Dividend comparison
DIVO vs SCHD: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Amplify CWP Enhanced Dividend Income ETF and Schwab U.S. Dividend Equity ETF, side by side. Updated October 24, 2026.
- Fees. SCHD is cheaper at 0.06% a year versus 0.56% for DIVO. On $10,000 that is $50 a year less in fees.
- Income. DIVO pays more income, yielding 6.34% over the last twelve months versus 2.99% for SCHD. That is about $335 more a year on $10,000. Both pay quarterly.
- Performance. Over the last 5 years, SCHD returned 60.9% versus 57.1% for DIVO, with dividends reinvested. $10,000 would have grown to $16,090 in SCHD and $15,710 in DIVO.
- Risk. SCHD has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -16.8%, against -13.7% for DIVO.
- Diversification. SCHD holds 102 positions and DIVO holds 34.
- Dividend growth. DIVO grew its yearly payout 11.9% a year over the last 4 years, versus 8.7% for SCHD.
- Size. SCHD is the larger fund with $118.7 billion in assets, against $8.1 billion for DIVO.
Bottom line: DIVO fits better if you care most about more income today, smaller drawdowns and faster dividend growth. SCHD fits better if you care most about lower fees, stronger 5-year returns and broader diversification.
| Metric | DIVO Amplify CWP Enhanced Dividend Income ETF | SCHD Schwab U.S. Dividend Equity ETF |
|---|---|---|
| Dividend yield (TTM) | 6.34% | 2.99% |
| Dividend / share (TTM) | $3.02 | $1.05 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.1890 on Sep 30, 2026 | $0.2665 on Sep 28, 2026 |
| Ex-dividend date | Sep 29, 2026 | Sep 23, 2026 |
| Dividend growth (CAGR) | 11.9% over 4 yrs | 8.7% over 4 yrs |
| Price | $47.57 | $35.27 |
| Dividend growth streak | 3 years | 13 years |
| Beta | 0.56 | 0.58 |
| Max drawdown (5Y) | -13.7% | -16.8% |
| Market cap | $8.01B | $98.31B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.56% | 0.06% |
| Assets under management | $8.09B | $118.70B |
| Number of holdings | 34 | 102 |
| Top 10 concentration | — | 41.4% |
DIVO
$52.85/mo
$634 /yr at 6.34% yield
SCHD
$24.91/mo
$299 /yr at 2.99% yield
| Year | DIVO | SCHD |
|---|---|---|
| 2025 | $2.8660 | $1.0476 |
| 2024 | $1.9013 | $0.9944 |
| 2023 | $1.7085 | $0.8862 |
| 2022 | $1.7074 | $0.8540 |
| 2021 | $1.8280 | $0.7499 |
Payouts are variable rather than contractual, are often taxed as ordinary income, and a fund that pays out more than the strategy earns will see its net asset value drift down over time.
What DIVO vs SCHD actually do
The manager runs a hand-picked book of roughly 20 to 30 large-cap dividend stocks rather than tracking an index. Instead of keeping every position covered, calls are written tactically on single names, typically when a holding has run up or its implied volatility is elevated. That preserves far more upside than a blanket index overwrite, but it makes option income lumpy and puts the outcome on manager judgment rather than a published rule.
Suits an investor who wants dividend income lifted by option premium without surrendering most of the appreciation. Less suitable for anyone who wants a fully rules-based product, the lowest fee, or the highest available distribution rate.
Moderate income with growth
It tracks the Dow Jones U.S. Dividend 100 Index, which first requires at least ten consecutive years of dividends, then ranks the survivors on a composite of cash flow to total debt, return on equity, dividend yield and five-year dividend growth. The top 100 are held at market-cap weights with a 4% cap per stock and 25% per sector, reconstituted annually and rebalanced quarterly. Those quality screens push the portfolio toward mature value sectors and largely out of high-growth technology, which is the single biggest reason its return diverges from the S&P 500 in either direction.
Suits an investor who wants a growing dividend stream plus share-price participation and can sit out technology-led rallies without changing course. Not a match for someone who needs the highest available current yield or wants full market exposure.
Core dividend holding
| Period | DIVO | SCHD |
|---|---|---|
| 1 month | 1.02% | 5.98% |
| 3 months | 2.35% | 8.39% |
| Year to date | 6.90% | 31.75% |
| 1 year | 6.90% | 35.08% |
| 3 years | 53.70% | 70.30% |
| 5 years | 57.10% | 60.90% |
- DIVO
- SCHD
Both series indexed to 100 on 2021-10-23 using the adjusted closing price series. Past performance does not guarantee future results.
- DIVO
- SCHD
Quick verdict
DIVO fits better if you care most about more income today, smaller drawdowns and faster dividend growth. SCHD fits better if you care most about lower fees, stronger 5-year returns and broader diversification. Model the holding inside your real portfolio before deciding.
Frequently asked questions
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.