Schwab U.S. Dividend Equity ETF (SCHD) and NEOS Nasdaq-100 High Income ETF (QQQI) both appeal to income investors, but they generate dividends in very different ways. SCHD relies on dividends paid by its holdings, while QQQI earns income mainly through an options strategy. In simple terms, QQQI pays more income, while SCHD offers more consistency. A look at SCHD dividend history and QQQI dividend history shows how wide that gap has become.
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SCHD: Steady Quarterly Dividends
SCHD pays dividends on a quarterly basis, using the cash income generated by its underlying holdings. As shown in the SCHD dividend history image below, payouts in 2024 and 2025 have generally ranged between $0.25 and $0.28 per quarter.
SCHD currently has a low expense ratio of 0.06%, a dividend yield of 3.33%, and about $91.58 billion in assets under management, making it one of the largest dividend-focused ETFs on the market.
Currently, SCHD’s five holdings with the highest upside potential are Accenture (ACN), Nexstar Media (NXST), Abbott Laboratories (ABT), CVB Financial (CVBF), and Home Depot (HD). At the same time, the ETF’s five holdings with the highest downside potential are Qualcomm (QCOM), Cohen & Steers (CNS), Wendy’s (WEN), T. Rowe Price (TROW), and MSC Industrial Direct (MSM).
SCHD’s dividends tend to remain consistent from one quarter to the next, which is why many investors use it as a long-term income ETF rather than a high-yield product.
QQQI: Higher Monthly Payouts
QQQI follows a very different model. The ETF pays monthly dividends, driven mainly by an options-based income strategy tied to the Nasdaq-100. As shown in the QQQI dividend history table, recent monthly payouts in 2025 and 2026 have mostly ranged between $0.61 and $0.64 per share. QQQI offers a much higher dividend yield of 13.43%, though it comes with a higher expense ratio of 0.68%. The ETF currently manages about $12 billion in assets under management.
Currently, QQQI’s five holdings with the highest upside potential are Strategy (MSTR), Insmed (INSM), Charter Communications (CHTR), Axon Enterprise (AXON), and Thomson Reuters (TRI). Meanwhile, the ETF’s five holdings with the highest downside potential are Intel (INTC), CrowdStrike (CRWD), Fortinet (FTNT), Marvell Technology (MRVL), and Micron Technology (MU).
That structure results in much higher cash payouts compared with SCHD, but the amounts can move up or down from month to month depending on market conditions and options income.
Bottom Line
For income-focused investors, the better choice depends on risk tolerance. Those who value consistency and stability may lean towards SCHD. Investors willing to accept variable payouts for higher income may find QQQI more appealing.