SCHF vs. PXF

Last updated Jun 13, 2026

SCHF (Schwab International Equity ETF) and PXF (Invesco FTSE RAFI Developed Markets ex-U.S. ETF) are both Foreign Large Cap Equities funds - SCHF tracks the FTSE Developed ex U.S. Index while PXF tracks the FTSE RAFI Developed Markets ex-U.S. Index. Both are passively managed. Over the past 10 years, SCHF returned 10.82%/yr vs 12.26%/yr for PXF. With a 0.96 correlation, they move nearly in lockstep. SCHF charges 0.06%/yr vs 0.45%/yr for PXF.

Performance

SCHF vs. PXF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab International Equity ETF (SCHF) and Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHF achieves a 15.39% return, which is significantly lower than PXF's 18.79% return. Over the past 10 years, SCHF has underperformed PXF with an annualized return of 10.82%, while PXF has yielded a comparatively higher 12.26% annualized return.

SCHF

• 1D: 0.29%
• 1M: 1.57%
• YTD: 15.39%
• 6M: 17.24%
• 1Y: 30.20%
• 3Y*: 19.18%
• 5Y*: 9.76%
• 10Y*: 10.82%

PXF

• 1D: 0.34%
• 1M: 0.89%
• YTD: 18.79%
• 6M: 20.98%
• 1Y: 39.76%
• 3Y*: 23.81%
• 5Y*: 13.18%
• 10Y*: 12.26%

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

SCHF vs. PXF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHF Schwab International Equity ETF	15.39%	34.55%	3.28%	18.35%	-14.80%	11.40%	9.48%	22.26%	-14.29%	26.03%
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF	18.79%	42.51%	4.54%	18.46%	-9.09%	15.93%	2.58%	17.50%	-14.84%	24.52%

Correlation

The correlation between SCHF and PXF is 0.97 - 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	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Nov 3, 2009	0.96

The correlation between SCHF and PXF has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

SCHF vs. PXF - Sectors Allocation Comparison

Sectors	SCHF	PXF
Financial Services	24.0%	19.7%
Technology	21.4%	11.4%
Industrials	8.9%	15.1%
Healthcare	7.3%	7.2%
Basic Materials	5.8%	10.1%
Energy	5.5%	10.6%
Consumer Defensive	4.5%	6.1%
Consumer Cyclical	4.4%	10.2%
Communication Services	1.8%	4.3%
Utilities	1.0%	3.6%
Real Estate	0.2%	1.8%

Return for Risk

SCHF vs. PXF — Risk / Return Rank

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

SCHF

SCHF Risk / Return Rank: 63
SCHF Sharpe Ratio Rank: 64
SCHF Sortino Ratio Rank: 62
SCHF Omega Ratio Rank: 63
SCHF Calmar Ratio Rank: 61
SCHF Martin Ratio Rank: 64

PXF

PXF Risk / Return Rank: 83
PXF Sharpe Ratio Rank: 87
PXF Sortino Ratio Rank: 84
PXF Omega Ratio Rank: 85
PXF Calmar Ratio Rank: 80
PXF Martin Ratio Rank: 80

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.

SCHF vs. PXF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab International Equity ETF (SCHF) and Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF). 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.

	SCHF	PXF	Difference
Sharpe ratio: Return per unit of total volatility	1.82	2.47	-0.65
Sortino ratio: Return per unit of downside risk	2.52	3.25	-0.73
Omega ratio: Gain probability vs. loss probability	1.33	1.45	-0.12
Calmar ratio: Return relative to maximum drawdown	2.64	3.66	-1.02
Martin ratio: Return relative to average drawdown	10.14	13.76	-3.61

SCHF vs. PXF - Sharpe Ratio Comparison

The current SCHF Sharpe Ratio is 1.82, which is comparable to the PXF Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of SCHF and PXF, 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

SCHF vs. PXF - Drawdown Comparison

The maximum SCHF drawdown since its inception was -34.87%, smaller than the maximum PXF drawdown of -64.74%. Use the drawdown chart below to compare losses from any high point for SCHF and PXF.

Drawdown Indicators

	SCHF	PXF	Difference
Max Drawdown Largest peak-to-trough decline	-34.87%	-64.74%	+29.87%
Max Drawdown (1Y) Largest decline over 1 year	-11.48%	-10.91%	-0.57%
Max Drawdown (3Y) Largest decline over 3 years	-13.41%	-14.06%	+0.65%
Max Drawdown (5Y) Largest decline over 5 years	-29.14%	-26.82%	-2.32%
Max Drawdown (10Y) Largest decline over 10 years	-34.87%	-41.59%	+6.72%
Current Drawdown Current decline from peak	-1.00%	-2.04%	+1.04%
Average Drawdown Average peak-to-trough decline	-7.37%	-15.25%	+7.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	2.90%	+0.09%

Volatility

SCHF vs. PXF - Volatility Comparison

Schwab International Equity ETF (SCHF) and Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) have volatilities of 6.91% and 6.76%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHF	PXF	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.91%	6.76%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	14.42%	13.95%	+0.47%
Volatility (1Y) Calculated over the trailing 1-year period	16.67%	16.18%	+0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.56%	16.62%	-0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.24%	18.07%	-0.83%

SCHF vs. PXF - Expense Ratio Comparison

SCHF has a 0.06% expense ratio, which is lower than PXF's 0.45% expense ratio.

Dividends

SCHF vs. PXF - Dividend Comparison

SCHF's dividend yield for the trailing twelve months is around 2.96%, less than PXF's 3.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF	3.12%	3.64%	3.48%	3.55%	3.58%	3.74%	2.11%	3.50%	3.38%	2.78%	3.21%	3.10%
SCHF Schwab International Equity ETF	2.96%	3.42%	3.26%	2.97%	2.80%	3.19%	2.08%	2.95%	3.06%	2.35%	2.58%	2.26%

Frequently Asked Questions

Can I hold both SCHF and PXF in my portfolio?

With a correlation of 0.97, SCHF and PXF 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, SCHF or PXF?

SCHF has higher volatility (6.91%) compared to PXF (6.76%). In terms of maximum drawdown, SCHF dropped -34.87% vs PXF's -64.74%.

Which ETF is better, SCHF or PXF?

On 10-year performance, PXF leads with 12.26% vs 10.82% for SCHF. On fees, SCHF is cheaper at 0.06% per year. On volatility, PXF has been the lower-risk option at 6.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHF or PXF?

Over the 10-year period, PXF has performed better with a 12.26% return vs 10.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHF or PXF?

SCHF is cheaper with a 0.06% expense ratio, compared with 0.45% for PXF.

Which ETF pays a higher dividend yield, SCHF or PXF?

PXF has the higher dividend yield at 3.12%, compared with 2.96% for SCHF.

What is the main difference between SCHF and PXF?

SCHF tracks FTSE Developed ex U.S. Index, while PXF tracks FTSE RAFI Developed Markets ex-U.S. Index. They also come from different issuers: Charles Schwab and Invesco. Their fees differ too: 0.06% for SCHF and 0.45% for PXF.

Which has better risk-adjusted returns?

PXF currently has the higher Sharpe Ratio (2.47 vs 1.82), 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.