SCHB vs. AFOS

Last updated Jul 17, 2026

SCHB (Schwab U.S. Broad Market ETF) and AFOS (ARS Focused Opportunities Strategy ETF) are both Large Cap Blend Equities funds. Over the past year, SCHB returned 21.89% vs 67.10% for AFOS. Their correlation of 0.83 suggests significant overlap in exposure. SCHB charges 0.03%/yr vs 0.45%/yr for AFOS.

Performance

SCHB vs. AFOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Broad Market ETF (SCHB) and ARS Focused Opportunities Strategy ETF (AFOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHB achieves a 11.27% return, which is significantly lower than AFOS's 27.19% return.

SCHB

• 1D: -0.45%
• 1M: 0.37%
• 6M: 9.11%
• YTD: 11.27%
• 1Y: 21.89%
• 3Y*: 19.71%
• 5Y*: 12.36%
• 10Y*: 14.65%

AFOS

• 1D: -2.05%
• 1M: -4.38%
• 6M: 18.66%
• YTD: 27.19%
• 1Y: 67.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCHB vs. AFOS - Yearly Performance Comparison

	2026 (YTD)	2025
SCHB Schwab U.S. Broad Market ETF	11.27%	12.82%
AFOS ARS Focused Opportunities Strategy ETF	27.19%	37.10%

Correlation

The correlation between SCHB and AFOS is 0.84, 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	0.84
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.83

The correlation between SCHB and AFOS has been stable across timeframes, ranging from 0.83 to 0.84 - a consistent structural relationship.

Return for Risk

SCHB vs. AFOS — Risk / Return Rank

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

SCHB

SCHB Risk / Return Rank: 65
SCHB Sharpe Ratio Rank: 65
SCHB Sortino Ratio Rank: 63
SCHB Omega Ratio Rank: 64
SCHB Calmar Ratio Rank: 61
SCHB Martin Ratio Rank: 73

AFOS

AFOS Risk / Return Rank: 94
AFOS Sharpe Ratio Rank: 95
AFOS Sortino Ratio Rank: 93
AFOS Omega Ratio Rank: 92
AFOS Calmar Ratio Rank: 95
AFOS 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.

SCHB vs. AFOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Broad Market ETF (SCHB) and ARS Focused Opportunities Strategy ETF (AFOS). 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.

	SCHB	AFOS	Difference
Sharpe ratio: Return per unit of total volatility	1.71	3.03	-1.32
Sortino ratio: Return per unit of downside risk	2.37	3.72	-1.35
Omega ratio: Gain probability vs. loss probability	1.31	1.49	-0.18
Calmar ratio: Return relative to maximum drawdown	2.47	5.86	-3.39
Martin ratio: Return relative to average drawdown	10.75	24.92	-14.17

SCHB vs. AFOS - Sharpe Ratio Comparison

The current SCHB Sharpe Ratio is 1.71, which is lower than the AFOS Sharpe Ratio of 3.03. The chart below compares the historical Sharpe Ratios of SCHB and AFOS, 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

SCHB vs. AFOS - Drawdown Comparison

The maximum SCHB drawdown since its inception was -35.27%, which is greater than AFOS's maximum drawdown of -11.52%. Use the drawdown chart below to compare losses from any high point for SCHB and AFOS.

Drawdown Indicators

	SCHB	AFOS	Difference
Max Drawdown Largest peak-to-trough decline	-35.27%	-11.52%	-23.75%
Max Drawdown (1Y) Largest decline over 1 year	-8.91%	-11.52%	+2.61%
Max Drawdown (3Y) Largest decline over 3 years	-19.34%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.41%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.27%	—	—
Current Drawdown Current decline from peak	-0.73%	-7.02%	+6.29%
Average Drawdown Average peak-to-trough decline	-4.10%	-1.58%	-2.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.70%	-0.66%

Volatility

SCHB vs. AFOS - Volatility Comparison

The current volatility for Schwab U.S. Broad Market ETF (SCHB) is 3.32%, while ARS Focused Opportunities Strategy ETF (AFOS) has a volatility of 7.83%. This indicates that SCHB experiences smaller price fluctuations and is considered to be less risky than AFOS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHB	AFOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	7.83%	-4.51%
Volatility (6M) Calculated over the trailing 6-month period	10.17%	18.52%	-8.35%
Volatility (1Y) Calculated over the trailing 1-year period	12.83%	22.26%	-9.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.35%	21.80%	-4.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.30%	21.80%	-3.50%

SCHB vs. AFOS - Expense Ratio Comparison

SCHB has a 0.03% expense ratio, which is lower than AFOS's 0.45% expense ratio.

Dividends

SCHB vs. AFOS - Dividend Comparison

SCHB's dividend yield for the trailing twelve months is around 1.04%, more than AFOS's 0.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFOS ARS Focused Opportunities Strategy ETF	0.23%	0.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHB Schwab U.S. Broad Market ETF	1.04%	1.11%	1.24%	1.40%	1.61%	1.21%	1.63%	1.80%	2.00%	1.65%	1.86%	2.00%

Frequently Asked Questions

Can I hold both SCHB and AFOS in my portfolio?

SCHB and AFOS have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHB or AFOS?

AFOS has higher volatility (7.83%) compared to SCHB (3.32%). In terms of maximum drawdown, SCHB dropped -35.27% vs AFOS's -11.52%.

Which ETF is better, SCHB or AFOS?

On 1-year performance, AFOS leads with 67.10% vs 21.89% for SCHB. On fees, SCHB is cheaper at 0.03% per year. On volatility, SCHB has been the lower-risk option at 3.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHB or AFOS?

Over the 1-year period, AFOS has performed better with a 67.10% return vs 21.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHB or AFOS?

SCHB is cheaper with a 0.03% expense ratio, compared with 0.45% for AFOS.

Which ETF pays a higher dividend yield, SCHB or AFOS?

SCHB has the higher dividend yield at 1.04%, compared with 0.23% for AFOS.

What is the main difference between SCHB and AFOS?

They also come from different issuers: Charles Schwab and ARS Investment Partners. Their fees differ too: 0.03% for SCHB and 0.45% for AFOS.

Which has better risk-adjusted returns?

AFOS currently has the higher Sharpe Ratio (3.03 vs 1.71), 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.