PAYX vs. SCHF

Last updated Jul 18, 2026

PAYX (Paychex, Inc.) is a stock, while SCHF (Schwab International Equity ETF) is Foreign Large Cap Equities fund tracking the FTSE Developed ex U.S. Index. Over the past 10 years, PAYX returned 9.88%/yr vs 10.14%/yr for SCHF. A 0.50 correlation means they provide meaningful diversification when combined.

Performance

PAYX vs. SCHF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Paychex, Inc. (PAYX) and Schwab International Equity ETF (SCHF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAYX achieves a 4.36% return, which is significantly lower than SCHF's 13.04% return. Both investments have delivered pretty close results over the past 10 years, with PAYX having a 9.88% annualized return and SCHF not far ahead at 10.14%.

PAYX

• 1D: -0.27%
• 1M: 17.23%
• 6M: 5.29%
• YTD: 4.36%
• 1Y: -16.89%
• 3Y*: 1.11%
• 5Y*: 3.52%
• 10Y*: 9.88%

SCHF

• 1D: -0.55%
• 1M: -2.67%
• 6M: 8.26%
• YTD: 13.04%
• 1Y: 27.11%
• 3Y*: 17.42%
• 5Y*: 10.02%
• 10Y*: 10.14%

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

PAYX vs. SCHF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAYX Paychex, Inc.	4.36%	-17.49%	21.31%	6.21%	-13.16%	50.16%	13.25%	34.53%	-1.08%	15.41%
SCHF Schwab International Equity ETF	13.04%	34.55%	3.28%	18.35%	-14.80%	11.40%	9.48%	22.26%	-14.29%	26.03%

Correlation

The correlation between PAYX and SCHF is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.44
Correlation (All Time) Calculated using the full available price history since Nov 3, 2009	0.50

The correlation between PAYX and SCHF shifts across timeframes, from -0.04 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PAYX vs. SCHF — Risk / Return Rank

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

PAYX

PAYX Risk / Return Rank: 22
PAYX Sharpe Ratio Rank: 16
PAYX Sortino Ratio Rank: 16
PAYX Omega Ratio Rank: 18
PAYX Calmar Ratio Rank: 30
PAYX Martin Ratio Rank: 32

SCHF

SCHF Risk / Return Rank: 59
SCHF Sharpe Ratio Rank: 59
SCHF Sortino Ratio Rank: 57
SCHF Omega Ratio Rank: 58
SCHF Calmar Ratio Rank: 59
SCHF Martin Ratio Rank: 63

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.

PAYX vs. SCHF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Paychex, Inc. (PAYX) and Schwab International Equity ETF (SCHF). 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.

	PAYX	SCHF	Difference
Sharpe ratio: Return per unit of total volatility	-0.64	1.58	-2.22
Sortino ratio: Return per unit of downside risk	-0.79	2.20	-2.99
Omega ratio: Gain probability vs. loss probability	0.91	1.29	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.41	2.37	-2.78
Martin ratio: Return relative to average drawdown	-0.64	8.90	-9.54

PAYX vs. SCHF - Sharpe Ratio Comparison

The current PAYX Sharpe Ratio is -0.64, which is lower than the SCHF Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of PAYX and SCHF, 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

PAYX vs. SCHF - Drawdown Comparison

The maximum PAYX drawdown since its inception was -64.85%, which is greater than SCHF's maximum drawdown of -34.87%. Use the drawdown chart below to compare losses from any high point for PAYX and SCHF.

Drawdown Indicators

	PAYX	SCHF	Difference
Max Drawdown Largest peak-to-trough decline	-64.85%	-34.87%	-29.98%
Max Drawdown (1Y) Largest decline over 1 year	-41.01%	-11.48%	-29.53%
Max Drawdown (3Y) Largest decline over 3 years	-44.95%	-13.41%	-31.54%
Max Drawdown (5Y) Largest decline over 5 years	-44.95%	-29.14%	-15.81%
Max Drawdown (10Y) Largest decline over 10 years	-44.95%	-34.87%	-10.08%
Current Drawdown Current decline from peak	-25.46%	-3.95%	-21.51%
Average Drawdown Average peak-to-trough decline	-17.99%	-7.34%	-10.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.41%	3.05%	+23.36%

Volatility

PAYX vs. SCHF - Volatility Comparison

Paychex, Inc. (PAYX) has a higher volatility of 10.01% compared to Schwab International Equity ETF (SCHF) at 5.47%. This indicates that PAYX's price experiences larger fluctuations and is considered to be riskier than SCHF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAYX	SCHF	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.01%	5.47%	+4.54%
Volatility (6M) Calculated over the trailing 6-month period	22.20%	15.19%	+7.01%
Volatility (1Y) Calculated over the trailing 1-year period	26.59%	17.18%	+9.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.13%	16.65%	+7.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.34%	17.02%	+8.32%

Dividends

PAYX vs. SCHF - Dividend Comparison

PAYX's dividend yield for the trailing twelve months is around 3.87%, more than SCHF's 3.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAYX Paychex, Inc.	3.87%	3.76%	2.73%	2.90%	2.62%	1.90%	2.66%	2.85%	3.35%	2.82%	2.89%	3.03%
SCHF Schwab International Equity ETF	3.12%	3.42%	3.26%	2.97%	2.80%	3.19%	2.08%	2.95%	3.06%	2.35%	2.58%	2.26%

Frequently Asked Questions

Can I hold both PAYX and SCHF in my portfolio?

PAYX and SCHF have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAYX or SCHF?

PAYX has higher volatility (10.01%) compared to SCHF (5.47%). In terms of maximum drawdown, PAYX dropped -64.85% vs SCHF's -34.87%.

Which has better risk-adjusted returns?

SCHF currently has the higher Sharpe Ratio (1.58 vs -0.64), 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.