DWAS vs SCHD
Invesco Dorsey Wright SmallCap Momentum ETF vs Schwab US Dividend Equity ETF
Which is better, DWAS or SCHD?
Small Cap Growth against Large Cap Value.
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window. DWAS is less concentrated, with 14.1% of the fund in its ten largest positions against 41.6%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | DWAS | SCHD |
|---|---|---|
| Expense Ratio | 0.60% | 0.06%Best |
| AUM | $390M | $111.6B |
| Dividend Yield | 0.03% | 3.24% |
| Holdings | 408 | 206 |
| YTD Return | +6.74% | +24.55%Best |
| 1Y Return | +6.86% | +29.85%Best |
| 3Y Return (annualized) | +12.95% | +16.64%Best |
| 5Y Return (annualized) | +2.98% | +9.54%Best |
| Volatility (annualized) | 21.3% | 14.0%Best |
| Max Drawdown | -46.2% | -33.4%Best |
| $10,000 over 5 years | $11,581 | $15,771Best |
| Top 10 Weight | 14.1%Best | 41.6% |
| Fund Family | Invesco (US) | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | Small Cap Growth | Large Cap Value |
| Inception | Jul 19, 2012 | Oct 20, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Jul 19, 2012 to Oct 14, 2026 (14.2 years).
DWAS vs SCHD growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 14.2 years both funds cover.
DWAS vs SCHD Performance
Invesco Dorsey Wright SmallCap Momentum ETF (DWAS) is an ETF from Invesco (US) and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year DWAS returned +6.86% while SCHD returned +29.85%. Year to date, DWAS is up 6.74% versus a gain of 24.55% for SCHD.
Over three years, DWAS compounded at +12.95% per year against +16.64% for SCHD; over five years the annualized figures are +2.98% and +9.54% respectively. Across the full 14-year window we track, SCHD has the edge at +10.91% annualized vs +10.68%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DWAS has been the more volatile fund, with annualized monthly volatility of 21.3% compared with 14.0% for SCHD. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -46.2% for DWAS and -33.4% for SCHD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.67. They move together some of the time, and apart the rest.
Fees and Cost Over Time
DWAS charges 0.60% per year while SCHD charges 0.06%. On a $10,000 position that is $60 vs $6 annually, a gap of $54 per year that compounds over a long holding period. On income, DWAS currently yields 0.03% against 3.24% for SCHD.
Holdings Overlap
1.2% of DWAS's money is in holdings SCHD also owns. 0.1% of SCHD's money is in holdings DWAS also owns.
DWAS and SCHD share little of their money.
3 positions in common, counted across the 200 positions we hold weights for in DWAS and 98 in SCHD, against full books of 408 and 206.
What only one of them owns
Our book lists 95 positions for SCHD that do not appear in our book for DWAS (99.7% of the fund), and 192 for DWAS that do not appear in SCHD (96.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of DWAS and SCHD you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DWAS or SCHD?
DWAS has an expense ratio of 0.60% while SCHD charges 0.06%. SCHD is the cheaper option, by $54 a year on a $10,000 investment.
Which performed better, DWAS or SCHD?
Over the past year DWAS returned +6.86% vs +29.85% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (14 years), DWAS annualized +10.68% vs +10.91% for SCHD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DWAS or SCHD?
DWAS has been the more volatile fund at 21.3% annualized versus 14.0% for SCHD. Worst drawdown: DWAS -46.2% vs SCHD -33.4%.
Should I hold both DWAS and SCHD?
DWAS and SCHD have a monthly-return correlation of 0.67, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between DWAS and SCHD?
1.2% of DWAS's money is in holdings SCHD also owns. 0.1% of SCHD's is in holdings DWAS also owns. They hold 3 positions in common, counted across the 200 positions we hold weights for in DWAS and 98 in SCHD.
Which pays a higher dividend, DWAS or SCHD?
DWAS yields 0.03% while SCHD yields 3.24%, so SCHD currently pays the higher dividend yield.
Is SCHD better than DWAS?
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window. DWAS is less concentrated, with 14.1% of the fund in its ten largest positions against 41.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.