SCHB vs. SPYM

Last updated Jun 5, 2026

SCHB (Schwab U.S. Broad Market ETF) and SPYM (State Street SPDR Portfolio S&P 500 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 SPYM is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SCHB returned 15.02%/yr vs 15.57%/yr for SPYM. Their correlation of 0.90 suggests significant overlap in exposure. SCHB charges 0.03%/yr vs 0.02%/yr for SPYM.

Performance

SCHB vs. SPYM - 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 ETF (SPYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SCHB having a 11.78% return and SPYM slightly lower at 11.36%. Both investments have delivered pretty close results over the past 10 years, with SCHB having a 15.02% annualized return and SPYM not far ahead at 15.57%.

SCHB

• 1D: 0.45%
• 1M: 4.65%
• YTD: 11.78%
• 6M: 11.45%
• 1Y: 28.80%
• 3Y*: 22.39%
• 5Y*: 12.86%
• 10Y*: 15.02%

SPYM

• 1D: 0.34%
• 1M: 4.60%
• YTD: 11.36%
• 6M: 11.25%
• 1Y: 28.60%
• 3Y*: 22.67%
• 5Y*: 13.99%
• 10Y*: 15.57%

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

SCHB vs. SPYM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHB Schwab U.S. Broad Market ETF	11.78%	16.94%	23.93%	26.16%	-19.46%	25.84%	20.76%	30.79%	-5.43%	21.20%
SPYM State Street SPDR Portfolio S&P 500 ETF	11.36%	17.79%	25.00%	26.24%	-18.09%	28.78%	18.49%	31.99%	-4.78%	21.30%

Correlation

The correlation between SCHB and SPYM is 0.99 - 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	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Nov 4, 2009	0.90

The correlation between SCHB and SPYM has been stable across timeframes, ranging from 0.90 to 0.99 - a consistent structural relationship.

SCHB vs. SPYM - Sectors Allocation Comparison

Sectors	SCHB	SPYM
Technology	34.4%	38.5%
Financial Services	12.2%	11.1%
Consumer Cyclical	10.1%	9.9%
Communication Services	10.1%	10.6%
Industrials	9.4%	7.6%
Healthcare	8.9%	8.4%
Consumer Defensive	4.6%	4.6%
Energy	3.7%	3.2%
Real Estate	2.4%	1.8%
Utilities	2.3%	2.5%
Basic Materials	2.0%	1.7%

Return for Risk

SCHB vs. SPYM — Risk / Return Rank

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

SCHB

SCHB Risk / Return Rank: 73
SCHB Sharpe Ratio Rank: 75
SCHB Sortino Ratio Rank: 73
SCHB Omega Ratio Rank: 73
SCHB Calmar Ratio Rank: 66
SCHB Martin Ratio Rank: 78

SPYM

SPYM Risk / Return Rank: 74
SPYM Sharpe Ratio Rank: 76
SPYM Sortino Ratio Rank: 75
SPYM Omega Ratio Rank: 75
SPYM Calmar Ratio Rank: 66
SPYM Martin Ratio Rank: 78

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. SPYM - 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 ETF (SPYM). 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	SPYM	Difference
Sharpe ratio: Return per unit of total volatility	2.39	2.44	-0.05
Sortino ratio: Return per unit of downside risk	3.25	3.32	-0.06
Omega ratio: Gain probability vs. loss probability	1.43	1.44	-0.01
Calmar ratio: Return relative to maximum drawdown	3.25	3.23	+0.02
Martin ratio: Return relative to average drawdown	14.90	15.02	-0.12
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. SPYM - Sharpe Ratio Comparison

The current SCHB Sharpe Ratio is 2.39, which is comparable to the SPYM Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of SCHB and SPYM, 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	SPYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	2.44	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.84	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.87	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.62	+0.22

Drawdowns

SCHB vs. SPYM - Drawdown Comparison

The maximum SCHB drawdown since its inception was -35.27%, smaller than the maximum SPYM drawdown of -54.46%. Use the drawdown chart below to compare losses from any high point for SCHB and SPYM.

Drawdown Indicators

	SCHB	SPYM	Difference
Max Drawdown Largest peak-to-trough decline	-35.27%	-54.46%	+19.19%
Max Drawdown (1Y) Largest decline over 1 year	-8.91%	-8.90%	-0.01%
Max Drawdown (3Y) Largest decline over 3 years	-19.34%	-18.72%	-0.62%
Max Drawdown (5Y) Largest decline over 5 years	-25.41%	-24.48%	-0.93%
Max Drawdown (10Y) Largest decline over 10 years	-35.27%	-33.87%	-1.40%
Current Drawdown Current decline from peak	-0.27%	-0.32%	+0.05%
Average Drawdown Average peak-to-trough decline	-4.11%	-7.15%	+3.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	1.91%	+0.03%

Volatility

SCHB vs. SPYM - Volatility Comparison

Schwab U.S. Broad Market ETF (SCHB) has a higher volatility of 2.97% compared to State Street SPDR Portfolio S&P 500 ETF (SPYM) at 2.78%. This indicates that SCHB's price experiences larger fluctuations and is considered to be riskier than SPYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHB	SPYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	2.78%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	9.14%	8.91%	+0.23%
Volatility (1Y) Calculated over the trailing 1-year period	12.11%	11.79%	+0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.24%	16.80%	+0.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.31%	18.00%	+0.31%

SCHB vs. SPYM - Expense Ratio Comparison

SCHB has a 0.03% expense ratio, which is higher than SPYM's 0.02% expense ratio. However, 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. SPYM - Dividend Comparison

SCHB's dividend yield for the trailing twelve months is around 1.01%, more than SPYM's 0.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHB Schwab U.S. Broad Market ETF	1.01%	1.11%	1.24%	1.40%	1.61%	1.21%	1.63%	1.80%	2.00%	1.65%	1.86%	2.00%
SPYM State Street SPDR Portfolio S&P 500 ETF	0.99%	1.13%	1.28%	1.44%	1.69%	1.25%	1.54%	1.79%	2.23%	1.75%	1.97%	1.98%

Frequently Asked Questions

Can I hold both SCHB and SPYM in my portfolio?

With a correlation of 0.99, SCHB and SPYM 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 SPYM?

SCHB has higher volatility (2.97%) compared to SPYM (2.78%). In terms of maximum drawdown, SCHB dropped -35.27% vs SPYM's -54.46%.

Which ETF is better, SCHB or SPYM?

On 10-year performance, SPYM leads with 15.57% vs 15.02% for SCHB. On fees, SPYM is cheaper at 0.02% per year. On volatility, SPYM has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHB or SPYM?

Over the 10-year period, SPYM has performed better with a 15.57% return vs 15.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHB or SPYM?

SPYM is cheaper with a 0.02% expense ratio, compared with 0.03% for SCHB.

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

SCHB has the higher dividend yield at 1.01%, compared with 0.99% for SPYM.

What is the main difference between SCHB and SPYM?

SCHB is categorized as Large Cap Blend Equities, while SPYM is S&P 500. SCHB tracks Dow Jones U.S. Broad Stock Market Index, while SPYM tracks S&P 500 Index. They also come from different issuers: Charles Schwab and State Street. Their fees differ too: 0.03% for SCHB and 0.02% for SPYM.

Which has better risk-adjusted returns?

SPYM currently has the higher Sharpe Ratio (2.44 vs 2.39), 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.