The schwab dividend etf, schd, has reportedly generated significant returns, with $1 million growing to $2.3 million since 2016 and yielding $53,000 per year in dividends without reinvestments. However, some reports suggest that the fund's performance may not be as strong as it appears, with a possible 38% decade-long performance gap. The fund has also made recent changes and had a 12% dividend hike, prompting consideration of its suitability for retirees and its value as a dividend growth etf.