AAT vs. SCHX

Last updated Jun 4, 2026

AAT (American Assets Trust, Inc.) is a stock, while SCHX (Schwab U.S. Large-Cap ETF) is Large Cap Blend Equities fund tracking the Dow Jones U.S. Large-Cap Total Stock Market Index. Over the past 10 years, AAT returned -1.66%/yr vs 15.41%/yr for SCHX. At a 0.47 correlation, their price movements are largely independent.

Performance

AAT vs. SCHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Assets Trust, Inc. (AAT) and Schwab U.S. Large-Cap ETF (SCHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAT achieves a 25.33% return, which is significantly higher than SCHX's 10.72% return. Over the past 10 years, AAT has underperformed SCHX with an annualized return of -1.66%, while SCHX has yielded a comparatively higher 15.41% annualized return.

AAT

• 1D: -0.09%
• 1M: 13.31%
• YTD: 25.33%
• 6M: 23.83%
• 1Y: 24.39%
• 3Y*: 12.82%
• 5Y*: -4.36%
• 10Y*: -1.66%

SCHX

• 1D: -0.70%
• 1M: 5.06%
• YTD: 10.72%
• 6M: 10.60%
• 1Y: 27.36%
• 3Y*: 22.38%
• 5Y*: 13.29%
• 10Y*: 15.41%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAT vs. SCHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AAT American Assets Trust, Inc.	25.33%	-22.96%	23.32%	-9.58%	-26.36%	34.03%	-35.04%	17.11%	8.14%	-8.89%
SCHX Schwab U.S. Large-Cap ETF	10.72%	17.46%	24.88%	26.84%	-19.41%	26.81%	20.81%	31.22%	-4.66%	21.95%

Correlation

The correlation between AAT and SCHX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jan 14, 2011	0.47

Over the past year, the correlation between AAT and SCHX has dropped to 0.26 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.

Return for Risk

AAT vs. SCHX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAT

AAT Risk / Return Rank: 68
AAT Sharpe Ratio Rank: 72
AAT Sortino Ratio Rank: 64
AAT Omega Ratio Rank: 64
AAT Calmar Ratio Rank: 71
AAT Martin Ratio Rank: 69

SCHX

SCHX Risk / Return Rank: 67
SCHX Sharpe Ratio Rank: 68
SCHX Sortino Ratio Rank: 66
SCHX Omega Ratio Rank: 67
SCHX Calmar Ratio Rank: 60
SCHX Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAT vs. SCHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Assets Trust, Inc. (AAT) and Schwab U.S. Large-Cap ETF (SCHX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AAT	SCHX	Difference
Sharpe ratio: Return per unit of total volatility	1.01	2.29	-1.28
Sortino ratio: Return per unit of downside risk	1.45	3.14	-1.68
Omega ratio: Gain probability vs. loss probability	1.19	1.41	-0.22
Calmar ratio: Return relative to maximum drawdown	1.75	3.05	-1.29
Martin ratio: Return relative to average drawdown	3.55	13.85	-10.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AAT vs. SCHX - Sharpe Ratio Comparison

The current AAT Sharpe Ratio is 1.01, which is lower than the SCHX Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of AAT and SCHX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AAT	SCHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	2.29	-1.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.16	0.78	-0.94
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.05	0.85	-0.91
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.85	-0.70

Drawdowns

AAT vs. SCHX - Drawdown Comparison

The maximum AAT drawdown since its inception was -61.85%, which is greater than SCHX's maximum drawdown of -34.33%. Use the drawdown chart below to compare losses from any high point for AAT and SCHX.

Drawdown Indicators

	AAT	SCHX	Difference
Max Drawdown Largest peak-to-trough decline	-61.85%	-34.33%	-27.52%
Max Drawdown (1Y) Largest decline over 1 year	-13.97%	-9.02%	-4.95%
Max Drawdown (3Y) Largest decline over 3 years	-38.02%	-19.04%	-18.98%
Max Drawdown (5Y) Largest decline over 5 years	-56.18%	-25.41%	-30.77%
Max Drawdown (10Y) Largest decline over 10 years	-61.85%	-34.33%	-27.52%
Current Drawdown Current decline from peak	-34.87%	-0.70%	-34.17%
Average Drawdown Average peak-to-trough decline	-20.15%	-3.97%	-16.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.89%	1.98%	+4.91%

Volatility

AAT vs. SCHX - Volatility Comparison

American Assets Trust, Inc. (AAT) has a higher volatility of 6.20% compared to Schwab U.S. Large-Cap ETF (SCHX) at 2.91%. This indicates that AAT's price experiences larger fluctuations and is considered to be riskier than SCHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAT	SCHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.20%	2.91%	+3.29%
Volatility (6M) Calculated over the trailing 6-month period	16.47%	9.02%	+7.45%
Volatility (1Y) Calculated over the trailing 1-year period	24.16%	11.99%	+12.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.05%	17.12%	+10.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.09%	18.15%	+12.94%

Dividends

AAT vs. SCHX - Dividend Comparison

AAT's dividend yield for the trailing twelve months is around 5.83%, more than SCHX's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAT American Assets Trust, Inc.	5.83%	7.18%	5.10%	5.86%	4.83%	3.09%	3.46%	2.48%	2.71%	2.75%	2.34%	2.47%
SCHX Schwab U.S. Large-Cap ETF	1.01%	1.09%	1.22%	1.39%	1.64%	1.22%	1.64%	1.82%	2.02%	1.70%	1.92%	2.04%

Frequently Asked Questions

Can I hold both AAT and SCHX in my portfolio?

AAT and SCHX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAT or SCHX?

AAT has higher volatility (6.20%) compared to SCHX (2.91%). In terms of maximum drawdown, AAT dropped -61.85% vs SCHX's -34.33%.

Which has better risk-adjusted returns?

SCHX currently has the higher Sharpe Ratio (2.29 vs 1.01), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.