FCEL vs. SCHA

Last updated Jun 4, 2026

FCEL (FuelCell Energy, Inc.) is a stock, while SCHA (Schwab U.S. Small-Cap ETF) is Small Cap Growth Equities fund tracking the Dow Jones U.S. Small-Cap Total Stock Market Total Return Index. Over the past 10 years, FCEL returned -38.80%/yr vs 11.13%/yr for SCHA. At a 0.46 correlation, their price movements are largely independent.

Performance

FCEL vs. SCHA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FuelCell Energy, Inc. (FCEL) and Schwab U.S. Small-Cap ETF (SCHA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCEL achieves a 198.36% return, which is significantly higher than SCHA's 19.79% return. Over the past 10 years, FCEL has underperformed SCHA with an annualized return of -38.80%, while SCHA has yielded a comparatively higher 11.13% annualized return.

FCEL

• 1D: -11.49%
• 1M: 67.51%
• YTD: 198.36%
• 6M: 203.76%
• 1Y: 287.39%
• 3Y*: -31.18%
• 5Y*: -40.79%
• 10Y*: -38.80%

SCHA

• 1D: -0.58%
• 1M: 4.77%
• YTD: 19.79%
• 6M: 19.32%
• 1Y: 40.27%
• 3Y*: 18.92%
• 5Y*: 7.13%
• 10Y*: 11.13%

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

FCEL vs. SCHA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCEL FuelCell Energy, Inc.	198.36%	-19.14%	-81.17%	-42.45%	-46.54%	-53.45%	345.02%	-62.00%	-67.62%	-2.86%
SCHA Schwab U.S. Small-Cap ETF	19.79%	11.60%	11.16%	18.46%	-19.81%	16.45%	19.34%	26.50%	-11.79%	14.94%

Correlation

The correlation between FCEL and SCHA is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Nov 4, 2009	0.46

The correlation between FCEL and SCHA has been stable across timeframes, ranging from 0.46 to 0.55 - a consistent structural relationship.

Return for Risk

FCEL vs. SCHA — Risk / Return Rank

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

FCEL

FCEL Risk / Return Rank: 89
FCEL Sharpe Ratio Rank: 91
FCEL Sortino Ratio Rank: 90
FCEL Omega Ratio Rank: 84
FCEL Calmar Ratio Rank: 93
FCEL Martin Ratio Rank: 86

SCHA

SCHA Risk / Return Rank: 71
SCHA Sharpe Ratio Rank: 66
SCHA Sortino Ratio Rank: 67
SCHA Omega Ratio Rank: 60
SCHA Calmar Ratio Rank: 81
SCHA Martin Ratio Rank: 79

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.

FCEL vs. SCHA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FuelCell Energy, Inc. (FCEL) and Schwab U.S. Small-Cap ETF (SCHA). 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.

	FCEL	SCHA	Difference
Sharpe ratio: Return per unit of total volatility	2.39	2.25	+0.14
Sortino ratio: Return per unit of downside risk	3.20	3.16	+0.04
Omega ratio: Gain probability vs. loss probability	1.35	1.38	-0.02
Calmar ratio: Return relative to maximum drawdown	6.09	4.26	+1.84
Martin ratio: Return relative to average drawdown	9.67	15.66	-5.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCEL vs. SCHA - Sharpe Ratio Comparison

The current FCEL Sharpe Ratio is 2.39, which is comparable to the SCHA Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of FCEL and SCHA, 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

	FCEL	SCHA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	2.25	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.42	0.33	-0.75
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.32	0.49	-0.81
Sharpe Ratio (All Time) Calculated using the full available price history	-0.20	0.57	-0.77

Drawdowns

FCEL vs. SCHA - Drawdown Comparison

The maximum FCEL drawdown since its inception was -100.00%, which is greater than SCHA's maximum drawdown of -42.41%. Use the drawdown chart below to compare losses from any high point for FCEL and SCHA.

Drawdown Indicators

	FCEL	SCHA	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-42.41%	-57.59%
Max Drawdown (1Y) Largest decline over 1 year	-47.52%	-9.50%	-38.02%
Max Drawdown (3Y) Largest decline over 3 years	-95.54%	-27.29%	-68.25%
Max Drawdown (5Y) Largest decline over 5 years	-98.98%	-30.79%	-68.19%
Max Drawdown (10Y) Largest decline over 10 years	-99.88%	-42.41%	-57.47%
Current Drawdown Current decline from peak	-99.99%	-0.58%	-99.41%
Average Drawdown Average peak-to-trough decline	-83.84%	-7.58%	-76.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.87%	2.58%	+27.29%

Volatility

FCEL vs. SCHA - Volatility Comparison

FuelCell Energy, Inc. (FCEL) has a higher volatility of 51.05% compared to Schwab U.S. Small-Cap ETF (SCHA) at 5.08%. This indicates that FCEL's price experiences larger fluctuations and is considered to be riskier than SCHA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCEL	SCHA	Difference
Volatility (1M) Calculated over the trailing 1-month period	51.05%	5.08%	+45.97%
Volatility (6M) Calculated over the trailing 6-month period	88.08%	12.83%	+75.25%
Volatility (1Y) Calculated over the trailing 1-year period	121.73%	18.01%	+103.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.26%	21.93%	+75.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	122.67%	22.71%	+99.96%

Dividends

FCEL vs. SCHA - Dividend Comparison

FCEL has not paid dividends to shareholders, while SCHA's dividend yield for the trailing twelve months is around 1.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCEL FuelCell Energy, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHA Schwab U.S. Small-Cap ETF	1.00%	1.26%	1.51%	1.42%	1.37%	1.19%	1.05%	1.39%	1.58%	1.24%	1.50%	1.48%

Frequently Asked Questions

Can I hold both FCEL and SCHA in my portfolio?

FCEL and SCHA have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCEL or SCHA?

FCEL has higher volatility (51.05%) compared to SCHA (5.08%). In terms of maximum drawdown, FCEL dropped -100.00% vs SCHA's -42.41%.

Which has better risk-adjusted returns?

FCEL currently has the higher Sharpe Ratio (2.39 vs 2.25), 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.