What is the difference between schizophrenia and a severe depression with psychotic features?

Dep. vs. Schiz.: Depression with psychosis shows psychotic symptoms that are congruent with the mood, ex. Hearing voices saying bad things about them. Schizophrenia is non-congruent or bizarre hallucinations such as voices of aliens discussing the person between each other, or bizarre delusions, while in depression the delusions are negative or derogatory, etc.

Psychosis: Is the common symptom, but the causes and the progression are very different. Depression with psychosis can resolve and may never recur, but schizophrenia is a chronic illness.