SCHD vs SCHG: Returns, Drawdowns and Dividends Since 2016
SCHD (Schwab U.S. Dividend Equity ETF) and SCHG (Schwab U.S. Large-Cap Growth ETF) often moved differently: their daily returns had a correlation of 0.701, where 1 would mean identical. SCHG came out ahead, returning 17.5% a year with dividends reinvested from January 2016 to November 2026, against 13.8% for SCHD.
Bought on any day and held five years, SCHG finished ahead 94% of the time. Their worst declines were similar: 34.6% for SCHG and 33.4% for SCHD. SCHD paid more in dividends, 2.9% over the past 12 months against 0.4%, yet its total return was 3.7 points a year lower.
| Measure | SCHD | SCHG |
|---|---|---|
| Annual return | 13.8% | 17.5% |
| $10,000 grew to | $40,700 | $57,472 |
| Worst decline | −33.4%Mar 2020 | −34.6%Jan 2023 |
| Volatility Volatility How much the fund's daily returns swing: their standard deviation over this period, annualized with the square root of 252 trading days. | 16.4% | 21.3% |
| Sharpe ratio Sharpe ratio Return above T-bills for each unit of risk: daily returns minus the T-bill ETF BIL, averaged, divided by their standard deviation and annualized. Higher is better. T-bill funds show none. Sharpe ratio calculator | 0.74 | 0.77 |
| 12-month yield 12-month yield Cash dividends with ex-dividend dates in the past 12 months, divided by the latest closing price. | 2.9% | 0.4% |
| Best year | +29.9%2021 | +50.1%2023 |
| Worst year | −5.6%2018 | −31.8%2022 |
| Correlation between them Correlation How closely the two funds' daily returns moved together over this period: 1 means identical every day, 0 means no relation. | 0.701 | |
SCHD: Schwab U.S. Dividend Equity ETFSCHG: Schwab U.S. Large-Cap Growth ETF
Jan 4, 2016 to Nov 4, 2026, dividends reinvested.
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Worst declines
SCHD fell 33.4% from Jan 23, 2020 to Mar 23, 2020 and was back at its high on Sep 2, 2020. SCHG fell 34.6% from Nov 19, 2021 to Jan 5, 2023 and was back at its high on Dec 18, 2023.
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Year by year
SCHD was ahead in 4 of the 11 calendar years.
| Year | SCHD | SCHG | Ahead (pts) |
|---|---|---|---|
| 2026 (to Nov 4) | +35.3% | +6.8% | SCHD+28.5 |
| 2025 | +4.3% | +17.5% | SCHG+13.2 |
| 2024 | +11.7% | +34.9% | SCHG+23.3 |
| 2023 | +4.6% | +50.1% | SCHG+45.5 |
| 2022 | −3.2% | −31.8% | SCHD+28.6 |
| 2021 | +29.9% | +28.1% | SCHD+1.7 |
| 2020 | +15.1% | +39.2% | SCHG+24.1 |
| 2019 | +27.3% | +35.9% | SCHG+8.6 |
| 2018 | −5.6% | −1.3% | SCHG+4.2 |
| 2017 | +20.9% | +28.0% | SCHG+7.1 |
| 2016 (from Jan 4) | +17.5% | +8.3% | SCHD+9.3 |
Held for 1, 3 or 5 years: which came out ahead
Buy on any trading day from Jan 4, 2016, hold for a set time, and see which fund ended higher. The periods overlap, so they show how much the start date mattered, not separate results.
| Hold | Days tested | Ahead more often | Median lead (pts) |
|---|---|---|---|
| 1 year | 2,474 | SCHG72% | +6.5 |
| 3 years | 1,970 | SCHG83% | +24.6 |
| 5 years | 1,466 | SCHG94% | +50.3 |
Median lead is the typical gap in total return across all start dates, in percentage points. The latest 5-year hold starts on Oct 27, 2021.
Dividends
Over the past 12 months SCHD paid 2.9% of its price in dividends and SCHG 0.4%. The returns above already include them, reinvested on each ex-dividend date.
Dividends per share by year
| Year | SCHD | SCHG |
|---|---|---|
| 2026 (to Nov 4) | $0.78 3 payments | $0.11 3 payments |
| 2025 | $1.05 4 payments | $0.12 4 payments |
| 2024 | $0.99 4 payments | $0.11 4 payments |
| 2023 | $0.89 4 payments | $0.10 5 payments |
| 2022 | $0.85 4 payments | $0.08 4 payments |
| 2021 | $0.75 4 payments | $0.09 5 payments |
| 2020 | $0.68 4 payments | $0.08 4 payments |
| 2019 | $0.57 4 payments | $0.10 4 payments |
| 2018 | $0.48 4 payments | $0.11 5 payments |
| 2017 | $0.45 4 payments | $0.09 4 payments |
| 2016 (from Jan 4) | $0.40 4 payments | $0.07 4 payments |
Per share in today's shares (earlier amounts are restated for share splits), by ex-dividend date.
The two funds
- SCHD
- Schwab U.S. Dividend Equity ETF, an ETF launched Oct 20, 2011. FinLab prices start Jan 4, 2016.
- SCHD price and signal backtests
- SCHG
- Schwab U.S. Large-Cap Growth ETF, an ETF launched Dec 11, 2009. FinLab prices start Jan 4, 2016.
- SCHG price and signal backtests
More comparisons
Source: FinLab U.S. fund prices, Jan 4, 2016 to Nov 4, 2026, the days both funds traded. Returns use prices adjusted for dividends and splits, before taxes; annual return is compounded.
For research and education. Past returns do not guarantee future results, and this is not investment advice.