SCHD alternatives and similar ETFs

SCHD alternatives at a glance#

Each fund below can stand in for SCHD, closest first. “Same kind” funds hold the same kind of stocks through a different index. “Related” funds make a different bet that often moves the same way.

Fees come from each fund company, checked on the dates shown on each fund’s page.

How SCHD and its alternatives did over the same dates#

Each row measures the alternative and SCHD on the days both traded, so neither gets a head start. Correlation shows how closely their daily moves matched over about the last five years. A value of 1 means they always moved together.

Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

Each SCHD alternative, compared#

VYM: Vanguard High Dividend Yield ETF#

VYM also holds US companies that pay high or steady dividends. It tracks the FTSE High Dividend Yield Index, while SCHD tracks the Dow Jones U.S. Dividend 100 Index.

It charges 0.04% a year, about $4 on $10,000, against $6 for SCHD. It held 593 stocks, against 98 for SCHD.

From October 2011 to October 2026, VYM returned about 12.6% a year and SCHD returned about 13.5% a year. Over about the last five years they moved together on most days (correlation 0.93).

Read SCHD vs VYM for the full side-by-side, or the VYM fund page.

SDY: State Street SPDR S&P Dividend ETF#

SDY also holds US companies that pay high or steady dividends. It tracks the S&P High Yield Dividend Aristocrats Index, while SCHD tracks the Dow Jones U.S. Dividend 100 Index.

It charges 0.35% a year, about $35 on $10,000, against $6 for SCHD. It held 155 stocks, against 98 for SCHD.

From October 2011 to October 2026, SDY returned about 11.3% a year and SCHD returned about 13.5% a year. Over about the last five years they moved together on most days (correlation 0.93).

Read the SDY fund page for its returns by year and worst drop.

SPYD: State Street SPDR Portfolio S&P 500 High Dividend ETF#

SPYD also holds US companies that pay high or steady dividends. It tracks the S&P 500 High Dividend Index, while SCHD tracks the Dow Jones U.S. Dividend 100 Index.

It charges 0.07% a year, about $7 on $10,000, against $6 for SCHD. It held 78 stocks, against 98 for SCHD.

From October 2015 to October 2026, SPYD returned about 8.9% a year and SCHD returned about 13.0% a year. Over about the last five years they moved together on most days (correlation 0.92).

Read the SPYD fund page for its returns by year and worst drop.

DVY: iShares Select Dividend ETF#

DVY also holds US companies that pay high or steady dividends. It tracks the Dow Jones U.S. Select Dividend Index, while SCHD tracks the Dow Jones U.S. Dividend 100 Index.

It charges 0.38% a year, about $38 on $10,000, against $6 for SCHD. It held 98 stocks, against 98 for SCHD.

From October 2011 to October 2026, DVY returned about 11.8% a year and SCHD returned about 13.5% a year. Over about the last five years they moved together on most days (correlation 0.92).

Read the DVY fund page for its returns by year and worst drop.

HDV: iShares Core High Dividend ETF#

HDV also holds US companies that pay high or steady dividends. It tracks the Morningstar Dividend Yield Focus Index, while SCHD tracks the Dow Jones U.S. Dividend 100 Index.

It charges 0.08% a year, about $8 on $10,000, against $6 for SCHD. It held 74 stocks, against 98 for SCHD.

From October 2011 to October 2026, HDV returned about 11.2% a year and SCHD returned about 13.5% a year. Over about the last five years they moved together on most days (correlation 0.90).

Read the HDV fund page for its returns by year and worst drop.

SPHD: Invesco S&P 500 High Dividend Low Volatility ETF#

SPHD also holds US companies that pay high or steady dividends. It tracks the S&P 500 Low Volatility High Dividend Index, while SCHD tracks the Dow Jones U.S. Dividend 100 Index.

It charges 0.3% a year, about $30 on $10,000, against $6 for SCHD.

From October 2012 to October 2026, SPHD returned about 9.4% a year and SCHD returned about 13.2% a year. Over about the last five years they moved together on most days (correlation 0.89).

Read the SPHD fund page for its returns by year and worst drop.

DGRO: iShares Core Dividend Growth ETF#

DGRO is a looser match. It holds US companies that have raised their dividends for many years in a row, while SCHD holds US companies that pay high or steady dividends.

It charges 0.08% a year, about $8 on $10,000, against $6 for SCHD. It held 391 stocks, against 98 for SCHD.

From June 2014 to October 2026, DGRO returned about 12.4% a year and SCHD returned about 12.1% a year. Over about the last five years they moved together on most days (correlation 0.94).

Read the DGRO fund page for its returns by year and worst drop.

VIG: Vanguard Dividend Appreciation ETF#

VIG is a looser match. It holds US companies that have raised their dividends for many years in a row, while SCHD holds US companies that pay high or steady dividends.

It charges 0.04% a year, about $4 on $10,000, against $6 for SCHD. It held 333 stocks, against 98 for SCHD.

From October 2011 to October 2026, VIG returned about 13.0% a year and SCHD returned about 13.5% a year. Over about the last five years they moved together on most days (correlation 0.88).

Read the VIG fund page for its returns by year and worst drop.

SCHD versions from other fund companies#

Some people keep all their funds with one company. Here is the closest fund to SCHD from each other company on this page:

• Vanguard: VYM, Vanguard High Dividend Yield ETF (same kind of fund, 0.04% a year)
• SPDR (State Street): SDY, State Street SPDR S&P Dividend ETF (same kind of fund, 0.35% a year)
• iShares (BlackRock): DVY, iShares Select Dividend ETF (same kind of fund, 0.38% a year)
• Invesco: SPHD, Invesco S&P 500 High Dividend Low Volatility ETF (same kind of fund, 0.3% a year)

Most brokers let you buy any ETF, whoever runs it. Mutual fund versions, such as a fund company’s index mutual fund, are not listed here.

How to choose between SCHD and its alternatives#

• What it tracks. A fund on the same index holds the same stocks. A different index can mean different weights, more or fewer holdings, or a different mix.
• The fee. The difference is often small. On $10,000, SCHD costs about $6 a year. VYM costs about $4.
• History. An older fund has been through more bad markets, so you can see how far it fell.
• What you already own. Two funds that move together add little variety. A fund with a low correlation behaves more on its own.

Swapping SCHD to harvest a tax loss#

Some investors sell a fund at a loss to lower their taxes, then buy a similar fund so they stay invested. This is called tax-loss harvesting.

The IRS wash sale rule blocks the loss if you buy a “substantially identical” security within 30 days before or after the sale. The IRS has not said exactly when two funds count. Funds on the same index are more likely to. Funds on a different index, such as VYM, SDY or SPYD, are less likely to.

Ask a tax professional before you rely on this. Read the IRS rules in Publication 550.

Test SCHD and its alternatives in a backtest#

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the builder, add SCHD and VYM, and see how each would have done on the same dates, or how a mix of both would have done.

The details#

Alternatives are picked from facts, not from returns. First come funds that track the same index as SCHD. Then come funds that hold the same kind of stocks through another index. Last come funds from a close category that make a different bet. Leveraged funds are only listed as alternatives to other leveraged funds.

Within each group, the funds whose daily returns moved most like SCHD over about the last five years come first. Returns and worst drops use Tactfolio’s stored daily prices, adjusted for splits, with dividends reinvested. Each alternative is measured with SCHD only on days both traded. Read what a backtest simulates for more on these measures.