Dividend comparison

FXAIX vs SCHD: Which Is Better?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Fidelity 500 Index Fund and Schwab U.S. Dividend Equity ETF, side by side. Updated October 21, 2026.

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FXAIX vs SCHD: key differences
The short answer, from the latest data on this page.
  • Income. SCHD pays more income, yielding 3.04% over the last twelve months versus 1.04% for FXAIX. That is about $199 more a year on $10,000. Both pay quarterly.
  • Performance. Over the last 5 years, FXAIX returned 80.4% versus 57.9% for SCHD, with dividends reinvested. $10,000 would have grown to $18,039 in FXAIX and $15,790 in SCHD.
  • Risk. FXAIX has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -24.5%, against -16.8% for SCHD.
  • Diversification. SCHD holds 102 positions and FXAIX holds 100. The ten largest positions make up 37.8% of FXAIX and 41.7% of SCHD.
  • Overlap. At least 6% of the two portfolios overlap by weight, across 14 shared holdings. They mostly own different companies, so they can complement each other.
  • Dividend growth. SCHD grew its yearly payout 8.7% a year over the last 4 years, versus 7.0% for FXAIX.

Bottom line: FXAIX fits better if you care most about stronger 5-year returns. SCHD fits better if you care most about more income today, smaller drawdowns and faster dividend growth.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricFXAIX
Fidelity 500 Index Fund
SCHD
Schwab U.S. Dividend Equity ETF
Dividend yield (TTM)1.04%3.04%
Dividend / share (TTM)$2.80$1.05
Payout frequencyQuarterlyQuarterly
Last dividend$0.7130 on Oct 5, 2026$0.2665 on Sep 28, 2026
Ex-dividend dateOct 2, 2026Sep 23, 2026
Dividend growth (CAGR)7.0% over 4 yrs8.7% over 4 yrs
Price$268.06$34.69
Dividend growth streak4 years13 years
Beta1.000.58
Max drawdown (5Y)-24.5%-16.8%
Market cap$857.59B$98.31B
ExchangeNASDAQAMEX
Expense ratio—0.06%
Assets under management—$114.71B
Number of holdings100102
Top 10 concentration37.8%41.7%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

FXAIX

$8.71/mo

$104 /yr at 1.04% yield

SCHD

$25.32/mo

$304 /yr at 3.04% yield

Dividend history
Total dividends paid per share in each calendar year. FXAIX pays quarterly; SCHD pays quarterly.
YearFXAIXSCHD
2025$2.6480$1.0476
2024$2.5430$0.9944
2023$2.4010$0.8862
2022$2.2560$0.8540
2021$2.0190$0.7499
Strategy: Broad index
Low-cost funds that hold an entire market or index at market-cap weights and make no attempt to select securities. Return is the index return less a small fee, and dividends are a by-product of what the underlying companies choose to pay rather than an objective of the strategy. Differences between funds tracking the same index usually come down to fee, wrapper structure, share price and trading liquidity, not to holdings.

Current income is low and outside your control, so these need pairing with something else if the portfolio has to produce cash today.

What FXAIX vs SCHD actually do

SCHD
An index ETF holding about 100 US dividend payers screened for balance-sheet strength and a long payment record.

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

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $18,039 in FXAIX and $15,790 in SCHD.
PeriodFXAIXSCHD
1 month0.61%3.83%
3 months3.42%6.77%
Year to date12.76%29.59%
1 year14.54%33.01%
3 years87.63%66.22%
5 years80.39%57.90%
  • FXAIX
  • SCHD
73131189202120222023202420252026180158

Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • FXAIX
  • SCHD
0%5%10%15%20%Consumer Defensive20.1%Healthcare19.3%Technology16.0%Energy15.3%Financial Services9.2%Industrials7.3%Consumer Cyclical6.7%Communication Services6.0%Utilities0.1%Cash & Others0.0%
FXAIX vs SCHD holdings overlap
At least 6% overlap by weight, with 14 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
Largest shared holdingsFXAIX weightSCHD weight
CVXChevron Corp0.58%4.31%
MRKMerck & Co Inc0.55%3.85%
UNHUnitedHealth Group Inc0.53%4.14%
KOCoca-Cola Co/The0.52%4.30%
PGProcter & Gamble Co/The0.51%4.34%
HDHome Depot Inc/The0.49%3.95%
TXNTexas Instruments Inc0.36%4.40%
AMGNAmgen Inc0.35%3.90%
VZVerizon Communications Inc0.32%3.57%
ABTAbbott Laboratories0.29%3.83%
Top 10 holdings
Largest positions by portfolio weight.

FXAIX100 holdings total

NameWeight
NVDANVIDIA Corp8.08%
AAPLApple Inc7.03%
MSFTMicrosoft Corp5.69%
AMZNAmazon.com Inc3.84%
GOOGLAlphabet Inc Class A3.01%
AVGOBroadcom Inc2.65%
GOOGAlphabet Inc Class C2.40%
METAMeta Platforms Inc Class A1.90%
MUMicron Technology Inc1.63%
TSLATesla Inc1.56%

SCHD102 holdings total

NameWeight
TXNTEXAS INSTRUMENT4.40%
PGPROCTER & GAMBLE4.34%
CVXCHEVRON4.31%
KOCOCA-COLA4.30%
COPCONOCOPHILLIPS4.30%
QCOMQUALCOMM4.15%
UNHUNITEDHEALTH GROUP4.14%
HDHOME DEPOT3.95%
AMGNAMGEN INC3.90%
PEPPEPSICO3.86%

Quick verdict

FXAIX fits better if you care most about stronger 5-year returns. SCHD fits better if you care most about more income today, smaller drawdowns and faster dividend growth. Model the holding inside your real portfolio before deciding.

Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how FXAIX vs SCHD fits with the rest of your holdings. Free to start — no credit card required for the trial.
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Frequently asked questions

Is FXAIX or SCHD better for dividend income?
It depends on your goals. FXAIX currently yields 1.04% Trailing Twelve Months (TTM) while SCHD yields 3.04%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between FXAIX and SCHD?
Fidelity 500 Index Fund (FXAIX) is an ETF listed on NASDAQ. Schwab U.S. Dividend Equity ETF (SCHD) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which has performed better, FXAIX or SCHD?
Over the last 5 years, FXAIX has the higher total return with dividends reinvested: FXAIX returned 80.4% and SCHD returned 57.9%. Past performance does not predict future returns.
Which is riskier, FXAIX or SCHD?
Measured by the worst peak-to-trough decline over the last five years, FXAIX has been riskier: FXAIX fell as much as 24.5% and SCHD as much as 16.8%. Their betas are 1.00 and 0.58.
How much do FXAIX and SCHD overlap?
At least 6% of the two portfolios overlap by weight, across 14 shared holdings. The largest shared positions are CVX, MRK, UNH. Holding both still adds meaningful diversification.
How often do FXAIX and SCHD pay dividends?
Both pay quarterly. The most recent payments were $0.7130 for FXAIX and $0.2665 for SCHD.
How much income does $10,000 in FXAIX vs SCHD generate?
At current TTM yields, $10,000 in FXAIX would generate roughly $8.71 per month ($104 annually). The same amount in SCHD would produce about $25.32 per month ($304 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both FXAIX and SCHD?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare FXAIX vs SCHD with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how FXAIX and SCHD fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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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.