference is volatility and market exposure. SPMO has a beta of 1.33, meaning it typically amplifies market moves by about a third; SCHD's beta of 0.56 suggests it moves at little more than half the market's pace—a structural feature of dividend stocks, which tend to be lower-volatility. Third, SPMO carries a higher expense ratio (0.13%) than SCHD (0.06%), though both are cheap; SCHD's $106B in assets under management dwarfs SPMO's $21.3B.

Who each is best for

  • SCHD: Fits investors seeking steady quarterly income from established blue-chip names and willing to accept below-market price appreciation in exchange for lower volatility and reduced portfolio swings.
  • SPMO: Designed for investors focused on capital gains and comfortable with higher price volatility in pursuit of exposure to strong recent market performers, with dividend income as a secondary benefit.

Key risks to know

  • Factor concentration: SPMO's momentum tilt may cluster exposure into a narrow cohort of overvalued, fast-moving stocks; if sentiment shifts, mean reversion can be sharp. SCHD's emphasis on dividend consistency may concentrate holdings in mature, slower-growth sectors.
  • Volatility and drawdown magnitude: SPMO's 1.33 beta means larger portfolio swings in downturns; a 20% market correction could translate to a 27% decline for SPMO, compared to roughly 11% for SCHD.
  • Dividend sustainability in SPMO: The fund's low yield reflects limited income reinvestment; holdings are selected for price strength, not earnings stability, so dividend cuts among top-momentum names could surprise income-seeking holders.
  • Valuation sensitivity for momentum exposure: Momentum strategies historically underperform in low-growth or rising-rate environments when investors rotate toward value; SPMO's performance is inversely correlated with periods when SCHD tends to shine.

Bottom line

If you prioritize steady income and portfolio stability, SCHD's dividend yield and low volatility stand out. If you're chasing capital appreciation and can tolerate sharp drawdowns, SPMO's momentum tilt offers different market exposure. The two funds' underlying strategies rarely move together—a reminder that the choice hinges on your time horizon and tolerance for price swings, not on which fund "wins" over time. Past performance doesn't 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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