Dividend comparison
VO vs SCHM: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Vanguard Morningstar Mid-Cap ETF and Schwab U.S. Mid-Cap ETF, side by side. Updated October 21, 2026.
VO vs SCHM: key differences
The short answer, from the latest data on this page.
- Fees. Both charge about 0.03% a year, so cost is not what separates them.
- Income. Their trailing yields are almost the same: 1.36% for VO and 1.29% for SCHM. VO pays annual, SCHM pays quarterly.
- Performance. Over the last 5 years, VO returned 38.7% versus 38.1% for SCHM, with dividends reinvested. $10,000 would have grown to $13,870 in VO and $13,814 in SCHM.
- Risk. Their worst declines over the last 5 years were similar: -27.6% for VO and -26.5% for SCHM from peak to trough.
- Diversification. SCHM holds 504 positions and VO holds 307. The ten largest positions make up 9.7% of VO and 12.3% of SCHM.
- Overlap. At least 3% of the two portfolios overlap by weight, across 4 shared holdings. They mostly own different companies, so they can complement each other.
- Dividend growth. VO grew its yearly payout 11.5% a year over the last 4 years, versus 10.8% for SCHM.
- Size. VO is the larger fund with $216.5 billion in assets, against $14.5 billion for SCHM.
Bottom line: SCHM has the edge on these figures, with broader diversification. VO does not lead on any of the measures compared here.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | VO Vanguard Morningstar Mid-Cap ETF | SCHM Schwab U.S. Mid-Cap ETF |
|---|---|---|
| Dividend yield (TTM) | 1.36% | 1.29% |
| Dividend / share (TTM) | $1.10 | $0.44 |
| Payout frequency | Annual | Quarterly |
| Last dividend | $0.2899 on Sep 30, 2026 | $0.1287 on Sep 28, 2026 |
| Ex-dividend date | Sep 28, 2026 | Sep 23, 2026 |
| Dividend growth (CAGR) | 11.5% over 4 yrs | 10.8% over 4 yrs |
| Price | $80.93 | $34.59 |
| Dividend growth streak | 4 years | 5 years |
| Beta | 1.00 | 1.06 |
| Max drawdown (5Y) | -27.6% | -26.5% |
| Market cap | $216.50B | $14.46B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.03% | 0.03% |
| Assets under management | $216.50B | $14.46B |
| Number of holdings | 307 | 504 |
| Top 10 concentration | 9.7% | 12.3% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
VO
$11.34/mo
$136 /yr at 1.36% yield
SCHM
$10.71/mo
$129 /yr at 1.29% yield
Dividend history
Total dividends paid per share in each calendar year. VO pays annual; SCHM pays quarterly.
| Year | VO | SCHM |
|---|---|---|
| 2025 | $1.1052 | $0.4380 |
| 2024 | $0.9856 | $0.3967 |
| 2023 | $0.8837 | $0.3771 |
| 2022 | $0.8166 | $0.3967 |
| 2021 | $0.7156 | $0.2910 |
Strategy: Small and mid cap
Funds that hold companies below the large-cap tier, where there is more room for growth and less coverage by analysts. Small-cap indexes differ meaningfully: some screen for profitability, some include every listed company, and value-tilted funds lean toward the cheapest names. Those rules drive more of the difference between funds than fees do.
Smaller companies are more sensitive to recessions and borrowing costs, so drawdowns run deeper than in large-cap funds.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $13,870 in VO and $13,814 in SCHM.
| Period | VO | SCHM |
|---|---|---|
| 1 month | 1.53% | -0.37% |
| 3 months | 1.63% | -0.20% |
| Year to date | 12.73% | 16.11% |
| 1 year | 12.40% | 17.61% |
| 3 years | 68.29% | 66.86% |
| 5 years | 38.70% | 38.14% |
- VO
- SCHM
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.
- VO
- SCHM
VO vs SCHM holdings overlap
At least 3% overlap by weight, with 4 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
Top 10 holdings
Largest positions by portfolio weight.
VO307 holdings total
Quick verdict
SCHM has the edge on these figures, with broader diversification. VO does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how VO vs SCHM fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is VO or SCHM better for dividend income?
It depends on your goals. VO currently yields 1.36% Trailing Twelve Months (TTM) while SCHM yields 1.29%. 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 VO and SCHM?
Vanguard Morningstar Mid-Cap ETF (VO) is an ETF listed on AMEX. Schwab U.S. Mid-Cap ETF (SCHM) 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, VO or SCHM?
They cost about the same: VO charges 0.03% a year and SCHM charges 0.03%.
Which has performed better, VO or SCHM?
Over the last 5 years, VO has the higher total return with dividends reinvested: VO returned 38.7% and SCHM returned 38.1%. Past performance does not predict future returns.
Which is riskier, VO or SCHM?
Measured by the worst peak-to-trough decline over the last five years, VO has been riskier: VO fell as much as 27.6% and SCHM as much as 26.5%. Their betas are 1.00 and 1.06.
How much do VO and SCHM overlap?
At least 3% of the two portfolios overlap by weight, across 4 shared holdings. The largest shared positions are LITE, BE, COHR. Holding both still adds meaningful diversification.
How often do VO and SCHM pay dividends?
VO pays annual and SCHM pays quarterly.
How much income does $10,000 in VO vs SCHM generate?
At current TTM yields, $10,000 in VO would generate roughly $11.34 per month ($136 annually). The same amount in SCHM would produce about $10.71 per month ($129 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both VO and SCHM?
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 VO vs SCHM with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how VO and SCHM 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.