SCHA vs. SWSCX
SCHA (Schwab U.S. Small-Cap ETF) and SWSCX (Schwab Small-Cap Equity Fund™) are both Small Cap Blend Equities funds from Charles Schwab. Over the past 10 years, SCHA returned 11.72%/yr vs 11.36%/yr for SWSCX. With a 0.98 correlation, they move nearly in lockstep. SCHA charges 0.04%/yr vs 1.08%/yr for SWSCX.
Performance
SCHA vs. SWSCX - Performance Comparison
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Returns By Period
In the year-to-date period, SCHA achieves a 22.53% return, which is significantly lower than SWSCX's 23.77% return. Both investments have delivered pretty close results over the past 10 years, with SCHA having a 11.72% annualized return and SWSCX not far behind at 11.36%.
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%
SWSCX
- 1D
- 1.03%
- 1M
- 6.54%
- YTD
- 23.77%
- 6M
- 21.12%
- 1Y
- 36.39%
- 3Y*
- 17.88%
- 5Y*
- 9.29%
- 10Y*
- 11.36%
SCHA vs. SWSCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCHA Schwab U.S. Small-Cap ETF | 22.53% | 11.60% | 11.16% | 18.46% | -19.81% | 16.45% | 19.34% | 26.50% | -11.79% | 14.94% |
SWSCX Schwab Small-Cap Equity Fund™ | 23.77% | 5.66% | 9.89% | 19.90% | -14.12% | 29.29% | 7.63% | 17.89% | -12.47% | 10.04% |
Correlation
The correlation between SCHA and SWSCX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2009 | 0.98 |
The correlation between SCHA and SWSCX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
SCHA vs. SWSCX — Risk / Return Rank
SCHA
SWSCX
SCHA vs. SWSCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Small-Cap ETF (SCHA) and Schwab Small-Cap Equity Fund™ (SWSCX). 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 | SWSCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.32 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.42 | 3.00 | +1.41 |
| Martin ratioReturn relative to average drawdown | 16.18 | 8.31 | +7.87 |
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Drawdowns
SCHA vs. SWSCX - Drawdown Comparison
The maximum SCHA drawdown since its inception was -42.41%, smaller than the maximum SWSCX drawdown of -63.30%. Use the drawdown chart below to compare losses from any high point for SCHA and SWSCX.
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Drawdown Indicators
| SCHA | SWSCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.41% | -63.30% | +20.89% |
Max Drawdown (1Y)Largest decline over 1 year | -9.50% | -12.75% | +3.25% |
Max Drawdown (3Y)Largest decline over 3 years | -27.29% | -27.35% | +0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -30.79% | -27.35% | -3.44% |
Max Drawdown (10Y)Largest decline over 10 years | -42.41% | -49.32% | +6.91% |
Current DrawdownCurrent decline from peak | -1.72% | 0.00% | -1.72% |
Average DrawdownAverage peak-to-trough decline | -7.56% | -10.58% | +3.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 4.59% | -2.00% |
Volatility
SCHA vs. SWSCX - Volatility Comparison
Schwab U.S. Small-Cap ETF (SCHA) has a higher volatility of 6.71% compared to Schwab Small-Cap Equity Fund™ (SWSCX) at 6.21%. This indicates that SCHA's price experiences larger fluctuations and is considered to be riskier than SWSCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHA | SWSCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.71% | 6.21% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 13.92% | 14.08% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.77% | 21.47% | -2.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.05% | 22.54% | -0.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.75% | 23.64% | -0.89% |
SCHA vs. SWSCX - Expense Ratio Comparison
SCHA has a 0.04% expense ratio, which is lower than SWSCX's 1.08% expense ratio.
Dividends
SCHA vs. SWSCX - Dividend Comparison
SCHA's dividend yield for the trailing twelve months is around 0.98%, while SWSCX has not paid dividends to shareholders.
| 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% |
SWSCX Schwab Small-Cap Equity Fund™ | 0.00% | 0.00% | 14.10% | 0.36% | 10.14% | 12.07% | 0.19% | 0.11% | 26.16% | 14.46% | 0.41% | 14.47% |
Frequently Asked Questions
With a correlation of 0.96, SCHA and SWSCX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SCHA has higher volatility (6.71%) compared to SWSCX (6.21%). In terms of maximum drawdown, SCHA dropped -42.41% vs SWSCX's -63.30%.
SCHA currently has the higher Sharpe Ratio (2.24 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.
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