SCHD vs TMSL
SCHD vs TMSL
Schwab US Dividend Equity ETF vs T. Rowe Price Small-Mid Cap ETF
Quick Verdict
SCHD has a lower expense ratio. TMSL delivered stronger 1-year returns. TMSL offers more diversification with 162 holdings.
Side-by-Side Comparison
| Metric | SCHD | TMSL | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 0.55% | |
| AUM | $103.7B | $2.8B | |
| Dividend Yield | 3.31% | 0.49% | |
| Holdings | 104 | 347 | |
| YTD Return | +23.53% | +20.33% | |
| 1Y Return | +30.95% | +33.05% | |
| 3Y Return (annualized) | +14.72% | +19.16% | |
| 5Y Return (annualized) | +9.56% | - | |
| Volatility (annualized) | 13.6% | 16.7% | |
| Max Drawdown | -33.4% | -24.7% | |
| Fund Family | Charles Schwab Asset Management | T.Rowe Price | |
| Category | Equity | Equity | |
| Inception | Oct 20, 2011 | Jun 14, 2023 |
SCHD vs TMSL Performance
Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management and T. Rowe Price Small-Mid Cap ETF (TMSL) is a ETF from T.Rowe Price. Over the past year SCHD returned +30.95% while TMSL returned +33.05%. Year to date, SCHD is up 23.53% versus a gain of 20.33% for TMSL.
Over three years, SCHD compounded at +14.72% per year against +19.16% for TMSL. Across the full 3-year window we track, TMSL has the edge at +19.57% annualized vs +11.35%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TMSL has been the more volatile fund, with annualized monthly volatility of 16.7% compared with 13.6% for SCHD. 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 -24.7% for TMSL. 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 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SCHD charges 0.06% per year while TMSL charges 0.55%. On a $10,000 position that is $6 vs $55 annually, a gap of $49 per year that compounds over a long holding period. On income, SCHD currently yields 3.31% against 0.49% for TMSL.
Holdings Overlap
SCHD and TMSL share 0 holdings out of 262 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, SCHD or TMSL?
SCHD has an expense ratio of 0.06% while TMSL charges 0.55%. SCHD is the cheaper option. On a $10,000 investment, that is $49 per year of difference.
Which performed better, SCHD or TMSL?
Over the past year SCHD returned +30.95% vs +33.05% for TMSL, so TMSL leads on 1-year performance. Over the longest common window we track (3 years), SCHD annualized +11.35% vs +19.57% for TMSL. Past performance does not guarantee future results.
Which is riskier, SCHD or TMSL?
TMSL has been the more volatile fund at 16.7% annualized versus 13.6% for SCHD. Worst drawdown: SCHD -33.4% vs TMSL -24.7%.
Should I hold both SCHD and TMSL?
SCHD and TMSL have a monthly-return correlation of 0.72, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SCHD and TMSL?
SCHD and TMSL share 0 common holdings with a 0.0% weight overlap. Combined, they hold 262 unique securities.
Which pays a higher dividend, SCHD or TMSL?
SCHD yields 3.31% while TMSL yields 0.49%, so SCHD currently pays the higher dividend yield.
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