one of the most popular dividend ETFs in the markets SCHD has just completed its annual reconstitution and the results are shocking to say the least. And we have to discuss this immediately. And for those who don't know a reconstitution refers to updating and adjusting the composition of an ETF, and for SCHD then this is done on an annual basis. SCHD have basically removed 23 out of their total 100 holdings, and removed some of their top positions, and this definitely has an impact on the performance of SCHD doing forward.