SCHA vs. FLQS

Last updated Jun 4, 2026

SCHA (Schwab U.S. Small-Cap ETF) and FLQS (Franklin LibertyQ U.S. Small Cap Equity ETF) are both Small Cap Growth Equities funds - SCHA tracks the Dow Jones U.S. Small-Cap Total Stock Market Total Return Index while FLQS tracks the LibertyQ U.S. Small Cap Equity Index. Both are passively managed. Over the past 5 years, SCHA returned 7.13%/yr vs 5.27%/yr for FLQS. Their correlation of 0.88 suggests significant overlap in exposure. SCHA charges 0.04%/yr vs 0.35%/yr for FLQS.

Performance

SCHA vs. FLQS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Small-Cap ETF (SCHA) and Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHA achieves a 19.79% return, which is significantly higher than FLQS's 6.14% return.

SCHA

• 1D: -0.58%
• 1M: 4.77%
• YTD: 19.79%
• 6M: 19.32%
• 1Y: 40.27%
• 3Y*: 18.92%
• 5Y*: 7.13%
• 10Y*: 11.13%

FLQS

• 1D: -0.81%
• 1M: 0.12%
• YTD: 6.14%
• 6M: 5.99%
• 1Y: 13.84%
• 3Y*: 11.59%
• 5Y*: 5.27%
• 10Y*: —

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

SCHA vs. FLQS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHA Schwab U.S. Small-Cap ETF	19.79%	11.60%	11.16%	18.46%	-19.81%	16.45%	19.34%	26.50%	-11.79%	11.00%
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF	6.14%	5.04%	8.34%	21.28%	-16.88%	26.58%	10.51%	18.34%	-5.86%	7.41%

Correlation

The correlation between SCHA and FLQS is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since May 1, 2017	0.88

The correlation between SCHA and FLQS has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.

SCHA vs. FLQS - Sectors Allocation Comparison

Sectors	SCHA	FLQS
Technology	23.3%	17.1%
Financial Services	15.7%	12.6%
Industrials	15.4%	16.3%
Healthcare	13.5%	9.6%
Consumer Cyclical	9.0%	15.6%
Real Estate	6.0%	6.7%
Energy	5.5%	4.6%
Basic Materials	4.2%	2.1%
Consumer Defensive	2.6%	7.8%
Communication Services	2.4%	1.9%
Utilities	2.3%	5.8%

Return for Risk

SCHA vs. FLQS — Risk / Return Rank

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

SCHA

SCHA Risk / Return Rank: 71
SCHA Sharpe Ratio Rank: 66
SCHA Sortino Ratio Rank: 67
SCHA Omega Ratio Rank: 60
SCHA Calmar Ratio Rank: 81
SCHA Martin Ratio Rank: 79

FLQS

FLQS Risk / Return Rank: 28
FLQS Sharpe Ratio Rank: 26
FLQS Sortino Ratio Rank: 26
FLQS Omega Ratio Rank: 25
FLQS Calmar Ratio Rank: 32
FLQS Martin Ratio Rank: 31

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.

SCHA vs. FLQS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Small-Cap ETF (SCHA) and Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS). 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.

	SCHA	FLQS	Difference
Sharpe ratio: Return per unit of total volatility	2.25	0.91	+1.34
Sortino ratio: Return per unit of downside risk	3.16	1.44	+1.72
Omega ratio: Gain probability vs. loss probability	1.38	1.17	+0.21
Calmar ratio: Return relative to maximum drawdown	4.26	1.54	+2.71
Martin ratio: Return relative to average drawdown	15.66	4.55	+11.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCHA vs. FLQS - Sharpe Ratio Comparison

The current SCHA Sharpe Ratio is 2.25, which is higher than the FLQS Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of SCHA and FLQS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SCHA	FLQS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.25	0.91	+1.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.28	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.38	+0.20

Drawdowns

SCHA vs. FLQS - Drawdown Comparison

The maximum SCHA drawdown since its inception was -42.41%, roughly equal to the maximum FLQS drawdown of -42.16%. Use the drawdown chart below to compare losses from any high point for SCHA and FLQS.

Drawdown Indicators

	SCHA	FLQS	Difference
Max Drawdown Largest peak-to-trough decline	-42.41%	-42.16%	-0.25%
Max Drawdown (1Y) Largest decline over 1 year	-9.50%	-9.00%	-0.50%
Max Drawdown (3Y) Largest decline over 3 years	-27.29%	-23.12%	-4.17%
Max Drawdown (5Y) Largest decline over 5 years	-30.79%	-28.05%	-2.74%
Max Drawdown (10Y) Largest decline over 10 years	-42.41%	—	—
Current Drawdown Current decline from peak	-0.58%	-1.33%	+0.75%
Average Drawdown Average peak-to-trough decline	-7.58%	-8.02%	+0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	3.05%	-0.47%

Volatility

SCHA vs. FLQS - Volatility Comparison

Schwab U.S. Small-Cap ETF (SCHA) has a higher volatility of 5.08% compared to Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS) at 4.09%. This indicates that SCHA's price experiences larger fluctuations and is considered to be riskier than FLQS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHA	FLQS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.08%	4.09%	+0.99%
Volatility (6M) Calculated over the trailing 6-month period	12.83%	10.26%	+2.57%
Volatility (1Y) Calculated over the trailing 1-year period	18.01%	15.22%	+2.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.93%	19.24%	+2.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.71%	21.68%	+1.03%

SCHA vs. FLQS - Expense Ratio Comparison

SCHA has a 0.04% expense ratio, which is lower than FLQS's 0.35% expense ratio.

Dividends

SCHA vs. FLQS - Dividend Comparison

SCHA's dividend yield for the trailing twelve months is around 1.00%, less than FLQS's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF	1.35%	1.16%	1.29%	1.75%	1.40%	0.95%	1.20%	1.41%	1.27%	1.02%	0.00%	0.00%
SCHA Schwab U.S. Small-Cap ETF	1.00%	1.26%	1.51%	1.42%	1.37%	1.19%	1.05%	1.39%	1.58%	1.24%	1.50%	1.48%

Frequently Asked Questions

Can I hold both SCHA and FLQS in my portfolio?

SCHA and FLQS have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHA or FLQS?

SCHA has higher volatility (5.08%) compared to FLQS (4.09%). In terms of maximum drawdown, SCHA dropped -42.41% vs FLQS's -42.16%.

Which ETF is better, SCHA or FLQS?

On 5-year performance, SCHA leads with 7.13% vs 5.27% for FLQS. On fees, SCHA is cheaper at 0.04% per year. On volatility, FLQS has been the lower-risk option at 4.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHA or FLQS?

Over the 5-year period, SCHA has performed better with a 7.13% return vs 5.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHA or FLQS?

SCHA is cheaper with a 0.04% expense ratio, compared with 0.35% for FLQS.

Which ETF pays a higher dividend yield, SCHA or FLQS?

FLQS has the higher dividend yield at 1.35%, compared with 1.00% for SCHA.

What is the main difference between SCHA and FLQS?

SCHA tracks Dow Jones U.S. Small-Cap Total Stock Market Total Return Index, while FLQS tracks LibertyQ U.S. Small Cap Equity Index. They also come from different issuers: Charles Schwab and Franklin Templeton. Their fees differ too: 0.04% for SCHA and 0.35% for FLQS.

Which has better risk-adjusted returns?

SCHA currently has the higher Sharpe Ratio (2.25 vs 0.91), 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.