ETY vs SCHX
Eaton Vance Tax-Managed Diversified Equity Income Fund vs Schwab US Large-Cap ETF
Which is better, ETY or SCHX?
SCHX has been ahead.
SCHX has a lower expense ratio. SCHX led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.90. SCHX is less concentrated, with 36.9% of the fund in its ten largest positions against 50.5%.
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 | ETY | SCHX |
|---|---|---|
| Expense Ratio | 1.06% | 0.03%Best |
| AUM | $1.8B | $75.3B |
| Dividend Yield | 7.52% | 1.04% |
| Holdings | 61 | 752 |
| YTD Return | -1.64% | +13.46%Best |
| 1Y Return | -2.16% | +16.47%Best |
| 3Y Return (annualized) | +15.68% | +22.38%Best |
| 5Y Return (annualized) | +7.91% | +12.48%Best |
| Volatility (annualized) | 16.4% | 14.5%Best |
| Max Drawdown | -47.5% | -34.3%Best |
| $10,000 over 5 years | $14,632 | $18,004Best |
| Top 10 Weight | 50.5% | 36.9%Best |
| Fund Family | Eaton Vance | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 27, 2006 | Nov 3, 2009 |
Volatility and max drawdown are measured over the window both funds cover: Nov 3, 2009 to Oct 15, 2026 (16.9 years).
ETY vs SCHX 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 16.9 years both funds cover.
ETY vs SCHX Performance
Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) is an ETF from Eaton Vance and Schwab US Large-Cap ETF (SCHX) is an ETF from Charles Schwab Asset Management. Over the past year ETY returned -2.16% while SCHX returned +16.47%. Year to date, ETY is down 1.64% versus a gain of 13.46% for SCHX.
Over three years, ETY compounded at +15.68% per year against +22.38% for SCHX; over five years the annualized figures are +7.91% and +12.48% respectively. Across the full 17-year window we track, SCHX has the edge at +13.07% annualized vs +3.29%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETY has been the more volatile fund, with annualized monthly volatility of 16.4% compared with 14.5% for SCHX. 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 -47.5% for ETY and -34.3% for SCHX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
ETY charges 1.06% per year while SCHX charges 0.03%. On a $10,000 position that is $106 vs $3 annually, a gap of $103 per year that compounds over a long holding period. On income, ETY currently yields 7.52% against 1.04% for SCHX.
Holdings Overlap
95.3% of ETY's money is in holdings SCHX also owns. 46.2% of SCHX's money is in holdings ETY also owns.
Most of ETY is already inside SCHX. Owning both mostly buys the same companies twice.
The two holdings books were reported 64 days apart, ETY as of Jul 31, 2026 and SCHX as of Oct 3, 2026, so some of the difference between them is the time between the two reports rather than the funds.
51 positions in common, counted across the 58 positions we hold weights for in ETY and 752 in SCHX, against full books of 61 and 752.
What only one of them owns
Our book lists 678 positions for SCHX that do not appear in our book for ETY (53.0% of the fund), and 3 for ETY that do not appear in SCHX (1.5%).
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.
Top Shared Holdings
| Stock | Weight in ETY | Weight in SCHX | Difference |
|---|---|---|---|
| NVDANvidia Corp | 9.28% | 8.02% | 1.26% |
| AAPLApple, Inc | 7.05% | 6.90% | 0.15% |
| MSFTMicrosoft Corp | 6.19% | 5.44% | 0.75% |
| GOOGAlphabet Inc. C | 7.02% | 2.29% | 4.73% |
| AMZNAmazon.Com Inc | 5.50% | 3.50% | 2.00% |
| AVGOBroadcom Inc | 4.14% | 2.40% | 1.74% |
| METAMeta Platforms Inc | 2.35% | 2.28% | 0.07% |
| JPMJpmorgan Chase | 3.23% | 1.25% | 1.98% |
| LLYEli Lilly & Co. | 2.66% | 1.30% | 1.36% |
| VVisa Inc Class A | 2.76% | 0.87% | 1.89% |
95.3% of ETY is already inside SCHX.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, ETY or SCHX?
ETY has an expense ratio of 1.06% while SCHX charges 0.03%. SCHX is the cheaper option, by $103 a year on a $10,000 investment.
Which performed better, ETY or SCHX?
Over the past year ETY returned -2.16% vs +16.47% for SCHX, so SCHX leads on 1-year performance. Over the longest common window we track (17 years), ETY annualized +3.29% vs +13.07% for SCHX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ETY or SCHX?
ETY has been the more volatile fund at 16.4% annualized versus 14.5% for SCHX. Worst drawdown: ETY -47.5% vs SCHX -34.3%.
Should I hold both ETY and SCHX?
ETY and SCHX have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between ETY and SCHX?
95.3% of ETY's money is in holdings SCHX also owns. 46.2% of SCHX's is in holdings ETY also owns. They hold 51 positions in common, counted across the 58 positions we hold weights for in ETY and 752 in SCHX.
Which pays a higher dividend, ETY or SCHX?
ETY yields 7.52% while SCHX yields 1.04%, so ETY currently pays the higher dividend yield.
Is SCHX better than ETY?
SCHX has a lower expense ratio. SCHX led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.90. SCHX is less concentrated, with 36.9% of the fund in its ten largest positions against 50.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.