SCHD vs HDV: Head-to-Head Comparison
SCHD vs HDV: Schwab U.S. Dividend Equity ETF has an expense ratio of 0.06% while iShares Core High Dividend ETF charges 0.08%. SCHD holds 103 securities vs HDV's 75. 5-year returns: 12.10% vs 7.50%.
Last updated: April 2026
Dividend
Quick Verdict
Both ETFs score equally well for beginners (9/10). Your choice depends on your specific investment goals.
Side-by-Side Comparison
| Metric | SCHD | HDV |
|---|---|---|
| Expense Ratio | 0.06% | 0.08% |
| AUM | $62.0B | $11.0B |
| Dividend Yield | 3.40% | 3.50% |
| Holdings | 103 | 75 |
| 1-Year Return | 12.90% | 8.00% |
| 5-Year Return (Ann.) | 12.10% | 7.50% |
| 10-Year Return (Ann.) | 11.50% | 8.00% |
| Beta | 0.82 | 0.72 |
| P/E Ratio | 16.8 | 16.0 |
SCHD 5-year annualized return is 12.10% compared to HDV's 7.50%. Over 10 years, SCHD returned 11.50% vs HDV's 8.00%.
View data table
| Period | SCHD Return | HDV Return |
|---|---|---|
| YTD | 1.80% | 1.80% |
| 1 Year | 12.90% | 8.00% |
| 3 Year | 7.20% | 6.50% |
| 5 Year | 12.10% | 7.50% |
| 10 Year | 11.50% | 8.00% |
Key Differences Between SCHD and HDV
SCHD (Schwab U.S. Dividend Equity ETF) is a u.s. large-cap dividend fund managed by Charles Schwab. SCHD focuses on high-quality U.S. companies with strong track records of paying and growing dividends. It uses a rules-based approach to select about 100 stocks that have consistently paid dividends for at least 10 years. Beginners who want both income and growth often find SCHD attractive because it combines a solid dividend yield with quality stock selection at a very low cost.
HDV (iShares Core High Dividend ETF) is a high dividend fund managed by BlackRock. HDV tracks the Morningstar Dividend Yield Focus Index, which selects high-dividend U.S. stocks that also pass financial health screening based on Morningstar's proprietary analysis. This dual focus on yield and quality helps avoid dividend traps by filtering out companies with unsustainable payouts. The fund offers a quality-income approach at a very reasonable expense ratio.
The most notable differences are in fees (0.06% vs 0.08%), number of holdings (103 vs 75), and 5-year returns (12.10% vs 7.50%).
SCHD vs HDV multi-factor comparison: SCHD has a 0.06% expense ratio, 12.10% 5-year return, 103 holdings, 0.82 beta, and 3.40% yield. HDV has 0.08% expense ratio, 7.50% 5-year return, 75 holdings, 0.72 beta, and 3.50% yield.
View data table
| Metric | SCHD | HDV |
|---|---|---|
| Expense Ratio | 0.06% | 0.08% |
| 5-Year Return | 12.10% | 7.50% |
| Holdings | 103 | 75 |
| Beta | 0.82 | 0.72 |
| Dividend Yield | 3.40% | 3.50% |
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Holdings Overlap Analysis
43%
Holdings Overlap
SCHD and HDV share 43% of their top holdings. There is moderate overlap, so owning both provides some additional diversification but with diminishing returns.
SCHD and HDV share 43% of their top holdings (moderate overlap). SCHD has 103 total holdings and HDV has 75. Common holdings include ABBV, KO, CSCO.
View data table
| Metric | SCHD | HDV |
|---|---|---|
| Overlap | 43% | 43% |
| Unique Holdings | 57% | 57% |
| Total Holdings | 103 | 75 |
Cost Comparison Over Time
If you invest $10,000 and hold for 20 years (assuming 8% annual returns):
SCHD
Fee cost: $515
HDV
Fee cost: $686
Over 20 years, the fee difference amounts to $171 on a $10,000 investment. SCHD saves you more in fees over time.
On a $10,000 investment over 20 years at 8% return, SCHD (0.06% fee) grows to $46,094 while HDV (0.08% fee) grows to $45,924. The fee difference costs $170.
View data table
| Year | SCHD Value | HDV Value |
|---|---|---|
| 0 | $10,000 | $10,000 |
| 5 | $14,653 | $14,639 |
| 10 | $21,470 | $21,430 |
| 15 | $31,458 | $31,371 |
| 20 | $46,094 | $45,924 |
Which One Should a Beginner Choose?
Choose SCHD if: You want income-focused investors who want a reliable and growing dividend stream, conservative investors who prefer lower volatility with quality companies, retirees or pre-retirees building a dividend income portfolio. It's managed by Charles Schwab with an expense ratio of 0.06%.
Choose HDV if: You want income investors who want quality screening to reduce the risk of dividend cuts, defensive portfolio positioning during uncertain economic environments, cost-conscious dividend investors who want high yield at a low expense ratio. It's managed by BlackRock with an expense ratio of 0.08%.
Can You Own Both SCHD and HDV?
Absolutely! With only 43% overlap, SCHD and HDV complement each other well. A simple portfolio might allocate 60% to one and 40% to the other, or you could pair them with a bond ETF like BND for a complete three-fund portfolio.
Frequently Asked Questions
Should I buy SCHD or HDV?▾
Both ETFs score equally well for beginners (9/10). Your choice depends on your specific investment goals. However, both are solid options. SCHD is best for investors who want income-focused investors who want a reliable and growing dividend stream, while HDV is better suited for income investors who want quality screening to reduce the risk of dividend cuts.
What is the difference between SCHD and HDV?▾
SCHD (Schwab U.S. Dividend Equity ETF) tracks u.s. large-cap dividend investments with 103 holdings and a 0.06% expense ratio. HDV (iShares Core High Dividend ETF) focuses on high dividend with 75 holdings at 0.08%. Their top holdings overlap by 43%.
Can I own both SCHD and HDV?▾
Yes! With only 43% holdings overlap, SCHD and HDV complement each other well. Owning both gives you broader diversification.