What is SCHD's expense ratio?

Schwab U.S. Dividend Equity ETF (SCHD) has an expense ratio of 0.06%.

How much AUM does SCHD have?

Schwab U.S. Dividend Equity ETF manages approximately $78.4B in assets under management.

How many holdings does SCHD have?

Schwab U.S. Dividend Equity ETF holds 100 securities. The top holding is Lockheed Martin Corp at 4.8% weight.

What is SCHD's weighted P/E ratio?

The holdings-weighted P/E ratio for Schwab U.S. Dividend Equity ETF is 21.1x, calculated from constituent stock valuations.

How concentrated is SCHD?

Schwab U.S. Dividend Equity ETF has an HHI concentration score of 296. This indicates a well-diversified portfolio.

ETF · Large Value

Schwab U.S. Dividend Equity ETF(SCHD)

$32.91

-0.39%

0.06%

Expense Ratio

$78.4B

Total AUM

100

Holdings

—

Inception

Active Share vs VOO

Truly Active

0%20%60%100%

92.5%

AI Look-Through Summary

AI Generated

The portfolio's sector allocation is skewed towards Energy and Consumer Defensive, with significant exposure to these sectors at 20.2% and 18.7%, respectively. This contrasts with the broader market's sector mix, where Technology and Healthcare tend to have a larger presence. The weighted P/E ratio of 20.5x suggests that the portfolio is trading at a premium to its historical averages, which may indicate a higher level of investor optimism.

The top holdings are concentrated in a small group of large-cap stocks from various sectors, with Lockheed Martin (LMT) and ConocoPhillips (COP) leading the way. The presence of these large-cap dividend payers suggests that the portfolio is focused on generating steady income rather than growth. A favorable macro environment for this portfolio would likely be one characterized by stable economic conditions and low volatility, which would allow the portfolio's dividend-paying stocks to continue delivering consistent returns. Conversely, a downturn in energy prices or a recession could negatively impact the portfolio's performance.

Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-07-14 07:24:05.230493+00

🔍 Theme Alignment Audit

AI GeneratedPurity: 85/100

The Schwab U.S. Dividend Equity ETF maintains a strong alignment with its implied theme of high-quality dividend payers, as evidenced by the heavy weighting in sectors historically known for stable cash flows such as Energy and Consumer Defensive stocks. The top holdings include established leaders like Chevron, ExxonMobil, Coca-Cola, and PepsiCo, which are quintessential examples of companies prioritizing consistent shareholder returns over aggressive growth at all costs. While the inclusion of technology firms like Texas Instruments and Cisco introduces a slight deviation from pure utility-style dividends, these specific names represent profitable, mature segments within their industries rather than speculative tech plays, thereby preserving the fund's core focus on reliability and income generation without straying into unrelated thematic areas.

Sector coherence appears robust given that Energy and Consumer Defensive sectors collectively account for nearly 40% of the portfolio, providing a defensive anchor consistent with dividend strategies. However, significant concentration risk exists within individual holdings; the top ten positions represent over 42% of total assets, meaning the fund's performance is heavily dependent on a relatively small group of large-cap stocks rather than broad sector diversification. This reliance on mega-caps suggests the fund prioritizes stability and liquidity through established giants, which may limit exposure to smaller dividend growers that could offer higher yields but come with greater volatility. Ultimately, while the portfolio successfully mirrors a high-dividend mandate, its heavy lean toward specific industry leaders creates a distinct profile that differs from a truly diversified broad-market index by amplifying idiosyncratic risks associated with those dominant names.

AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-20 23:18:48.783184+00

🏢 Sector Analysis

AI Generated

The Schwab U.S. Dividend Equity ETF exhibits a distinct sector weighting that heavily favors defensive and value-oriented industries, with Energy and Consumer Defensive sectors comprising nearly 40% of the total portfolio combined. This allocation pattern suggests an investment thesis prioritizing cash flow stability and established business models over high-growth potential, as evidenced by the relatively modest exposure to Technology at just 9%. The fund's concentration within these specific areas is further amplified by a top-10 holdings concentration of 42.5%, indicating that a small group of large-cap stocks drives the majority of the portfolio's performance and risk profile.

Notably, the inclusion of major energy players like Chevron and ConocoPhillips alongside industrial giants such as Lockheed Martin creates a significant tilt toward traditional value factors rather than growth or momentum strategies. While Healthcare provides diversification with 16% allocation, its representation is limited to only four holdings compared to nine in Energy, highlighting an uneven distribution within the defensive umbrella. The minimal presence of Communication Services and Basic Materials reinforces a focus on mature industries known for consistent dividend payments, while the underweight position in Consumer Cyclical and Financial Services signals a deliberate avoidance of sectors often characterized by higher volatility or lower yield reliability.

This structural composition reveals that the fund is engineered to capture downside protection through income generation rather than capital appreciation from emerging trends. The heavy reliance on just nine holdings across Energy means that sector-specific downturns could disproportionately impact overall returns, underscoring a concentration risk inherent in this value-focused approach. By maintaining such a skewed distribution toward traditional dividend payers and limiting exposure to growth-intensive sectors like Technology, the fund effectively bets on economic resilience derived from established cash flows rather than speculative expansion.

AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-23 02:05:18.341559+00

Flow Driver Analysis

2-Step Circle

Which larger ETFs share SCHD's holdings — and mechanically drive its price through index rebalancing flows?

Approximately 100% of SCHD's weight flows through these larger ETFs

Driver ETF	AUM	Expense	Shared Stocks	Weight Overlap
SCHBSchwab U.S. Broad Market ETF	$37B	—	97	99.8%
ITOTiShares Core S&P Total U.S. Stock Market ETF	$80B	—	95	99.6%
SCHVSCHV	$15B	—	52	95.7%
SCHXSCHX	$61B	—	52	95.7%
URTHiShares MSCI World ETF	$7B	—	43	92.8%

100% of SCHD's portfolio by weight is also held by SCHB. When SCHB receives inflows, it mechanically buys these shared stocks — dragging SCHD's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofSCHD's weight.

Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.

ETF Look-Through Dashboard

Peer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.

21.1x

Weighted P/E

Harmonic weighted-average P/E across constituents. Excludes negative earnings. Resistant to outlier distortion.

6.71x

Weighted P/B

Weighted-average price-to-book ratio of constituent holdings.

$162B

Wtd Avg Market Cap

Weighted metrics calculated based on 90% of fund assets with available data.

Herfindahl-Hirschman Concentration Index

Well Diversified

Top 5: 22.0%Top 10: 42.5%

Morningstar-Style Box

Value

Blend

Growth

Large

Mid

Small

Large Blend

Sector & Cap Explorer

Visualization Mode

ETF Fundamental Radar

Total Analysis

91% Weight

Market Cap

Large

Risk Profile

Elevated

Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.

Piotroski F-Score (Operational Health)

Score 0-9: Measures Profitability, Leverage, and Efficiency

↑ Weight (%)100%80%60%40%20%

0–3 Weak

57%

4–6 Average

30%

7–9 Strong

Based on 91% of fund weight with Piotroski data.

Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation.

Dividend Safety True-Up

Deterministic

73%

Wtd FCF Payout Ratio

3.50%

TTM Yield

Stretched

Dividend Durability

73% of FCF

0% (retains all cash)50%100% (pays out everything)

The dividend-paying companies inside SCHD collectively pay out 73% of their Free Cash Flow to maintain the current yield. This is a sustainable payout level with moderate room for dividend growth. Based on 91% of fund weight in dividend-paying stocks.

FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.

Earnings vs. Price Decomposition

Proprietary

+24.2%

ETF 1Y Return

-0.5%

Wtd Earnings Growth

+24.7%

Multiple Expansion

P/E Inflation

SCHD is up 24.2% over the last 12 months. The underlying weighted earnings growth of its constituents is -0.5%. The remaining +24.7% of performance is driven by multiple expansion (P/E inflation) — prices rose faster than earnings grew.

Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 91% of fund weight with earnings data. Not investment advice.

Value Creation Map

ROIC vs WACC

What percentage of SCHD's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?

86% Creators

14% Destroyers

Value Creators (ROIC > WACC)75.9%

Value Destroyers12.6%

Of SCHD's analyzed weight, 86% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 14% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.

ROIC-WACC spread for 88% of fund weight with available data. Not investment advice.

Passive Crowding Score

MODERATE

How much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.

Wtd Avg Passive Ownership14.8%

Most Crowded HoldingSWKS (25.2%)

Least CrowdedJE00BJ1F3079 (5.1%)

Coverage92% of fund weight

0 — Low255075100 — Extreme

SCHD has a Passive Crowding Score of 49/100. On average, 14.8% of the market capitalization of SCHD's underlying holdings is structurally locked in passive ETF vehicles. This indicates moderate passive ownership density. Index rebalances and ETF creation/redemption activity can amplify short-term volatility in the underlying holdings.

Passive $ = Σ(ETF AUM × holding weight) across all 36 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.

Under the Hood — Top 15 Constituents

Top 10 Concentration42.5%

#	Ticker	Company	Weight	P/E	F-Score
1	LMT	Lockheed Martin Corp Industrials	4.82%	24.9x	6/9
2	COP	ConocoPhillips Energy	4.32%	19.1x	6/9
3	VZ	Verizon Communications Inc Communication Services	4.31%	10.7x	5/9
4	CVX	Chevron Corp Energy	4.31%	32.0x	6/9
5	BMY	Bristol-Myers Squibb Co Healthcare	4.28%	17.0x	9/9
6	MRK	Merck & Co Inc Healthcare	4.24%	36.0x	4/9
7	MO	Altria Group Inc Consumer Defensive	4.14%	15.2x	6/9
8	TXN	Texas Instruments Inc Technology	4.06%	49.7x	7/9
9	KO	Coca-Cola Co/The Consumer Defensive	4.03%	26.7x	7/9
10	PEP	PepsiCo Inc Consumer Defensive	4.01%	18.3x	4/9
11	AMGN	Amgen Inc Healthcare	3.93%	25.8x	7/9
12	HD	Home Depot Inc/The Consumer Cyclical	3.72%	24.7x	4/9
13	CSCO	Cisco Systems Inc Technology	3.58%	36.5x	8/9
14	ABBV	AbbVie Inc Healthcare	3.53%	124.8x	7/9
15	UPS	United Parcel Service Inc Industrials	3.08%	19.0x	6/9

The bottom 85 stocks in SCHD account for only 39.6% of the total fund weight.

Historical Holdings Snapshots

Browse how SCHD’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.

2026-07-18

15 holdings · 60.4% tracked weight

#	Ticker	Weight	Shares	Market Value
1	LMT	4.82%	6,286,794	$4.1B
2	COP	4.32%	32,739,681	$3.7B
3	VZ	4.31%	73,907,943	$3.7B
4	CVX	4.31%	19,828,701	$3.7B
5	BMY	4.28%	58,984,188	$3.7B
6	MRK	4.24%	29,391,100	$3.6B
7	MO	4.14%	51,460,942	$3.6B
8	TXN	4.06%	16,461,313	$3.5B
9	KO	4.03%	42,449,317	$3.5B
10	PEP	4.01%	20,301,478	$3.4B
11	AMGN	3.93%	8,701,903	$3.4B
12	HD	3.72%	8,398,291	$3.2B
13	CSCO	3.58%	38,660,269	$3.1B
14	ABBV	3.53%	13,055,218	$3.0B
15	UPS	3.08%	22,815,267	$2.6B

2026-07-17

15 holdings · 60.4% tracked weight

#	Ticker	Weight	Shares	Market Value
1	LMT	4.82%	6,286,794	$4.1B
2	COP	4.32%	32,739,681	$3.7B
3	VZ	4.31%	73,907,943	$3.7B
4	CVX	4.31%	19,828,701	$3.7B
5	BMY	4.28%	58,984,188	$3.7B
6	MRK	4.24%	29,391,100	$3.6B
7	MO	4.14%	51,460,942	$3.6B
8	TXN	4.06%	16,461,313	$3.5B
9	KO	4.03%	42,449,317	$3.5B
10	PEP	4.01%	20,301,478	$3.4B
11	AMGN	3.93%	8,701,903	$3.4B
12	HD	3.72%	8,398,291	$3.2B
13	CSCO	3.58%	38,660,269	$3.1B
14	ABBV	3.53%	13,055,218	$3.0B
15	UPS	3.08%	22,815,267	$2.6B

2026-07-16

15 holdings · 60.4% tracked weight

#	Ticker	Weight	Shares	Market Value
1	LMT	4.82%	6,286,794	$4.1B
2	COP	4.32%	32,739,681	$3.7B
3	VZ	4.31%	73,907,943	$3.7B
4	CVX	4.31%	19,828,701	$3.7B
5	BMY	4.28%	58,984,188	$3.7B
6	MRK	4.24%	29,391,100	$3.6B
7	MO	4.14%	51,460,942	$3.6B
8	TXN	4.06%	16,461,313	$3.5B
9	KO	4.03%	42,449,317	$3.5B
10	PEP	4.01%	20,301,478	$3.4B
11	AMGN	3.93%	8,701,903	$3.4B
12	HD	3.72%	8,398,291	$3.2B
13	CSCO	3.58%	38,660,269	$3.1B
14	ABBV	3.53%	13,055,218	$3.0B
15	UPS	3.08%	22,815,267	$2.6B

2026-07-15

15 holdings · 60.4% tracked weight

#	Ticker	Weight	Shares	Market Value
1	LMT	4.82%	6,286,794	$4.1B
2	COP	4.32%	32,739,681	$3.7B
3	VZ	4.31%	73,907,943	$3.7B
4	CVX	4.31%	19,828,701	$3.7B
5	BMY	4.28%	58,984,188	$3.7B
6	MRK	4.24%	29,391,100	$3.6B
7	MO	4.14%	51,460,942	$3.6B
8	TXN	4.06%	16,461,313	$3.5B
9	KO	4.03%	42,449,317	$3.5B
10	PEP	4.01%	20,301,478	$3.4B
11	AMGN	3.93%	8,701,903	$3.4B
12	HD	3.72%	8,398,291	$3.2B
13	CSCO	3.58%	38,660,269	$3.1B
14	ABBV	3.53%	13,055,218	$3.0B
15	UPS	3.08%	22,815,267	$2.6B

2026-07-14

15 holdings · 60.4% tracked weight

#	Ticker	Weight	Shares	Market Value
1	LMT	4.82%	6,286,794	$4.1B
2	COP	4.32%	32,739,681	$3.7B
3	VZ	4.31%	73,907,943	$3.7B
4	CVX	4.31%	19,828,701	$3.7B
5	BMY	4.28%	58,984,188	$3.7B
6	MRK	4.24%	29,391,100	$3.6B
7	MO	4.14%	51,460,942	$3.6B
8	TXN	4.06%	16,461,313	$3.5B
9	KO	4.03%	42,449,317	$3.5B
10	PEP	4.01%	20,301,478	$3.4B
11	AMGN	3.93%	8,701,903	$3.4B
12	HD	3.72%	8,398,291	$3.2B
13	CSCO	3.58%	38,660,269	$3.1B
14	ABBV	3.53%	13,055,218	$3.0B
15	UPS	3.08%	22,815,267	$2.6B

2026-07-13

15 holdings · 60.4% tracked weight

#	Ticker	Weight	Shares	Market Value
1	LMT	4.82%	6,286,794	$4.1B
2	COP	4.32%	32,739,681	$3.7B
3	VZ	4.31%	73,907,943	$3.7B
4	CVX	4.31%	19,828,701	$3.7B
5	BMY	4.28%	58,984,188	$3.7B
6	MRK	4.24%	29,391,100	$3.6B
7	MO	4.14%	51,460,942	$3.6B
8	TXN	4.06%	16,461,313	$3.5B
9	KO	4.03%	42,449,317	$3.5B
10	PEP	4.01%	20,301,478	$3.4B
11	AMGN	3.93%	8,701,903	$3.4B
12	HD	3.72%	8,398,291	$3.2B
13	CSCO	3.58%	38,660,269	$3.1B
14	ABBV	3.53%	13,055,218	$3.0B
15	UPS	3.08%	22,815,267	$2.6B

Source: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.

Risk Profile

14.3%

Annual Volatility

1.59

Sharpe (1Y)

0.68

Sharpe (3Y)

-16.1%

Max Drawdown (3Y)

-16.8%

Max Drawdown (5Y)

Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.

Fama-French 5-Factor Exposure

Academic factor model decomposition — what's really driving this ETF's returns.

0.71

Market β

+0.123

Size (SMB)

Small-cap tilt

+0.419

Value (HML)

Value tilt

+0.130

Profit (RMW)

Robust

+0.262

Invest (CMA)

Conservative

Alpha (annual): -1.16%

R²: 74.9%of variance explained by 5 factors

Fama-French 5-Factor Model. Data: Kenneth French Data Library. Regression over 3 years of daily returns.

Price Chart with Moving Averages

Loading chart...

What Drove SCHD Today?

Daily return attribution — which holdings contributed most (and least) to the fund's move.

Fund move:-0.39%(2026-07-17)

Top Contributors

CVX

+0.083%

CSCO

+0.074%

COP

+0.072%

Top Detractors

-0.098%

TXN

-0.100%

-0.159%

Attribution = holding weight × stock daily return. Only the top contributors and detractors are shown.

Technical Setup

AI Generated

SCHD is currently trading above its 50-day moving average but well below its longer-term 200-day moving average, suggesting a short-term uptrend amidst an overall neutral to slightly positive momentum as indicated by the RSI around neutrality.

Underwater (Drawdown from Peak)

How far below the all-time high the price has been over time. Deeper = more pain for holders.

Loading drawdown chart...

Rolling 60-Day Beta vs S&P 500 (VOO)

How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.

Loading beta chart...

Rolling Beta Market (β = 1.0)

Yield & Income

3.50%

TTM Yield

—

30-Day SEC Yield

—

5Y Div CAGR

Smart Money Flow

Institutional 13F filings from top hedge funds. Positions updated quarterly from SEC EDGAR.

Fund	Quarter	Shares Δ	% Change	Action
Millennium	2026-Q1	-2,974,387	-82.0%	Decreased
RenTech	2026-Q1	-1,810,741	-100.0%	Exited
Citadel	2026-Q1	-397,900	-22.4%	Decreased
Bridgewater	2026-Q1	-307,453	-93.2%	Decreased
DE Shaw	2026-Q1	-36,151	-3.4%	Decreased
Point72	2026-Q1	-28,500	-19.1%	Decreased
Two Sigma	2026-Q1	+2,300	+9.2%	Increased
Two Sigma	2025-Q4	-2,530,620	-99.0%	Decreased
RenTech	2025-Q4	+788,900	+77.2%	Increased
Millennium	2025-Q4	-679,554	-15.8%	Decreased
Citadel	2025-Q4	-457,800	-20.5%	Decreased
Bridgewater	2025-Q4	-153,253	-31.7%	Decreased
DE Shaw	2025-Q4	+104,802	+10.9%	Increased
Point72	2025-Q4	+98,500	+195.4%	Increased

Source: SEC 13F-HR filings. 13F data is delayed ~45 days after quarter end. Not investment advice.

Sector Drift Over Time

How SCHD’s sector allocation has shifted across snapshots. Use the slider to travel through time.

Energy20.3%

Consumer Defensive18.7%

Healthcare16.0%

Industrials9.8%

Other9.8%

Technology9.1%

Consumer Cyclical7.8%

Communication Services4.3%

Financial Services3.7%

Basic Materials0.6%

Change since 2026-03-26

Healthcare

-2.2%

Energy

+2.0%

Industrials

+1.3%

Other

-1.0%

Technology

-0.8%

Communication Services

+0.6%

2026-03-262026-07-18

Active Conviction Tracker

Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.

No position changes detected between snapshots.

AUM & Capital Flow Tracker

Estimated assets under management derived from SEC filings and daily price movements — tracks how the fund's value evolves over time.

Total Net Assets

$86.05B

Est. AUM Change (90d)

+$5.26B

Price Change (90d)

+6.50%

Filing Snapshots

Estimated AUMTNA Filing Date

Estimated AUM derived from the latest SEC N-PORT filing TNA ($86.05B) scaled by daily price changes. Filing snapshots update when new regulatory filings are published (quarterly for most funds, daily for ARK).

Compare SCHD to Peers

Pre-computed overlap analysis. Click to see side-by-side comparison with holdings-level detail.

SCHD vs VOOCompare Strategies: 7% Overlap

6.9%→

SCHD vs VTICompare Strategies: 6% Overlap

5.9%→

SCHD vs QQQCompare Strategies: 6% Overlap

5.5%→

SCHD vs ARKKCompare Strategies: 0% Overlap

0.0%→

⚠ Based on top 44 holdings only. Actual overlap may differ.

Explore More

Zero-Overlap ETFs All ETFs Portfolio Optimizer All Screeners →

Quant metrics computed deterministically from financial statements and price data. Updated: 2026-07-17.

SecuritiesDB is for informational purposes only. Not investment advice.