CEFS vs. SCHD
CEFS (Saba Closed-End Funds ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - CEFS is a Event Driven fund actively managed by Exchange Traded Concepts, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. CEFS is actively managed, while SCHD is passively managed. Over the past 5 years, CEFS returned 14.34%/yr vs 8.77%/yr for SCHD. At a 0.46 correlation, their price movements are largely independent. CEFS charges 2.61%/yr vs 0.06%/yr for SCHD.
Performance
CEFS vs. SCHD - Performance Comparison
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Returns By Period
In the year-to-date period, CEFS achieves a 15.43% return, which is significantly lower than SCHD's 17.24% return.
CEFS
- 1D
- 0.29%
- 1M
- 4.40%
- YTD
- 15.43%
- 6M
- 17.14%
- 1Y
- 27.83%
- 3Y*
- 22.19%
- 5Y*
- 14.34%
- 10Y*
- —
SCHD
- 1D
- 0.09%
- 1M
- -2.86%
- YTD
- 17.24%
- 6M
- 16.44%
- 1Y
- 24.06%
- 3Y*
- 14.45%
- 5Y*
- 8.77%
- 10Y*
- 12.68%
CEFS vs. SCHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEFS Saba Closed-End Funds ETF | 15.43% | 16.67% | 23.48% | 20.99% | -7.08% | 17.86% | 3.40% | 28.41% | -9.97% | 7.92% |
SCHD Schwab U.S. Dividend Equity ETF | 17.24% | 4.34% | 11.66% | 4.54% | -3.26% | 29.87% | 15.03% | 27.29% | -5.56% | 14.18% |
Correlation
The correlation between CEFS and SCHD is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2017 | 0.46 |
Over the past year, the correlation between CEFS and SCHD has dropped to 0.24 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.
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Return for Risk
CEFS vs. SCHD — Risk / Return Rank
CEFS
SCHD
CEFS vs. SCHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saba Closed-End Funds ETF (CEFS) 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.
| CEFS | SCHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.39 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 4.93 | 5.24 | -0.31 |
| Martin ratioReturn relative to average drawdown | 18.94 | 12.71 | +6.23 |
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Drawdowns
CEFS vs. SCHD - Drawdown Comparison
The maximum CEFS drawdown since its inception was -38.99%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for CEFS and SCHD.
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Drawdown Indicators
| CEFS | SCHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.99% | -33.37% | -5.62% |
Max Drawdown (1Y)Largest decline over 1 year | -5.67% | -4.61% | -1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -13.37% | -16.13% | +2.76% |
Max Drawdown (5Y)Largest decline over 5 years | -16.85% | -16.85% | 0.00% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.37% | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.86% | +2.86% |
Average DrawdownAverage peak-to-trough decline | -3.65% | -3.31% | -0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.47% | 1.90% | -0.43% |
Volatility
CEFS vs. SCHD - Volatility Comparison
Saba Closed-End Funds ETF (CEFS) has a higher volatility of 4.03% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 3.58%. This indicates that CEFS'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.
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Volatility by Period
| CEFS | SCHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.03% | 3.58% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 9.00% | 7.74% | +1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.35% | 11.09% | -0.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.16% | 14.36% | -1.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.34% | 16.73% | -1.39% |
CEFS vs. SCHD - Expense Ratio Comparison
CEFS has a 2.61% expense ratio, which is higher than SCHD's 0.06% expense ratio.
Dividends
CEFS vs. SCHD - Dividend Comparison
CEFS's dividend yield for the trailing twelve months is around 6.99%, more than SCHD's 3.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEFS Saba Closed-End Funds ETF | 6.99% | 7.84% | 8.79% | 9.20% | 11.32% | 10.73% | 8.61% | 8.10% | 10.43% | 5.02% | 0.00% | 0.00% |
SCHD Schwab U.S. Dividend Equity ETF | 3.31% | 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
CEFS and SCHD have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CEFS has higher volatility (4.03%) compared to SCHD (3.58%). In terms of maximum drawdown, CEFS dropped -38.99% vs SCHD's -33.37%.
On 5-year performance, CEFS leads with 14.34% vs 8.77% for SCHD. On fees, SCHD is cheaper at 0.06% per year. On volatility, SCHD has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, CEFS has performed better with a 14.34% return vs 8.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHD is cheaper with a 0.06% expense ratio, compared with 2.61% for CEFS.
CEFS has the higher dividend yield at 6.99%, compared with 3.31% for SCHD.
CEFS is categorized as Event Driven, while SCHD is Dividend. They also come from different issuers: Exchange Traded Concepts and Charles Schwab. Their fees differ too: 2.61% for CEFS and 0.06% for SCHD.
CEFS currently has the higher Sharpe Ratio (2.70 vs 2.18), 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.
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