FIOOX vs. SCHV

Last updated Jun 4, 2026

FIOOX (Fidelity Series Large Cap Value Index Fund) and SCHV (Schwab U.S. Large-Cap Value ETF) are both Large Cap Value Equities funds. Over the past 10 years, FIOOX returned 11.18%/yr vs 11.50%/yr for SCHV. With a 0.98 correlation, they move nearly in lockstep. FIOOX charges 0.00%/yr vs 0.04%/yr for SCHV.

Performance

FIOOX vs. SCHV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Large Cap Value Index Fund (FIOOX) and Schwab U.S. Large-Cap Value ETF (SCHV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIOOX achieves a 14.32% return, which is significantly lower than SCHV's 15.39% return. Both investments have delivered pretty close results over the past 10 years, with FIOOX having a 11.18% annualized return and SCHV not far ahead at 11.50%.

FIOOX

• 1D: 0.77%
• 1M: 4.25%
• YTD: 14.32%
• 6M: 14.94%
• 1Y: 28.42%
• 3Y*: 18.65%
• 5Y*: 10.50%
• 10Y*: 11.18%

SCHV

• 1D: 0.09%
• 1M: 5.65%
• YTD: 15.39%
• 6M: 16.00%
• 1Y: 28.49%
• 3Y*: 18.86%
• 5Y*: 10.40%
• 10Y*: 11.50%

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

FIOOX vs. SCHV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIOOX Fidelity Series Large Cap Value Index Fund	14.32%	15.95%	14.34%	11.60%	-7.56%	25.23%	2.85%	26.57%	-8.28%	11.06%
SCHV Schwab U.S. Large-Cap Value ETF	15.39%	16.02%	14.13%	8.93%	-7.65%	25.58%	2.64%	25.92%	-7.30%	16.56%

Correlation

The correlation between FIOOX and SCHV is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
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 20, 2013	0.98

The correlation between FIOOX and SCHV has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

FIOOX vs. SCHV — Risk / Return Rank

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

FIOOX

FIOOX Risk / Return Rank: 83
FIOOX Sharpe Ratio Rank: 84
FIOOX Sortino Ratio Rank: 81
FIOOX Omega Ratio Rank: 74
FIOOX Calmar Ratio Rank: 88
FIOOX Martin Ratio Rank: 90

SCHV

SCHV Risk / Return Rank: 81
SCHV Sharpe Ratio Rank: 81
SCHV Sortino Ratio Rank: 84
SCHV Omega Ratio Rank: 78
SCHV Calmar Ratio Rank: 80
SCHV Martin Ratio Rank: 82

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.

FIOOX vs. SCHV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Large Cap Value Index Fund (FIOOX) and Schwab U.S. Large-Cap Value ETF (SCHV). 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.

	FIOOX	SCHV	Difference
Sharpe ratio Return per unit of total volatility	2.71	2.69	+0.01
Sortino ratio Return per unit of downside risk	3.81	3.84	-0.02
Omega ratio Gain probability vs. loss probability	1.49	1.48	+0.01
Calmar ratio Return relative to maximum drawdown	4.31	4.19	+0.12
Martin ratio Return relative to average drawdown	18.02	16.96	+1.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIOOX vs. SCHV - Sharpe Ratio Comparison

The current FIOOX Sharpe Ratio is 2.71, which is comparable to the SCHV Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of FIOOX and SCHV, 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

	FIOOX	SCHV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.71	2.69	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.72	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.68	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.72	-0.11

Drawdowns

FIOOX vs. SCHV - Drawdown Comparison

The maximum FIOOX drawdown since its inception was -38.31%, roughly equal to the maximum SCHV drawdown of -37.08%. Use the drawdown chart below to compare losses from any high point for FIOOX and SCHV.

Drawdown Indicators

	FIOOX	SCHV	Difference
Max Drawdown Largest peak-to-trough decline	-38.31%	-37.08%	-1.23%
Max Drawdown (1Y) Largest decline over 1 year	-6.80%	-6.83%	+0.03%
Max Drawdown (3Y) Largest decline over 3 years	-15.66%	-15.26%	-0.40%
Max Drawdown (5Y) Largest decline over 5 years	-19.02%	-19.78%	+0.76%
Max Drawdown (10Y) Largest decline over 10 years	-38.31%	-37.08%	-1.23%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.05%	-3.83%	-0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.62%	1.69%	-0.07%

Volatility

FIOOX vs. SCHV - Volatility Comparison

Fidelity Series Large Cap Value Index Fund (FIOOX) and Schwab U.S. Large-Cap Value ETF (SCHV) have volatilities of 3.06% and 3.09%, 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

	FIOOX	SCHV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	3.09%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	8.16%	8.13%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	10.82%	10.63%	+0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.88%	14.51%	+0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.38%	16.94%	+0.44%

FIOOX vs. SCHV - Expense Ratio Comparison

FIOOX has a 0.00% expense ratio, which is lower than SCHV's 0.04% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FIOOX vs. SCHV - Dividend Comparison

FIOOX's dividend yield for the trailing twelve months is around 3.09%, more than SCHV's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIOOX Fidelity Series Large Cap Value Index Fund	3.09%	3.66%	3.30%	4.31%	4.39%	6.12%	2.59%	6.82%	4.99%	1.74%	2.48%	6.77%
SCHV Schwab U.S. Large-Cap Value ETF	1.76%	2.02%	2.25%	2.42%	2.37%	1.93%	3.03%	3.02%	3.05%	2.37%	2.65%	2.69%

Frequently Asked Questions

Can I hold both FIOOX and SCHV in my portfolio?

With a correlation of 0.97, FIOOX and SCHV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FIOOX or SCHV?

SCHV has higher volatility (3.09%) compared to FIOOX (3.06%). In terms of maximum drawdown, FIOOX dropped -38.31% vs SCHV's -37.08%.

Which has better risk-adjusted returns?

FIOOX currently has the higher Sharpe Ratio (2.71 vs 2.69), 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.