The Schwab US Dividend Equity ETF (SCHD) has staged a strong comeback this month and is steadily approaching its all-time high, as investors seek shelter from ongoing jitters in the artificial intelligence (AI) industry. SCHD climbed to $34.70, its highest level since September 4, and has surged more than 45% from its 2025 low.
SCHD ETF inflows jump as tech jitters jump
The Schwab US Dividend ETF has done well in the past few days and is slowly nearing its all-time high. This surge has coincided with the ongoing inflows among investors. Inflows have jumped by nearly $10 billion in the last three months.
The SCHD ETF has gained over $24 billion in assets in the last 12 months, bringing its assets under management (AUM) to over $115 billion. This amount makes it the biggest dividend ETF in the world. It recently passed the Vanguard Dividend Appreciation (VIG) ETF, which now holds $112 billion.
The fund has continued to gain assets as investors focus on the ongoing jitters surrounding the artificial intelligence industry. Ken Griffin, the billionaire founder of Citadel, warned that we are in an AI bubble, comparing it with the dot-com bubble. Other top analysts have warned about this as the AI Bubble Index soars has jumped.
SCHD is widely seen as the anti-AI ETF because it has just a handful of companies in the artificial intelligence industry. Texas Instruments and Qualcomm are its biggest AI constituents.
Instead, the biggest companies in the fund are in traditional industries like consumer staples and healthcare. Some of these firms are Procter & Gamble, Chevron, ConocoPhillips, Coca-Cola, and Amgen.
Earnings season to determine next phase of SCHD
The next important catalyst for the SCHD ETF will be the ongoing earnings season, which started last week. Many companies have already published strong results. Big banks like JPMorgan, Goldman Sachs, and Morgan Stanley released strong numbers last week.
In all, FactSet data shows that analysts expect the S&P 500 Index will have an earnings growth of over 29% during this season. Companies are benefiting from a fairly resilient consumer during the season.
Texas Instruments, its biggest company, will release its results later today, while Procter & Gamble will publish its numbers on Thursday. Chevron, another top company, will release its earnings on October 30, while Qualcomm, Amgen, and Home Depot will report later on.
SCHD ETF technical analysis
The daily chart shows that the SCHD ETF has done well in the past few days. It jumped from a low of $32.3 on October 6 to the current $34.70. This rebound happened after it landed along the ascending trendline that links its lowest swings since November last year.
SCHD has remained above the 200-day moving average since November, a sign that bulls are in control. It has also moved above the Major S/R Pivot Point of the Murrey Math Lines tool.
Therefore, the path of least resistance for the fund is bullish, with the initial target to watch being at $35.28. A move above that price will point to more gains towards the psychological level of $30. Such a move will invalidate the double-top pattern.