REFI vs. SCHD
REFI (Chicago Atlantic Real Estate Finance, Inc.) is a stock, while SCHD (Schwab U.S. Dividend Equity ETF) is Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Over the past 3 years, REFI returned 2.87%/yr vs 14.13%/yr for SCHD. At a 0.37 correlation, their price movements are largely independent.
Performance
REFI vs. SCHD - Performance Comparison
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Returns By Period
In the year-to-date period, REFI achieves a -4.76% return, which is significantly lower than SCHD's 20.66% return.
REFI
- 1D
- -0.83%
- 1M
- -1.44%
- 6M
- -6.06%
- YTD
- -4.76%
- 1Y
- -9.53%
- 3Y*
- 2.87%
- 5Y*
- —
- 10Y*
- —
SCHD
- 1D
- 0.49%
- 1M
- -0.00%
- 6M
- 16.13%
- YTD
- 20.66%
- 1Y
- 23.51%
- 3Y*
- 14.13%
- 5Y*
- 9.00%
- 10Y*
- 12.34%
REFI vs. SCHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
REFI Chicago Atlantic Real Estate Finance, Inc. | -4.76% | -8.70% | 8.69% | 23.70% | 3.35% | 1.52% |
SCHD Schwab U.S. Dividend Equity ETF | 20.66% | 4.34% | 11.66% | 4.54% | -3.26% | 3.88% |
Correlation
The correlation between REFI 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 | 0.45 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2021 | 0.37 |
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Return for Risk
REFI vs. SCHD — Risk / Return Rank
REFI
SCHD
REFI vs. SCHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Chicago Atlantic Real Estate Finance, Inc. (REFI) 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.
| REFI | SCHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.55 | ||
| Sortino ratioReturn per unit of downside risk | -3.70 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.38 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | 5.12 | -5.75 |
| Martin ratioReturn relative to average drawdown | -1.08 | 12.47 | -13.55 |
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Drawdowns
REFI vs. SCHD - Drawdown Comparison
The maximum REFI drawdown since its inception was -26.55%, smaller than the maximum SCHD drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for REFI and SCHD.
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Drawdown Indicators
| REFI | SCHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.55% | -33.37% | +6.82% |
Max Drawdown (1Y)Largest decline over 1 year | -15.25% | -4.61% | -10.64% |
Max Drawdown (3Y)Largest decline over 3 years | -19.76% | -16.13% | -3.63% |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.85% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.37% | — |
Current DrawdownCurrent decline from peak | -17.43% | -0.03% | -17.40% |
Average DrawdownAverage peak-to-trough decline | -10.04% | -3.31% | -6.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.81% | 1.89% | +6.92% |
Volatility
REFI vs. SCHD - Volatility Comparison
Chicago Atlantic Real Estate Finance, Inc. (REFI) has a higher volatility of 8.92% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 3.54%. This indicates that REFI'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.
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Volatility by Period
| REFI | SCHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.92% | 3.54% | +5.38% |
Volatility (6M)Calculated over the trailing 6-month period | 17.00% | 7.70% | +9.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.69% | 10.93% | +13.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.40% | 14.36% | +10.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.40% | 16.70% | +7.70% |
Dividends
REFI vs. SCHD - Dividend Comparison
REFI's dividend yield for the trailing twelve months is around 17.52%, more than SCHD's 3.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
REFI Chicago Atlantic Real Estate Finance, Inc. | 17.52% | 15.33% | 13.36% | 13.41% | 13.93% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
REFI 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.
REFI has higher volatility (8.92%) compared to SCHD (3.54%). In terms of maximum drawdown, REFI dropped -26.55% vs SCHD's -33.37%.
SCHD currently has the higher Sharpe Ratio (2.17 vs -0.39), 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.
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