Backtest

SCHD monthly investing backtest: dividends in cash

How would cash income and portfolio value differ without reinvesting SCHD dividends?

SCHD 100% from 2012-01-03 to 2026-10-23, with KRW 10 million initially and KRW 500,000 monthly, dividends paid in cash, and KRW reporting.

Data as of 2026-10-23

Backtest results

Backtest Period 2012.01.03 ~ 2026.10.23 · 14 yr 10 mo
Dividend reinvestment is off: dividends on shares held going into each ex-dividend date are booked as cash in the reporting currency on that date. The cash earns 0% and is not reinvested, even when contributions are made or the portfolio is rebalanced. This differs from receiving dividends on the actual payment date.
Final Balance ₩311M
Invested ₩99M
Gain +₩212M
Before taxes and trading costs
Annualized return +13.0%
2.0pp behind SPY
Max drawdown · daily -26.4%
Peak ₩111M → low ₩82M
5 months from trough to recovery
Loss after a 1-year hold 4%
6 of 166 past windows
None when held 3+ years
SPY 2%

Cash included in total assets: ₩51M · 0% cash interest

Performance

Growth Chart

My Portfolio CAGR +13.0%
SPY CAGR +15.0%
Money put in
Shaded: major market crises COVID-19 (Feb–Mar 2020)Bear Market (2022)
Drawdown (same period)
0%-26%Low -26.4% · 2020-03

Holding-period outcomes

Held 1 year(s), 4% of start dates lost money; held 3 years, none did · worst +5.6%/yr

Held Annualized return · worst to best Losses
1 years -8.3% ~ +47.5% 4%6/166
3 years +5.6% ~ +23.3% 0%0/142
5 years +7.4% ~ +18.7% 0%0/118
7 years +9.2% ~ +15.3% 0%0/94
10 years +11.5% ~ +15.0% 0%0/58
Return spread for one holding periodPick a holding period to see its spread and each start month
Worst · average · best by holding period (table)Per-year returns and share of positive periods for 1–10 year holds
Show the numbers
1 years166-8.3%+13.6%+47.5% 96%
3 years142+5.6%+12.8%+23.3% 100%
5 years118+7.4%+13.0%+18.7% 100%
7 years94+9.2%+12.9%+15.3% 100%
10 years58+11.5%+13.0%+15.0% 100%

Annual & monthly returns

Up in 13 of 14 years · best 2021 +36.8% · worst 2018 -1.2%

Completed months · through 2026-09

Partial years: 2026. Each year includes only its observed months.

-20%-10%0%10%20%30%40%20122014201620182020202220242026
Portfolio SPY
Show the numbers · Completed calendar years
13/14 Positive Years
93% Win Rate
3/14 Beat Benchmark
7yr Longest Winning Streak
7yr Current Streak
±12.4% Annual Return Std Dev
Current Streak 1 mo up
Longest Gain Streak 7mo
Longest Loss Streak 4mo

Trailing returns

Up to 1 year: total return · 3 years and longer: per year As of 9/2026
1 yearstotal +15.8% +10.9% +4.9pp
3 yearsper year +13.0% +21.1% -8.1pp
5 yearsper year +10.4% +15.4% -4.9pp
10 yearsper year +12.9% +16.3% -3.4pp
Fullper year +12.7% +15.2% -2.6pp
Growth Milestones2× in 9.1 yrs · 3× in 14.1 yrs
3.2× your principal ₩99M → now ₩311M
  1. 1.5× Reached 2016-11 · took 4.9 yrs
  2. 2× Reached 2021-02 · took 9.1 yrs
  3. 3× Reached 2026-02 · took 14.1 yrs
  4. 5× Needs another 59% gain
  5. 10× Needs another 217% gain
Purchasing power — assuming 2.5% annual inflation+10.2% a year after inflation · +13.0% before

Annualized return

Nominal +13.0%
Real (Infl.-Adj.) +10.2%

Cumulative return

Nominal +511.1%
Real (Infl.-Adj.) +323.9%

Risk & recovery

Deepest fall -26.4% (2020.03) · 194 days from peak to recovery · now 5.3% below the peak

vs SPY

The same money in SPY would have grown to ₩379M, ₩69M more than this portfolio

Assets & diversification

Scenarios

Shuffles past monthly returns into 500 possible futures

Data & export

15 years of yearly and 3,725 days of daily records · CSV download