The format continued to vary in the 1920s, usually along the lines of Amateurs vs Professionals, including one year (1927) where the Professionals were represented by the FA Cup holders Cardiff City and the Amateurs by the Corinthians, echoing the format of the trophy's predecessor, the Sheriff of London Charity Shield.

In 1930, the match returned to being contested by the winners of the Football League and the FA Cup, and with a few exceptions, that format has remained to the present day.

In 1971, Arsenal became the second team to win the Double since the Shield's foundation, but owing to their previously arranged pre-season friendly matches, they could not take part.

[12] In 1972, league champions Derby County and FA Cup winners Leeds United both declined to take part in the Charity Shield, so Manchester City, who had finished in fourth in the First Division, and Third Division champions Aston Villa were invited to take part; Manchester City won 1–0.

[17] In 2016, the FA's official silversmith Thomas Lyte restored and rebuilt the Football Association's original 1908 Charity Shield to mark 50 years since England beat West Germany in the 1966 FIFA World Cup.

[22][23][24] However, it has been treated with varying degrees of seriousness by participating teams, with some using it similarly to friendlies in their pre-season schedule – as an opportunity to give match practice to fringe members of their squads or those returning from injury.

BBC Sport pundit Mark Lawrenson and The Guardian writer Tom Bryant both described the match as a "glorified friendly".

[25][26] Prior to the 2008 FA Community Shield, Manchester United manager Sir Alex Ferguson summarised his opinion of the competition: "The Community Shield is a prestigious match but I have used players in it who were not quite fit... it's always a game we never quite use as a do or die thing; we use it as a barometer for fitness".

[29][30][31] Ahead of the 2016 FA Community Shield against Manchester United, Leicester City manager Claudio Ranieri asked, "Why do you say this question, a friendly?

"[23] The following year, Chelsea manager Antonio Conte affirmed the significance of the cup, stating "It is not a friendly game.

[32] Likewise in 2018, Manchester City manager Pep Guardiola referred to his side's clash with Chelsea in the competition as "the first final" of the season.

This is a match which recognises two clubs who had a good year, with a traditional place in our football calendar at the start of the new season.