ICF vs. SCHD

Last updated Jun 4, 2026

ICF (iShares Cohen & Steers REIT ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - ICF is a REIT fund tracking the Cohen & Steers Realty Majors 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, ICF returned 5.54%/yr vs 12.77%/yr for SCHD. A 0.59 correlation means they provide meaningful diversification when combined. ICF charges 0.34%/yr vs 0.06%/yr for SCHD.

Performance

ICF vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Cohen & Steers REIT ETF (ICF) 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, ICF achieves a 12.19% return, which is significantly lower than SCHD's 19.01% return. Over the past 10 years, ICF has underperformed SCHD with an annualized return of 5.54%, while SCHD has yielded a comparatively higher 12.77% annualized return.

ICF

• 1D: 0.17%
• 1M: -0.92%
• YTD: 12.19%
• 6M: 11.56%
• 1Y: 11.29%
• 3Y*: 10.12%
• 5Y*: 3.01%
• 10Y*: 5.54%

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)

ICF vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICF iShares Cohen & Steers REIT ETF	12.19%	1.85%	5.30%	10.36%	-26.12%	44.17%	-5.43%	25.48%	-2.55%	4.90%
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 ICF and SCHD is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Oct 21, 2011	0.59

The correlation between ICF and SCHD has been stable across timeframes, ranging from 0.57 to 0.66 - a consistent structural relationship.

ICF vs. SCHD - Sectors Allocation Comparison

Sectors	ICF	SCHD
Real Estate	100.0%	-
Basic Materials	-	1.2%
Communication Services	-	6.3%
Consumer Cyclical	-	6.3%
Consumer Defensive	-	19.2%
Energy	-	16.2%
Financial Services	-	9.3%
Healthcare	-	18.8%
Industrials	-	7.5%
Technology	-	16.4%
Utilities	-	0.0%

Return for Risk

ICF vs. SCHD — Risk / Return Rank

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

ICF

ICF Risk / Return Rank: 25
ICF Sharpe Ratio Rank: 23
ICF Sortino Ratio Rank: 22
ICF Omega Ratio Rank: 22
ICF Calmar Ratio Rank: 28
ICF Martin Ratio Rank: 28

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.

ICF vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Cohen & Steers REIT ETF (ICF) 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.

	ICF	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	0.84	2.49	-1.66
Sortino ratio: Return per unit of downside risk	1.20	3.87	-2.67
Omega ratio: Gain probability vs. loss probability	1.15	1.45	-0.30
Calmar ratio: Return relative to maximum drawdown	1.38	5.91	-4.53
Martin ratio: Return relative to average drawdown	3.92	14.53	-10.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICF vs. SCHD - Sharpe Ratio Comparison

The current ICF Sharpe Ratio is 0.84, which is lower than the SCHD Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of ICF 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

	ICF	SCHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.84	2.49	-1.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	0.58	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	0.77	-0.50
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.86	-0.55

Drawdowns

ICF vs. SCHD - Drawdown Comparison

The maximum ICF drawdown since its inception was -76.74%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for ICF and SCHD.

Drawdown Indicators

	ICF	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-76.74%	-33.37%	-43.37%
Max Drawdown (1Y) Largest decline over 1 year	-8.20%	-4.61%	-3.59%
Max Drawdown (3Y) Largest decline over 3 years	-17.25%	-16.13%	-1.12%
Max Drawdown (5Y) Largest decline over 5 years	-34.74%	-16.85%	-17.89%
Max Drawdown (10Y) Largest decline over 10 years	-40.22%	-33.37%	-6.85%
Current Drawdown Current decline from peak	-2.67%	-1.40%	-1.27%
Average Drawdown Average peak-to-trough decline	-14.18%	-3.32%	-10.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.88%	1.88%	+1.00%

Volatility

ICF vs. SCHD - Volatility Comparison

iShares Cohen & Steers REIT ETF (ICF) has a higher volatility of 3.71% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 2.66%. This indicates that ICF'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

	ICF	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.71%	2.66%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	9.85%	7.66%	+2.19%
Volatility (1Y) Calculated over the trailing 1-year period	13.57%	10.96%	+2.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.91%	14.38%	+4.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.58%	16.72%	+3.86%

ICF vs. SCHD - Expense Ratio Comparison

ICF has a 0.34% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

ICF vs. SCHD - Dividend Comparison

ICF's dividend yield for the trailing twelve months is around 2.48%, less than SCHD's 3.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICF iShares Cohen & Steers REIT ETF	2.48%	2.88%	2.66%	2.76%	2.64%	1.82%	2.38%	2.55%	3.20%	3.10%	4.21%	3.30%
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 ICF and SCHD in my portfolio?

ICF and SCHD have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICF or SCHD?

ICF has higher volatility (3.71%) compared to SCHD (2.66%). In terms of maximum drawdown, ICF dropped -76.74% vs SCHD's -33.37%.

Which ETF is better, ICF or SCHD?

On 10-year performance, SCHD leads with 12.77% vs 5.54% for ICF. 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, ICF or SCHD?

Over the 10-year period, SCHD has performed better with a 12.77% return vs 5.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ICF or SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.34% for ICF.

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

SCHD has the higher dividend yield at 3.26%, compared with 2.48% for ICF.

What is the main difference between ICF and SCHD?

ICF is categorized as REIT, while SCHD is Dividend. ICF tracks Cohen & Steers Realty Majors 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: 0.34% for ICF and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.49 vs 0.84), 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.