CARR vs. SCHD

Last updated Jul 17, 2026

CARR (Carrier Global Corporation) is a stock, while SCHD (Schwab U.S. Dividend Equity ETF) is Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Over the past 5 years, CARR returned 8.67%/yr vs 9.45%/yr for SCHD. A 0.56 correlation means they provide meaningful diversification when combined.

Performance

CARR vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Carrier Global Corporation (CARR) and Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CARR achieves a 32.26% return, which is significantly higher than SCHD's 22.44% return.

CARR

• 1D: 0.87%
• 1M: -2.54%
• 6M: 25.81%
• YTD: 32.26%
• 1Y: -6.72%
• 3Y*: 9.78%
• 5Y*: 8.67%
• 10Y*: —

SCHD

• 1D: 2.16%
• 1M: 2.38%
• 6M: 15.69%
• YTD: 22.44%
• 1Y: 27.19%
• 3Y*: 14.79%
• 5Y*: 9.45%
• 10Y*: 12.49%

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

CARR vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
CARR Carrier Global Corporation	32.26%	-21.57%	20.26%	41.47%	-22.68%	45.31%	176.86%
SCHD Schwab U.S. Dividend Equity ETF	22.44%	4.34%	11.66%	4.54%	-3.26%	29.87%	47.24%

Correlation

The correlation between CARR and SCHD is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Apr 3, 2020	0.56

Over the past year, the correlation between CARR and SCHD has dropped to 0.35 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.

Return for Risk

CARR vs. SCHD — Risk / Return Rank

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

CARR

CARR Risk / Return Rank: 36
CARR Sharpe Ratio Rank: 37
CARR Sortino Ratio Rank: 33
CARR Omega Ratio Rank: 33
CARR Calmar Ratio Rank: 39
CARR Martin Ratio Rank: 40

SCHD

SCHD Risk / Return Rank: 91
SCHD Sharpe Ratio Rank: 91
SCHD Sortino Ratio Rank: 93
SCHD Omega Ratio Rank: 88
SCHD Calmar Ratio Rank: 95
SCHD Martin Ratio Rank: 87

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.

CARR vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Carrier Global Corporation (CARR) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CARR	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	-0.19	2.47	-2.66
Sortino ratio: Return per unit of downside risk	-0.01	3.83	-3.84
Omega ratio: Gain probability vs. loss probability	1.00	1.44	-0.44
Calmar ratio: Return relative to maximum drawdown	-0.18	5.92	-6.10
Martin ratio: Return relative to average drawdown	-0.28	14.46	-14.74

CARR vs. SCHD - Sharpe Ratio Comparison

The current CARR Sharpe Ratio is -0.19, which is lower than the SCHD Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of CARR and SCHD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CARR vs. SCHD - Drawdown Comparison

The maximum CARR drawdown since its inception was -40.82%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for CARR and SCHD.

Drawdown Indicators

	CARR	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-40.82%	-33.37%	-7.45%
Max Drawdown (1Y) Largest decline over 1 year	-37.38%	-4.61%	-32.77%
Max Drawdown (3Y) Largest decline over 3 years	-37.91%	-16.13%	-21.78%
Max Drawdown (5Y) Largest decline over 5 years	-40.82%	-16.85%	-23.97%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.37%	—
Current Drawdown Current decline from peak	-13.84%	0.00%	-13.84%
Average Drawdown Average peak-to-trough decline	-14.18%	-3.30%	-10.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.33%	1.89%	+22.44%

Volatility

CARR vs. SCHD - Volatility Comparison

Carrier Global Corporation (CARR) has a higher volatility of 9.94% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 4.10%. This indicates that CARR'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

	CARR	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.94%	4.10%	+5.84%
Volatility (6M) Calculated over the trailing 6-month period	28.51%	8.05%	+20.46%
Volatility (1Y) Calculated over the trailing 1-year period	36.31%	11.04%	+25.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.11%	14.40%	+17.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.81%	16.71%	+18.10%

Dividends

CARR vs. SCHD - Dividend Comparison

CARR's dividend yield for the trailing twelve months is around 1.34%, less than SCHD's 3.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CARR Carrier Global Corporation	1.34%	1.70%	1.16%	1.30%	1.54%	0.94%	0.74%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHD Schwab U.S. Dividend Equity ETF	3.17%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%

Frequently Asked Questions

Can I hold both CARR and SCHD in my portfolio?

CARR and SCHD have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CARR or SCHD?

CARR has higher volatility (9.94%) compared to SCHD (4.10%). In terms of maximum drawdown, CARR dropped -40.82% vs SCHD's -33.37%.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.47 vs -0.19), 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.