SCHA vs. RB

Last updated Jul 14, 2026

SCHA (Schwab U.S. Small-Cap ETF) and RB (ProShares Russell 2000 Dynamic Daily Buffer 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 RB is a Defined Outcome fund tracking the Russell 2000. Both are passively managed. Over the past year, SCHA returned 33.94% vs 18.42% for RB. A 0.76 correlation means they provide meaningful diversification when combined. SCHA charges 0.04%/yr vs 0.58%/yr for RB.

Performance

SCHA vs. RB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Small-Cap ETF (SCHA) and ProShares Russell 2000 Dynamic Daily Buffer ETF (RB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHA achieves a 21.01% return, which is significantly higher than RB's 8.17% return.

SCHA

• 1D: -1.69%
• 1M: -1.21%
• 6M: 14.27%
• YTD: 21.01%
• 1Y: 33.94%
• 3Y*: 16.83%
• 5Y*: 8.06%
• 10Y*: 10.88%

RB

• 1D: -0.10%
• 1M: 1.15%
• 6M: 6.04%
• YTD: 8.17%
• 1Y: 18.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCHA vs. RB - Yearly Performance Comparison

	2026 (YTD)	2025
SCHA Schwab U.S. Small-Cap ETF	21.01%	15.40%
RB ProShares Russell 2000 Dynamic Daily Buffer ETF	8.17%	10.85%

Correlation

The correlation between SCHA and RB is 0.76, 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	0.76
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.76

The correlation between SCHA and RB has been stable across timeframes, ranging from 0.76 to 0.76 - a consistent structural relationship.

Return for Risk

SCHA vs. RB — Risk / Return Rank

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

SCHA

SCHA Risk / Return Rank: 74
SCHA Sharpe Ratio Rank: 70
SCHA Sortino Ratio Rank: 71
SCHA Omega Ratio Rank: 63
SCHA Calmar Ratio Rank: 83
SCHA Martin Ratio Rank: 82

RB

RB Risk / Return Rank: 96
RB Sharpe Ratio Rank: 94
RB Sortino Ratio Rank: 96
RB Omega Ratio Rank: 95
RB Calmar Ratio Rank: 97
RB Martin Ratio Rank: 96

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. RB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Small-Cap ETF (SCHA) and ProShares Russell 2000 Dynamic Daily Buffer ETF (RB). 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	RB	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.82	-1.02
Sortino ratio: Return per unit of downside risk	2.56	4.78	-2.21
Omega ratio: Gain probability vs. loss probability	1.30	1.61	-0.31
Calmar ratio: Return relative to maximum drawdown	3.59	8.85	-5.26
Martin ratio: Return relative to average drawdown	12.73	28.55	-15.81

SCHA vs. RB - Sharpe Ratio Comparison

The current SCHA Sharpe Ratio is 1.79, which is lower than the RB Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of SCHA and RB, 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. RB - Drawdown Comparison

The maximum SCHA drawdown since its inception was -42.41%, which is greater than RB's maximum drawdown of -2.09%. Use the drawdown chart below to compare losses from any high point for SCHA and RB.

Drawdown Indicators

	SCHA	RB	Difference
Max Drawdown Largest peak-to-trough decline	-42.41%	-2.09%	-40.32%
Max Drawdown (1Y) Largest decline over 1 year	-9.50%	-2.09%	-7.41%
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	-5.01%	-0.28%	-4.73%
Average Drawdown Average peak-to-trough decline	-7.54%	-0.44%	-7.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	0.65%	+2.02%

Volatility

SCHA vs. RB - Volatility Comparison

Schwab U.S. Small-Cap ETF (SCHA) has a higher volatility of 6.97% compared to ProShares Russell 2000 Dynamic Daily Buffer ETF (RB) at 1.81%. This indicates that SCHA's price experiences larger fluctuations and is considered to be riskier than RB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHA	RB	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.97%	1.81%	+5.16%
Volatility (6M) Calculated over the trailing 6-month period	14.39%	4.74%	+9.65%
Volatility (1Y) Calculated over the trailing 1-year period	19.07%	6.58%	+12.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.09%	6.49%	+15.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.74%	6.49%	+16.25%

SCHA vs. RB - Expense Ratio Comparison

SCHA has a 0.04% expense ratio, which is lower than RB's 0.58% expense ratio.

Dividends

SCHA vs. RB - Dividend Comparison

SCHA's dividend yield for the trailing twelve months is around 1.04%, less than RB's 2.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RB ProShares Russell 2000 Dynamic Daily Buffer ETF	2.26%	1.78%	0.00%	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	1.04%	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 RB in my portfolio?

SCHA and RB have a correlation of 0.76, 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 RB?

SCHA has higher volatility (6.97%) compared to RB (1.81%). In terms of maximum drawdown, SCHA dropped -42.41% vs RB's -2.09%.

Which ETF is better, SCHA or RB?

On 1-year performance, SCHA leads with 33.94% vs 18.42% for RB. On fees, SCHA is cheaper at 0.04% per year. On volatility, RB has been the lower-risk option at 1.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHA or RB?

Over the 1-year period, SCHA has performed better with a 33.94% return vs 18.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHA or RB?

SCHA is cheaper with a 0.04% expense ratio, compared with 0.58% for RB.

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

RB has the higher dividend yield at 2.26%, compared with 1.04% for SCHA.

What is the main difference between SCHA and RB?

SCHA is categorized as Small Cap Blend Equities, while RB is Defined Outcome. SCHA tracks Dow Jones U.S. Small-Cap Total Stock Market Index, while RB tracks Russell 2000. They also come from different issuers: Charles Schwab and ProShares. Their fees differ too: 0.04% for SCHA and 0.58% for RB.

Which has better risk-adjusted returns?

RB currently has the higher Sharpe Ratio (2.82 vs 1.79), 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.