RAAA vs SCHD
RAAA vs SCHD
Reckoner Yield Enhanced AAA CLO ETF 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 | RAAA | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.06% | |
| AUM | $35M | $103.7B | |
| Dividend Yield | 4.78% | 3.31% | |
| Holdings | 46 | 104 | |
| YTD Return | +2.54% | +24.26% | |
| 1Y Return | +4.82% | +31.38% | |
| 3Y Return (annualized) | - | +15.08% | |
| 5Y Return (annualized) | - | +9.72% | |
| Volatility (annualized) | 1.2% | 13.6% | |
| Max Drawdown | -0.7% | -33.4% | |
| Fund Family | Reckoner Capital Management | Charles Schwab Asset Management | |
| Category | Fixed Income | Equity | |
| Inception | Jul 9, 2025 | Oct 20, 2011 |
RAAA vs SCHD Performance
Reckoner Yield Enhanced AAA CLO ETF (RAAA) is a ETF from Reckoner Capital Management and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year RAAA returned +4.82% while SCHD returned +31.38%. Year to date, RAAA is up 2.54% versus a gain of 24.26% for SCHD.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 1.2% for RAAA. 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 -0.7% for RAAA 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 0.34. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
RAAA charges 0.30% per year while SCHD charges 0.06%. On a $10,000 position that is $30 vs $6 annually, a gap of $24 per year that compounds over a long holding period. On income, RAAA currently yields 4.78% against 3.31% for SCHD.
Holdings Overlap
RAAA and SCHD share 0 holdings out of 106 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, RAAA or SCHD?
RAAA has an expense ratio of 0.30% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $24 per year of difference.
Which performed better, RAAA or SCHD?
Over the past year RAAA returned +4.82% vs +31.38% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (1 years), RAAA annualized +4.81% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, RAAA or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 1.2% for RAAA. Worst drawdown: RAAA -0.7% vs SCHD -33.4%.
Should I hold both RAAA and SCHD?
RAAA and SCHD have a monthly-return correlation of 0.34, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between RAAA and SCHD?
RAAA and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 106 unique securities.
Which pays a higher dividend, RAAA or SCHD?
RAAA yields 4.78% while SCHD yields 3.31%, so RAAA currently pays the higher dividend yield.
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