PIM vs SCHD
PIM vs SCHD
Putnam Master Intermediate Income Trust vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SCHD offers more diversification with 100 holdings.
Side-by-Side Comparison
| Metric | PIM | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 1.01% | 0.06% | |
| AUM | $1,493.58 | $103.7B | |
| Dividend Yield | 7.79% | 3.31% | |
| Holdings | 775 | 104 | |
| YTD Return | -1.56% | +22.69% | |
| 1Y Return | +1.56% | +30.94% | |
| 3Y Return (annualized) | +7.58% | +14.20% | |
| 5Y Return (annualized) | +2.18% | +9.59% | |
| Volatility (annualized) | 10.7% | 13.7% | |
| Max Drawdown | -59.0% | -33.4% | |
| Fund Family | Putnam Investments | Charles Schwab Asset Management | |
| Category | Fixed Income | Equity | |
| Inception | Apr 29, 1988 | Oct 20, 2011 |
PIM vs SCHD Performance
Putnam Master Intermediate Income Trust (PIM) is a ETF from Putnam Investments and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year PIM returned +1.56% while SCHD returned +30.94%. Year to date, PIM is down 1.56% versus a gain of 22.69% for SCHD.
Over three years, PIM compounded at +7.58% per year against +14.20% for SCHD; over five years the annualized figures are +2.18% and +9.59% respectively. Across the full 15-year window we track, SCHD has the edge at +11.31% annualized vs -1.48%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.7% compared with 10.7% for PIM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -59.0% for PIM and -33.4% for SCHD. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.56. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PIM charges 1.01% per year while SCHD charges 0.06%. On a $10,000 position that is $101 vs $6 annually, a gap of $95 per year that compounds over a long holding period. On income, PIM currently yields 7.79% against 3.31% for SCHD.
Holdings Overlap
PIM and SCHD share 0 holdings out of 103 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PIM or SCHD?
PIM has an expense ratio of 1.01% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $95 per year of difference.
Which performed better, PIM or SCHD?
Over the past year PIM returned +1.56% vs +30.94% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), PIM annualized -1.48% vs +11.31% for SCHD. Past performance does not guarantee future results.
Which is riskier, PIM or SCHD?
SCHD has been the more volatile fund at 13.7% annualized versus 10.7% for PIM. Worst drawdown: PIM -59.0% vs SCHD -33.4%.
Should I hold both PIM and SCHD?
PIM and SCHD have a monthly-return correlation of 0.56, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PIM and SCHD?
PIM and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 103 unique securities.
Which pays a higher dividend, PIM or SCHD?
PIM yields 7.79% while SCHD yields 3.31%, so PIM currently pays the higher dividend yield.
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