EFZ vs. SCHF
EFZ (ProShares Short MSCI EAFE) and SCHF (Schwab International Equity ETF) are both exchange-traded funds - EFZ is a Inverse Equities fund tracking the MSCI EAFE Index (-100%), while SCHF is a Foreign Large Cap Equities fund tracking the FTSE Developed ex U.S. Index. Both are passively managed. Over the past 10 years, EFZ returned -8.39%/yr vs 10.33%/yr for SCHF. At a correlation of -0.98, they often move in opposite directions. EFZ charges 0.95%/yr vs 0.06%/yr for SCHF.
Performance
EFZ vs. SCHF - Performance Comparison
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Returns By Period
In the year-to-date period, EFZ achieves a -8.10% return, which is significantly lower than SCHF's 15.29% return. Over the past 10 years, EFZ has underperformed SCHF with an annualized return of -8.39%, while SCHF has yielded a comparatively higher 10.33% annualized return.
EFZ
- 1D
- -0.32%
- 1M
- -0.50%
- 6M
- -5.22%
- YTD
- -8.10%
- 1Y
- -14.32%
- 3Y*
- -10.16%
- 5Y*
- -5.80%
- 10Y*
- -8.39%
SCHF
- 1D
- 0.36%
- 1M
- -0.08%
- 6M
- 11.49%
- YTD
- 15.29%
- 1Y
- 29.36%
- 3Y*
- 19.54%
- 5Y*
- 10.13%
- 10Y*
- 10.33%
EFZ vs. SCHF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EFZ ProShares Short MSCI EAFE | -8.10% | -20.92% | 2.90% | -10.38% | 13.15% | -12.75% | -16.02% | -16.56% | 16.26% | -20.18% |
SCHF Schwab International Equity ETF | 15.29% | 34.55% | 3.28% | 18.35% | -14.80% | 11.40% | 9.48% | 22.26% | -14.29% | 26.03% |
Correlation
The correlation between EFZ and SCHF is -0.93, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.98 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2009 | -0.98 |
The correlation between EFZ and SCHF has been stable across timeframes, ranging from -0.98 to -0.93 - a consistent structural relationship.
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Return for Risk
EFZ vs. SCHF — Risk / Return Rank
EFZ
SCHF
EFZ vs. SCHF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short MSCI EAFE (EFZ) and Schwab International Equity ETF (SCHF). 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.
| EFZ | SCHF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.47 | ||
| Sortino ratioReturn per unit of downside risk | -3.37 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.30 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 2.47 | -3.24 |
| Martin ratioReturn relative to average drawdown | -1.27 | 9.35 | -10.63 |
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Drawdowns
EFZ vs. SCHF - Drawdown Comparison
The maximum EFZ drawdown since its inception was -88.15%, which is greater than SCHF's maximum drawdown of -34.87%. Use the drawdown chart below to compare losses from any high point for EFZ and SCHF.
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Drawdown Indicators
| EFZ | SCHF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.15% | -34.87% | -53.28% |
Max Drawdown (1Y)Largest decline over 1 year | -17.60% | -11.48% | -6.12% |
Max Drawdown (3Y)Largest decline over 3 years | -35.82% | -13.41% | -22.41% |
Max Drawdown (5Y)Largest decline over 5 years | -44.12% | -29.14% | -14.98% |
Max Drawdown (10Y)Largest decline over 10 years | -61.58% | -34.87% | -26.71% |
Current DrawdownCurrent decline from peak | -87.97% | -2.03% | -85.94% |
Average DrawdownAverage peak-to-trough decline | -67.18% | -7.35% | -59.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.67% | 3.03% | +7.64% |
Volatility
EFZ vs. SCHF - Volatility Comparison
The current volatility for ProShares Short MSCI EAFE (EFZ) is 5.21%, while Schwab International Equity ETF (SCHF) has a volatility of 6.40%. This indicates that EFZ experiences smaller price fluctuations and is considered to be less risky than SCHF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EFZ | SCHF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.21% | 6.40% | -1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 14.25% | 15.02% | -0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.88% | 17.05% | -0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.83% | 16.62% | +0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.10% | 17.00% | +0.10% |
EFZ vs. SCHF - Expense Ratio Comparison
EFZ has a 0.95% expense ratio, which is higher than SCHF's 0.06% expense ratio.
Dividends
EFZ vs. SCHF - Dividend Comparison
EFZ's dividend yield for the trailing twelve months is around 3.98%, more than SCHF's 3.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EFZ ProShares Short MSCI EAFE | 3.98% | 4.55% | 5.29% | 4.66% | 0.57% | 0.00% | 0.04% | 1.56% | 0.34% | 0.00% | 0.00% | 0.00% |
SCHF Schwab International Equity ETF | 3.06% | 3.42% | 3.26% | 2.97% | 2.80% | 3.19% | 2.08% | 2.95% | 3.06% | 2.35% | 2.58% | 2.26% |
Frequently Asked Questions
EFZ and SCHF have a correlation of -0.93, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHF has higher volatility (6.40%) compared to EFZ (5.21%). In terms of maximum drawdown, EFZ dropped -88.15% vs SCHF's -34.87%.
On 10-year performance, SCHF leads with 10.33% vs -8.39% for EFZ. On fees, SCHF is cheaper at 0.06% per year. On volatility, EFZ has been the lower-risk option at 5.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHF has performed better with a 10.33% return vs -8.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHF is cheaper with a 0.06% expense ratio, compared with 0.95% for EFZ.
EFZ has the higher dividend yield at 3.98%, compared with 3.06% for SCHF.
EFZ is categorized as Inverse Equities, while SCHF is Foreign Large Cap Equities. EFZ tracks MSCI EAFE Index (-100%), while SCHF tracks FTSE Developed ex U.S. Index. They also come from different issuers: ProShares and Charles Schwab. Their fees differ too: 0.95% for EFZ and 0.06% for SCHF.
SCHF currently has the higher Sharpe Ratio (1.66 vs -0.81), 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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