SCHE vs. OBDC

Last updated Jun 13, 2026

SCHE (Schwab Emerging Markets Equity ETF) is Emerging Markets Equities fund tracking the FTSE Emerging Index, while OBDC (Blue Owl Capital Corporation) is a stock. Over the past 5 years, SCHE returned 4.83%/yr vs 5.43%/yr for OBDC. At a 0.35 correlation, their price movements are largely independent.

Performance

SCHE vs. OBDC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Emerging Markets Equity ETF (SCHE) and Blue Owl Capital Corporation (OBDC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHE achieves a 10.50% return, which is significantly higher than OBDC's -6.89% return.

SCHE

• 1D: 0.84%
• 1M: -0.58%
• YTD: 10.50%
• 6M: 12.18%
• 1Y: 26.49%
• 3Y*: 16.79%
• 5Y*: 4.83%
• 10Y*: 9.02%

OBDC

• 1D: 0.09%
• 1M: -0.71%
• YTD: -6.89%
• 6M: -8.67%
• 1Y: -13.64%
• 3Y*: 5.28%
• 5Y*: 5.43%
• 10Y*: —

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

SCHE vs. OBDC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SCHE Schwab Emerging Markets Equity ETF	10.50%	26.54%	10.60%	8.93%	-17.84%	-0.65%	14.49%	6.49%
OBDC Blue Owl Capital Corporation	-6.89%	-7.87%	14.69%	43.51%	-9.48%	21.99%	-19.52%	20.00%

Correlation

The correlation between SCHE and OBDC is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (All Time) Calculated using the full available price history since Jul 18, 2019	0.35

Return for Risk

SCHE vs. OBDC — Risk / Return Rank

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

SCHE

SCHE Risk / Return Rank: 49
SCHE Sharpe Ratio Rank: 48
SCHE Sortino Ratio Rank: 46
SCHE Omega Ratio Rank: 49
SCHE Calmar Ratio Rank: 50
SCHE Martin Ratio Rank: 52

OBDC

OBDC Risk / Return Rank: 18
OBDC Sharpe Ratio Rank: 15
OBDC Sortino Ratio Rank: 16
OBDC Omega Ratio Rank: 17
OBDC Calmar Ratio Rank: 20
OBDC Martin Ratio Rank: 22

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.

SCHE vs. OBDC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Emerging Markets Equity ETF (SCHE) and Blue Owl Capital Corporation (OBDC). 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.

	SCHE	OBDC	Difference
Sharpe ratio: Return per unit of total volatility	1.45	-0.63	+2.08
Sortino ratio: Return per unit of downside risk	2.04	-0.79	+2.83
Omega ratio: Gain probability vs. loss probability	1.27	0.91	+0.36
Calmar ratio: Return relative to maximum drawdown	2.18	-0.61	+2.80
Martin ratio: Return relative to average drawdown	7.70	-1.03	+8.73

SCHE vs. OBDC - Sharpe Ratio Comparison

The current SCHE Sharpe Ratio is 1.45, which is higher than the OBDC Sharpe Ratio of -0.63. The chart below compares the historical Sharpe Ratios of SCHE and OBDC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SCHE vs. OBDC - Drawdown Comparison

The maximum SCHE drawdown since its inception was -36.20%, smaller than the maximum OBDC drawdown of -56.07%. Use the drawdown chart below to compare losses from any high point for SCHE and OBDC.

Drawdown Indicators

	SCHE	OBDC	Difference
Max Drawdown Largest peak-to-trough decline	-36.20%	-56.07%	+19.87%
Max Drawdown (1Y) Largest decline over 1 year	-11.29%	-23.90%	+12.61%
Max Drawdown (3Y) Largest decline over 3 years	-17.08%	-23.90%	+6.82%
Max Drawdown (5Y) Largest decline over 5 years	-33.31%	-28.26%	-5.05%
Max Drawdown (10Y) Largest decline over 10 years	-36.20%	—	—
Current Drawdown Current decline from peak	-2.66%	-18.68%	+16.02%
Average Drawdown Average peak-to-trough decline	-12.58%	-10.67%	-1.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	14.20%	-11.00%

Volatility

SCHE vs. OBDC - Volatility Comparison

Schwab Emerging Markets Equity ETF (SCHE) has a higher volatility of 6.91% compared to Blue Owl Capital Corporation (OBDC) at 6.58%. This indicates that SCHE's price experiences larger fluctuations and is considered to be riskier than OBDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHE	OBDC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.91%	6.58%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	14.48%	18.87%	-4.39%
Volatility (1Y) Calculated over the trailing 1-year period	16.97%	23.15%	-6.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.79%	20.77%	-2.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.49%	27.06%	-7.57%

Dividends

SCHE vs. OBDC - Dividend Comparison

SCHE's dividend yield for the trailing twelve months is around 2.61%, less than OBDC's 13.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OBDC Blue Owl Capital Corporation	13.42%	12.55%	11.38%	10.77%	11.17%	8.76%	12.32%	3.80%	0.00%	0.00%	0.00%	0.00%
SCHE Schwab Emerging Markets Equity ETF	2.61%	2.88%	3.03%	3.83%	2.88%	2.86%	2.09%	3.27%	2.64%	2.31%	2.27%	2.50%

Frequently Asked Questions

Can I hold both SCHE and OBDC in my portfolio?

SCHE and OBDC have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHE or OBDC?

SCHE has higher volatility (6.91%) compared to OBDC (6.58%). In terms of maximum drawdown, SCHE dropped -36.20% vs OBDC's -56.07%.

Which has better risk-adjusted returns?

SCHE currently has the higher Sharpe Ratio (1.45 vs -0.63), 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.