CSB vs. SCHD

Last updated Jun 23, 2026

CSB (VictoryShares US Small Cap High Dividend Volatility Wtd ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - CSB is a Small Cap Blend Equities fund tracking the Nasdaq Victory U.S. Small Cap High Dividend 100 Volatility Weighted Index, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 10 years, CSB returned 10.04%/yr vs 12.68%/yr for SCHD. A 0.75 correlation means they provide meaningful diversification when combined. CSB charges 0.35%/yr vs 0.06%/yr for SCHD.

Performance

CSB vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) 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, CSB achieves a 10.17% return, which is significantly lower than SCHD's 17.24% return. Over the past 10 years, CSB has underperformed SCHD with an annualized return of 10.04%, while SCHD has yielded a comparatively higher 12.68% annualized return.

CSB

• 1D: -0.13%
• 1M: -0.25%
• YTD: 10.17%
• 6M: 8.40%
• 1Y: 20.98%
• 3Y*: 12.53%
• 5Y*: 4.75%
• 10Y*: 10.04%

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%

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

CSB vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF	10.17%	2.26%	9.64%	12.60%	-13.11%	27.04%	11.30%	21.12%	-7.10%	11.32%
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%	20.85%

Correlation

The correlation between CSB and SCHD is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jul 8, 2015	0.75

The correlation between CSB and SCHD has been stable across timeframes, ranging from 0.75 to 0.83 - a consistent structural relationship.

CSB vs. SCHD - Sectors Allocation Comparison

Sectors	CSB	SCHD
Financial Services	26.9%	9.1%
Utilities	21.7%	0.0%
Consumer Cyclical	19.5%	6.7%
Energy	10.6%	14.6%
Industrials	8.5%	7.4%
Communication Services	4.0%	6.0%
Consumer Defensive	4.0%	18.5%
Basic Materials	3.6%	1.2%
Technology	1.3%	19.4%
Healthcare	0.4%	18.4%
Real Estate	-	-

Return for Risk

CSB vs. SCHD — Risk / Return Rank

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

CSB

CSB Risk / Return Rank: 48
CSB Sharpe Ratio Rank: 43
CSB Sortino Ratio Rank: 45
CSB Omega Ratio Rank: 41
CSB Calmar Ratio Rank: 61
CSB Martin Ratio Rank: 51

SCHD

SCHD Risk / Return Rank: 76
SCHD Sharpe Ratio Rank: 70
SCHD Sortino Ratio Rank: 79
SCHD Omega Ratio Rank: 68
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.

CSB vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) 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.

	CSB	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	1.46	2.18	-0.72
Sortino ratio: Return per unit of downside risk	2.21	3.34	-1.13
Omega ratio: Gain probability vs. loss probability	1.26	1.39	-0.13
Calmar ratio: Return relative to maximum drawdown	2.94	5.24	-2.30
Martin ratio: Return relative to average drawdown	8.48	12.71	-4.23

CSB vs. SCHD - Sharpe Ratio Comparison

The current CSB Sharpe Ratio is 1.46, which is lower than the SCHD Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of CSB 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

CSB vs. SCHD - Drawdown Comparison

The maximum CSB drawdown since its inception was -42.07%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for CSB and SCHD.

Drawdown Indicators

	CSB	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-42.07%	-33.37%	-8.70%
Max Drawdown (1Y) Largest decline over 1 year	-7.18%	-4.61%	-2.57%
Max Drawdown (3Y) Largest decline over 3 years	-21.82%	-16.13%	-5.69%
Max Drawdown (5Y) Largest decline over 5 years	-24.49%	-16.85%	-7.64%
Max Drawdown (10Y) Largest decline over 10 years	-42.07%	-33.37%	-8.70%
Current Drawdown Current decline from peak	-1.75%	-2.86%	+1.11%
Average Drawdown Average peak-to-trough decline	-7.11%	-3.31%	-3.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	1.90%	+0.58%

Volatility

CSB vs. SCHD - Volatility Comparison

VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) and Schwab U.S. Dividend Equity ETF (SCHD) have volatilities of 3.67% and 3.58%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSB	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.67%	3.58%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	9.23%	7.74%	+1.49%
Volatility (1Y) Calculated over the trailing 1-year period	14.48%	11.09%	+3.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.70%	14.36%	+4.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.31%	16.73%	+4.58%

CSB vs. SCHD - Expense Ratio Comparison

CSB has a 0.35% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

CSB vs. SCHD - Dividend Comparison

CSB's dividend yield for the trailing twelve months is around 3.25%, less than SCHD's 3.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF	3.25%	3.54%	3.12%	3.45%	3.60%	3.11%	3.70%	3.19%	3.45%	3.19%	2.85%	1.57%
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

Can I hold both CSB and SCHD in my portfolio?

CSB and SCHD have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CSB or SCHD?

CSB has higher volatility (3.67%) compared to SCHD (3.58%). In terms of maximum drawdown, CSB dropped -42.07% vs SCHD's -33.37%.

Which ETF is better, CSB or SCHD?

On 10-year performance, SCHD leads with 12.68% vs 10.04% for CSB. On fees, SCHD is cheaper at 0.06% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSB or SCHD?

Over the 10-year period, SCHD has performed better with a 12.68% return vs 10.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CSB or SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.35% for CSB.

Which ETF pays a higher dividend yield, CSB or SCHD?

SCHD has the higher dividend yield at 3.31%, compared with 3.25% for CSB.

What is the main difference between CSB and SCHD?

CSB is categorized as Small Cap Blend Equities, while SCHD is Dividend. CSB tracks Nasdaq Victory U.S. Small Cap High Dividend 100 Volatility Weighted Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: Crestview and Charles Schwab. Their fees differ too: 0.35% for CSB and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.18 vs 1.46), 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.