SCHD vs VYM: Returns, Drawdowns and Dividends Since 2016
SCHD (Schwab U.S. Dividend Equity ETF) and VYM (Vanguard High Dividend Yield ETF) moved almost in lockstep: their daily returns had a correlation of 0.962, where 1 would mean identical. SCHD came out ahead, returning 13.8% a year with dividends reinvested from January 2016 to November 2026, against 12.2% for VYM.
Bought on any day and held five years, SCHD finished ahead 73% of the time. Both fell about 34% at their worst, in March 2020.
| Measure | SCHD | VYM |
|---|---|---|
| Annual return | 13.8% | 12.2% |
| $10,000 grew to | $40,700 | $34,675 |
| Worst decline | −33.4%Mar 2020 | −35.2%Mar 2020 |
| 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% | 16.0% |
| 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 | 0.67 |
| 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% | 2.2% |
| Best year | +29.9%2021 | +26.2%2021 |
| Worst year | −5.6%2018 | −5.9%2018 |
| 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. | 0.962 | |
SCHD: Schwab U.S. Dividend Equity ETFVYM: Vanguard High Dividend Yield 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. VYM fell 35.2% from Jan 17, 2020 to Mar 23, 2020 and was back at its high on Dec 31, 2020.
Hover or use the arrow keys to read any day.Tap or drag across the chart to read any day.
Year by year
SCHD was ahead in 6 of the 11 calendar years.
| Year | SCHD | VYM | Ahead (pts) |
|---|---|---|---|
| 2026 (to Nov 4) | +35.3% | +17.2% | SCHD+18.1 |
| 2025 | +4.3% | +15.4% | VYM+11.1 |
| 2024 | +11.7% | +17.6% | VYM+5.9 |
| 2023 | +4.6% | +6.6% | VYM+2.0 |
| 2022 | −3.2% | −0.5% | VYM+2.8 |
| 2021 | +29.9% | +26.2% | SCHD+3.6 |
| 2020 | +15.1% | +1.1% | SCHD+13.9 |
| 2019 | +27.3% | +24.1% | SCHD+3.2 |
| 2018 | −5.6% | −5.9% | SCHD+0.4 |
| 2017 | +20.9% | +16.4% | SCHD+4.5 |
| 2016 (from Jan 4) | +17.5% | +18.5% | VYM+0.9 |
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 | VYM51% | +0.2 |
| 3 years | 1,970 | SCHD61% | +6.5 |
| 5 years | 1,466 | SCHD73% | +21.5 |
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 VYM 2.2%. The returns above already include them, reinvested on each ex-dividend date.
Dividends per share by year
| Year | SCHD | VYM |
|---|---|---|
| 2026 (to Nov 4) | $0.78 3 payments | $2.73 3 payments |
| 2025 | $1.05 4 payments | $3.50 4 payments |
| 2024 | $0.99 4 payments | $3.49 4 payments |
| 2023 | $0.89 4 payments | $3.48 4 payments |
| 2022 | $0.85 4 payments | $3.25 4 payments |
| 2021 | $0.75 4 payments | $3.10 4 payments |
| 2020 | $0.68 4 payments | $2.91 4 payments |
| 2019 | $0.57 4 payments | $2.84 4 payments |
| 2018 | $0.48 4 payments | $2.65 4 payments |
| 2017 | $0.45 4 payments | $2.40 4 payments |
| 2016 (from Jan 4) | $0.40 4 payments | $2.21 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
- VYM
- Vanguard High Dividend Yield ETF, an ETF launched Nov 16, 2006. FinLab prices start Jan 4, 2016.
- VYM 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.