SCHA vs. QDTE

Last updated Jun 9, 2026

SCHA (Schwab U.S. Small-Cap ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - SCHA is a Small Cap Blend Equities fund tracking the Dow Jones U.S. Small-Cap Total Stock Market Index, while QDTE is a Derivative Income fund actively managed by Roundhill. SCHA is passively managed, while QDTE is actively managed. Over the past year, SCHA returned 36.31% vs 34.41% for QDTE. A 0.66 correlation means they provide meaningful diversification when combined. SCHA charges 0.04%/yr vs 0.97%/yr for QDTE.

Performance

SCHA vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Small-Cap ETF (SCHA) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHA achieves a 17.78% return, which is significantly higher than QDTE's 12.44% return.

SCHA

• 1D: 0.93%
• 1M: 0.12%
• YTD: 17.78%
• 6M: 16.92%
• 1Y: 36.31%
• 3Y*: 17.52%
• 5Y*: 6.45%
• 10Y*: 10.95%

QDTE

• 1D: 1.85%
• 1M: 0.70%
• YTD: 12.44%
• 6M: 11.71%
• 1Y: 34.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCHA vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SCHA Schwab U.S. Small-Cap ETF	17.78%	11.60%	8.86%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	12.44%	19.32%	16.07%

Correlation

The correlation between SCHA and QDTE is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024	0.66

The correlation between SCHA and QDTE has been stable across timeframes, ranging from 0.65 to 0.66 - a consistent structural relationship.

SCHA vs. QDTE - Sectors Allocation Comparison

Sectors	SCHA	QDTE
Technology	23.9%	-
Industrials	15.6%	-
Financial Services	15.3%	5.4%
Healthcare	13.2%	-
Consumer Cyclical	9.0%	-
Real Estate	5.9%	-
Energy	5.4%	-
Basic Materials	4.4%	-
Consumer Defensive	2.5%	-
Utilities	2.3%	-
Communication Services	2.3%	-

Return for Risk

SCHA vs. QDTE — 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: 67
SCHA Sortino Ratio Rank: 68
SCHA Omega Ratio Rank: 61
SCHA Calmar Ratio Rank: 81
SCHA Martin Ratio Rank: 79

QDTE

QDTE Risk / Return Rank: 74
QDTE Sharpe Ratio Rank: 76
QDTE Sortino Ratio Rank: 67
QDTE Omega Ratio Rank: 74
QDTE Calmar Ratio Rank: 74
QDTE Martin Ratio Rank: 78

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. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Small-Cap ETF (SCHA) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE). 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	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.20	-0.21
Sortino ratio: Return per unit of downside risk	2.79	2.77	+0.02
Omega ratio: Gain probability vs. loss probability	1.34	1.39	-0.06
Calmar ratio: Return relative to maximum drawdown	3.84	3.39	+0.45
Martin ratio: Return relative to average drawdown	14.05	13.52	+0.52
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. QDTE - Sharpe Ratio Comparison

The current SCHA Sharpe Ratio is 2.00, which is comparable to the QDTE Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of SCHA and QDTE, 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	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	2.20	-0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	1.17	-0.60

Drawdowns

SCHA vs. QDTE - Drawdown Comparison

The maximum SCHA drawdown since its inception was -42.41%, which is greater than QDTE's maximum drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for SCHA and QDTE.

Drawdown Indicators

	SCHA	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-42.41%	-22.86%	-19.55%
Max Drawdown (1Y) Largest decline over 1 year	-9.50%	-10.20%	+0.70%
Max Drawdown (3Y) Largest decline over 3 years	-27.29%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.79%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.41%	—	—
Current Drawdown Current decline from peak	-2.50%	-3.70%	+1.20%
Average Drawdown Average peak-to-trough decline	-7.58%	-3.14%	-4.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	2.55%	+0.04%

Volatility

SCHA vs. QDTE - Volatility Comparison

The current volatility for Schwab U.S. Small-Cap ETF (SCHA) is 5.79%, while Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) has a volatility of 6.57%. This indicates that SCHA experiences smaller price fluctuations and is considered to be less risky than QDTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHA	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.79%	6.57%	-0.78%
Volatility (6M) Calculated over the trailing 6-month period	13.28%	12.26%	+1.02%
Volatility (1Y) Calculated over the trailing 1-year period	18.31%	15.71%	+2.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.98%	18.72%	+3.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.74%	18.72%	+4.02%

SCHA vs. QDTE - Expense Ratio Comparison

SCHA has a 0.04% expense ratio, which is lower than QDTE's 0.97% expense ratio.

Dividends

SCHA vs. QDTE - Dividend Comparison

SCHA's dividend yield for the trailing twelve months is around 1.02%, less than QDTE's 44.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	44.14%	49.49%	32.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHA Schwab U.S. Small-Cap ETF	1.02%	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 QDTE in my portfolio?

SCHA and QDTE have a correlation of 0.65, 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 QDTE?

QDTE has higher volatility (6.57%) compared to SCHA (5.79%). In terms of maximum drawdown, SCHA dropped -42.41% vs QDTE's -22.86%.

Which ETF is better, SCHA or QDTE?

On 1-year performance, SCHA leads with 36.31% vs 34.41% for QDTE. On fees, SCHA is cheaper at 0.04% per year. On volatility, SCHA has been the lower-risk option at 5.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHA or QDTE?

Over the 1-year period, SCHA has performed better with a 36.31% return vs 34.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHA or QDTE?

SCHA is cheaper with a 0.04% expense ratio, compared with 0.97% for QDTE.

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

QDTE has the higher dividend yield at 44.14%, compared with 1.02% for SCHA.

What is the main difference between SCHA and QDTE?

SCHA is categorized as Small Cap Blend Equities, while QDTE is Derivative Income. They also come from different issuers: Charles Schwab and Roundhill. Their fees differ too: 0.04% for SCHA and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.20 vs 2.00), 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.