CIEN vs. SCHD

Last updated Jun 24, 2026

CIEN (Ciena 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 10 years, CIEN returned 37.45%/yr vs 12.72%/yr for SCHD. At a 0.42 correlation, their price movements are largely independent.

Performance

CIEN vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ciena Corporation (CIEN) 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, CIEN achieves a 96.63% return, which is significantly higher than SCHD's 17.72% return. Over the past 10 years, CIEN has outperformed SCHD with an annualized return of 37.45%, while SCHD has yielded a comparatively lower 12.72% annualized return.

CIEN

• 1D: -0.10%
• 1M: -21.22%
• YTD: 96.63%
• 6M: 91.37%
• 1Y: 509.56%
• 3Y*: 123.81%
• 5Y*: 51.48%
• 10Y*: 37.45%

SCHD

• 1D: 0.41%
• 1M: -2.47%
• YTD: 17.72%
• 6M: 17.25%
• 1Y: 24.56%
• 3Y*: 14.60%
• 5Y*: 8.71%
• 10Y*: 12.72%

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

CIEN vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CIEN Ciena Corporation	96.63%	175.76%	88.42%	-11.71%	-33.77%	45.64%	23.80%	25.89%	62.02%	-14.26%
SCHD Schwab U.S. Dividend Equity ETF	17.72%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between CIEN and SCHD is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.42

Over the past year, the correlation between CIEN and SCHD has dropped to 0.08 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.

Return for Risk

CIEN vs. SCHD — Risk / Return Rank

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

CIEN

CIEN Risk / Return Rank: 99
CIEN Sharpe Ratio Rank: 100
CIEN Sortino Ratio Rank: 97
CIEN Omega Ratio Rank: 98
CIEN Calmar Ratio Rank: 99
CIEN Martin Ratio Rank: 99

SCHD

SCHD Risk / Return Rank: 77
SCHD Sharpe Ratio Rank: 72
SCHD Sortino Ratio Rank: 80
SCHD Omega Ratio Rank: 70
SCHD Calmar Ratio Rank: 90
SCHD Martin Ratio Rank: 71

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.

CIEN vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ciena Corporation (CIEN) 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.

	CIEN	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	7.61	2.23	+5.38
Sortino ratio: Return per unit of downside risk	4.86	3.40	+1.46
Omega ratio: Gain probability vs. loss probability	1.71	1.40	+0.32
Calmar ratio: Return relative to maximum drawdown	16.21	5.35	+10.86
Martin ratio: Return relative to average drawdown	64.37	12.94	+51.43

CIEN vs. SCHD - Sharpe Ratio Comparison

The current CIEN Sharpe Ratio is 7.61, which is higher than the SCHD Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of CIEN 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

CIEN vs. SCHD - Drawdown Comparison

The maximum CIEN drawdown since its inception was -99.51%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for CIEN and SCHD.

Drawdown Indicators

	CIEN	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-99.51%	-33.37%	-66.14%
Max Drawdown (1Y) Largest decline over 1 year	-31.70%	-4.61%	-27.09%
Max Drawdown (3Y) Largest decline over 3 years	-45.51%	-16.13%	-29.38%
Max Drawdown (5Y) Largest decline over 5 years	-49.54%	-16.85%	-32.69%
Max Drawdown (10Y) Largest decline over 10 years	-49.54%	-33.37%	-16.17%
Current Drawdown Current decline from peak	-56.06%	-2.47%	-53.59%
Average Drawdown Average peak-to-trough decline	-87.06%	-3.31%	-83.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.97%	1.90%	+6.07%

Volatility

CIEN vs. SCHD - Volatility Comparison

Ciena Corporation (CIEN) has a higher volatility of 24.91% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 3.58%. This indicates that CIEN'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

	CIEN	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.91%	3.58%	+21.33%
Volatility (6M) Calculated over the trailing 6-month period	55.24%	7.73%	+47.51%
Volatility (1Y) Calculated over the trailing 1-year period	67.55%	11.07%	+56.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.83%	14.36%	+34.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.45%	16.71%	+27.74%

Dividends

CIEN vs. SCHD - Dividend Comparison

CIEN has not paid dividends to shareholders, while SCHD's dividend yield for the trailing twelve months is around 3.30%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIEN Ciena Corporation	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	3.30%	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 CIEN and SCHD in my portfolio?

CIEN and SCHD have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CIEN or SCHD?

CIEN has higher volatility (24.91%) compared to SCHD (3.58%). In terms of maximum drawdown, CIEN dropped -99.51% vs SCHD's -33.37%.

Which has better risk-adjusted returns?

CIEN currently has the higher Sharpe Ratio (7.61 vs 2.23), 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.