QLD vs. SCHD

Last updated Jun 13, 2026

QLD (ProShares Ultra QQQ) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%), while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 10 years, QLD returned 35.67%/yr vs 12.91%/yr for SCHD. A 0.63 correlation means they provide meaningful diversification when combined. QLD charges 0.95%/yr vs 0.06%/yr for SCHD.

Performance

QLD vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra QQQ (QLD) 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, QLD achieves a 32.65% return, which is significantly higher than SCHD's 20.66% return. Over the past 10 years, QLD has outperformed SCHD with an annualized return of 35.67%, while SCHD has yielded a comparatively lower 12.91% annualized return.

QLD

• 1D: 1.30%
• 1M: 0.90%
• YTD: 32.65%
• 6M: 32.82%
• 1Y: 69.43%
• 3Y*: 44.57%
• 5Y*: 23.24%
• 10Y*: 35.67%

SCHD

• 1D: 0.89%
• 1M: 3.37%
• YTD: 20.66%
• 6M: 19.57%
• 1Y: 26.16%
• 3Y*: 14.90%
• 5Y*: 8.75%
• 10Y*: 12.91%

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

QLD vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QLD ProShares Ultra QQQ	32.65%	30.36%	42.82%	117.72%	-60.52%	54.67%	88.90%	81.69%	-8.31%	70.34%
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 QLD and SCHD is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.56
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.63

Over the past year, the correlation between QLD and SCHD has dropped to 0.17 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.

QLD vs. SCHD - Sectors Allocation Comparison

Sectors	QLD	SCHD
Technology	53.8%	16.4%
Communication Services	15.8%	6.3%
Consumer Cyclical	12.3%	6.3%
Consumer Defensive	7.7%	19.2%
Healthcare	4.2%	18.8%
Industrials	2.8%	7.5%
Utilities	1.4%	0.0%
Basic Materials	1.1%	1.2%
Energy	0.6%	16.2%
Financial Services	0.2%	9.3%
Real Estate	0.1%	-

Return for Risk

QLD vs. SCHD — Risk / Return Rank

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

QLD

QLD Risk / Return Rank: 64
QLD Sharpe Ratio Rank: 73
QLD Sortino Ratio Rank: 61
QLD Omega Ratio Rank: 64
QLD Calmar Ratio Rank: 64
QLD Martin Ratio Rank: 61

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.

QLD vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ (QLD) 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.

	QLD	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.41	-0.37
Sortino ratio: Return per unit of downside risk	2.48	3.72	-1.24
Omega ratio: Gain probability vs. loss probability	1.33	1.43	-0.10
Calmar ratio: Return relative to maximum drawdown	2.78	5.70	-2.92
Martin ratio: Return relative to average drawdown	9.46	13.97	-4.50

QLD vs. SCHD - Sharpe Ratio Comparison

The current QLD Sharpe Ratio is 2.04, which is comparable to the SCHD Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of QLD 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

QLD vs. SCHD - Drawdown Comparison

The maximum QLD drawdown since its inception was -83.13%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for QLD and SCHD.

Drawdown Indicators

	QLD	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-83.13%	-33.37%	-49.76%
Max Drawdown (1Y) Largest decline over 1 year	-25.13%	-4.61%	-20.52%
Max Drawdown (3Y) Largest decline over 3 years	-42.29%	-16.13%	-26.16%
Max Drawdown (5Y) Largest decline over 5 years	-63.68%	-16.85%	-46.83%
Max Drawdown (10Y) Largest decline over 10 years	-63.68%	-33.37%	-30.31%
Current Drawdown Current decline from peak	-7.11%	-0.03%	-7.08%
Average Drawdown Average peak-to-trough decline	-18.16%	-3.31%	-14.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.36%	1.89%	+5.47%

Volatility

QLD vs. SCHD - Volatility Comparison

ProShares Ultra QQQ (QLD) has a higher volatility of 15.14% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 3.05%. This indicates that QLD'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

	QLD	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.14%	3.05%	+12.09%
Volatility (6M) Calculated over the trailing 6-month period	27.51%	7.53%	+19.98%
Volatility (1Y) Calculated over the trailing 1-year period	34.29%	10.93%	+23.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.07%	14.38%	+30.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.73%	16.72%	+28.01%

QLD vs. SCHD - Expense Ratio Comparison

QLD has a 0.95% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

QLD vs. SCHD - Dividend Comparison

QLD's dividend yield for the trailing twelve months is around 0.13%, less than SCHD's 3.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QLD ProShares Ultra QQQ	0.13%	0.17%	0.25%	0.33%	0.31%	0.00%	0.00%	0.13%	0.06%	0.02%	0.21%	0.11%
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 QLD and SCHD in my portfolio?

QLD and SCHD have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QLD or SCHD?

QLD has higher volatility (15.14%) compared to SCHD (3.05%). In terms of maximum drawdown, QLD dropped -83.13% vs SCHD's -33.37%.

Which ETF is better, QLD or SCHD?

On 10-year performance, QLD leads with 35.67% vs 12.91% for SCHD. On fees, SCHD is cheaper at 0.06% per year. On volatility, SCHD has been the lower-risk option at 3.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QLD or SCHD?

Over the 10-year period, QLD has performed better with a 35.67% return vs 12.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QLD or SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.95% for QLD.

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

SCHD has the higher dividend yield at 3.22%, compared with 0.13% for QLD.

What is the main difference between QLD and SCHD?

QLD is categorized as Leveraged Equities, while SCHD is Dividend. QLD tracks NASDAQ-100 Index (200%), while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: ProShares and Charles Schwab. Their fees differ too: 0.95% for QLD and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.41 vs 2.04), 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.