SCHB vs. SPYG

Last updated Jun 9, 2026

SCHB (Schwab U.S. Broad Market ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - SCHB is a Large Cap Blend Equities fund tracking the Dow Jones U.S. Broad Stock Market Index, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. Both are passively managed. Over the past 10 years, SCHB returned 14.83%/yr vs 17.86%/yr for SPYG. Their correlation of 0.94 suggests significant overlap in exposure. SCHB charges 0.03%/yr vs 0.04%/yr for SPYG.

Performance

SCHB vs. SPYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Broad Market ETF (SCHB) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHB achieves a 9.14% return, which is significantly lower than SPYG's 10.10% return. Over the past 10 years, SCHB has underperformed SPYG with an annualized return of 14.83%, while SPYG has yielded a comparatively higher 17.86% annualized return.

SCHB

• 1D: 0.35%
• 1M: 0.46%
• YTD: 9.14%
• 6M: 9.03%
• 1Y: 24.95%
• 3Y*: 21.09%
• 5Y*: 12.31%
• 10Y*: 14.83%

SPYG

• 1D: 0.66%
• 1M: -0.20%
• YTD: 10.10%
• 6M: 9.48%
• 1Y: 29.04%
• 3Y*: 26.72%
• 5Y*: 15.25%
• 10Y*: 17.86%

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

SCHB vs. SPYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHB Schwab U.S. Broad Market ETF	9.14%	16.94%	23.93%	26.16%	-19.46%	25.84%	20.76%	30.79%	-5.43%	21.20%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	10.10%	22.09%	35.99%	30.02%	-29.41%	32.01%	33.46%	30.84%	-0.12%	27.24%

Correlation

The correlation between SCHB and SPYG is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Nov 4, 2009	0.94

The correlation between SCHB and SPYG has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

SCHB vs. SPYG - Sectors Allocation Comparison

Sectors	SCHB	SPYG
Technology	34.4%	52.2%
Financial Services	12.2%	8.3%
Consumer Cyclical	10.1%	8.9%
Communication Services	10.1%	16.7%
Industrials	9.4%	5.0%
Healthcare	8.9%	5.8%
Consumer Defensive	4.6%	1.0%
Energy	3.7%	0.1%
Real Estate	2.4%	0.5%
Utilities	2.3%	1.1%
Basic Materials	2.0%	0.3%

Return for Risk

SCHB vs. SPYG — Risk / Return Rank

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

SCHB

SCHB Risk / Return Rank: 68
SCHB Sharpe Ratio Rank: 68
SCHB Sortino Ratio Rank: 66
SCHB Omega Ratio Rank: 68
SCHB Calmar Ratio Rank: 62
SCHB Martin Ratio Rank: 75

SPYG

SPYG Risk / Return Rank: 54
SPYG Sharpe Ratio Rank: 58
SPYG Sortino Ratio Rank: 55
SPYG Omega Ratio Rank: 55
SPYG Calmar Ratio Rank: 47
SPYG Martin Ratio Rank: 55

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. SPYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Broad Market ETF (SCHB) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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.

	SCHB	SPYG	Difference
Sharpe ratio: Return per unit of total volatility	2.02	1.77	+0.25
Sortino ratio: Return per unit of downside risk	2.73	2.40	+0.33
Omega ratio: Gain probability vs. loss probability	1.37	1.31	+0.05
Calmar ratio: Return relative to maximum drawdown	2.81	2.12	+0.69
Martin ratio: Return relative to average drawdown	12.80	8.70	+4.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCHB vs. SPYG - Sharpe Ratio Comparison

The current SCHB Sharpe Ratio is 2.02, which is comparable to the SPYG Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of SCHB and SPYG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SCHB	SPYG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	1.77	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.72	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.87	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.35	+0.48

Drawdowns

SCHB vs. SPYG - Drawdown Comparison

The maximum SCHB drawdown since its inception was -35.27%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for SCHB and SPYG.

Drawdown Indicators

	SCHB	SPYG	Difference
Max Drawdown Largest peak-to-trough decline	-35.27%	-67.63%	+32.36%
Max Drawdown (1Y) Largest decline over 1 year	-8.91%	-13.76%	+4.85%
Max Drawdown (3Y) Largest decline over 3 years	-19.34%	-22.14%	+2.80%
Max Drawdown (5Y) Largest decline over 5 years	-25.41%	-32.67%	+7.26%
Max Drawdown (10Y) Largest decline over 10 years	-35.27%	-32.67%	-2.60%
Current Drawdown Current decline from peak	-2.63%	-4.31%	+1.68%
Average Drawdown Average peak-to-trough decline	-4.11%	-24.32%	+20.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	3.35%	-1.40%

Volatility

SCHB vs. SPYG - Volatility Comparison

The current volatility for Schwab U.S. Broad Market ETF (SCHB) is 3.93%, while State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a volatility of 5.67%. This indicates that SCHB experiences smaller price fluctuations and is considered to be less risky than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHB	SPYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.93%	5.67%	-1.74%
Volatility (6M) Calculated over the trailing 6-month period	9.57%	13.10%	-3.53%
Volatility (1Y) Calculated over the trailing 1-year period	12.41%	16.53%	-4.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.28%	21.24%	-3.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.34%	20.69%	-2.35%

SCHB vs. SPYG - Expense Ratio Comparison

SCHB has a 0.03% expense ratio, which is lower than SPYG's 0.04% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SCHB vs. SPYG - Dividend Comparison

SCHB's dividend yield for the trailing twelve months is around 1.04%, more than SPYG's 0.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	0.48%	0.52%	0.60%	1.15%	1.03%	0.62%	0.90%	1.37%	1.51%	1.41%	1.55%	1.57%

Frequently Asked Questions

Can I hold both SCHB and SPYG in my portfolio?

With a correlation of 0.91, SCHB and SPYG 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.

Which is riskier, SCHB or SPYG?

SPYG has higher volatility (5.67%) compared to SCHB (3.93%). In terms of maximum drawdown, SCHB dropped -35.27% vs SPYG's -67.63%.

Which ETF is better, SCHB or SPYG?

On 10-year performance, SPYG leads with 17.86% vs 14.83% for SCHB. On fees, SCHB is cheaper at 0.03% per year. On volatility, SCHB has been the lower-risk option at 3.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHB or SPYG?

Over the 10-year period, SPYG has performed better with a 17.86% return vs 14.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHB or SPYG?

SCHB is cheaper with a 0.03% expense ratio, compared with 0.04% for SPYG.

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

SCHB has the higher dividend yield at 1.04%, compared with 0.48% for SPYG.

What is the main difference between SCHB and SPYG?

SCHB is categorized as Large Cap Blend Equities, while SPYG is S&P 500. SCHB tracks Dow Jones U.S. Broad Stock Market Index, while SPYG tracks S&P 500 Growth Index. They also come from different issuers: Charles Schwab and State Street. Their fees differ too: 0.03% for SCHB and 0.04% for SPYG.

Which has better risk-adjusted returns?

SCHB currently has the higher Sharpe Ratio (2.02 vs 1.77), 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.