Dividend comparison

SCHD vs DGRO: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Schwab U.S. Dividend Equity ETF and iShares Core Dividend Growth ETF, side by side. Updated October 24, 2026.

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SCHD vs DGRO: key differences
The short answer, from the latest data on this page.
  • Fees. SCHD is cheaper at 0.06% a year versus 0.08% for DGRO. On $10,000 that is $2 a year less in fees.
  • Income. SCHD pays more income, yielding 2.99% over the last twelve months versus 1.88% for DGRO. That is about $111 more a year on $10,000. Both pay quarterly.
  • Performance. Over the last 5 years, DGRO returned 64.8% versus 60.9% for SCHD, with dividends reinvested. $10,000 would have grown to $16,477 in DGRO and $16,090 in SCHD.
  • Risk. DGRO has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -19.3%, against -16.8% for SCHD.
  • Diversification. DGRO holds 391 positions and SCHD holds 102.
  • Dividend growth. SCHD grew its yearly payout 8.7% a year over the last 4 years, versus 7.9% for DGRO.
  • Size. SCHD is the larger fund with $118.7 billion in assets, against $44.8 billion for DGRO.

Bottom line: SCHD fits better if you care most about lower fees and more income today. DGRO fits better if you care most about stronger 5-year returns and broader diversification.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricSCHD
Schwab U.S. Dividend Equity ETF
DGRO
iShares Core Dividend Growth ETF
Dividend yield (TTM)2.99%1.88%
Dividend / share (TTM)$1.05$1.49
Payout frequencyQuarterlyQuarterly
Last dividend$0.2665 on Sep 28, 2026$0.3850 on Sep 18, 2026
Ex-dividend dateSep 23, 2026Sep 15, 2026
Dividend growth (CAGR)8.7% over 4 yrs7.9% over 4 yrs
Price$35.27$79.65
Dividend growth streak13 years10 years
Beta0.580.67
Max drawdown (5Y)-16.8%-19.3%
Market cap$98.31B$43.96B
ExchangeAMEXAMEX
Expense ratio0.06%0.08%
Assets under management$118.70B$44.78B
Number of holdings102391
Top 10 concentration41.4%—
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

SCHD

$24.91/mo

$299 /yr at 2.99% yield

DGRO

$15.63/mo

$188 /yr at 1.88% yield

Dividend history
Total dividends paid per share in each calendar year. SCHD pays quarterly; DGRO pays quarterly.
YearSCHDDGRO
2025$1.0476$1.4506
2024$0.9944$1.3851
2023$0.8862$1.3159
2022$0.8540$1.1679
2021$0.7499$1.0718
Strategy: Dividend equity
Rules-based equity funds that screen for companies paying sustainable or rising dividends, aiming at income plus long-term share-price participation. The screen is what defines the fund: yield-ranked indexes deliver more cash now, dividend-growth indexes deliberately exclude the highest payers in favor of durability. Both approaches produce a sector mix that looks nothing like the broad market, typically heavier in financials, healthcare, staples and industrials.

Expect stretches of underperformance versus the broad market whenever leadership comes from the high-growth, low-yield companies these screens exclude.

What SCHD vs DGRO 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

DGRO
An iShares fund holding a wide set of US companies with a record of raising their dividends.

It tracks the Morningstar US Dividend Growth Index, which requires at least five consecutive years of dividend growth, a payout ratio under 75%, a positive earnings forecast, no REITs, and excludes the top 10% of the universe by yield. The five-year requirement is looser than VIG's ten, so the portfolio is broader, running to several hundred names. Holdings are weighted by the total dollar value of dividends paid rather than by market cap, which tilts weight toward the largest actual dividend payers rather than the largest companies.

Suits an investor who wants dividend growth with more names and a slightly higher starting yield than a stricter growth screen delivers. Less suitable for someone who wants concentrated exposure to only the longest-running dividend raisers.

Dividend growth, broad

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 23, 2021 would now be worth $16,090 in SCHD and $16,477 in DGRO.
PeriodSCHDDGRO
1 month5.98%4.10%
3 months8.39%3.17%
Year to date31.75%14.74%
1 year35.08%16.41%
3 years70.30%72.78%
5 years60.90%64.77%
  • SCHD
  • DGRO
80126171202120222023202420252026161165

Both series indexed to 100 on 2021-10-23 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.
  • SCHD
  • DGRO
0%6%12%18%24%Healthcare19.3%17.2%Technology16.0%19.5%Consumer Defensive20.1%12.2%Financial Services9.2%19.7%Energy15.3%5.8%Financials19.2%Industrials7.3%11.2%Information Technology17.8%Health Care17.4%Consumer Staples12.8%Other12.8%24.1%
Top 10 holdings
Largest positions by portfolio weight.

SCHD102 holdings total

NameWeight
PGPROCTER & GAMBLE4.41%
TXNTEXAS INSTRUMENT4.31%
KOCOCA-COLA4.25%
CVXCHEVRON4.21%
UNHUNITEDHEALTH GROUP4.18%
COPCONOCOPHILLIPS4.17%
HDHOME DEPOT4.04%
QCOMQUALCOMM4.00%
AMGNAMGEN INC3.97%
PEPPEPSICO3.88%

Quick verdict

SCHD fits better if you care most about lower fees and more income today. DGRO fits better if you care most about stronger 5-year returns and broader diversification. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is SCHD or DGRO better for dividend income?
It depends on your goals. SCHD currently yields 2.99% Trailing Twelve Months (TTM) while DGRO yields 1.88%. 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 SCHD and DGRO?
Schwab U.S. Dividend Equity ETF (SCHD) is an ETF listed on AMEX. iShares Core Dividend Growth ETF (DGRO) 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 is cheaper, SCHD or DGRO?
SCHD has the lower expense ratio. SCHD charges 0.06% a year and DGRO charges 0.08%, a difference of $2 a year on a $10,000 investment.
Which has performed better, SCHD or DGRO?
Over the last 5 years, DGRO has the higher total return with dividends reinvested: SCHD returned 60.9% and DGRO returned 64.8%. Past performance does not predict future returns.
Which is riskier, SCHD or DGRO?
Measured by the worst peak-to-trough decline over the last five years, DGRO has been riskier: SCHD fell as much as 16.8% and DGRO as much as 19.3%. Their betas are 0.58 and 0.67.
How often do SCHD and DGRO pay dividends?
Both pay quarterly. The most recent payments were $0.2665 for SCHD and $0.3850 for DGRO.
How much income does $10,000 in SCHD vs DGRO generate?
At current TTM yields, $10,000 in SCHD would generate roughly $24.91 per month ($299 annually). The same amount in DGRO would produce about $15.63 per month ($188 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SCHD and DGRO?
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 SCHD vs DGRO with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SCHD and DGRO 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.