PSP vs. SCHD

Last updated Jun 16, 2026

PSP (Invesco Global Listed Private Equity ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - PSP is a Global Equities fund tracking the Red Rocks Global Listed Private Equity 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, PSP returned 8.12%/yr vs 12.83%/yr for SCHD. A 0.67 correlation means they provide meaningful diversification when combined. PSP charges 1.44%/yr vs 0.06%/yr for SCHD.

Performance

PSP vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Global Listed Private Equity ETF (PSP) 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, PSP achieves a -11.42% return, which is significantly lower than SCHD's 19.96% return. Over the past 10 years, PSP has underperformed SCHD with an annualized return of 8.12%, while SCHD has yielded a comparatively higher 12.83% annualized return.

PSP

• 1D: 0.27%
• 1M: -0.85%
• YTD: -11.42%
• 6M: -10.38%
• 1Y: -5.41%
• 3Y*: 9.76%
• 5Y*: 0.38%
• 10Y*: 8.12%

SCHD

• 1D: -0.58%
• 1M: 2.87%
• YTD: 19.96%
• 6M: 18.54%
• 1Y: 25.99%
• 3Y*: 14.28%
• 5Y*: 8.90%
• 10Y*: 12.83%

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

PSP vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSP Invesco Global Listed Private Equity ETF	-11.42%	6.49%	17.42%	37.72%	-37.37%	27.30%	12.47%	35.73%	-15.12%	24.13%
SCHD Schwab U.S. Dividend Equity ETF	19.96%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between PSP and SCHD is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.67

Over the past year, the correlation between PSP and SCHD has dropped to 0.38 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

PSP vs. SCHD - Sectors Allocation Comparison

Sectors	PSP	SCHD
Financial Services	90.9%	9.1%
Consumer Defensive	5.3%	18.5%
Industrials	3.2%	7.4%
Communication Services	1.0%	6.0%
Healthcare	0.5%	18.4%
Basic Materials	0.1%	1.2%
Technology	0.1%	19.4%
Consumer Cyclical	-	6.7%
Energy	-	14.6%
Real Estate	-	-
Utilities	-	0.0%

Return for Risk

PSP vs. SCHD — Risk / Return Rank

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

PSP

PSP Risk / Return Rank: 7
PSP Sharpe Ratio Rank: 7
PSP Sortino Ratio Rank: 6
PSP Omega Ratio Rank: 6
PSP Calmar Ratio Rank: 7
PSP Martin Ratio Rank: 7

SCHD

SCHD Risk / Return Rank: 85
SCHD Sharpe Ratio Rank: 84
SCHD Sortino Ratio Rank: 90
SCHD Omega Ratio Rank: 81
SCHD Calmar Ratio Rank: 92
SCHD Martin Ratio Rank: 80

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.

PSP vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) 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.

	PSP	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	-0.27	2.39	-2.66
Sortino ratio: Return per unit of downside risk	-0.24	3.69	-3.93
Omega ratio: Gain probability vs. loss probability	0.97	1.43	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.24	5.66	-5.90
Martin ratio: Return relative to average drawdown	-0.54	13.87	-14.41

PSP vs. SCHD - Sharpe Ratio Comparison

The current PSP Sharpe Ratio is -0.27, which is lower than the SCHD Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of PSP 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

PSP vs. SCHD - Drawdown Comparison

The maximum PSP drawdown since its inception was -85.40%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for PSP and SCHD.

Drawdown Indicators

	PSP	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-85.40%	-33.37%	-52.03%
Max Drawdown (1Y) Largest decline over 1 year	-22.37%	-4.61%	-17.76%
Max Drawdown (3Y) Largest decline over 3 years	-22.94%	-16.13%	-6.81%
Max Drawdown (5Y) Largest decline over 5 years	-47.16%	-16.85%	-30.31%
Max Drawdown (10Y) Largest decline over 10 years	-47.16%	-33.37%	-13.79%
Current Drawdown Current decline from peak	-15.75%	-0.61%	-15.14%
Average Drawdown Average peak-to-trough decline	-30.67%	-3.31%	-27.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.12%	1.88%	+8.24%

Volatility

PSP vs. SCHD - Volatility Comparison

Invesco Global Listed Private Equity ETF (PSP) has a higher volatility of 7.43% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 3.14%. This indicates that PSP'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

	PSP	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.43%	3.14%	+4.29%
Volatility (6M) Calculated over the trailing 6-month period	16.48%	7.56%	+8.92%
Volatility (1Y) Calculated over the trailing 1-year period	20.15%	10.94%	+9.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.85%	14.39%	+9.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.47%	16.72%	+5.75%

PSP vs. SCHD - Expense Ratio Comparison

PSP has a 1.44% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

PSP vs. SCHD - Dividend Comparison

PSP's dividend yield for the trailing twelve months is around 6.52%, more than SCHD's 3.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSP Invesco Global Listed Private Equity ETF	6.52%	5.87%	8.62%	3.96%	2.88%	10.34%	4.66%	5.87%	6.81%	10.18%	4.12%	6.23%
SCHD Schwab U.S. Dividend Equity ETF	3.24%	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 PSP and SCHD in my portfolio?

PSP and SCHD have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSP or SCHD?

PSP has higher volatility (7.43%) compared to SCHD (3.14%). In terms of maximum drawdown, PSP dropped -85.40% vs SCHD's -33.37%.

Which ETF is better, PSP or SCHD?

On 10-year performance, SCHD leads with 12.83% vs 8.12% for PSP. On fees, SCHD is cheaper at 0.06% per year. On volatility, SCHD has been the lower-risk option at 3.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSP or SCHD?

Over the 10-year period, SCHD has performed better with a 12.83% return vs 8.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSP or SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 1.44% for PSP.

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

PSP has the higher dividend yield at 6.52%, compared with 3.24% for SCHD.

What is the main difference between PSP and SCHD?

PSP is categorized as Global Equities, while SCHD is Dividend. PSP tracks Red Rocks Global Listed Private Equity Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 1.44% for PSP and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.39 vs -0.27), 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.