CION vs. SCHD

Last updated Aug 1, 2026

CION (CION Investment 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 3 years, CION returned -5.24%/yr vs 14.19%/yr for SCHD. Their 0.45 correlation means their historical movements had little consistent relationship.

Performance

CION vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CION Investment Corporation (CION) 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, CION achieves a -32.19% return, which is significantly lower than SCHD's 24.03% return.

CION

• 1D: 0.85%
• 1M: -5.27%
• 6M: -30.22%
• YTD: -32.19%
• 1Y: -26.89%
• 3Y*: -5.24%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -1.87%

SCHD

• 1D: 0.18%
• 1M: 3.33%
• 6M: 14.09%
• YTD: 24.03%
• 1Y: 31.54%
• 3Y*: 14.19%
• 5Y*: 9.54%
• 10Y*: 12.76%
• ALL TIME*: 13.39%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CION CION Investment Corporation	$2.67M	$3.09M	$3.71M
SCHD Schwab U.S. Dividend Equity ETF	$786.88M	$715.86M	$685.58M

CION vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CION CION Investment Corporation	-32.19%	-2.26%	14.82%	35.42%	-14.80%	3.97%
SCHD Schwab U.S. Dividend Equity ETF	24.03%	4.34%	11.66%	4.54%	-3.26%	8.73%

Correlation

The correlation between CION and SCHD is 0.35, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.35
Correlation (3Y) Balances recent behavior with more history.	0.44
Correlation (All Time) Calculated using the full available price history since Oct 5, 2021	0.45

Return for Risk

CION vs. SCHD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CION

CION Risk / Return Rank: 10
CION Sharpe Ratio Rank: 6
CION Sortino Ratio Rank: 9
CION Omega Ratio Rank: 10
CION Calmar Ratio Rank: 15
CION Martin Ratio Rank: 9

SCHD

SCHD Risk / Return Rank: 95
SCHD Sharpe Ratio Rank: 96
SCHD Sortino Ratio Rank: 96
SCHD Omega Ratio Rank: 94
SCHD Calmar Ratio Rank: 96
SCHD Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CION vs. SCHD - Risk-Adjusted Trends Comparison

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

	CION	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	-0.93	2.81	-3.74
Sortino ratio: Return per unit of downside risk	-1.22	4.37	-5.59
Omega ratio: Gain probability vs. loss probability	0.85	1.51	-0.66
Calmar ratio: Return relative to maximum drawdown	-0.75	6.74	-7.49
Martin ratio: Return relative to average drawdown	-1.38	17.01	-18.39

CION vs. SCHD - Sharpe Ratio Comparison

The current CION Sharpe Ratio is -0.93, which is lower than the SCHD Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of CION 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

CION vs. SCHD - Drawdown Comparison

The maximum CION drawdown since its inception was -45.39%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for CION and SCHD.

Drawdown Indicators

	CION	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-45.39%	-33.37%	-12.02%
Max Drawdown (1Y) Largest decline over 1 year	-36.25%	-4.61%	-31.64%
Max Drawdown (3Y) Largest decline over 3 years	-40.30%	-16.13%	-24.17%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.37%	—
Current Drawdown Current decline from peak	-39.80%	-1.24%	-38.56%
Average Drawdown Average peak-to-trough decline	-15.79%	-3.30%	-12.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.80%	1.82%	+17.98%

Volatility

CION vs. SCHD - Volatility Comparison

CION Investment Corporation (CION) has a higher volatility of 8.29% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 4.11%. This indicates that CION'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

	CION	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.29%	4.11%	+4.18%
Volatility (6M) Calculated over the trailing 6-month period	24.62%	8.11%	+16.51%
Volatility (1Y) Calculated over the trailing 1-year period	29.38%	11.13%	+18.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.80%	14.39%	+15.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.80%	16.72%	+13.08%

Dividends

CION vs. SCHD - Dividend Comparison

CION's dividend yield for the trailing twelve months is around 23.83%, more than SCHD's 3.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CION CION Investment Corporation	23.83%	14.89%	13.33%	14.24%	14.87%	3.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHD Schwab U.S. Dividend Equity ETF	3.13%	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 CION and SCHD in my portfolio?

CION 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, CION or SCHD?

CION has higher volatility (8.29%) compared to SCHD (4.11%). In terms of maximum drawdown, CION dropped -45.39% vs SCHD's -33.37%.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.81 vs -0.93), 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.