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SCHD vs DIVO: Dividend Growth or Enhanced Income?

SCHD delivers a clean index approach to dividend growth; DIVO pairs blue-chip payers with tactical covered calls for higher monthly income. Compare yield, fees, and returns.

Data as of September 28, 2026

SCHD

Schwab U.S. Dividend Equity ETF

Charles Schwab

Dividend Growth

Price

$31.20

Yield (TTM)

3.44%

SCHD dividend calculator →

DIVO

Amplify CWP Enhanced Dividend Income ETF

Amplify ETFs

Covered Call

Price

$45.48

Yield (TTM)

4.79%

DIVO dividend calculator →

Run these ETFs through the calculator

Project compounded returns, dividend income, and reinvestment using each ETF's real yield, expense ratio, and distribution frequency.

Calculate with SCHDCalculate with DIVOCompare side by side

Quick Comparison Summary

SCHD vs DIVO: compare dividend yield (3.4% vs 4.8%), expense ratio (0.06% vs 0.56%), holdings, returns, and our verdict for dividend investors.

Side-by-Side Metrics
MetricSCHDDIVO
IssuerCharles SchwabAmplify ETFs
Inception2011-10-202016-12-13
CategoryDividend GrowthCovered Call
Price$31.20$45.48
NAV$31.19$45.46
Dividend Yield (TTM)3.44%4.79%
Expense Ratio0.06%0.56%
Distribution FrequencyQuarterlyMonthly
AUM$88.3B$6.9B
Total Returns

3Y and 5Y figures are annualized. A 0% value indicates the fund had not been listed for the full period.

Holdings & Sector Exposure

SCHD

Top 5 / 5 shown

  • TXN

    Texas Instruments

    4.31%

  • AMGN

    Amgen

    4.18%

  • CSCO

    Cisco Systems

    4.05%

  • VZ

    Verizon

    3.97%

  • HD

    Home Depot

    3.85%

Sector Weights

  • Financials18.4%
  • Health Care16.9%
  • Consumer Staples14.7%
  • Industrials13.5%
  • Information Tech11.2%
  • Energy8.6%

DIVO

Top 5 / 5 shown

  • MSFT

    Microsoft

    5.18%

  • AAPL

    Apple

    4.92%

  • JPM

    JPMorgan Chase

    4.61%

  • GS

    Goldman Sachs

    4.42%

  • HD

    Home Depot

    4.18%

Sector Weights

  • Financials19.8%
  • Information Tech18.4%
  • Health Care14.2%
  • Industrials12.6%
  • Consumer Staples10.8%
  • Energy8.4%

Pros & Cons

SCHDPros
  • 0.06% expense ratio — about a tenth of DIVO's
  • Quality-screened index with a long dividend growth record
  • Yield around 3.4% with room for payout growth
  • Lower key-person and strategy risk (rules-based)
DIVOPros
  • Higher yield (~4.8%) with monthly distributions
  • Blue-chip holdings (Microsoft, Apple, JPMorgan, Goldman Sachs)
  • Writes calls only when volatility is favorable — less upside capping than mechanical strategies
  • Comparable five-year total return to SCHD
SCHDCons
  • Lower current yield than DIVO
  • Quarterly rather than monthly distributions
  • No option premium to supplement income
  • Concentrated in value sectors by design
DIVOCons
  • 0.56% expense ratio — nearly 10x SCHD's
  • Active management means manager and strategy risk
  • Upside is partially capped by covered calls
  • Smaller asset base and thinner liquidity than SCHD
The Verdict

These funds land in a similar place on returns — roughly 11% annualized over five years for both — but get there differently. SCHD is the cheapest, most transparent option (0.06% fee, ~3.4% yield, quarterly payments) and pure dividend growth. DIVO is actively managed with a concentrated blue-chip portfolio and tactical covered-call writing, yielding ~4.8% with monthly payments for a 0.56% fee. Choose SCHD for cost and growth, DIVO for higher current income and monthly cash flow.

Best for
SCHD

Investors who want a low-cost, fully transparent dividend-growth core with rising income

Best for
DIVO

Income investors who want higher monthly distributions and accept active management risk

Strategy Summary

SCHD

Tracks the Dow Jones U.S. Dividend 100 Index — large-cap U.S. companies with at least 10 consecutive years of dividend payments, screened on cash-flow-to-debt, ROE, dividend yield, and 5-year dividend growth.

DIVO

Actively managed concentrated portfolio of ~25-30 high-quality dividend payers, overlaid with tactical covered calls written only when implied volatility is favorable.

Frequently Asked Questions

It depends on what you need. DIVO pays more income monthly, but costs more and gives up some upside through covered calls. SCHD is the cleaner dividend-growth core; many investors pair the two rather than replacing one with the other.

DIVO supplements dividends from its blue-chip holdings with premium income from tactical covered calls, which raises the distribution. That extra income is not free — it caps some of the portfolio's upside.

DIVO's monthly distributions fit retirees who need steady cash flow now. SCHD's growing payout suits those with a longer horizon who want inflation-resistant income later.
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01

Covered Call vs Covered Call

JEPI vs DIVO

JEPI uses ELNs to simulate broad covered calls; DIVO writes selective tactical calls on a concentrated dividend portfolio. Compare yield, expense, and approach.

Yield 8.4% vs 4.8%Fee 0.35% vs 0.56%
02

Covered Call vs Covered Call

JEPQ vs DIVO

JEPQ sells Nasdaq-100 options for an 11.11% monthly yield; DIVO writes covered calls selectively on a concentrated portfolio of dividend payers for 4.79%. Compare income, fees, risk, and tax treatment before choosing an income sleeve.

Yield 11.1% vs 4.8%Fee 0.35% vs 0.56%
03

Dividend Growth vs Dividend Growth

SCHD vs DGRO

Schwab's SCHD vs BlackRock's DGRO — two of the most popular dividend-growth ETFs. SCHD has higher yield, DGRO has more tech exposure. Compare expense, holdings, sector mix, and growth rates.

Yield 3.4% vs 2.1%Fee 0.06% vs 0.08%
04

Dividend Growth vs Covered Call

SCHD vs JEPI

SCHD delivers steady quarterly dividend growth from quality U.S. large-caps. JEPI pays a high monthly yield from covered-call premium. Compare yield, expense, returns, holdings, and which fits your goal.

Yield 3.4% vs 8.4%Fee 0.06% vs 0.35%
05

Dividend Growth vs Dividend Growth

SCHD vs VIG

Schwab's SCHD focuses on quality + yield; Vanguard's VIG focuses on dividend appreciation with a 10-year growth screen. Compare yield, returns, and approach.

Yield 3.4% vs 1.7%Fee 0.06% vs 0.04%
06

High Dividend Yield vs Dividend Growth

HDV vs SCHD

BlackRock's HDV uses moat + distance-to-default screens; Schwab's SCHD uses cash-flow + dividend-growth screens. Compare yield, sector tilt, and methodology.

Yield 2.9% vs 3.4%Fee 0.08% vs 0.06%

Fund metrics as of April 24, 2026.

Disclaimer: This page is for educational purposes only and is not financial, investment, or tax advice. ETF data is sourced from issuer fact sheets and may be slightly out of date. Past performance is not indicative of future results. Always consult a qualified advisor before making investment decisions.