Dividend comparison

SCHD vs SWPPX: Which Is Better?

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

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SCHD vs SWPPX: 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 0.98% for SWPPX. That is about $206 more a year on $10,000. SCHD pays quarterly, SWPPX pays annual.
  • Performance. Over the last 5 years, SWPPX returned 81.7% versus 57.9% for SCHD, with dividends reinvested. $10,000 would have grown to $18,168 in SWPPX and $15,790 in SCHD.
  • Risk. SWPPX has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -24.6%, against -16.8% for SCHD.
  • Dividend growth. SCHD grew its yearly payout 8.7% a year over the last 4 years, versus 6.0% for SWPPX.

Bottom line: SCHD fits better if you care most about more income today, smaller drawdowns and faster dividend growth. SWPPX 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
SWPPX
Schwab S&P 500 Index Fund- Select Shares
Dividend yield (TTM)3.04%0.98%
Dividend / share (TTM)$1.05$0.19
Payout frequencyQuarterlyAnnual
Last dividend$0.2665 on Sep 28, 2026$0.1946 on Dec 12, 2025
Ex-dividend dateSep 23, 2026Dec 12, 2025
Dividend growth (CAGR)8.7% over 4 yrs6.0% over 4 yrs
Price$34.69$19.93
Dividend growth streak13 years4 years
Beta0.581.01
Max drawdown (5Y)-16.8%-24.6%
Market cap$98.31B$148.68B
ExchangeAMEXNASDAQ
Expense ratio0.06%—
Assets under management$114.71B—
Number of holdings102—
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

SWPPX

$8.14/mo

$98 /yr at 0.98% yield

Dividend history
Total dividends paid per share in each calendar year. SCHD pays quarterly; SWPPX pays annual.
YearSCHDSWPPX
2025$1.0476$0.1946
2024$0.9944$0.1850
2023$0.8862$0.1743
2022$0.8540$0.1635
2021$0.7499$0.1540
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 SCHD vs SWPPX 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 $18,168 in SWPPX.
PeriodSCHDSWPPX
1 month3.83%0.86%
3 months6.77%3.86%
Year to date29.59%13.63%
1 year33.01%15.80%
3 years66.22%88.73%
5 years57.90%81.68%
  • SCHD
  • SWPPX
74132190202120222023202420252026158182

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

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Frequently asked questions

Is SCHD or SWPPX better for dividend income?
It depends on your goals. SCHD currently yields 3.04% Trailing Twelve Months (TTM) while SWPPX yields 0.98%. 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 SWPPX?
Schwab U.S. Dividend Equity ETF (SCHD) is an ETF listed on AMEX. Schwab S&P 500 Index Fund- Select Shares (SWPPX) is an ETF listed on NASDAQ. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which has performed better, SCHD or SWPPX?
Over the last 5 years, SWPPX has the higher total return with dividends reinvested: SCHD returned 57.9% and SWPPX returned 81.7%. Past performance does not predict future returns.
Which is riskier, SCHD or SWPPX?
Measured by the worst peak-to-trough decline over the last five years, SWPPX has been riskier: SCHD fell as much as 16.8% and SWPPX as much as 24.6%. Their betas are 0.58 and 1.01.
How often do SCHD and SWPPX pay dividends?
SCHD pays quarterly and SWPPX pays annual.
How much income does $10,000 in SCHD vs SWPPX generate?
At current TTM yields, $10,000 in SCHD would generate roughly $25.32 per month ($304 annually). The same amount in SWPPX would produce about $8.14 per month ($98 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SCHD and SWPPX?
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 SWPPX with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SCHD and SWPPX 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.