SCHD vs. IWR

Last updated Jun 9, 2026

SCHD (Schwab U.S. Dividend Equity ETF) and IWR (iShares Russell Midcap ETF) are both exchange-traded funds - SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index, while IWR is a Mid Cap Growth Equities fund tracking the Russell Midcap Index. Both are passively managed. Over the past 10 years, SCHD returned 12.65%/yr vs 11.41%/yr for IWR. Their correlation of 0.84 suggests significant overlap in exposure. SCHD charges 0.06%/yr vs 0.19%/yr for IWR.

Performance

SCHD vs. IWR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Dividend Equity ETF (SCHD) and iShares Russell Midcap ETF (IWR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHD achieves a 18.71% return, which is significantly higher than IWR's 10.71% return. Over the past 10 years, SCHD has outperformed IWR with an annualized return of 12.65%, while IWR has yielded a comparatively lower 11.41% annualized return.

SCHD

• 1D: -0.03%
• 1M: 2.12%
• YTD: 18.71%
• 6M: 19.28%
• 1Y: 26.37%
• 3Y*: 14.73%
• 5Y*: 8.49%
• 10Y*: 12.65%

IWR

• 1D: 0.08%
• 1M: 1.05%
• YTD: 10.71%
• 6M: 10.50%
• 1Y: 19.23%
• 3Y*: 16.25%
• 5Y*: 7.68%
• 10Y*: 11.41%

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

SCHD vs. IWR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHD Schwab U.S. Dividend Equity ETF	18.71%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%
IWR iShares Russell Midcap ETF	10.71%	10.37%	15.21%	17.05%	-17.48%	22.44%	16.93%	30.23%	-9.10%	18.25%

Correlation

The correlation between SCHD and IWR is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Oct 21, 2011	0.84

Over the past year, the correlation between SCHD and IWR has dropped to 0.63 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.

SCHD vs. IWR - Sectors Allocation Comparison

Sectors	SCHD	IWR
Consumer Defensive	19.2%	4.1%
Healthcare	18.8%	8.7%
Technology	16.4%	17.2%
Energy	16.2%	7.2%
Financial Services	9.3%	12.5%
Industrials	7.5%	18.4%
Communication Services	6.3%	3.4%
Consumer Cyclical	6.3%	11.2%
Basic Materials	1.2%	4.3%
Utilities	0.0%	6.1%
Real Estate	-	7.0%

Return for Risk

SCHD vs. IWR — Risk / Return Rank

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

SCHD

SCHD Risk / Return Rank: 85
SCHD Sharpe Ratio Rank: 83
SCHD Sortino Ratio Rank: 89
SCHD Omega Ratio Rank: 81
SCHD Calmar Ratio Rank: 92
SCHD Martin Ratio Rank: 80

IWR

IWR Risk / Return Rank: 49
IWR Sharpe Ratio Rank: 45
IWR Sortino Ratio Rank: 46
IWR Omega Ratio Rank: 43
IWR Calmar Ratio Rank: 53
IWR Martin Ratio Rank: 57

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.

SCHD vs. IWR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Dividend Equity ETF (SCHD) and iShares Russell Midcap ETF (IWR). 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.

	SCHD	IWR	Difference
Sharpe ratio: Return per unit of total volatility	2.43	1.43	+1.00
Sortino ratio: Return per unit of downside risk	3.75	2.07	+1.68
Omega ratio: Gain probability vs. loss probability	1.43	1.25	+0.18
Calmar ratio: Return relative to maximum drawdown	5.74	2.37	+3.37
Martin ratio: Return relative to average drawdown	14.06	9.09	+4.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCHD vs. IWR - Sharpe Ratio Comparison

The current SCHD Sharpe Ratio is 2.43, which is higher than the IWR Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of SCHD and IWR, 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

	SCHD	IWR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	1.43	+1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.42	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.59	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.49	+0.37

Drawdowns

SCHD vs. IWR - Drawdown Comparison

The maximum SCHD drawdown since its inception was -33.37%, smaller than the maximum IWR drawdown of -58.78%. Use the drawdown chart below to compare losses from any high point for SCHD and IWR.

Drawdown Indicators

	SCHD	IWR	Difference
Max Drawdown Largest peak-to-trough decline	-33.37%	-58.78%	+25.41%
Max Drawdown (1Y) Largest decline over 1 year	-4.61%	-8.17%	+3.56%
Max Drawdown (3Y) Largest decline over 3 years	-16.13%	-21.09%	+4.96%
Max Drawdown (5Y) Largest decline over 5 years	-16.85%	-26.18%	+9.33%
Max Drawdown (10Y) Largest decline over 10 years	-33.37%	-40.59%	+7.22%
Current Drawdown Current decline from peak	-1.64%	-2.04%	+0.40%
Average Drawdown Average peak-to-trough decline	-3.32%	-7.80%	+4.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	2.12%	-0.24%

Volatility

SCHD vs. IWR - Volatility Comparison

The current volatility for Schwab U.S. Dividend Equity ETF (SCHD) is 2.83%, while iShares Russell Midcap ETF (IWR) has a volatility of 3.59%. This indicates that SCHD experiences smaller price fluctuations and is considered to be less risky than IWR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHD	IWR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	3.59%	-0.76%
Volatility (6M) Calculated over the trailing 6-month period	7.60%	10.06%	-2.46%
Volatility (1Y) Calculated over the trailing 1-year period	10.94%	13.54%	-2.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.38%	18.25%	-3.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.72%	19.38%	-2.66%

SCHD vs. IWR - Expense Ratio Comparison

SCHD has a 0.06% expense ratio, which is lower than IWR's 0.19% 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

SCHD vs. IWR - Dividend Comparison

SCHD's dividend yield for the trailing twelve months is around 3.27%, more than IWR's 1.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWR iShares Russell Midcap ETF	1.17%	1.29%	1.27%	1.43%	1.59%	1.04%	1.28%	1.43%	1.98%	1.52%	1.72%	1.59%
SCHD Schwab U.S. Dividend Equity ETF	3.27%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%

Frequently Asked Questions

Can I hold both SCHD and IWR in my portfolio?

SCHD and IWR have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHD or IWR?

IWR has higher volatility (3.59%) compared to SCHD (2.83%). In terms of maximum drawdown, SCHD dropped -33.37% vs IWR's -58.78%.

Which ETF is better, SCHD or IWR?

On 10-year performance, SCHD leads with 12.65% vs 11.41% for IWR. On fees, SCHD is cheaper at 0.06% per year. On volatility, SCHD has been the lower-risk option at 2.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHD or IWR?

Over the 10-year period, SCHD has performed better with a 12.65% return vs 11.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHD or IWR?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.19% for IWR.

Which ETF pays a higher dividend yield, SCHD or IWR?

SCHD has the higher dividend yield at 3.27%, compared with 1.17% for IWR.

What is the main difference between SCHD and IWR?

SCHD is categorized as Dividend, while IWR is Mid Cap Growth Equities. SCHD tracks Dow Jones U.S. Dividend 100 Index, while IWR tracks Russell Midcap Index. They also come from different issuers: Charles Schwab and iShares. Their fees differ too: 0.06% for SCHD and 0.19% for IWR.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.43 vs 1.43), 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.