Dividend comparison

SCHD vs HDV: 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 High Dividend ETF, side by side. Updated October 21, 2026.

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SCHD vs HDV: 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 HDV. On $10,000 that is $2 a year less in fees.
  • Income. SCHD pays more income, yielding 3.04% over the last twelve months versus 2.83% for HDV. That is about $21 more a year on $10,000. Both pay quarterly.
  • Performance. Over the last 5 years, HDV returned 82.2% versus 57.9% for SCHD, with dividends reinvested. $10,000 would have grown to $18,215 in HDV and $15,790 in SCHD.
  • Risk. Their worst declines over the last 5 years were similar: -16.8% for SCHD and -15.4% for HDV from peak to trough.
  • Diversification. SCHD holds 102 positions and HDV holds 74. The ten largest positions make up 41.7% of SCHD and 57.4% of HDV.
  • Overlap. 52% of the two portfolios overlap by weight, across 30 shared holdings.
  • Dividend growth. SCHD grew its yearly payout 8.7% a year over the last 4 years, versus 2.8% for HDV.
  • Size. SCHD is the larger fund with $114.7 billion in assets, against $15.5 billion for HDV.

Bottom line: SCHD fits better if you care most about lower fees and faster dividend growth. HDV fits better if you care most about stronger 5-year returns.

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
HDV
iShares Core High Dividend ETF
Dividend yield (TTM)3.04%2.83%
Dividend / share (TTM)$1.05$0.85
Payout frequencyQuarterlyQuarterly
Last dividend$0.2665 on Sep 28, 2026$0.0560 on Sep 21, 2026
Ex-dividend dateSep 23, 2026Sep 16, 2026
Dividend growth (CAGR)8.7% over 4 yrs2.8% over 4 yrs
Price$34.69$30.11
Dividend growth streak13 years—
Beta0.580.30
Max drawdown (5Y)-16.8%-15.4%
Market cap$98.31B$15.63B
ExchangeAMEXAMEX
Expense ratio0.06%0.08%
Assets under management$114.71B$15.52B
Number of holdings10274
Top 10 concentration41.7%57.4%
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

HDV

$23.58/mo

$283 /yr at 2.83% yield

Dividend history
Total dividends paid per share in each calendar year. SCHD pays quarterly; HDV pays quarterly.
YearSCHDHDV
2025$1.0476$0.7821
2024$0.9944$0.8230
2023$0.8862$0.7787
2022$0.8540$0.7431
2021$0.7499$0.7016
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 HDV 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 $18,215 in HDV.
PeriodSCHDHDV
1 month3.83%4.77%
3 months6.77%7.46%
Year to date29.59%26.57%
1 year33.01%26.83%
3 years66.22%70.79%
5 years57.90%82.15%
  • SCHD
  • HDV
82136190202120222023202420252026158182

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
  • HDV
0%7%13%20%27%Healthcare19.3%25.1%Consumer Defensive20.1%23.1%Energy15.3%24.8%Consumer Staples27.0%Technology16.0%1.1%Consumer Cyclical6.7%8.3%Financial Services9.2%4.7%Health Care13.6%Communication Services6.0%5.8%Utilities0.1%10.9%Other7.3%24.8%
SCHD vs HDV holdings overlap
52% overlap by weight, with 30 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 holdingsSCHD weightHDV weight
PGPROCTER & GAMBLE4.34%5.49%
CVXCHEVRON4.31%7.21%
KOCOCA-COLA4.30%4.43%
HDHOME DEPOT3.95%4.52%
PEPPEPSICO3.86%3.95%
MRKMERCK & CO INC3.85%4.45%
VZVERIZON COMMUNICATIONS INC3.57%5.22%
MOALTRIA GROUP INC3.05%3.84%
BMYBRISTOL MYERS SQUIBB2.96%2.68%
AMGNAMGEN INC3.90%2.67%
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%

HDV74 holdings total

NameWeight
XOMEXXONMOBIL HOLDINGS CORP9.54%
CVXCHEVRON7.21%
ABBVABBVIE6.79%
PGPROCTER & GAMBLE5.49%
VZVERIZON COMMUNICATIONS INC5.22%
PMPHILIP MORRIS INTERNATIONAL5.08%
PFEPFIZER4.72%
HDHOME DEPOT4.52%
MRKMERCK & CO INC4.45%
KOCOCA-COLA4.43%

Quick verdict

SCHD fits better if you care most about lower fees and faster dividend growth. HDV fits better if you care most about stronger 5-year returns. Model the holding inside your real portfolio before deciding.

Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how SCHD vs HDV 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 SCHD or HDV better for dividend income?
It depends on your goals. SCHD currently yields 3.04% Trailing Twelve Months (TTM) while HDV yields 2.83%. 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 HDV?
Schwab U.S. Dividend Equity ETF (SCHD) is an ETF listed on AMEX. iShares Core High Dividend ETF (HDV) 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 HDV?
SCHD has the lower expense ratio. SCHD charges 0.06% a year and HDV charges 0.08%, a difference of $2 a year on a $10,000 investment.
Which has performed better, SCHD or HDV?
Over the last 5 years, HDV has the higher total return with dividends reinvested: SCHD returned 57.9% and HDV returned 82.2%. Past performance does not predict future returns.
Which is riskier, SCHD or HDV?
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 HDV as much as 15.4%. Their betas are 0.58 and 0.30.
How much do SCHD and HDV overlap?
About 52% of the two portfolios overlap by weight, across 30 shared holdings. The largest shared positions are PG, CVX, KO. Holding both still adds meaningful diversification.
How often do SCHD and HDV pay dividends?
Both pay quarterly. The most recent payments were $0.2665 for SCHD and $0.0560 for HDV.
How much income does $10,000 in SCHD vs HDV generate?
At current TTM yields, $10,000 in SCHD would generate roughly $25.32 per month ($304 annually). The same amount in HDV would produce about $23.58 per month ($283 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SCHD and HDV?
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 HDV with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SCHD and HDV 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.