SCHD vs SPYI
SCHD vs SPYI
Schwab US Dividend Equity ETF vs NEOS S&P 500 High Income ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SPYI offers more diversification with 501 holdings.
Side-by-Side Comparison
| Metric | SCHD | SPYI | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 0.68% | |
| AUM | $103.7B | $10.8B | |
| Dividend Yield | 3.31% | 11.84% | |
| Holdings | 104 | 509 | |
| YTD Return | +24.08% | +2.76% | |
| 1Y Return | +31.88% | +10.56% | |
| 3Y Return (annualized) | +14.92% | +12.95% | |
| 5Y Return (annualized) | +9.85% | - | |
| Volatility (annualized) | 13.6% | 10.5% | |
| Max Drawdown | -33.4% | -16.5% | |
| Fund Family | Charles Schwab Asset Management | NEOS | |
| Category | Equity | Equity | |
| Inception | Oct 20, 2011 | Aug 29, 2022 |
SCHD vs SPYI Performance
Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management and NEOS S&P 500 High Income ETF (SPYI) is a ETF from NEOS. Over the past year SCHD returned +31.88% while SPYI returned +10.56%. Year to date, SCHD is up 24.08% versus a gain of 2.76% for SPYI.
Over three years, SCHD compounded at +14.92% per year against +12.95% for SPYI. Across the full 4-year window we track, SPYI has the edge at +13.23% annualized vs +11.39%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 10.5% for SPYI. 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 -33.4% for SCHD and -16.5% for SPYI. 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 0.62. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SCHD charges 0.06% per year while SPYI charges 0.68%. On a $10,000 position that is $6 vs $68 annually, a gap of $62 per year that compounds over a long holding period. On income, SCHD currently yields 3.31% against 11.84% for SPYI.
Holdings Overlap
SCHD and SPYI share 46 holdings out of 555 unique holdings combined, representing a 8.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SCHD | Weight in SPYI | Difference |
|---|---|---|---|
| UNH | 4.54% | 0.59% | 3.95% |
| MRK | 4.32% | 0.51% | 3.81% |
| ABT | 4.49% | 0.29% | 4.20% |
| PG | Pro | Pro | Pro |
| HD | Pro | Pro | Pro |
| KO | Pro | Pro | Pro |
| AMGN | Pro | Pro | Pro |
| CVX | Pro | Pro | Pro |
| TXN | Pro | Pro | Pro |
| PEP | Pro | Pro | Pro |
See all 10 holdings SCHD shares with SPYI Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, SCHD or SPYI?
SCHD has an expense ratio of 0.06% while SPYI charges 0.68%. SCHD is the cheaper option. On a $10,000 investment, that is $62 per year of difference.
Which performed better, SCHD or SPYI?
Over the past year SCHD returned +31.88% vs +10.56% for SPYI, so SCHD leads on 1-year performance. Over the longest common window we track (4 years), SCHD annualized +11.39% vs +13.23% for SPYI. Past performance does not guarantee future results.
Which is riskier, SCHD or SPYI?
SCHD has been the more volatile fund at 13.6% annualized versus 10.5% for SPYI. Worst drawdown: SCHD -33.4% vs SPYI -16.5%.
Should I hold both SCHD and SPYI?
SCHD and SPYI have a monthly-return correlation of 0.62, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SCHD and SPYI?
SCHD and SPYI share 46 common holdings with a 8.0% weight overlap. Combined, they hold 555 unique securities.
Which pays a higher dividend, SCHD or SPYI?
SCHD yields 3.31% while SPYI yields 11.84%, so SPYI currently pays the higher dividend yield.
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