EWW vs. SCHD

Last updated Jun 4, 2026

EWW (iShares MSCI Mexico ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - EWW is a Latin America Equities fund tracking the MSCI Mexico IMI 25/50 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, EWW returned 7.35%/yr vs 12.77%/yr for SCHD. A 0.54 correlation means they provide meaningful diversification when combined. EWW charges 0.49%/yr vs 0.06%/yr for SCHD.

Performance

EWW vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Mexico ETF (EWW) 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, EWW achieves a 12.62% return, which is significantly lower than SCHD's 19.01% return. Over the past 10 years, EWW has underperformed SCHD with an annualized return of 7.35%, while SCHD has yielded a comparatively higher 12.77% annualized return.

EWW

• 1D: -1.26%
• 1M: 3.21%
• YTD: 12.62%
• 6M: 16.29%
• 1Y: 34.15%
• 3Y*: 12.42%
• 5Y*: 13.49%
• 10Y*: 7.35%

SCHD

• 1D: 0.00%
• 1M: 2.70%
• YTD: 19.01%
• 6M: 18.63%
• 1Y: 27.16%
• 3Y*: 15.09%
• 5Y*: 8.36%
• 10Y*: 12.77%

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

EWW vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EWW iShares MSCI Mexico ETF	12.62%	53.65%	-28.22%	40.32%	1.24%	20.27%	-3.06%	12.64%	-14.58%	14.47%
SCHD Schwab U.S. Dividend Equity ETF	19.01%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between EWW and SCHD is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Oct 21, 2011	0.54

Over the past year, the correlation between EWW and SCHD has dropped to 0.25 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

EWW vs. SCHD - Sectors Allocation Comparison

Sectors	EWW	SCHD
Consumer Defensive	24.9%	19.2%
Basic Materials	23.7%	1.2%
Financial Services	18.1%	9.3%
Industrials	13.1%	7.5%
Communication Services	10.4%	6.3%
Real Estate	7.7%	-
Consumer Cyclical	1.4%	6.3%
Healthcare	0.5%	18.8%
Energy	-	16.2%
Technology	-	16.4%
Utilities	-	0.0%

Return for Risk

EWW vs. SCHD — Risk / Return Rank

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

EWW

EWW Risk / Return Rank: 47
EWW Sharpe Ratio Rank: 46
EWW Sortino Ratio Rank: 45
EWW Omega Ratio Rank: 44
EWW Calmar Ratio Rank: 49
EWW Martin Ratio Rank: 52

SCHD

SCHD Risk / Return Rank: 80
SCHD Sharpe Ratio Rank: 75
SCHD Sortino Ratio Rank: 84
SCHD Omega Ratio Rank: 73
SCHD Calmar Ratio Rank: 91
SCHD Martin Ratio Rank: 75

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.

EWW vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Mexico ETF (EWW) 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.

	EWW	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	1.62	2.49	-0.87
Sortino ratio: Return per unit of downside risk	2.27	3.87	-1.59
Omega ratio: Gain probability vs. loss probability	1.29	1.45	-0.16
Calmar ratio: Return relative to maximum drawdown	2.45	5.91	-3.46
Martin ratio: Return relative to average drawdown	9.08	14.53	-5.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EWW vs. SCHD - Sharpe Ratio Comparison

The current EWW Sharpe Ratio is 1.62, which is lower than the SCHD Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of EWW 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.

Sharpe Ratios by Period

	EWW	SCHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	2.49	-0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.58	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	0.77	-0.48
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.86	-0.56

Drawdowns

EWW vs. SCHD - Drawdown Comparison

The maximum EWW drawdown since its inception was -64.94%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for EWW and SCHD.

Drawdown Indicators

	EWW	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-64.94%	-33.37%	-31.57%
Max Drawdown (1Y) Largest decline over 1 year	-13.98%	-4.61%	-9.37%
Max Drawdown (3Y) Largest decline over 3 years	-31.17%	-16.13%	-15.04%
Max Drawdown (5Y) Largest decline over 5 years	-31.17%	-16.85%	-14.32%
Max Drawdown (10Y) Largest decline over 10 years	-53.62%	-33.37%	-20.25%
Current Drawdown Current decline from peak	-3.88%	-1.40%	-2.48%
Average Drawdown Average peak-to-trough decline	-18.52%	-3.32%	-15.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.77%	1.88%	+1.89%

Volatility

EWW vs. SCHD - Volatility Comparison

iShares MSCI Mexico ETF (EWW) has a higher volatility of 5.79% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 2.66%. This indicates that EWW'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

	EWW	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.79%	2.66%	+3.13%
Volatility (6M) Calculated over the trailing 6-month period	17.75%	7.66%	+10.09%
Volatility (1Y) Calculated over the trailing 1-year period	21.15%	10.96%	+10.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.51%	14.38%	+8.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.39%	16.72%	+8.67%

EWW vs. SCHD - Expense Ratio Comparison

EWW has a 0.49% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

EWW vs. SCHD - Dividend Comparison

EWW's dividend yield for the trailing twelve months is around 3.09%, less than SCHD's 3.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWW iShares MSCI Mexico ETF	3.09%	3.48%	4.39%	2.19%	3.64%	2.06%	1.43%	2.92%	2.30%	2.22%	1.77%	2.34%
SCHD Schwab U.S. Dividend Equity ETF	3.26%	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 EWW and SCHD in my portfolio?

EWW and SCHD have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EWW or SCHD?

EWW has higher volatility (5.79%) compared to SCHD (2.66%). In terms of maximum drawdown, EWW dropped -64.94% vs SCHD's -33.37%.

Which ETF is better, EWW or SCHD?

On 10-year performance, SCHD leads with 12.77% vs 7.35% for EWW. On fees, SCHD is cheaper at 0.06% per year. On volatility, SCHD has been the lower-risk option at 2.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWW or SCHD?

Over the 10-year period, SCHD has performed better with a 12.77% return vs 7.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWW or SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.49% for EWW.

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

SCHD has the higher dividend yield at 3.26%, compared with 3.09% for EWW.

What is the main difference between EWW and SCHD?

EWW is categorized as Latin America Equities, while SCHD is Dividend. EWW tracks MSCI Mexico IMI 25/50 Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.49% for EWW and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.49 vs 1.62), 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.