HLAL vs. SCHG

Last updated Jun 5, 2026

HLAL (Wahed FTSE USA Shariah ETF) and SCHG (Schwab U.S. Large-Cap Growth ETF) are both Large Cap Growth Equities funds - HLAL tracks the FTSE Shariah USA Index while SCHG tracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. Both are passively managed. Over the past 5 years, HLAL returned 15.73%/yr vs 15.67%/yr for SCHG. Their correlation of 0.92 suggests significant overlap in exposure. HLAL charges 0.50%/yr vs 0.04%/yr for SCHG.

Performance

HLAL vs. SCHG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wahed FTSE USA Shariah ETF (HLAL) and Schwab U.S. Large-Cap Growth ETF (SCHG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HLAL achieves a 18.08% return, which is significantly higher than SCHG's 6.78% return.

HLAL

• 1D: -0.54%
• 1M: 7.05%
• YTD: 18.08%
• 6M: 17.15%
• 1Y: 42.63%
• 3Y*: 21.88%
• 5Y*: 15.73%
• 10Y*: —

SCHG

• 1D: 0.35%
• 1M: 4.73%
• YTD: 6.78%
• 6M: 6.01%
• 1Y: 24.63%
• 3Y*: 25.14%
• 5Y*: 15.67%
• 10Y*: 18.74%

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

HLAL vs. SCHG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HLAL Wahed FTSE USA Shariah ETF	18.08%	18.30%	16.70%	30.13%	-17.56%	28.64%	24.65%	10.96%
SCHG Schwab U.S. Large-Cap Growth ETF	6.78%	17.50%	34.95%	50.10%	-31.80%	28.11%	39.14%	8.96%

Correlation

The correlation between HLAL and SCHG is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019	0.92

The correlation between HLAL and SCHG has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

HLAL vs. SCHG - Sectors Allocation Comparison

Sectors	HLAL	SCHG
Technology	50.4%	46.3%
Communication Services	16.7%	16.0%
Healthcare	10.5%	7.7%
Consumer Cyclical	5.6%	12.7%
Industrials	4.6%	5.8%
Energy	4.5%	0.8%
Consumer Defensive	2.9%	1.7%
Basic Materials	2.5%	1.4%
Utilities	1.0%	0.4%
Real Estate	0.8%	0.5%
Financial Services	0.0%	6.7%

Return for Risk

HLAL vs. SCHG — Risk / Return Rank

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

HLAL

HLAL Risk / Return Rank: 89
HLAL Sharpe Ratio Rank: 92
HLAL Sortino Ratio Rank: 92
HLAL Omega Ratio Rank: 90
HLAL Calmar Ratio Rank: 81
HLAL Martin Ratio Rank: 88

SCHG

SCHG Risk / Return Rank: 40
SCHG Sharpe Ratio Rank: 46
SCHG Sortino Ratio Rank: 44
SCHG Omega Ratio Rank: 45
SCHG Calmar Ratio Rank: 31
SCHG Martin Ratio Rank: 34

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.

HLAL vs. SCHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wahed FTSE USA Shariah ETF (HLAL) and Schwab U.S. Large-Cap Growth ETF (SCHG). 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.

	HLAL	SCHG	Difference
Sharpe ratio: Return per unit of total volatility	3.25	1.60	+1.65
Sortino ratio: Return per unit of downside risk	4.52	2.18	+2.35
Omega ratio: Gain probability vs. loss probability	1.57	1.28	+0.29
Calmar ratio: Return relative to maximum drawdown	4.20	1.51	+2.69
Martin ratio: Return relative to average drawdown	19.39	5.04	+14.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HLAL vs. SCHG - Sharpe Ratio Comparison

The current HLAL Sharpe Ratio is 3.25, which is higher than the SCHG Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of HLAL and SCHG, 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

	HLAL	SCHG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.25	1.60	+1.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	0.71	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	0.85	+0.04

Drawdowns

HLAL vs. SCHG - Drawdown Comparison

The maximum HLAL drawdown since its inception was -33.57%, roughly equal to the maximum SCHG drawdown of -34.59%. Use the drawdown chart below to compare losses from any high point for HLAL and SCHG.

Drawdown Indicators

	HLAL	SCHG	Difference
Max Drawdown Largest peak-to-trough decline	-33.57%	-34.59%	+1.02%
Max Drawdown (1Y) Largest decline over 1 year	-10.20%	-16.41%	+6.21%
Max Drawdown (3Y) Largest decline over 3 years	-21.67%	-23.39%	+1.72%
Max Drawdown (5Y) Largest decline over 5 years	-23.18%	-34.59%	+11.41%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.59%	—
Current Drawdown Current decline from peak	-0.61%	-1.44%	+0.83%
Average Drawdown Average peak-to-trough decline	-5.00%	-5.20%	+0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	4.90%	-2.70%

Volatility

HLAL vs. SCHG - Volatility Comparison

Wahed FTSE USA Shariah ETF (HLAL) and Schwab U.S. Large-Cap Growth ETF (SCHG) have volatilities of 3.59% and 3.61%, 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

	HLAL	SCHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	3.61%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	9.97%	11.62%	-1.65%
Volatility (1Y) Calculated over the trailing 1-year period	13.19%	15.49%	-2.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.60%	22.26%	-4.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.21%	21.55%	-1.34%

HLAL vs. SCHG - Expense Ratio Comparison

HLAL has a 0.50% expense ratio, which is higher than SCHG's 0.04% expense ratio.

Dividends

HLAL vs. SCHG - Dividend Comparison

HLAL's dividend yield for the trailing twelve months is around 0.45%, more than SCHG's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HLAL Wahed FTSE USA Shariah ETF	0.45%	0.53%	0.58%	0.72%	1.15%	0.78%	0.97%	0.72%	0.00%	0.00%	0.00%	0.00%
SCHG Schwab U.S. Large-Cap Growth ETF	0.36%	0.36%	0.39%	0.46%	0.55%	0.42%	0.52%	0.82%	1.27%	1.01%	1.04%	1.22%

Frequently Asked Questions

Can I hold both HLAL and SCHG in my portfolio?

HLAL and SCHG have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HLAL or SCHG?

SCHG has higher volatility (3.61%) compared to HLAL (3.59%). In terms of maximum drawdown, HLAL dropped -33.57% vs SCHG's -34.59%.

Which ETF is better, HLAL or SCHG?

On 5-year performance, HLAL leads with 15.73% vs 15.67% for SCHG. On fees, SCHG is cheaper at 0.04% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HLAL or SCHG?

Over the 5-year period, HLAL has performed better with a 15.73% return vs 15.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HLAL or SCHG?

SCHG is cheaper with a 0.04% expense ratio, compared with 0.50% for HLAL.

Which ETF pays a higher dividend yield, HLAL or SCHG?

HLAL has the higher dividend yield at 0.45%, compared with 0.36% for SCHG.

What is the main difference between HLAL and SCHG?

HLAL tracks FTSE Shariah USA Index, while SCHG tracks Dow Jones U.S. Large-Cap Growth Total Stock Market Index. They also come from different issuers: Wahed and Charles Schwab. Their fees differ too: 0.50% for HLAL and 0.04% for SCHG.

Which has better risk-adjusted returns?

HLAL currently has the higher Sharpe Ratio (3.25 vs 1.60), 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.