SCHD vs SPY: Dividend Yield, Total Return & Fees Compared
Schwab U.S. Dividend Equity ETFSPDR S&P 500 ETF Trust
Data as of the close · refreshed automatically every trading day
SCHD vs SPY at a glance
This page compares Schwab U.S. Dividend Equity ETF (SCHD) with SPDR S&P 500 ETF Trust (SPY) using prices and distributions through September 25, 2026. The numbers update automatically after each trading session.
With dividends reinvested, SCHD has led over the last 12 months at +27.35% versus +18.48% for SPY. SCHD currently yields 3.18% (trailing 12-month) against 0.98% for SPY. Across five years the total-return gap is +85.81% for SPY vs +57.83% for SCHD.
SCHD leads on both current yield and 1-year total return. Yields and returns move with markets, so check the longer periods below before drawing conclusions.
| Metric | SCHD | SPY |
|---|---|---|
| Last close | $33.21 | $771.35 |
| Dividend yield | 3.18% (TTM) | 0.98% (TTM) |
| Expense ratio | 0.06% | 0.09% |
| Pays | quarterly | quarterly |
| Dividends, last 12 months | $1.06 (4 payments) | $7.58 (4 payments) |
| Issuer | Schwab | SPDR |
| Inception | Oct 21, 2011 | Jan 23, 1993 |
Performance: SCHD vs SPY
Total return assumes every distribution is reinvested. Switch to price return to see the change in share price alone.
Total Return (%) · dividends reinvested · Sep 25, 2025 – Sep 25, 2026
Overview
Key fund stats as of the latest close.
Total returns
Price change plus dividends paid, by holding period. Best in each period is outlined.
Recent dividend payments
The latest 12 distributions per share for each fund, newest first.
| SCHD | SPY | ||
|---|---|---|---|
| Sep 23, 2026 | $0.267 | Sep 18, 2026 | $1.89 |
| Jun 24, 2026 | $0.253 | Jun 18, 2026 | $1.90 |
| Mar 25, 2026 | $0.257 | Mar 20, 2026 | $1.80 |
| Dec 10, 2025 | $0.278 | Dec 19, 2025 | $1.99 |
| Sep 24, 2025 | $0.260 | Sep 19, 2025 | $1.83 |
| Jun 25, 2025 | $0.260 | Jun 20, 2025 | $1.76 |
| Mar 26, 2025 | $0.249 | Mar 21, 2025 | $1.70 |
| Dec 11, 2024 | $0.265 | Dec 20, 2024 | $1.97 |
| Sep 25, 2024 | $0.250 | Sep 20, 2024 | $1.75 |
| Jun 26, 2024 | $0.270 | Jun 21, 2024 | $1.76 |
| Mar 20, 2024 | $0.200 | Mar 15, 2024 | $1.60 |
| Dec 6, 2023 | $0.250 | Dec 15, 2023 | $1.91 |
SCHD vs SPY: common questions
Which pays a higher dividend, SCHD or SPY?
As of September 25, 2026, SCHD yields 3.18% (trailing 12-month) and SPY yields 0.98% (trailing 12-month), so SCHD currently pays the higher yield. A higher yield does not guarantee a higher total return.
Which has performed better, SCHD or SPY?
Over the past year with dividends reinvested, SCHD returned +27.35% and SPY returned +18.48%. Over five years, SCHD returned +57.83% and SPY returned +85.81%. Past performance does not predict future results.
What would $10,000 in SCHD vs SPY be worth after one year?
With dividends reinvested, $10,000 invested one year before September 25, 2026 would have grown to about $12,735 in SCHD and $11,848 in SPY.
Which is cheaper to own, SCHD or SPY?
SCHD has the lower expense ratio at 0.06% a year, compared with 0.09% for SPY. On $10,000 that is roughly $6 vs $9 a year.
How often do SCHD and SPY pay dividends?
SCHD pays quarterly (4 payments in the last 12 months) and SPY pays quarterly (4 payments).
Is SCHD or SPY the better investment?
It depends on your goals, time horizon and tax situation. Income-focused investors often weigh yield and payment frequency, while long-term investors usually compare total return and fees. Dividend Duel is an educational tool and does not provide investment advice.
Related comparisons
More side-by-side comparisons with SCHD and SPY.
Figures come from end-of-day prices and distributions and are recalculated after every trading session; see our methodology. This page is for education only and is not investment advice. Past performance does not guarantee future results. Read the full disclosure.