SCHA vs. SPYV

Last updated Jul 22, 2026

SCHA (Schwab U.S. Small-Cap ETF) and SPYV (SPDR Portfolio S&P 500 Value 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 SPYV is a S&P 500 fund tracking the S&P 500 Value Index. Both are passively managed. Over the past 10 years, SCHA returned 10.91%/yr vs 11.67%/yr for SPYV. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.04% expense ratio.

Performance

SCHA vs. SPYV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Small-Cap ETF (SCHA) and SPDR Portfolio S&P 500 Value ETF (SPYV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHA achieves a 22.07% return, which is significantly higher than SPYV's 9.57% return. Over the past 10 years, SCHA has underperformed SPYV with an annualized return of 10.91%, while SPYV has yielded a comparatively higher 11.67% annualized return.

SCHA

• 1D: 2.21%
• 1M: -1.34%
• 6M: 15.12%
• YTD: 22.07%
• 1Y: 34.95%
• 3Y*: 16.78%
• 5Y*: 8.24%
• 10Y*: 10.91%
• ALL TIME*: 12.59%

SPYV

• 1D: 0.36%
• 1M: 1.88%
• 6M: 8.74%
• YTD: 9.57%
• 1Y: 18.91%
• 3Y*: 13.89%
• 5Y*: 11.66%
• 10Y*: 11.67%
• ALL TIME*: 7.85%

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

SCHA vs. SPYV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHA Schwab U.S. Small-Cap ETF	22.07%	11.60%	11.16%	18.46%	-19.81%	16.45%	19.34%	26.50%	-11.79%	14.94%
SPYV SPDR Portfolio S&P 500 Value ETF	9.57%	13.18%	12.24%	22.20%	-5.28%	24.91%	1.38%	31.70%	-9.01%	15.40%

Correlation

The correlation between SCHA and SPYV is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Nov 3, 2009	0.83

The correlation between SCHA and SPYV shifts across timeframes, from 0.72 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.

SCHA vs. SPYV - Sectors Allocation Comparison

Sectors	SCHA	SPYV
Technology	22.4%	21.7%
Healthcare	15.7%	12.2%
Financial Services	15.6%	15.1%
Industrials	14.7%	10.9%
Consumer Cyclical	9.5%	10.6%
Real Estate	6.2%	3.3%
Energy	4.7%	6.6%
Basic Materials	3.9%	3.3%
Communication Services	2.5%	2.9%
Consumer Defensive	2.3%	8.8%
Utilities	2.3%	4.5%

Return for Risk

SCHA vs. SPYV — Risk / Return Rank

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

SCHA

SCHA Risk / Return Rank: 80
SCHA Sharpe Ratio Rank: 78
SCHA Sortino Ratio Rank: 78
SCHA Omega Ratio Rank: 71
SCHA Calmar Ratio Rank: 87
SCHA Martin Ratio Rank: 85

SPYV

SPYV Risk / Return Rank: 80
SPYV Sharpe Ratio Rank: 80
SPYV Sortino Ratio Rank: 80
SPYV Omega Ratio Rank: 78
SPYV Calmar Ratio Rank: 79
SPYV Martin Ratio Rank: 82

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. SPYV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Small-Cap ETF (SCHA) and SPDR Portfolio S&P 500 Value ETF (SPYV). 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	SPYV	Difference
Sharpe ratio: Return per unit of total volatility	1.84	1.92	-0.07
Sortino ratio: Return per unit of downside risk	2.64	2.70	-0.05
Omega ratio: Gain probability vs. loss probability	1.31	1.35	-0.03
Calmar ratio: Return relative to maximum drawdown	3.69	3.05	+0.64
Martin ratio: Return relative to average drawdown	12.60	11.60	+1.00

SCHA vs. SPYV - Sharpe Ratio Comparison

The current SCHA Sharpe Ratio is 1.84, which is comparable to the SPYV Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of SCHA and SPYV, 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. SPYV - Drawdown Comparison

The maximum SCHA drawdown since its inception was -42.41%, smaller than the maximum SPYV drawdown of -58.45%. Use the drawdown chart below to compare losses from any high point for SCHA and SPYV.

Drawdown Indicators

	SCHA	SPYV	Difference
Max Drawdown Largest peak-to-trough decline	-42.41%	-58.45%	+16.04%
Max Drawdown (1Y) Largest decline over 1 year	-9.50%	-6.22%	-3.28%
Max Drawdown (3Y) Largest decline over 3 years	-27.29%	-17.54%	-9.75%
Max Drawdown (5Y) Largest decline over 5 years	-30.79%	-17.89%	-12.90%
Max Drawdown (10Y) Largest decline over 10 years	-42.41%	-36.89%	-5.52%
Current Drawdown Current decline from peak	-4.18%	-0.80%	-3.38%
Average Drawdown Average peak-to-trough decline	-7.54%	-8.68%	+1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	1.63%	+1.15%

Volatility

SCHA vs. SPYV - Volatility Comparison

Schwab U.S. Small-Cap ETF (SCHA) has a higher volatility of 5.84% compared to SPDR Portfolio S&P 500 Value ETF (SPYV) at 2.12%. This indicates that SCHA's price experiences larger fluctuations and is considered to be riskier than SPYV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHA	SPYV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.84%	2.12%	+3.72%
Volatility (6M) Calculated over the trailing 6-month period	14.56%	7.28%	+7.28%
Volatility (1Y) Calculated over the trailing 1-year period	19.05%	9.91%	+9.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.03%	14.30%	+7.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.75%	16.88%	+5.87%

SCHA vs. SPYV - Expense Ratio Comparison

Both SCHA and SPYV have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SCHA vs. SPYV - Dividend Comparison

SCHA's dividend yield for the trailing twelve months is around 1.03%, less than SPYV's 1.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHA Schwab U.S. Small-Cap ETF	1.03%	1.26%	1.51%	1.42%	1.37%	1.19%	1.05%	1.39%	1.58%	1.24%	1.50%	1.48%
SPYV SPDR Portfolio S&P 500 Value ETF	1.69%	1.77%	2.29%	1.75%	2.22%	2.10%	2.38%	2.25%	2.97%	2.77%	2.39%	2.53%

Frequently Asked Questions

Can I hold both SCHA and SPYV in my portfolio?

SCHA and SPYV have a correlation of 0.72, 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 SPYV?

SCHA has higher volatility (5.84%) compared to SPYV (2.12%). In terms of maximum drawdown, SCHA dropped -42.41% vs SPYV's -58.45%.

Which ETF is better, SCHA or SPYV?

On 10-year performance, SPYV leads with 11.67% vs 10.91% for SCHA. Both ETFs have the same 0.04% expense ratio. On volatility, SPYV has been the lower-risk option at 2.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHA or SPYV?

Over the 10-year period, SPYV has performed better with a 11.67% return vs 10.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHA or SPYV?

SCHA and SPYV have the same expense ratio: 0.04% per year.

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

SPYV has the higher dividend yield at 1.69%, compared with 1.03% for SCHA.

What is the main difference between SCHA and SPYV?

SCHA is categorized as Small Cap Blend Equities, while SPYV is S&P 500. SCHA tracks Dow Jones U.S. Small-Cap Total Stock Market Index, while SPYV tracks S&P 500 Value Index. They also come from different issuers: Charles Schwab and State Street.

Which has better risk-adjusted returns?

SPYV currently has the higher Sharpe Ratio (1.92 vs 1.84), 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.