SCHD vs VOO: fees, holdings and returns

SCHD holds about 100 US companies picked for steady dividends and strong finances. VOO holds the about 500 companies in the S&P 500. SCHD pays a higher dividend and holds much less technology, so the two have often done quite differently. Over the same dates since October 2011, SCHD returned about 13.5% a year and VOO returned about 15.1% a year.

Written by the Tactfolio research team. Fund facts checked October 16, 2026. Prices through October 20, 2026.

SCHD

Yearly fee
0.06%
about $6 on $10,000
Return per year
13.5%
since October 2011
Worst drop
−33.4%
since 2011
Started trading
Oct 2011
Schwab

VOO

Yearly fee
0.03%
about $3 on $10,000
Return per year
15.1%
since October 2011
Worst drop
−34.0%
since 2011
Started trading
Sep 2010
Vanguard

Key points

  • VOO costs less: 0.03% a year against 0.06%.
  • SCHD started trading in October 2011. VOO started in September 2010.
  • Worst drops since 2011: SCHD −33.4%, VOO −34.0%.
  • Daily correlation: 0.88 (1 means they always move together).

What is the difference between SCHD and VOO?#

SCHD is a narrow, rules-picked slice: companies with at least 10 years of dividends, ranked on cash flow, debt, profits, yield and dividend growth. That leaves out most fast-growing tech companies, which pay little or nothing. VOO holds every large company by size, so tech leads it. When tech leads, VOO has tended to do better. In 2022, when tech fell hard, SCHD fell much less. A higher dividend is part of the return, not extra on top of it.

FactSCHDVOO
Full nameSchwab U.S. Dividend Equity ETFVanguard S&P 500 ETF
IssuerSchwabVanguard
Expense ratio0.06% a year0.03% a year
Started tradingOctober 20, 2011September 7, 2010
TracksDow Jones U.S. Dividend 100 IndexS&P 500 Index
Holdings98 holdings as of February 28, 2026505 holdings as of September 30, 2026
TypeUS stocks, ETFUS stocks, ETF

Fund facts checked on the Schwab SCHD page and the Vanguard VOO page.

Is SCHD or VOO cheaper?#

VOO costs less: 0.03% a year against 0.06%. On $10,000, that is about $6 a year for SCHD and $3 for VOO. The fund takes its fee out of its own value a little each day, so you never get a bill.

SCHD vs VOO performance over the same dates#

$10k$20k$50k20122014201620182020202220242026
SCHDVOOGrowth of $10,000, log scale, with dividends reinvested. Past results do not tell you what happens next.

Both funds are measured from October 2011 to October 2026, the dates both traded. SCHD returned about 13.5% a year and VOO returned about 15.1% a year. VOO came out ahead over this period, which does not mean it will again.

MeasureSCHDVOO
$10,000 grew to$66,979$82,540
Total return569.8%725.4%
Return per year (CAGR)13.5%15.1%
Worst drop from a high−33.4%−34.0%
Volatility (how much it swings)15.3%16.7%
Last 12 months33.0%15.8%
Last 3 years, per year18.8%23.8%
Last 5 years, per year9.7%12.8%
Last 10 years, per year13.5%15.5%

Prices through October 20, 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.

SCHD and VOO returns by year#

YearSCHDVOO
2026 (part of the year)29.6%13.7%
20254.3%17.8%
202411.7%25.0%
20234.5%26.3%
2022−3.3%−18.2%
202129.9%28.8%
202015.0%18.3%
201927.3%31.4%
2018−5.6%−4.5%
201720.8%21.8%
201616.4%12.2%
2015−0.3%1.3%
201411.7%12.9%
201332.9%32.4%
201211.4%16.0%
2011 (part of the year)5.3%4.0%

Which fell further in bad times?#

A drawdown is how far a fund falls from its last high point. SCHD’s worst fall was −33.4%, from January 23, 2020 to March 23, 2020. It got back to that high on September 2, 2020.

VOO’s worst fall was −34.0%, from February 19, 2020 to March 23, 2020. It got back to that high on August 10, 2020.

Their daily moves had a correlation of 0.88. A correlation of 1 means two funds always move up and down together. Near 0 means they move on their own. So they often move together, but not always.

Why people choose SCHD or VOO#

SCHD. People who want regular dividend income from established companies tend to pick SCHD.

VOO. People who want all large US companies, growth and dividend payers alike, tend to pick VOO.

Strategies that hold SCHD or VOO#

No classic strategy holds SCHD or VOO yet.

Other funds like SCHD and VOO#

Each fund has more funds that hold the same kind of investments, ranked by how closely they move with it: SCHD alternatives and VOO alternatives.

Test a mix of SCHD and VOO#

Open the builder, add SCHD and VOO, and give each a weight, such as 50% and 50%. The backtest shows how the mix would have done, with its worst drop, on daily prices. You can also add a rule, for example to switch between them, and compare. Read the full pages for SCHD and VOO, or see more ETF comparisons.

The details#

Both funds use Tactfolio’s stored daily prices, adjusted for splits, with dividends reinvested. They are compared only on days both traded, starting the later fund’s first day, so neither gets a head start. Correlation uses daily returns over the same days. Read what a backtest simulates for more on these measures.

Common questions#

Does a higher dividend mean a higher return?#

No. When a fund pays a dividend, its price drops by about the same amount. Total return, price plus dividends, is what the figures above compare.

Do SCHD and VOO overlap?#

Some. Many of SCHD’s companies are also in the S&P 500, but SCHD holds only about 100 of them and weights them differently.

Which is cheaper, SCHD or VOO?#

VOO costs less: 0.03% a year against 0.06%. Fees come from each issuer and were checked on October 16, 2026.

Which did better, SCHD or VOO?#

From October 2011 to October 2026, SCHD returned about 13.5% a year and VOO returned about 15.1% a year, with dividends reinvested. Their worst drops were −33.4% and −34.0%. Past returns do not tell you what comes next.

Sources#