SCHA vs. SCHZ
SCHA (Schwab U.S. Small-Cap ETF) and SCHZ (Schwab U.S. Aggregate Bond 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 SCHZ is a Total Bond Market fund tracking the Bloomberg US Aggregate Bond Index. Both are passively managed. Over the past 10 years, SCHA returned 11.55%/yr vs 1.50%/yr for SCHZ. At a correlation of -0.05, they often move in opposite directions. SCHA charges 0.04%/yr vs 0.03%/yr for SCHZ.
Performance
SCHA vs. SCHZ - Performance Comparison
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Returns By Period
In the year-to-date period, SCHA achieves a 22.49% return, which is significantly higher than SCHZ's 0.51% return. Over the past 10 years, SCHA has outperformed SCHZ with an annualized return of 11.55%, while SCHZ has yielded a comparatively lower 1.50% annualized return.
SCHA
- 1D
- 1.16%
- 1M
- 5.10%
- YTD
- 22.49%
- 6M
- 19.84%
- 1Y
- 43.96%
- 3Y*
- 18.37%
- 5Y*
- 7.19%
- 10Y*
- 11.55%
SCHZ
- 1D
- -0.13%
- 1M
- 0.48%
- YTD
- 0.51%
- 6M
- 0.93%
- 1Y
- 4.88%
- 3Y*
- 4.17%
- 5Y*
- 0.02%
- 10Y*
- 1.50%
SCHA vs. SCHZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCHA Schwab U.S. Small-Cap ETF | 22.49% | 11.60% | 11.16% | 18.46% | -19.81% | 16.45% | 19.34% | 26.50% | -11.79% | 14.94% |
SCHZ Schwab U.S. Aggregate Bond ETF | 0.51% | 7.24% | 1.26% | 5.60% | -13.17% | -1.72% | 7.46% | 8.65% | -0.26% | 3.50% |
Correlation
The correlation between SCHA and SCHZ is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2011 | -0.05 |
The correlation between SCHA and SCHZ shifts across timeframes, from -0.05 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SCHA vs. SCHZ — Risk / Return Rank
SCHA
SCHZ
SCHA vs. SCHZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Small-Cap ETF (SCHA) and Schwab U.S. Aggregate Bond ETF (SCHZ). 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 | SCHZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.04 | ||
| Sortino ratioReturn per unit of downside risk | +1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.21 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 4.38 | 1.66 | +2.72 |
| Martin ratioReturn relative to average drawdown | 16.08 | 4.89 | +11.19 |
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Drawdowns
SCHA vs. SCHZ - Drawdown Comparison
The maximum SCHA drawdown since its inception was -42.41%, which is greater than SCHZ's maximum drawdown of -18.74%. Use the drawdown chart below to compare losses from any high point for SCHA and SCHZ.
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Drawdown Indicators
| SCHA | SCHZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.41% | -18.74% | -23.67% |
Max Drawdown (1Y)Largest decline over 1 year | -9.50% | -2.70% | -6.80% |
Max Drawdown (3Y)Largest decline over 3 years | -27.29% | -6.18% | -21.11% |
Max Drawdown (5Y)Largest decline over 5 years | -30.79% | -18.01% | -12.78% |
Max Drawdown (10Y)Largest decline over 10 years | -42.41% | -18.74% | -23.67% |
Current DrawdownCurrent decline from peak | 0.00% | -2.26% | +2.26% |
Average DrawdownAverage peak-to-trough decline | -7.57% | -3.68% | -3.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 0.92% | +1.67% |
Volatility
SCHA vs. SCHZ - Volatility Comparison
Schwab U.S. Small-Cap ETF (SCHA) has a higher volatility of 6.62% compared to Schwab U.S. Aggregate Bond ETF (SCHZ) at 1.34%. This indicates that SCHA's price experiences larger fluctuations and is considered to be riskier than SCHZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHA | SCHZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.62% | 1.34% | +5.28% |
Volatility (6M)Calculated over the trailing 6-month period | 13.67% | 2.76% | +10.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.62% | 3.77% | +14.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.03% | 6.09% | +15.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.75% | 5.42% | +17.33% |
SCHA vs. SCHZ - Expense Ratio Comparison
SCHA has a 0.04% expense ratio, which is higher than SCHZ's 0.03% expense ratio. However, 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. SCHZ - Dividend Comparison
SCHA's dividend yield for the trailing twelve months is around 0.98%, less than SCHZ's 4.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SCHZ Schwab U.S. Aggregate Bond ETF | 4.11% | 4.05% | 3.96% | 3.28% | 2.63% | 2.16% | 2.43% | 2.79% | 2.56% | 2.40% | 2.24% | 2.11% |
Frequently Asked Questions
SCHA and SCHZ have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHA has higher volatility (6.62%) compared to SCHZ (1.34%). In terms of maximum drawdown, SCHA dropped -42.41% vs SCHZ's -18.74%.
On 10-year performance, SCHA leads with 11.55% vs 1.50% for SCHZ. On fees, SCHZ is cheaper at 0.03% per year. On volatility, SCHZ has been the lower-risk option at 1.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHA has performed better with a 11.55% return vs 1.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHZ is cheaper with a 0.03% expense ratio, compared with 0.04% for SCHA.
SCHZ has the higher dividend yield at 4.11%, compared with 0.98% for SCHA.
SCHA is categorized as Small Cap Blend Equities, while SCHZ is Total Bond Market. SCHA tracks Dow Jones U.S. Small-Cap Total Stock Market Index, while SCHZ tracks Bloomberg US Aggregate Bond Index. Their fees differ too: 0.04% for SCHA and 0.03% for SCHZ.
SCHA currently has the higher Sharpe Ratio (2.24 vs 1.19), 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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