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SCHD vs VOO: Dividend Income or Total Market Growth?

SCHD focuses on quality dividend payers; VOO holds the entire S&P 500. Compare yield, expense, returns, and the growth-vs-income tradeoff.

Data as of April 27, 2026

SCHD

Schwab U.S. Dividend Equity ETF

Charles Schwab

Dividend Growth

Price

$31.20

Yield (TTM)

3.44%

VOO

Vanguard S&P 500 ETF

Vanguard

Broad Market

Price

$656.42

Yield (TTM)

1.16%

Quick Comparison Summary

SCHD vs VOO: compare dividend yield (3.4% vs 1.2%), expense ratio (0.06% vs 0.03%), holdings, returns, and our verdict for dividend investors.

Side-by-Side Metrics
MetricSCHDVOO
IssuerCharles SchwabVanguard
Inception2011-10-202010-09-07
CategoryDividend GrowthBroad Market
Price$31.20$656.42
NAV$31.19$656.53
Dividend Yield (TTM)3.44%1.16%
Expense Ratio0.06%0.03%
Distribution FrequencyQuarterlyQuarterly
AUM$88.3B$910.2B
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%

VOO

Top 5 / 5 shown

  • MSFT

    Microsoft

    7.18%

  • AAPL

    Apple

    6.84%

  • NVDA

    NVIDIA

    6.42%

  • AMZN

    Amazon

    3.76%

  • META

    Meta Platforms

    2.58%

Sector Weights

  • Information Tech30.2%
  • Financials13.4%
  • Health Care11.6%
  • Consumer Disc.10.5%
  • Communication9.1%
  • Industrials8.3%

Pros & Cons

SCHDPros
  • ~3x the dividend yield of VOO
  • Quality screens reduce yield-trap exposure
  • Lower drawdowns in bear markets (defensive tilt)
VOOPros
  • Lowest possible expense ratio (0.03%)
  • Best long-term total returns (driven by tech)
  • Maximum diversification across sectors
  • Highest liquidity
SCHDCons
  • Lower total return historically
  • Misses tech-driven mega-cap rallies
  • Sector concentration (financials, staples, energy)
VOOCons
  • Yield only ~1.2% — not useful for income
  • Heavy tech concentration (top 5 stocks ~30%)
  • Higher volatility than dividend-focused funds
The Verdict

VOO has produced higher total returns; SCHD produces higher current income. Over the past decade, VOO's exposure to mega-cap tech has driven outperformance. SCHD generates roughly 3x the dividend yield (~3.4% vs ~1.2%), making it more useful for income-seeking investors. The combination — VOO for growth, SCHD for income — is a popular two-fund dividend-investor portfolio.

Best for
SCHD

Investors seeking immediate dividend income from a quality-screened portfolio

Best for
VOO

Investors with long horizons who prioritize total return over current income

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.

VOO

Tracks the S&P 500 Index — 500 largest U.S. companies, market-cap weighted. The benchmark for U.S. large-cap equity exposure at one of the lowest expense ratios available.

Frequently Asked Questions

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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.