SCHG vs. TSPA

Last updated Jul 21, 2026

SCHG (Schwab U.S. Large-Cap Growth ETF) and TSPA (T. Rowe Price US Equity Research ETF) are both exchange-traded funds - SCHG is a Large Cap Growth Equities fund tracking the Dow Jones U.S. Large-Cap Growth Total Stock Market Index, while TSPA is a Large Cap Blend Equities fund actively managed by T. Rowe Price. SCHG is passively managed, while TSPA is actively managed. Over the past 5 years, SCHG returned 13.32%/yr vs 13.44%/yr for TSPA. Their correlation of 0.94 suggests significant overlap in exposure. SCHG charges 0.04%/yr vs 0.34%/yr for TSPA.

Performance

SCHG vs. TSPA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Large-Cap Growth ETF (SCHG) and T. Rowe Price US Equity Research ETF (TSPA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHG achieves a 4.93% return, which is significantly lower than TSPA's 9.75% return.

SCHG

• 1D: -0.09%
• 1M: 0.84%
• 6M: 5.77%
• YTD: 4.93%
• 1Y: 15.31%
• 3Y*: 21.96%
• 5Y*: 13.32%
• 10Y*: 18.26%
• ALL TIME*: 16.37%

TSPA

• 1D: -0.15%
• 1M: -1.03%
• 6M: 8.25%
• YTD: 9.75%
• 1Y: 19.66%
• 3Y*: 20.03%
• 5Y*: 13.44%
• 10Y*: —
• ALL TIME*: 13.75%

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

SCHG vs. TSPA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SCHG Schwab U.S. Large-Cap Growth ETF	4.93%	17.50%	34.95%	50.10%	-31.80%	18.94%
TSPA T. Rowe Price US Equity Research ETF	9.75%	16.44%	26.37%	29.95%	-18.70%	13.26%

Correlation

The correlation between SCHG and TSPA is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jun 9, 2021	0.94

The correlation between SCHG and TSPA has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

SCHG vs. TSPA - Sectors Allocation Comparison

Sectors	SCHG	TSPA
Technology	44.0%	35.9%
Communication Services	14.1%	11.3%
Consumer Cyclical	11.2%	10.0%
Healthcare	9.9%	8.6%
Financial Services	7.7%	12.2%
Industrials	7.6%	8.0%
Consumer Defensive	1.9%	4.7%
Basic Materials	1.6%	1.8%
Energy	0.9%	3.6%
Real Estate	0.6%	1.7%
Utilities	0.5%	2.4%

Return for Risk

SCHG vs. TSPA — Risk / Return Rank

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

SCHG

SCHG Risk / Return Rank: 30
SCHG Sharpe Ratio Rank: 34
SCHG Sortino Ratio Rank: 32
SCHG Omega Ratio Rank: 32
SCHG Calmar Ratio Rank: 26
SCHG Martin Ratio Rank: 29

TSPA

TSPA Risk / Return Rank: 61
TSPA Sharpe Ratio Rank: 60
TSPA Sortino Ratio Rank: 58
TSPA Omega Ratio Rank: 59
TSPA Calmar Ratio Rank: 57
TSPA Martin Ratio Rank: 71

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.

SCHG vs. TSPA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Large-Cap Growth ETF (SCHG) and T. Rowe Price US Equity Research ETF (TSPA). 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.

	SCHG	TSPA	Difference
Sharpe ratio: Return per unit of total volatility	0.94	1.49	-0.56
Sortino ratio: Return per unit of downside risk	1.35	2.10	-0.74
Omega ratio: Gain probability vs. loss probability	1.17	1.27	-0.10
Calmar ratio: Return relative to maximum drawdown	0.94	2.14	-1.20
Martin ratio: Return relative to average drawdown	3.00	9.38	-6.38

SCHG vs. TSPA - Sharpe Ratio Comparison

The current SCHG Sharpe Ratio is 0.94, which is lower than the TSPA Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of SCHG and TSPA, 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

SCHG vs. TSPA - Drawdown Comparison

The maximum SCHG drawdown since its inception was -34.59%, which is greater than TSPA's maximum drawdown of -24.72%. Use the drawdown chart below to compare losses from any high point for SCHG and TSPA.

Drawdown Indicators

	SCHG	TSPA	Difference
Max Drawdown Largest peak-to-trough decline	-34.59%	-24.72%	-9.87%
Max Drawdown (1Y) Largest decline over 1 year	-16.41%	-9.24%	-7.17%
Max Drawdown (3Y) Largest decline over 3 years	-23.39%	-19.04%	-4.35%
Max Drawdown (5Y) Largest decline over 5 years	-34.59%	-24.72%	-9.87%
Max Drawdown (10Y) Largest decline over 10 years	-34.59%	—	—
Current Drawdown Current decline from peak	-3.16%	-2.07%	-1.09%
Average Drawdown Average peak-to-trough decline	-5.19%	-5.40%	+0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.12%	2.10%	+3.02%

Volatility

SCHG vs. TSPA - Volatility Comparison

Schwab U.S. Large-Cap Growth ETF (SCHG) has a higher volatility of 4.47% compared to T. Rowe Price US Equity Research ETF (TSPA) at 3.96%. This indicates that SCHG's price experiences larger fluctuations and is considered to be riskier than TSPA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHG	TSPA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	3.96%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	12.82%	10.71%	+2.11%
Volatility (1Y) Calculated over the trailing 1-year period	16.43%	13.24%	+3.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.40%	17.10%	+5.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.57%	16.98%	+4.59%

SCHG vs. TSPA - Expense Ratio Comparison

SCHG has a 0.04% expense ratio, which is lower than TSPA's 0.34% expense ratio.

Dividends

SCHG vs. TSPA - Dividend Comparison

SCHG's dividend yield for the trailing twelve months is around 0.39%, less than TSPA's 0.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHG Schwab U.S. Large-Cap Growth ETF	0.39%	0.36%	0.39%	0.46%	0.55%	0.42%	0.52%	0.82%	1.27%	1.01%	1.04%	1.22%
TSPA T. Rowe Price US Equity Research ETF	0.57%	0.62%	0.50%	0.41%	1.16%	0.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SCHG and TSPA in my portfolio?

With a correlation of 0.92, SCHG and TSPA 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, SCHG or TSPA?

SCHG has higher volatility (4.47%) compared to TSPA (3.96%). In terms of maximum drawdown, SCHG dropped -34.59% vs TSPA's -24.72%.

Which ETF is better, SCHG or TSPA?

On 5-year performance, TSPA leads with 13.44% vs 13.32% for SCHG. On fees, SCHG is cheaper at 0.04% per year. On volatility, TSPA has been the lower-risk option at 3.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHG or TSPA?

Over the 5-year period, TSPA has performed better with a 13.44% return vs 13.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHG or TSPA?

SCHG is cheaper with a 0.04% expense ratio, compared with 0.34% for TSPA.

Which ETF pays a higher dividend yield, SCHG or TSPA?

TSPA has the higher dividend yield at 0.57%, compared with 0.39% for SCHG.

What is the main difference between SCHG and TSPA?

SCHG is categorized as Large Cap Growth Equities, while TSPA is Large Cap Blend Equities. They also come from different issuers: Charles Schwab and T. Rowe Price. Their fees differ too: 0.04% for SCHG and 0.34% for TSPA.

Which has better risk-adjusted returns?

TSPA currently has the higher Sharpe Ratio (1.49 vs 0.94), 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.