SCHA vs. QQQS

Last updated Jun 24, 2026

SCHA (Schwab U.S. Small-Cap ETF) and QQQS (Invesco NASDAQ Future Gen 200 ETF) are both Small Cap Blend Equities funds - SCHA tracks the Dow Jones U.S. Small-Cap Total Stock Market Index while QQQS tracks the Nasdaq Innovators Completion Cap Total Return Index. Both are passively managed. Over the past 3 years, SCHA returned 19.85%/yr vs 16.24%/yr for QQQS. Their correlation of 0.89 suggests significant overlap in exposure. SCHA charges 0.04%/yr vs 0.20%/yr for QQQS.

Performance

SCHA vs. QQQS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Small-Cap ETF (SCHA) and Invesco NASDAQ Future Gen 200 ETF (QQQS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SCHA having a 22.53% return and QQQS slightly higher at 23.57%.

SCHA

• 1D: -1.72%
• 1M: 4.56%
• YTD: 22.53%
• 6M: 20.00%
• 1Y: 41.81%
• 3Y*: 19.85%
• 5Y*: 7.30%
• 10Y*: 11.72%

QQQS

• 1D: -0.53%
• 1M: -1.53%
• YTD: 23.57%
• 6M: 22.90%
• 1Y: 69.46%
• 3Y*: 16.24%
• 5Y*: —
• 10Y*: —

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

SCHA vs. QQQS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SCHA Schwab U.S. Small-Cap ETF	22.53%	11.60%	11.16%	18.46%	6.11%
QQQS Invesco NASDAQ Future Gen 200 ETF	23.57%	23.03%	10.20%	-1.94%	11.47%

Correlation

The correlation between SCHA and QQQS is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (All Time) Calculated using the full available price history since Oct 13, 2022	0.89

The correlation between SCHA and QQQS has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

SCHA vs. QQQS - Sectors Allocation Comparison

Sectors	SCHA	QQQS
Technology	24.3%	42.3%
Financial Services	15.4%	0.1%
Industrials	15.4%	4.7%
Healthcare	13.8%	40.9%
Consumer Cyclical	9.2%	5.3%
Real Estate	5.8%	-
Energy	4.8%	2.0%
Basic Materials	4.1%	1.0%
Consumer Defensive	2.5%	1.6%
Communication Services	2.3%	2.1%
Utilities	2.1%	-

Return for Risk

SCHA vs. QQQS — Risk / Return Rank

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

SCHA

SCHA Risk / Return Rank: 75
SCHA Sharpe Ratio Rank: 73
SCHA Sortino Ratio Rank: 72
SCHA Omega Ratio Rank: 64
SCHA Calmar Ratio Rank: 84
SCHA Martin Ratio Rank: 83

QQQS

QQQS Risk / Return Rank: 80
QQQS Sharpe Ratio Rank: 83
QQQS Sortino Ratio Rank: 77
QQQS Omega Ratio Rank: 68
QQQS Calmar Ratio Rank: 89
QQQS Martin Ratio Rank: 83

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. QQQS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Small-Cap ETF (SCHA) and Invesco NASDAQ Future Gen 200 ETF (QQQS). 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.

	SCHA	QQQS	Difference
Sharpe ratio: Return per unit of total volatility	2.24	2.53	-0.29
Sortino ratio: Return per unit of downside risk	3.11	3.20	-0.09
Omega ratio: Gain probability vs. loss probability	1.37	1.38	-0.01
Calmar ratio: Return relative to maximum drawdown	4.42	5.12	-0.70
Martin ratio: Return relative to average drawdown	16.18	16.22	-0.04

SCHA vs. QQQS - Sharpe Ratio Comparison

The current SCHA Sharpe Ratio is 2.24, which is comparable to the QQQS Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of SCHA and QQQS, 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

SCHA vs. QQQS - Drawdown Comparison

The maximum SCHA drawdown since its inception was -42.41%, which is greater than QQQS's maximum drawdown of -38.06%. Use the drawdown chart below to compare losses from any high point for SCHA and QQQS.

Drawdown Indicators

	SCHA	QQQS	Difference
Max Drawdown Largest peak-to-trough decline	-42.41%	-38.06%	-4.35%
Max Drawdown (1Y) Largest decline over 1 year	-9.50%	-13.63%	+4.13%
Max Drawdown (3Y) Largest decline over 3 years	-27.29%	-34.32%	+7.03%
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	-1.72%	-5.38%	+3.66%
Average Drawdown Average peak-to-trough decline	-7.56%	-13.15%	+5.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	4.30%	-1.71%

Volatility

SCHA vs. QQQS - Volatility Comparison

The current volatility for Schwab U.S. Small-Cap ETF (SCHA) is 6.71%, while Invesco NASDAQ Future Gen 200 ETF (QQQS) has a volatility of 9.87%. This indicates that SCHA experiences smaller price fluctuations and is considered to be less risky than QQQS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHA	QQQS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.71%	9.87%	-3.16%
Volatility (6M) Calculated over the trailing 6-month period	13.92%	19.96%	-6.04%
Volatility (1Y) Calculated over the trailing 1-year period	18.77%	27.61%	-8.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.05%	28.59%	-6.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.75%	28.59%	-5.84%

SCHA vs. QQQS - Expense Ratio Comparison

SCHA has a 0.04% expense ratio, which is lower than QQQS's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SCHA vs. QQQS - Dividend Comparison

SCHA's dividend yield for the trailing twelve months is around 0.98%, less than QQQS's 2.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQS Invesco NASDAQ Future Gen 200 ETF	2.67%	3.48%	0.80%	0.68%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHA Schwab U.S. Small-Cap ETF	0.98%	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 QQQS in my portfolio?

SCHA and QQQS have a correlation of 0.90, 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 QQQS?

QQQS has higher volatility (9.87%) compared to SCHA (6.71%). In terms of maximum drawdown, SCHA dropped -42.41% vs QQQS's -38.06%.

Which ETF is better, SCHA or QQQS?

On 3-year performance, SCHA leads with 19.85% vs 16.24% for QQQS. On fees, SCHA is cheaper at 0.04% per year. On volatility, SCHA has been the lower-risk option at 6.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHA or QQQS?

Over the 3-year period, SCHA has performed better with a 19.85% return vs 16.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHA or QQQS?

SCHA is cheaper with a 0.04% expense ratio, compared with 0.20% for QQQS.

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

QQQS has the higher dividend yield at 2.67%, compared with 0.98% for SCHA.

What is the main difference between SCHA and QQQS?

SCHA tracks Dow Jones U.S. Small-Cap Total Stock Market Index, while QQQS tracks Nasdaq Innovators Completion Cap Total Return Index. They also come from different issuers: Charles Schwab and Invesco. Their fees differ too: 0.04% for SCHA and 0.20% for QQQS.

Which has better risk-adjusted returns?

QQQS currently has the higher Sharpe Ratio (2.53 vs 2.24), 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.