OTCFX vs. SCHA

Last updated Jun 4, 2026

OTCFX (T. Rowe Price Small-Cap Stock Fund) and SCHA (Schwab U.S. Small-Cap ETF) are both Small Cap Growth Equities funds. Over the past 10 years, OTCFX returned 11.45%/yr vs 11.13%/yr for SCHA. With a 0.97 correlation, they move nearly in lockstep. OTCFX charges 0.85%/yr vs 0.04%/yr for SCHA.

Performance

OTCFX vs. SCHA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Small-Cap Stock Fund (OTCFX) and Schwab U.S. Small-Cap ETF (SCHA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OTCFX achieves a 10.41% return, which is significantly lower than SCHA's 19.79% return. Both investments have delivered pretty close results over the past 10 years, with OTCFX having a 11.45% annualized return and SCHA not far behind at 11.13%.

OTCFX

• 1D: 0.11%
• 1M: 0.95%
• YTD: 10.41%
• 6M: 9.68%
• 1Y: 22.00%
• 3Y*: 14.44%
• 5Y*: 4.91%
• 10Y*: 11.45%

SCHA

• 1D: -0.58%
• 1M: 4.77%
• YTD: 19.79%
• 6M: 19.32%
• 1Y: 40.27%
• 3Y*: 18.92%
• 5Y*: 7.13%
• 10Y*: 11.13%

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

OTCFX vs. SCHA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OTCFX T. Rowe Price Small-Cap Stock Fund	10.41%	8.37%	11.48%	17.56%	-23.47%	17.07%	25.05%	33.61%	-3.39%	15.13%
SCHA Schwab U.S. Small-Cap ETF	19.79%	11.60%	11.16%	18.46%	-19.81%	16.45%	19.34%	26.50%	-11.79%	14.94%

Correlation

The correlation between OTCFX and SCHA is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Nov 4, 2009	0.97

The correlation between OTCFX and SCHA has been stable across timeframes, ranging from 0.91 to 0.97 - a consistent structural relationship.

Return for Risk

OTCFX vs. SCHA — Risk / Return Rank

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

OTCFX

OTCFX Risk / Return Rank: 29
OTCFX Sharpe Ratio Rank: 22
OTCFX Sortino Ratio Rank: 24
OTCFX Omega Ratio Rank: 21
OTCFX Calmar Ratio Rank: 35
OTCFX Martin Ratio Rank: 40

SCHA

SCHA Risk / Return Rank: 71
SCHA Sharpe Ratio Rank: 66
SCHA Sortino Ratio Rank: 67
SCHA Omega Ratio Rank: 60
SCHA Calmar Ratio Rank: 81
SCHA Martin Ratio Rank: 79

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.

OTCFX vs. SCHA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Small-Cap Stock Fund (OTCFX) 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.

	OTCFX	SCHA	Difference
Sharpe ratio: Return per unit of total volatility	1.35	2.25	-0.90
Sortino ratio: Return per unit of downside risk	2.04	3.16	-1.12
Omega ratio: Gain probability vs. loss probability	1.24	1.38	-0.14
Calmar ratio: Return relative to maximum drawdown	2.24	4.26	-2.01
Martin ratio: Return relative to average drawdown	8.57	15.66	-7.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OTCFX vs. SCHA - Sharpe Ratio Comparison

The current OTCFX Sharpe Ratio is 1.35, which is lower than the SCHA Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of OTCFX 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.

Sharpe Ratios by Period

	OTCFX	SCHA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	2.25	-0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.33	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.49	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.57	0.00

Drawdowns

OTCFX vs. SCHA - Drawdown Comparison

The maximum OTCFX drawdown since its inception was -56.37%, which is greater than SCHA's maximum drawdown of -42.41%. Use the drawdown chart below to compare losses from any high point for OTCFX and SCHA.

Drawdown Indicators

	OTCFX	SCHA	Difference
Max Drawdown Largest peak-to-trough decline	-56.37%	-42.41%	-13.96%
Max Drawdown (1Y) Largest decline over 1 year	-10.75%	-9.50%	-1.25%
Max Drawdown (3Y) Largest decline over 3 years	-23.51%	-27.29%	+3.78%
Max Drawdown (5Y) Largest decline over 5 years	-32.44%	-30.79%	-1.65%
Max Drawdown (10Y) Largest decline over 10 years	-37.71%	-42.41%	+4.70%
Current Drawdown Current decline from peak	-2.06%	-0.58%	-1.48%
Average Drawdown Average peak-to-trough decline	-8.23%	-7.58%	-0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.58%	+0.20%

Volatility

OTCFX vs. SCHA - Volatility Comparison

T. Rowe Price Small-Cap Stock Fund (OTCFX) and Schwab U.S. Small-Cap ETF (SCHA) have volatilities of 5.03% and 5.08%, 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

	OTCFX	SCHA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.03%	5.08%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	14.26%	12.83%	+1.43%
Volatility (1Y) Calculated over the trailing 1-year period	17.85%	18.01%	-0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.02%	21.93%	-1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.41%	22.71%	-2.30%

OTCFX vs. SCHA - Expense Ratio Comparison

OTCFX has a 0.85% expense ratio, which is higher than SCHA's 0.04% expense ratio.

Dividends

OTCFX vs. SCHA - Dividend Comparison

OTCFX's dividend yield for the trailing twelve months is around 6.45%, more than SCHA's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OTCFX T. Rowe Price Small-Cap Stock Fund	6.45%	7.13%	16.00%	3.80%	4.12%	7.08%	2.28%	5.35%	12.43%	8.39%	1.89%	10.93%
SCHA Schwab U.S. Small-Cap ETF	1.00%	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

Can I hold both OTCFX and SCHA in my portfolio?

With a correlation of 0.91, OTCFX and SCHA 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, OTCFX or SCHA?

SCHA has higher volatility (5.08%) compared to OTCFX (5.03%). In terms of maximum drawdown, OTCFX dropped -56.37% vs SCHA's -42.41%.

Which has better risk-adjusted returns?

SCHA currently has the higher Sharpe Ratio (2.25 vs 1.35), 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.