Dividend comparison

SCHD vs DLN: Which Is Better for Income?

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

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SCHD vs DLN: key differences
The short answer, from the latest data on this page.
  • Fees. SCHD is cheaper at 0.06% a year versus 0.28% for DLN. On $10,000 that is $22 a year less in fees.
  • Income. SCHD pays more income, yielding 3.04% over the last twelve months versus 1.73% for DLN. That is about $131 more a year on $10,000. SCHD pays quarterly, DLN pays monthly.
  • Performance. Over the last 5 years, DLN returned 77.7% versus 57.9% for SCHD, with dividends reinvested. $10,000 would have grown to $17,769 in DLN and $15,790 in SCHD.
  • Risk. Their worst declines over the last 5 years were similar: -16.8% for SCHD and -16.3% for DLN from peak to trough.
  • Diversification. DLN holds 305 positions and SCHD holds 102.
  • Dividend growth. SCHD grew its yearly payout 8.7% a year over the last 4 years, versus 5.6% for DLN.
  • Size. SCHD is the larger fund with $114.7 billion in assets, against $6.3 billion for DLN.

Bottom line: SCHD fits better if you care most about lower fees, more income today and faster dividend growth. DLN 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
DLN
WisdomTree U.S. LargeCap Dividend Fund
Dividend yield (TTM)3.04%1.73%
Dividend / share (TTM)$1.05$1.74
Payout frequencyQuarterlyMonthly
Last dividend$0.2665 on Sep 28, 2026$0.1950 on Sep 29, 2026
Ex-dividend dateSep 23, 2026Sep 25, 2026
Dividend growth (CAGR)8.7% over 4 yrs5.6% over 4 yrs
Price$34.69$100.11
Dividend growth streak13 years—
Beta0.580.75
Max drawdown (5Y)-16.8%-16.3%
Market cap$98.31B$6.31B
ExchangeAMEXAMEX
Expense ratio0.06%0.28%
Assets under management$114.71B$6.29B
Number of holdings102305
Top 10 concentration41.7%—
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

SCHD

$25.32/mo

$304 /yr at 3.04% yield

DLN

$14.44/mo

$173 /yr at 1.73% yield

Dividend history
Total dividends paid per share in each calendar year. SCHD pays quarterly; DLN pays monthly.
YearSCHDDLN
2025$1.0476$1.6805
2024$0.9944$1.5534
2023$0.8862$1.6150
2022$0.8540$1.5650
2021$0.7499$1.3531
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 DLN 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 $15,790 in SCHD and $17,769 in DLN.
PeriodSCHDDLN
1 month3.83%1.54%
3 months6.77%3.27%
Year to date29.59%15.16%
1 year33.01%16.87%
3 years66.22%74.65%
5 years57.90%77.69%
  • SCHD
  • DLN
82134187202120222023202420252026158178

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.
  • SCHD
  • DLN
0%6%11%17%23%Technology16.0%22.5%Healthcare19.3%14.0%Consumer Defensive20.1%8.8%Financial Services9.2%17.1%Energy15.3%8.2%Industrials7.3%7.3%Communication Services6.0%8.3%Consumer Cyclical6.7%4.2%Utilities0.1%4.9%Real Estate3.6%Other0.0%1.0%
Top 10 holdings
Largest positions by portfolio weight.

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

SCHD fits better if you care most about lower fees, more income today and faster dividend growth. DLN 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 DLN better for dividend income?
It depends on your goals. SCHD currently yields 3.04% Trailing Twelve Months (TTM) while DLN yields 1.73%. 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 DLN?
Schwab U.S. Dividend Equity ETF (SCHD) is an ETF listed on AMEX. WisdomTree U.S. LargeCap Dividend Fund (DLN) 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 DLN?
SCHD has the lower expense ratio. SCHD charges 0.06% a year and DLN charges 0.28%, a difference of $22 a year on a $10,000 investment.
Which has performed better, SCHD or DLN?
Over the last 5 years, DLN has the higher total return with dividends reinvested: SCHD returned 57.9% and DLN returned 77.7%. Past performance does not predict future returns.
Which is riskier, SCHD or DLN?
Measured by the worst peak-to-trough decline over the last five years, SCHD has been riskier: SCHD fell as much as 16.8% and DLN as much as 16.3%. Their betas are 0.58 and 0.75.
How often do SCHD and DLN pay dividends?
SCHD pays quarterly and DLN pays monthly.
How much income does $10,000 in SCHD vs DLN generate?
At current TTM yields, $10,000 in SCHD would generate roughly $25.32 per month ($304 annually). The same amount in DLN would produce about $14.44 per month ($173 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SCHD and DLN?
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 DLN with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SCHD and DLN 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.