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FDM vs. SCHA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FDM vs. SCHA

Last updated Jun 5, 2026

FDM (First Trust Dow Jones Select MicroCap Index Fund) and SCHA (Schwab U.S. Small-Cap ETF) are both Small Cap Blend Equities funds - FDM tracks the Dow Jones Select Microcap Index while SCHA tracks the Dow Jones U.S. Small-Cap Total Stock Market Index. Both are passively managed. Over the past 10 years, FDM returned 11.53%/yr vs 11.12%/yr for SCHA. Their correlation of 0.90 suggests significant overlap in exposure. FDM charges 0.60%/yr vs 0.04%/yr for SCHA.

Performance

FDM vs. SCHA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dow Jones Select MicroCap Index Fund (FDM) and Schwab U.S. Small-Cap ETF (SCHA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FDM achieves a 9.96% return, which is significantly lower than SCHA's 20.80% return. Both investments have delivered pretty close results over the past 10 years, with FDM having a 11.53% annualized return and SCHA not far behind at 11.12%.

FDM

1D
2.31%
1M
-1.63%
YTD
9.96%
6M
10.53%
1Y
31.05%
3Y*
19.54%
5Y*
8.86%
10Y*
11.53%

SCHA

1D
0.85%
1M
3.65%
YTD
20.80%
6M
19.63%
1Y
41.92%
3Y*
19.74%
5Y*
7.31%
10Y*
11.12%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FDM vs. SCHA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FDM
First Trust Dow Jones Select MicroCap Index Fund		9.96%18.64%13.00%12.76%-11.61%35.08%-4.04%27.45%-13.53%8.72%
SCHA
Schwab U.S. Small-Cap ETF		20.80%11.60%11.16%18.46%-19.81%16.45%19.34%26.50%-11.79%14.94%

Correlation

The correlation between FDM and SCHA is 0.80, 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

0.80

Correlation (3Y)
Calculated over the trailing 3-year period

0.87

Correlation (5Y)
Calculated over the trailing 5-year period

0.90

Correlation (10Y)
Calculated over the trailing 10-year period

0.89

Correlation (All Time)
Calculated using the full available price history since Nov 4, 2009

0.90

The correlation between FDM and SCHA shifts across timeframes, from 0.80 (1 year) to 0.90 (all time), reflecting how their relationship changes across market environments.

FDM vs. SCHA - Sectors Allocation Comparison

Sectors
FDM
SCHA

Financial Services

41.2%
15.7%

Industrials

16.4%
15.4%

Consumer Cyclical

10.0%
9.0%

Technology

6.2%
23.3%

Healthcare

6.2%
13.5%

Energy

5.0%
5.5%

Consumer Defensive

4.7%
2.6%

Basic Materials

4.2%
4.2%

Communication Services

3.7%
2.4%

Real Estate

1.4%
6.0%

Utilities

1.0%
2.3%

Financial Services

FDM
41.2%
SCHA
15.7%

Industrials

FDM
16.4%
SCHA
15.4%

Consumer Cyclical

FDM
10.0%
SCHA
9.0%

Technology

FDM
6.2%
SCHA
23.3%

Healthcare

FDM
6.2%
SCHA
13.5%

Energy

FDM
5.0%
SCHA
5.5%

Consumer Defensive

FDM
4.7%
SCHA
2.6%

Basic Materials

FDM
4.2%
SCHA
4.2%

Communication Services

FDM
3.7%
SCHA
2.4%

Real Estate

FDM
1.4%
SCHA
6.0%

Utilities

FDM
1.0%
SCHA
2.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust Dow Jones Select MicroCap Index Fund

Schwab U.S. Small-Cap ETF

Often compared with FDM:
FDM vs. IWCFDM vs. PVIVXFDM vs. DFSCXFDM vs. JMCRXFDM vs. VBFDM vs. SPYFDM vs. VOO
Often compared with SCHA:
SCHA vs. VBSCHA vs. SWSSXSCHA vs. AVUVSCHA vs. IJRSCHA vs. SCHDSCHA vs. SCHBSCHA vs. SCHM

Return for Risk

FDM vs. SCHA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FDM
FDM Risk / Return Rank: 5454
Overall Rank
FDM Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
FDM Sortino Ratio Rank: 5050
Sortino Ratio Rank
FDM Omega Ratio Rank: 4646
Omega Ratio Rank
FDM Calmar Ratio Rank: 6868
Calmar Ratio Rank
FDM Martin Ratio Rank: 5858
Martin Ratio Rank
SCHA
SCHA Risk / Return Rank: 7676
Overall Rank
SCHA Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
SCHA Sortino Ratio Rank: 7373
Sortino Ratio Rank
SCHA Omega Ratio Rank: 6666
Omega Ratio Rank
SCHA Calmar Ratio Rank: 8383
Calmar Ratio Rank
SCHA Martin Ratio Rank: 8282
Martin Ratio Rank
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.

FDM vs. SCHA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dow Jones Select MicroCap Index Fund (FDM) 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.

FDMSCHADifference
Sharpe ratioReturn per unit of total volatility
1.64
2.35

-0.70

Sortino ratioReturn per unit of downside risk
2.40
3.27

-0.87

Omega ratioGain probability vs. loss probability

1.29

1.39

-0.10

Calmar ratioReturn relative to maximum drawdown

3.35

4.43

-1.08

Martin ratioReturn relative to average drawdown

10.16

16.30

-6.14

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDM vs. SCHA - Sharpe Ratio Comparison

The current FDM Sharpe Ratio is 1.64, which is comparable to the SCHA Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of FDM 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.

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Sharpe Ratios by Period

FDMSCHADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.64

2.35

-0.70

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.42

0.33

+0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.50

0.49

0.00

Sharpe Ratio (All Time)

Calculated using the full available price history

0.35

0.58

-0.23

Drawdowns

FDM vs. SCHA - Drawdown Comparison

The maximum FDM drawdown since its inception was -63.45%, which is greater than SCHA's maximum drawdown of -42.41%. Use the drawdown chart below to compare losses from any high point for FDM and SCHA.

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Drawdown Indicators

FDMSCHADifference

Max Drawdown

Largest peak-to-trough decline

-63.45%

-42.41%

-21.04%

Max Drawdown (1Y)

Largest decline over 1 year

-9.30%

-9.50%

+0.20%

Max Drawdown (3Y)

Largest decline over 3 years

-23.47%

-27.29%

+3.82%

Max Drawdown (5Y)

Largest decline over 5 years

-23.74%

-30.79%

+7.05%

Max Drawdown (10Y)

Largest decline over 10 years

-47.76%

-42.41%

-5.35%

Current Drawdown

Current decline from peak

-2.10%

0.00%

-2.10%

Average Drawdown

Average peak-to-trough decline

-11.35%

-7.58%

-3.77%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.06%

2.58%

+0.48%

Volatility

FDM vs. SCHA - Volatility Comparison

First Trust Dow Jones Select MicroCap Index Fund (FDM) and Schwab U.S. Small-Cap ETF (SCHA) have volatilities of 5.00% and 4.81%, 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.

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Volatility by Period

FDMSCHADifference

Volatility (1M)

Calculated over the trailing 1-month period

5.00%

4.81%

+0.19%

Volatility (6M)

Calculated over the trailing 6-month period

13.41%

12.84%

+0.57%

Volatility (1Y)

Calculated over the trailing 1-year period

18.98%

17.96%

+1.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.41%

21.94%

-0.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.36%

22.71%

+0.65%

FDM vs. SCHA - Expense Ratio Comparison

FDM has a 0.60% expense ratio, which is higher than SCHA's 0.04% expense ratio.

Dividends

FDM vs. SCHA - Dividend Comparison

FDM's dividend yield for the trailing twelve months is around 1.25%, more than SCHA's 0.99% yield.

PositionTTM20252024202320222021202020192018201720162015
FDM
First Trust Dow Jones Select MicroCap Index Fund		1.25%1.43%1.56%1.81%1.80%1.08%1.68%1.37%1.26%0.97%1.13%1.45%
SCHA
Schwab U.S. Small-Cap ETF		0.99%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

FDM and SCHA have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FDM has higher volatility (5.00%) compared to SCHA (4.81%). In terms of maximum drawdown, FDM dropped -63.45% vs SCHA's -42.41%.

On 10-year performance, FDM leads with 11.53% vs 11.12% for SCHA. On fees, SCHA is cheaper at 0.04% per year. On volatility, SCHA has been the lower-risk option at 4.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, FDM has performed better with a 11.53% return vs 11.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SCHA is cheaper with a 0.04% expense ratio, compared with 0.60% for FDM.

FDM has the higher dividend yield at 1.25%, compared with 0.99% for SCHA.

FDM tracks Dow Jones Select Microcap Index, while SCHA tracks Dow Jones U.S. Small-Cap Total Stock Market Index. They also come from different issuers: First Trust and Charles Schwab. Their fees differ too: 0.60% for FDM and 0.04% for SCHA.

SCHA currently has the higher Sharpe Ratio (2.35 vs 1.64), 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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