CM vs. SCHD
CM (Canadian Imperial Bank of Commerce) 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, CM returned 18.55%/yr vs 12.76%/yr for SCHD. Their 0.55 correlation means they have sometimes moved together and sometimes differently.
Performance
CM vs. SCHD - Performance Comparison
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Returns By Period
In the year-to-date period, CM achieves a 32.80% return, which is significantly higher than SCHD's 24.03% return. Over the past 10 years, CM has outperformed SCHD with an annualized return of 18.55%, while SCHD has yielded a comparatively lower 12.76% annualized return.
CM
- 1D
- 0.24%
- 1M
- 4.08%
- 6M
- 30.24%
- YTD
- 32.80%
- 1Y
- 70.53%
- 3Y*
- 46.73%
- 5Y*
- 21.43%
- 10Y*
- 18.55%
- ALL TIME*
- 13.80%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $112.13M | $139.31M | $149.20M | |
| $786.88M | $715.86M | $685.58M |
CM vs. SCHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CM Canadian Imperial Bank of Commerce | 32.80% | 49.02% | 37.83% | 27.23% | -25.71% | 42.29% | 9.25% | 19.22% | -19.75% | 26.58% |
SCHD Schwab U.S. Dividend Equity ETF | 24.03% | 4.34% | 11.66% | 4.54% | -3.26% | 29.87% | 15.03% | 27.29% | -5.56% | 20.85% |
Correlation
The correlation between CM and SCHD is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.39 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.52 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.55 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011 | 0.55 |
Over the past year, the correlation between CM and SCHD has dropped to 0.24 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.
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Return for Risk
CM vs. SCHD — Risk / Return Rank
CM
SCHD
CM vs. SCHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Imperial Bank of Commerce (CM) 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.
| CM | SCHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.51 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 6.65 | 6.74 | -0.09 |
| Martin ratioReturn relative to average drawdown | 26.12 | 17.01 | +9.11 |
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Drawdowns
CM vs. SCHD - Drawdown Comparison
The maximum CM drawdown since its inception was -71.70%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for CM and SCHD.
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Drawdown Indicators
| CM | SCHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.70% | -33.37% | -38.33% |
Max Drawdown (1Y)Largest decline over 1 year | -10.79% | -4.61% | -6.18% |
Max Drawdown (3Y)Largest decline over 3 years | -17.35% | -16.13% | -1.22% |
Max Drawdown (5Y)Largest decline over 5 years | -40.61% | -16.85% | -23.76% |
Max Drawdown (10Y)Largest decline over 10 years | -47.82% | -33.37% | -14.45% |
Current DrawdownCurrent decline from peak | -2.22% | -1.24% | -0.98% |
Average DrawdownAverage peak-to-trough decline | -14.59% | -3.30% | -11.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.74% | 1.82% | +0.92% |
Volatility
CM vs. SCHD - Volatility Comparison
Canadian Imperial Bank of Commerce (CM) has a higher volatility of 6.74% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 4.11%. This indicates that CM'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
| CM | SCHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.74% | 4.11% | +2.63% |
Volatility (6M)Calculated over the trailing 6-month period | 16.61% | 8.11% | +8.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.84% | 11.13% | +8.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.50% | 14.39% | +7.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.64% | 16.72% | +5.92% |
Dividends
CM vs. SCHD - Dividend Comparison
CM's dividend yield for the trailing twelve months is around 2.54%, less than SCHD's 3.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CM Canadian Imperial Bank of Commerce | 2.54% | 3.17% | 4.21% | 5.88% | 7.77% | 4.08% | 5.06% | 6.47% | 5.48% | 5.28% | 5.93% | 6.71% |
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
CM 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.
CM has higher volatility (6.74%) compared to SCHD (4.11%). In terms of maximum drawdown, CM dropped -71.70% vs SCHD's -33.37%.
CM currently has the higher Sharpe Ratio (3.62 vs 2.81), 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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