Dividend (SCHD): the last 12 months

SCHD is up 41.7% over 1Y and at a 5-year high; its 90-day change is +8.3%, up from +1.2% at the end of September. It fell 6.0% in September's rates shock, then beat QQQ by 16.6 pp in October on the rotation out of AI platforms plus its energy and defensive holdings (energy contributed +2.46 pp at current weights). Status quo for US equity: intact.

Status quo card: Dividend (SCHD), intact.

Month by month

Computed in code. Change: the calendar-month change (z against its own monthly history). 90-day: the trailing 90-day change at the month-end. Rank: its place among that month's biggest moves. Causes: the surviving monthly causes acting on it (a force's loading on this asset times the month's fitted strength, in standard deviations). ETF holdings use current weights (an approximation).

Month	Change	90-day	Causes
November 2026 (month to date)	+1.2% (z 0.6)	+8.3%	none of the surviving causes loads on it
October 2026	+10.0% (z 2.2)	+7.8%	AI capex doubts: rotation out of AI platforms and chips into dividend payers (drove: Dividend (SCHD) beat Nasdaq 100 (QQQ) by 16.6 pp, score 14.8); Defensive rotation lifted SCHD's staples and health care holdings (drove: Dividend (SCHD) beat Nasdaq 100 (QQQ) by 16.6 pp, score 13.2); High oil prices lifted SCHD's energy holdings (oil supply shock) (drove: Dividend (SCHD) beat Nasdaq 100 (QQQ) by 16.6 pp, score 10.0) Top holdings by contribution: ACN +1.45 pp, COP +0.98 pp, LMT +0.76 pp. Sectors: Energy +2.46 pp, Technology +1.77 pp, Consumer Defensive +1.65 pp (current weights, an approximation).
September 2026	−6.0% (z -1.9)	+1.2%	none of the surviving causes loads on it
August 2026	+4.2% (z 0.8)	+8.6%	none of the surviving causes loads on it
July 2026	+5.5% (z 1.1)	+5.9%	Rotation from chips into old-economy stocks, with SCHD's energy holdings lifted by oil (drove: Dividend (SCHD) beat Nasdaq 100 (QQQ) by 12.1 pp, score 15.2) Top holdings by contribution: ACN +1.20 pp, QCOM -0.86 pp, CVX +0.80 pp. Sectors: Energy +1.98 pp, Healthcare +1.37 pp, Technology +0.54 pp (current weights, an approximation).
June 2026	−1.6% (z -0.8)	+4.8%	none of the surviving causes loads on it
May 2026	+1.3% (z 0.0)	+2.9%	none of the surviving causes loads on it
April 2026	+4.5% (z 0.9)	+8.4%	none of the surviving causes loads on it
March 2026	−2.6% (z -0.9)	+12.8%	none of the surviving causes loads on it
February 2026	+6.5% (z 1.5)	+16.3%	none of the surviving causes loads on it
January 2026	+8.7% (z 2.2)	+12.6%	none of the surviving causes loads on it Top holdings by contribution: TXN +1.20 pp, LMT +0.94 pp, CVX +0.69 pp. Sectors: Energy +1.94 pp, Consumer Defensive +1.18 pp, Industrials +1.08 pp (current weights, an approximation).
December 2025	+0.4% (z -0.0)	+1.3%	none of the surviving causes loads on it
November 2025	+3.1% (z 0.7)	−0.2%	none of the surviving causes loads on it

What drove each month · All assets

Not investment advice. MarketMoves describes past market data and reported news for general information. Figures can be delayed or wrong; check the original source before relying on them.