SCHB vs. RAFE
SCHB (Schwab U.S. Broad Market ETF) and RAFE (PIMCO RAFI ESG U.S. ETF) are both Large Cap Blend Equities funds - SCHB tracks the Dow Jones U.S. Broad Stock Market Index while RAFE tracks the RAFI ESG US Index. Both are passively managed. Over the past 5 years, SCHB returned 11.79%/yr vs 11.54%/yr for RAFE. Their correlation of 0.88 means they have usually moved in the same direction. SCHB charges 0.03%/yr vs 0.30%/yr for RAFE.
Performance
SCHB vs. RAFE - Performance Comparison
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Returns By Period
In the year-to-date period, SCHB achieves a 10.58% return, which is significantly lower than RAFE's 16.68% return.
SCHB
- 1D
- 0.59%
- 1M
- -0.21%
- 6M
- 8.84%
- YTD
- 10.58%
- 1Y
- 19.74%
- 3Y*
- 18.96%
- 5Y*
- 11.79%
- 10Y*
- 14.63%
- ALL TIME*
- 14.17%
RAFE
- 1D
- -0.31%
- 1M
- 1.78%
- 6M
- 14.64%
- YTD
- 16.68%
- 1Y
- 30.35%
- 3Y*
- 18.09%
- 5Y*
- 11.54%
- 10Y*
- —
- ALL TIME*
- 12.67%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $564.44K | $467.39K | $607.84K | |
| $212.56M | $205.35M | $255.93M |
SCHB vs. RAFE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SCHB Schwab U.S. Broad Market ETF | 10.58% | 16.94% | 23.93% | 26.16% | -19.46% | 25.84% | 20.76% | 1.12% |
RAFE PIMCO RAFI ESG U.S. ETF | 16.68% | 17.60% | 13.81% | 18.80% | -13.76% | 30.16% | 5.29% | 0.43% |
Correlation
The correlation between SCHB and RAFE is 0.81, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.81 |
Correlation (3Y) Balances recent behavior with more history. | 0.87 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2019 | 0.88 |
The correlation between SCHB and RAFE has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.
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Return for Risk
SCHB vs. RAFE — Risk / Return Rank
SCHB
RAFE
SCHB vs. RAFE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Broad Market ETF (SCHB) and PIMCO RAFI ESG U.S. ETF (RAFE). 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 | RAFE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.48 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | 4.09 | -1.86 |
| Martin ratioReturn relative to average drawdown | 9.54 | 16.26 | -6.72 |
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Drawdowns
SCHB vs. RAFE - Drawdown Comparison
The maximum SCHB drawdown since its inception was -35.27%, roughly equal to the maximum RAFE drawdown of -35.74%. Use the drawdown chart below to compare losses from any high point for SCHB and RAFE.
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Drawdown Indicators
| SCHB | RAFE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.27% | -35.74% | +0.47% |
Max Drawdown (1Y)Largest decline over 1 year | -8.91% | -7.46% | -1.45% |
Max Drawdown (3Y)Largest decline over 3 years | -19.34% | -16.36% | -2.98% |
Max Drawdown (5Y)Largest decline over 5 years | -25.41% | -24.28% | -1.13% |
Max Drawdown (10Y)Largest decline over 10 years | -35.27% | — | — |
Current DrawdownCurrent decline from peak | -1.34% | -0.96% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -4.09% | -6.08% | +1.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | 1.87% | +0.21% |
Volatility
SCHB vs. RAFE - Volatility Comparison
Schwab U.S. Broad Market ETF (SCHB) has a higher volatility of 3.48% compared to PIMCO RAFI ESG U.S. ETF (RAFE) at 3.01%. This indicates that SCHB's price experiences larger fluctuations and is considered to be riskier than RAFE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHB | RAFE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.48% | 3.01% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 10.28% | 8.70% | +1.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.12% | 11.48% | +1.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.36% | 15.05% | +2.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.32% | 19.27% | -0.95% |
SCHB vs. RAFE - Expense Ratio Comparison
SCHB has a 0.03% expense ratio, which is lower than RAFE's 0.30% expense ratio.
Dividends
SCHB vs. RAFE - Dividend Comparison
SCHB's dividend yield for the trailing twelve months is around 1.04%, less than RAFE's 1.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RAFE PIMCO RAFI ESG U.S. ETF | 1.48% | 1.67% | 1.79% | 1.81% | 2.22% | 1.42% | 2.36% | 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
SCHB and RAFE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHB has higher volatility (3.48%) compared to RAFE (3.01%). In terms of maximum drawdown, SCHB dropped -35.27% vs RAFE's -35.74%.
On 5-year performance, SCHB leads with 11.79% vs 11.54% for RAFE. On fees, SCHB is cheaper at 0.03% per year. On volatility, RAFE has been the lower-risk option at 3.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SCHB has performed better with a 11.79% return vs 11.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHB is cheaper with a 0.03% expense ratio, compared with 0.30% for RAFE.
RAFE has the higher dividend yield at 1.48%, compared with 1.04% for SCHB.
SCHB tracks Dow Jones U.S. Broad Stock Market Index, while RAFE tracks RAFI ESG US Index. They also come from different issuers: Charles Schwab and PIMCO. Their fees differ too: 0.03% for SCHB and 0.30% for RAFE.
RAFE currently has the higher Sharpe Ratio (2.67 vs 1.51), 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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