IWR vs. SCHD

Last updated Aug 2, 2026

IWR (iShares Russell Midcap ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - IWR is a Mid Cap Blend Equities fund tracking the Russell Midcap 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, IWR returned 11.43%/yr vs 12.76%/yr for SCHD. Their correlation of 0.84 means they have usually moved in the same direction. IWR charges 0.19%/yr vs 0.06%/yr for SCHD.

Performance

IWR vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell Midcap ETF (IWR) 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, IWR achieves a 14.55% return, which is significantly lower than SCHD's 24.03% return. Over the past 10 years, IWR has underperformed SCHD with an annualized return of 11.43%, while SCHD has yielded a comparatively higher 12.76% annualized return.

IWR

• 1D: -0.28%
• 1M: -0.59%
• 6M: 11.19%
• YTD: 14.55%
• 1Y: 20.25%
• 3Y*: 14.75%
• 5Y*: 8.04%
• 10Y*: 11.43%
• ALL TIME*: 9.95%

SCHD

• 1D: 0.18%
• 1M: 3.33%
• 6M: 14.09%
• YTD: 24.03%
• 1Y: 31.54%
• 3Y*: 14.19%
• 5Y*: 9.54%
• 10Y*: 12.76%
• ALL TIME*: 13.39%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IWR iShares Russell Midcap ETF	$186.41M	$266.84M	$222.00M
SCHD Schwab U.S. Dividend Equity ETF	$786.88M	$715.86M	$685.58M

IWR vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWR iShares Russell Midcap ETF	14.55%	10.37%	15.21%	17.05%	-17.48%	22.44%	16.93%	30.23%	-9.10%	18.25%
SCHD Schwab U.S. Dividend Equity ETF	24.03%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between IWR and SCHD is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.55
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (10Y) Provides a long-term view across more market conditions.	0.81
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.84

Over the past year, the correlation between IWR and SCHD has dropped to 0.55 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.

IWR vs. SCHD - Sectors Allocation Comparison

Sectors	IWR	SCHD
Technology	18.3%	12.7%
Industrials	17.2%	7.8%
Financial Services	12.6%	9.9%
Healthcare	10.9%	20.8%
Consumer Cyclical	10.2%	7.7%
Real Estate	6.9%	-
Utilities	6.0%	0.1%
Energy	5.8%	14.1%
Consumer Defensive	4.5%	20.6%
Basic Materials	4.2%	1.2%
Communication Services	3.5%	6.2%

Return for Risk

IWR vs. SCHD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IWR

IWR Risk / Return Rank: 62
IWR Sharpe Ratio Rank: 57
IWR Sortino Ratio Rank: 59
IWR Omega Ratio Rank: 55
IWR Calmar Ratio Rank: 66
IWR Martin Ratio Rank: 72

SCHD

SCHD Risk / Return Rank: 95
SCHD Sharpe Ratio Rank: 96
SCHD Sortino Ratio Rank: 96
SCHD Omega Ratio Rank: 94
SCHD Calmar Ratio Rank: 96
SCHD Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IWR vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Midcap ETF (IWR) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IWR	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	1.37	2.81	-1.45
Sortino ratio: Return per unit of downside risk	2.00	4.37	-2.37
Omega ratio: Gain probability vs. loss probability	1.24	1.51	-0.26
Calmar ratio: Return relative to maximum drawdown	2.28	6.74	-4.45
Martin ratio: Return relative to average drawdown	8.85	17.01	-8.16

IWR vs. SCHD - Sharpe Ratio Comparison

The current IWR Sharpe Ratio is 1.37, which is lower than the SCHD Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of IWR 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.

Drawdowns

IWR vs. SCHD - Drawdown Comparison

The maximum IWR drawdown since its inception was -58.78%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for IWR and SCHD.

Drawdown Indicators

	IWR	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-58.78%	-33.37%	-25.41%
Max Drawdown (1Y) Largest decline over 1 year	-8.17%	-4.61%	-3.56%
Max Drawdown (3Y) Largest decline over 3 years	-21.09%	-16.13%	-4.96%
Max Drawdown (5Y) Largest decline over 5 years	-26.18%	-16.85%	-9.33%
Max Drawdown (10Y) Largest decline over 10 years	-40.59%	-33.37%	-7.22%
Current Drawdown Current decline from peak	-0.93%	-1.24%	+0.31%
Average Drawdown Average peak-to-trough decline	-7.76%	-3.30%	-4.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	1.82%	+0.28%

Volatility

IWR vs. SCHD - Volatility Comparison

The current volatility for iShares Russell Midcap ETF (IWR) is 2.48%, while Schwab U.S. Dividend Equity ETF (SCHD) has a volatility of 4.11%. This indicates that IWR experiences smaller price fluctuations and is considered to be less risky than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWR	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.48%	4.11%	-1.63%
Volatility (6M) Calculated over the trailing 6-month period	10.17%	8.11%	+2.06%
Volatility (1Y) Calculated over the trailing 1-year period	13.67%	11.13%	+2.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.22%	14.39%	+3.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.31%	16.72%	+2.59%

IWR vs. SCHD - Expense Ratio Comparison

IWR has a 0.19% expense ratio, which is higher than SCHD's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IWR vs. SCHD - Dividend Comparison

IWR's dividend yield for the trailing twelve months is around 1.16%, less than SCHD's 3.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWR iShares Russell Midcap ETF	1.16%	1.29%	1.27%	1.43%	1.59%	1.04%	1.28%	1.43%	1.98%	1.52%	1.72%	1.59%
SCHD Schwab U.S. Dividend Equity ETF	3.13%	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 IWR and SCHD in my portfolio?

IWR and SCHD have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWR or SCHD?

SCHD has higher volatility (4.11%) compared to IWR (2.48%). In terms of maximum drawdown, IWR dropped -58.78% vs SCHD's -33.37%.

Which ETF is better, IWR or SCHD?

On 10-year performance, SCHD leads with 12.76% vs 11.43% for IWR. On fees, SCHD is cheaper at 0.06% per year. On volatility, IWR has been the lower-risk option at 2.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWR or SCHD?

Over the 10-year period, SCHD has performed better with a 12.76% return vs 11.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWR or SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.19% for IWR.

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

SCHD has the higher dividend yield at 3.13%, compared with 1.16% for IWR.

What is the main difference between IWR and SCHD?

IWR is categorized as Mid Cap Blend Equities, while SCHD is Dividend. IWR tracks Russell Midcap 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: 0.19% for IWR and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.81 vs 1.36), 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.