SCHC vs. PJAN
SCHC (Schwab International Small-Cap Equity ETF) and PJAN (Innovator U.S. Equity Power Buffer ETF - January) are both exchange-traded funds - SCHC is a Foreign Small & Mid Cap Equities fund tracking the FTSE Custom Developed Small Cap ex-US Liquid Net of Tax (Lux), while PJAN is a Defined Outcome fund tracking the Cboe S&P 500 15% Buffer Protect January Series Index. Both are passively managed. Over the past 5 years, SCHC returned 6.10%/yr vs 8.76%/yr for PJAN. A 0.71 correlation means they provide meaningful diversification when combined. SCHC charges 0.11%/yr vs 0.79%/yr for PJAN.
Performance
SCHC vs. PJAN - Performance Comparison
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Returns By Period
In the year-to-date period, SCHC achieves a 9.25% return, which is significantly higher than PJAN's 4.83% return.
SCHC
- 1D
- 0.71%
- 1M
- -2.36%
- YTD
- 9.25%
- 6M
- 11.25%
- 1Y
- 25.49%
- 3Y*
- 17.06%
- 5Y*
- 6.10%
- 10Y*
- 8.48%
PJAN
- 1D
- 0.41%
- 1M
- 0.16%
- YTD
- 4.83%
- 6M
- 5.48%
- 1Y
- 14.36%
- 3Y*
- 12.39%
- 5Y*
- 8.76%
- 10Y*
- —
SCHC vs. PJAN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SCHC Schwab International Small-Cap Equity ETF | 9.25% | 37.59% | 1.97% | 14.36% | -21.74% | 12.02% | 10.48% | 23.10% |
PJAN Innovator U.S. Equity Power Buffer ETF - January | 4.83% | 11.29% | 13.45% | 18.18% | -5.29% | 8.80% | 7.68% | 12.97% |
Correlation
The correlation between SCHC and PJAN is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2019 | 0.71 |
The correlation between SCHC and PJAN has been stable across timeframes, ranging from 0.65 to 0.72 - a consistent structural relationship.
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Return for Risk
SCHC vs. PJAN — Risk / Return Rank
SCHC
PJAN
SCHC vs. PJAN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab International Small-Cap Equity ETF (SCHC) and Innovator U.S. Equity Power Buffer ETF - January (PJAN). 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.
| SCHC | PJAN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.48 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 2.97 | -1.04 |
| Martin ratioReturn relative to average drawdown | 7.12 | 15.67 | -8.55 |
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Drawdowns
SCHC vs. PJAN - Drawdown Comparison
The maximum SCHC drawdown since its inception was -43.94%, which is greater than PJAN's maximum drawdown of -21.25%. Use the drawdown chart below to compare losses from any high point for SCHC and PJAN.
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Drawdown Indicators
| SCHC | PJAN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.94% | -21.25% | -22.69% |
Max Drawdown (1Y)Largest decline over 1 year | -12.48% | -4.63% | -7.85% |
Max Drawdown (3Y)Largest decline over 3 years | -15.52% | -10.49% | -5.03% |
Max Drawdown (5Y)Largest decline over 5 years | -36.48% | -11.93% | -24.55% |
Max Drawdown (10Y)Largest decline over 10 years | -43.94% | — | — |
Current DrawdownCurrent decline from peak | -3.49% | -0.54% | -2.95% |
Average DrawdownAverage peak-to-trough decline | -10.04% | -1.72% | -8.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.38% | 0.88% | +2.50% |
Volatility
SCHC vs. PJAN - Volatility Comparison
Schwab International Small-Cap Equity ETF (SCHC) has a higher volatility of 6.31% compared to Innovator U.S. Equity Power Buffer ETF - January (PJAN) at 1.64%. This indicates that SCHC's price experiences larger fluctuations and is considered to be riskier than PJAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHC | PJAN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.31% | 1.64% | +4.67% |
Volatility (6M)Calculated over the trailing 6-month period | 13.88% | 4.89% | +8.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.21% | 5.91% | +10.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.62% | 8.94% | +8.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.02% | 10.59% | +7.43% |
SCHC vs. PJAN - Expense Ratio Comparison
SCHC has a 0.11% expense ratio, which is lower than PJAN's 0.79% expense ratio.
Dividends
SCHC vs. PJAN - Dividend Comparison
SCHC's dividend yield for the trailing twelve months is around 3.35%, while PJAN has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PJAN Innovator U.S. Equity Power Buffer ETF - January | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SCHC Schwab International Small-Cap Equity ETF | 3.35% | 3.66% | 3.72% | 2.94% | 1.78% | 3.02% | 1.62% | 3.23% | 2.51% | 2.73% | 2.01% | 2.34% |
Frequently Asked Questions
SCHC and PJAN have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHC has higher volatility (6.31%) compared to PJAN (1.64%). In terms of maximum drawdown, SCHC dropped -43.94% vs PJAN's -21.25%.
On 5-year performance, PJAN leads with 8.76% vs 6.10% for SCHC. On fees, SCHC is cheaper at 0.11% per year. On volatility, PJAN has been the lower-risk option at 1.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PJAN has performed better with a 8.76% return vs 6.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHC is cheaper with a 0.11% expense ratio, compared with 0.79% for PJAN.
SCHC has the higher dividend yield at 3.35%, compared with 0.00% for PJAN.
SCHC is categorized as Foreign Small & Mid Cap Equities, while PJAN is Defined Outcome. SCHC tracks FTSE Custom Developed Small Cap ex-US Liquid Net of Tax (Lux), while PJAN tracks Cboe S&P 500 15% Buffer Protect January Series Index. They also come from different issuers: Charles Schwab and Innovator. Their fees differ too: 0.11% for SCHC and 0.79% for PJAN.
PJAN currently has the higher Sharpe Ratio (2.33 vs 1.49), 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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