Investment Strategy2025-09-28
Dividend Aristocrat ETFs Shine in Volatile Markets: SCHD vs VYM Compared
As market volatility rises, dividend-focused ETFs like SCHD and VYM are drawing increased investor attention for their ability to deliver stable income. Building a portfolio that balances dividend growth with stability is becoming more important than ever.
관리자Reuters
In an environment of heightened market volatility, dividend ETFs that provide stable income streams are attracting growing investor interest. In particular, dividend-focused investment strategies centered on SCHD (Schwab US Dividend Equity ETF) and VYM (Vanguard High Dividend Yield ETF) are emerging as core building blocks of defensive portfolio construction.
SCHD’s Dividend Growth Strategy and Its Strengths
SCHD stands out for its selective strategy that weighs both dividend growth potential and financial soundness. It screens for companies with at least 10 consecutive years of dividend payments, evaluating dividend growth rate, dividend-to-cash-flow ratio, ROE, and other metrics to include only high-quality names. SCHD currently yields around 3.4%, higher than VYM’s 2.8%, and charges just 0.06% in expenses—making it well-suited for long-term investing. Key holdings such as Broadcom, Merck, Amgen, and Home Depot all have strong track records of consistent dividend growth, suggesting continued increases going forward. In an asset allocation calculator, SCHD can be weighted at 40–50% of a dividend-focused portfolio, serving as a reliable source of income during periods of elevated market volatility. By using a rebalancing calculator to maintain SCHD’s target weight while reinvesting dividends, investors can maximize the power of compounding.
Comparing VYM and Other Dividend ETFs
VYM takes a different approach by allocating broadly to large-cap, high-dividend stocks based on market capitalization, resulting in characteristics distinct from SCHD. With holdings in 537 companies—far more than SCHD’s 104—VYM offers considerably wider diversification, with higher concentrations in traditional high-yield sectors such as financials, energy, and utilities. SCHD, by contrast, carries relatively more weight in technology and healthcare, blending income with a degree of growth potential. NOBL (ProShares S&P 500 Dividend Aristocrats ETF) applies an even stricter standard, investing only in companies with at least 25 consecutive years of dividend growth, though its expense ratio of 0.35% is somewhat higher. For asset allocation purposes, a blend of SCHD 40%, VYM 30%, NOBL 20%, and VIG (Vanguard Dividend Appreciation ETF) 10% can provide a balanced pursuit of both dividend income and growth. Conducting quarterly rebalancing with attention to each ETF’s sector composition and dividend policy is an effective approach.
Dividend Stocks as an Inflation Hedge
In a persistently inflationary environment, dividend growth stocks are well-positioned to preserve purchasing power and secure real returns. Companies held in dividend growth ETFs like SCHD typically possess strong pricing power, enabling them to pass inflationary cost pressures on to customers through higher prices. Consumer staples companies with powerful brand recognition and utilities with dominant market positions, in particular, can sustain dividend growth that keeps pace with—or outpaces—inflation. Historically, dividend growth stocks have delivered above-market real returns during periods of rising inflation. For investors seeking inflation protection in their asset allocation, pairing SCHD with funds like TIP (iShares TIPS Bond ETF) or VNQ (Vanguard Real Estate ETF) can further strengthen a portfolio’s inflation defenses. In a rebalancing calculator, setting return targets on a real (inflation-adjusted) basis allows for more precise portfolio management.
Building a Defensive Portfolio Around Dividend ETFs
During periods of elevated market uncertainty, defensive portfolio construction centered on dividend ETFs is gaining attention. Combining SCHD and VYM with funds like SPHD (Invesco S&P 500 High Dividend Low Volatility ETF) or JEPI (JPMorgan Equity Premium Income ETF) can provide both reliable cash flow and meaningful downside protection. JEPI and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) generate monthly distributions through covered call strategies, making them particularly suitable for retirees and conservative investors who rely on regular income. In an asset allocation calculator, a defensive portfolio might look like: equities at 50% (with 70% in dividend ETFs and 30% in growth ETFs), bonds at 40% (centered on AGG), and alternatives at 10% (REITs, gold, etc.). Such a portfolio can deliver relatively stable performance in down markets while still generating real returns that outpace inflation over the long term. Regular rebalancing helps maintain the desired balance across asset classes, and dividend reinvestment amplifies the compounding effect over time.
결론
In a high-volatility market environment, investing in dividend ETFs—particularly SCHD and VYM—can simultaneously deliver stable income and serve as an effective inflation hedge. We encourage you to use an asset allocation calculator and a rebalancing calculator to build a defensive portfolio tailored to your individual investment goals.
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#rebalancing calculator#asset allocation calculator#SCHD#dividend ETF#defensive investing
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