ETF Comparison
SCHD vs SPYD: Which Is the Better Pick in 2026?
A head-to-head comparison of Schwab U.S. Dividend Equity ETF and SPDR Portfolio S&P 500 High Dividend ETF covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| SCHD | SPYD | |
|---|---|---|
| Full name | Schwab U.S. Dividend Equity ETF | SPDR Portfolio S&P 500 High Dividend ETF |
| Issuer | Schwab | State Street |
| Price | $30.51 | $45.35 |
| Distribution yield | 3.30% | 4.08% |
| Expense ratio | 0.06% | 0.07% |
| AUM | $85.9B | $7.5B |
| Distribution frequency | Quarterly | Quarterly |
| Underlying index | Dow Jones U.S. Dividend 100 Index | S&P 500 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. | Track the S&P 500 High Dividend Index, holding the highest-yielding stocks within the S&P 500. |
| Asset class | Equity | Equity |
| Inception date | 10/20/2011 | 10/21/2015 |
| Beta | 0.65 | 0.77 |
| Last dividend | $0.26 | $0.45 |
| 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 SPYD (SPDR Portfolio S&P 500 High Dividend 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.
SPYD offers the higher yield at 4.08% 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 0.07%.
They track different benchmarks: SCHD is linked to Dow Jones U.S. Dividend 100 Index while SPYD tracks S&P 500 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 SPYD would produce $34.00/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 $70 for SPYD (simplified, not compounded). The $10.00 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 SPYD tracks S&P 500 High Dividend Index using a track the s&p 500 high dividend index, holding the highest-yielding stocks within the s&p 500. strategy. Beta is 0.65 for SCHD and 0.77 for SPYD, indicating SCHD is less volatile relative to the market.
Fund details
SCHD is managed by Schwab (launched 10/20/2011) with $85.9B in assets. SPYD is managed by State Street (launched 10/21/2015) with $7.5B 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 SPYD better for dividend income?
It depends on your goals. SPYD 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 SPYD?
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 SPYD (SPDR Portfolio S&P 500 High Dividend ETF) tracks S&P 500 High Dividend Index with a track the s&p 500 high dividend index, holding the highest-yielding stocks within the s&p 500. approach. They are issued by Schwab and State Street respectively.
Can I hold both SCHD and SPYD?
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 SPYD?
SCHD has an expense ratio of 0.06% while SPYD charges 0.07%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in SCHD vs SPYD generate?
At current yields, $10,000 in SCHD would generate roughly $27.50 per month ($330.00 annually). The same in SPYD would produce about $34.00 per month ($408.00 annually).
More comparisons to explore
People also compare SCHD with
People also compare SPYD with
Popular comparisons
Go deeper
Use the full ETF Comparator to add more funds, view radar charts, and generate AI reports.