PRPFX vs. SCHD

Last updated Jun 13, 2026

PRPFX (Permanent Portfolio Class I) and SCHD (Schwab U.S. Dividend Equity ETF) are both funds - PRPFX is a Diversified Portfolio fund actively managed by Permanent Portfolio, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. PRPFX is actively managed, while SCHD is passively managed. Over the past 10 years, PRPFX returned 10.56%/yr vs 12.91%/yr for SCHD. A 0.58 correlation means they provide meaningful diversification when combined. PRPFX charges 0.81%/yr vs 0.06%/yr for SCHD.

Performance

PRPFX vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Permanent Portfolio Class I (PRPFX) 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, PRPFX achieves a 3.05% return, which is significantly lower than SCHD's 20.66% return. Over the past 10 years, PRPFX has underperformed SCHD with an annualized return of 10.56%, while SCHD has yielded a comparatively higher 12.91% annualized return.

PRPFX

• 1D: 0.64%
• 1M: -2.53%
• YTD: 3.05%
• 6M: 4.38%
• 1Y: 17.66%
• 3Y*: 19.77%
• 5Y*: 10.72%
• 10Y*: 10.56%

SCHD

• 1D: 0.89%
• 1M: 3.21%
• YTD: 20.66%
• 6M: 19.57%
• 1Y: 26.72%
• 3Y*: 14.90%
• 5Y*: 8.75%
• 10Y*: 12.91%

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

PRPFX vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRPFX Permanent Portfolio Class I	3.05%	28.78%	19.36%	11.96%	-5.48%	10.87%	18.80%	19.20%	-7.02%	11.42%
SCHD Schwab U.S. Dividend Equity ETF	20.66%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between PRPFX and SCHD is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.58

Over the past year, the correlation between PRPFX and SCHD has dropped to 0.33 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

Return for Risk

PRPFX vs. SCHD — Risk / Return Rank

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

PRPFX

PRPFX Risk / Return Rank: 40
PRPFX Sharpe Ratio Rank: 40
PRPFX Sortino Ratio Rank: 30
PRPFX Omega Ratio Rank: 48
PRPFX Calmar Ratio Rank: 49
PRPFX Martin Ratio Rank: 33

SCHD

SCHD Risk / Return Rank: 87
SCHD Sharpe Ratio Rank: 86
SCHD Sortino Ratio Rank: 90
SCHD Omega Ratio Rank: 83
SCHD Calmar Ratio Rank: 93
SCHD Martin Ratio Rank: 81

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.

PRPFX vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Permanent Portfolio Class I (PRPFX) 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.

	PRPFX	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	1.45	2.41	-0.96
Sortino ratio: Return per unit of downside risk	1.81	3.72	-1.91
Omega ratio: Gain probability vs. loss probability	1.29	1.43	-0.14
Calmar ratio: Return relative to maximum drawdown	2.20	5.70	-3.49
Martin ratio: Return relative to average drawdown	5.95	13.97	-8.01

PRPFX vs. SCHD - Sharpe Ratio Comparison

The current PRPFX Sharpe Ratio is 1.45, which is lower than the SCHD Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of PRPFX 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

PRPFX vs. SCHD - Drawdown Comparison

The maximum PRPFX drawdown since its inception was -27.16%, smaller than the maximum SCHD drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for PRPFX and SCHD.

Drawdown Indicators

	PRPFX	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-27.16%	-33.37%	+6.21%
Max Drawdown (1Y) Largest decline over 1 year	-8.40%	-4.61%	-3.79%
Max Drawdown (3Y) Largest decline over 3 years	-8.40%	-16.13%	+7.73%
Max Drawdown (5Y) Largest decline over 5 years	-15.49%	-16.85%	+1.36%
Max Drawdown (10Y) Largest decline over 10 years	-20.84%	-33.37%	+12.53%
Current Drawdown Current decline from peak	-7.81%	-0.03%	-7.78%
Average Drawdown Average peak-to-trough decline	-3.52%	-3.31%	-0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	1.89%	+1.21%

Volatility

PRPFX vs. SCHD - Volatility Comparison

Permanent Portfolio Class I (PRPFX) has a higher volatility of 3.64% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 3.05%. This indicates that PRPFX'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

	PRPFX	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.64%	3.05%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	11.59%	7.53%	+4.06%
Volatility (1Y) Calculated over the trailing 1-year period	12.79%	10.93%	+1.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.13%	14.38%	-3.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.65%	16.72%	-6.07%

PRPFX vs. SCHD - Expense Ratio Comparison

PRPFX has a 0.81% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

PRPFX vs. SCHD - Dividend Comparison

PRPFX's dividend yield for the trailing twelve months is around 3.17%, less than SCHD's 3.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRPFX Permanent Portfolio Class I	3.17%	3.27%	1.86%	1.39%	1.58%	2.05%	5.38%	4.69%	6.90%	2.14%	0.95%	7.06%
SCHD Schwab U.S. Dividend Equity ETF	3.22%	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 PRPFX and SCHD in my portfolio?

PRPFX and SCHD have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRPFX or SCHD?

PRPFX has higher volatility (3.64%) compared to SCHD (3.05%). In terms of maximum drawdown, PRPFX dropped -27.16% vs SCHD's -33.37%.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.41 vs 1.45), 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.