BFEB vs. SCHD

Last updated Apr 1, 2026

Compare and contrast key facts about Innovator S&P 500 Buffer ETF - February (BFEB) and Schwab U.S. Dividend Equity ETF (SCHD).

BFEB and SCHD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BFEB is a passively managed fund by Innovator that tracks the performance of the Cboe S&P 500 Buffer Protect Index February Series. It was launched on Jan 31, 2020. SCHD is a passively managed fund by Charles Schwab that tracks the performance of the Dow Jones U.S. Dividend 100 Index. It was launched on Oct 20, 2011. Both BFEB and SCHD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

BFEB vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator S&P 500 Buffer ETF - February (BFEB) and Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

BFEB vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BFEB Innovator S&P 500 Buffer ETF - February	-1.98%	12.99%	17.58%	22.35%	-6.76%	18.05%	10.17%
SCHD Schwab U.S. Dividend Equity ETF	12.79%	4.34%	11.66%	4.54%	-3.26%	29.87%	16.76%

Returns By Period

In the year-to-date period, BFEB achieves a -1.98% return, which is significantly lower than SCHD's 12.79% return.

BFEB

• 1D: 2.08%
• 1M: -3.52%
• YTD: -1.98%
• 6M: 0.96%
• 1Y: 14.86%
• 3Y*: 14.25%
• 5Y*: 10.24%
• 10Y*: —

SCHD

• 1D: 0.66%
• 1M: -2.61%
• YTD: 12.79%
• 6M: 14.49%
• 1Y: 13.97%
• 3Y*: 12.05%
• 5Y*: 8.44%
• 10Y*: 12.31%

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

BFEB vs. SCHD - Expense Ratio Comparison

BFEB has a 0.79% expense ratio, which is higher than SCHD's 0.06% expense ratio.

BFEB

Innovator S&P 500 Buffer ETF - February

SCHD

Schwab U.S. Dividend Equity ETF

Return for Risk

BFEB vs. SCHD — Risk / Return Rank

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

BFEB

BFEB Risk / Return Rank: 70
BFEB Sharpe Ratio Rank: 64
BFEB Sortino Ratio Rank: 69
BFEB Omega Ratio Rank: 73
BFEB Calmar Ratio Rank: 66
BFEB Martin Ratio Rank: 80

SCHD

SCHD Risk / Return Rank: 52
SCHD Sharpe Ratio Rank: 54
SCHD Sortino Ratio Rank: 55
SCHD Omega Ratio Rank: 54
SCHD Calmar Ratio Rank: 53
SCHD Martin Ratio Rank: 45

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.

BFEB vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator S&P 500 Buffer ETF - February (BFEB) and Schwab U.S. Dividend Equity ETF (SCHD). 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.

	BFEB	SCHD	Difference
Sharpe ratio Return per unit of total volatility	1.14	0.89	+0.24
Sortino ratio Return per unit of downside risk	1.74	1.35	+0.39
Omega ratio Gain probability vs. loss probability	1.27	1.19	+0.08
Calmar ratio Return relative to maximum drawdown	1.67	1.19	+0.48
Martin ratio Return relative to average drawdown	8.76	3.99	+4.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BFEB vs. SCHD - Sharpe Ratio Comparison

The current BFEB Sharpe Ratio is 1.14, which is comparable to the SCHD Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of BFEB and SCHD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BFEB	SCHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	0.89	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	0.59	+0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.84	-0.05

Correlation

The correlation between BFEB and SCHD is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BFEB vs. SCHD - Dividend Comparison

BFEB has not paid dividends to shareholders, while SCHD's dividend yield for the trailing twelve months is around 3.44%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BFEB Innovator S&P 500 Buffer ETF - February	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHD Schwab U.S. Dividend Equity ETF	3.44%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%

Drawdowns

BFEB vs. SCHD - Drawdown Comparison

The maximum BFEB drawdown since its inception was -26.37%, smaller than the maximum SCHD drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for BFEB and SCHD.

Drawdown Indicators

	BFEB	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-26.37%	-33.37%	+7.00%
Max Drawdown (1Y) Largest decline over 1 year	-9.20%	-12.74%	+3.54%
Max Drawdown (5Y) Largest decline over 5 years	-14.84%	-16.85%	+2.01%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.37%	—
Current Drawdown Current decline from peak	-4.46%	-2.89%	-1.57%
Average Drawdown Average peak-to-trough decline	-2.75%	-3.34%	+0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.76%	3.89%	-2.13%

Volatility

BFEB vs. SCHD - Volatility Comparison

Innovator S&P 500 Buffer ETF - February (BFEB) has a higher volatility of 3.97% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 2.40%. This indicates that BFEB's price experiences larger fluctuations and is considered to be riskier than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BFEB	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.97%	2.40%	+1.57%
Volatility (6M) Calculated over the trailing 6-month period	6.48%	7.96%	-1.48%
Volatility (1Y) Calculated over the trailing 1-year period	13.15%	15.74%	-2.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.40%	14.40%	-3.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.33%	16.70%	-2.37%