SCHD Vs. VYM: Which Dividend ETF Is The Better Buy?

Summary

After years of underperforming the Schwab US Dividend Equity ETF, the Vanguard High Dividend ETF is now outperforming it.
To determine what this means for future performance we examine the differences in how their indexes are constructed, how their dividends compare, and the differences in their Sector Allocations.
We consider how rising rates will impact their appeal to investors and suggest the scenarios under which each ETF, or neither, would be a better investment.