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SCHM vs. IWR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SCHM vs. IWR

Last updated Jun 26, 2026

SCHM (Schwab US Mid-Cap ETF) and IWR (iShares Russell Midcap ETF) are both exchange-traded funds - SCHM is a Mid Cap Blend Equities fund tracking the Dow Jones US Total Stock Market Mid-Cap, while IWR is a Mid Cap Growth Equities fund tracking the Russell Midcap Index. Both are passively managed. Over the past 10 years, SCHM returned 12.31%/yr vs 12.41%/yr for IWR. With a 0.99 correlation, they move nearly in lockstep. SCHM charges 0.04%/yr vs 0.19%/yr for IWR.

Performance

SCHM vs. IWR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab US Mid-Cap ETF (SCHM) and iShares Russell Midcap ETF (IWR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SCHM achieves a 22.04% return, which is significantly higher than IWR's 14.90% return. Both investments have delivered pretty close results over the past 10 years, with SCHM having a 12.31% annualized return and IWR not far ahead at 12.41%.

SCHM

1D
1.96%
1M
4.00%
YTD
22.04%
6M
19.62%
1Y
34.41%
3Y*
18.54%
5Y*
8.42%
10Y*
12.31%

IWR

1D
1.35%
1M
3.20%
YTD
14.90%
6M
13.08%
1Y
23.04%
3Y*
17.47%
5Y*
8.17%
10Y*
12.41%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SCHM vs. IWR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SCHM
Schwab US Mid-Cap ETF		22.04%10.17%11.98%16.69%-17.07%19.36%15.26%27.48%-8.77%19.60%
IWR
iShares Russell Midcap ETF		14.90%10.37%15.21%17.05%-17.48%22.44%16.93%30.23%-9.10%18.25%

Correlation

The correlation between SCHM and IWR 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

0.98

Correlation (5Y)
Calculated over the trailing 5-year period

0.98

Correlation (10Y)
Calculated over the trailing 10-year period

0.98

Correlation (All Time)
Calculated using the full available price history since Jan 13, 2011

0.99

The correlation between SCHM and IWR has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

SCHM vs. IWR - Sectors Allocation Comparison

Sectors
SCHM
IWR

Technology

22.1%
19.6%

Industrials

21.7%
18.1%

Financial Services

10.9%
12.1%

Healthcare

10.9%
8.7%

Consumer Cyclical

10.8%
11.1%

Real Estate

6.4%
6.8%

Basic Materials

4.7%
4.2%

Consumer Defensive

3.4%
3.9%

Energy

3.4%
6.5%

Utilities

2.9%
5.7%

Communication Services

2.6%
3.3%

Technology

SCHM
22.1%
IWR
19.6%

Industrials

SCHM
21.7%
IWR
18.1%

Financial Services

SCHM
10.9%
IWR
12.1%

Healthcare

SCHM
10.9%
IWR
8.7%

Consumer Cyclical

SCHM
10.8%
IWR
11.1%

Real Estate

SCHM
6.4%
IWR
6.8%

Basic Materials

SCHM
4.7%
IWR
4.2%

Consumer Defensive

SCHM
3.4%
IWR
3.9%

Energy

SCHM
3.4%
IWR
6.5%

Utilities

SCHM
2.9%
IWR
5.7%

Communication Services

SCHM
2.6%
IWR
3.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Schwab US Mid-Cap ETF

iShares Russell Midcap ETF

Often compared with SCHM:
SCHM vs. VOSCHM vs. SCHASCHM vs. VOOSCHM vs. IJHSCHM vs. SWMCXSCHM vs. VOTSCHM vs. SPMD
Often compared with IWR:
IWR vs. VOIWR vs. IWDIWR vs. SPMDIWR vs. IWNIWR vs. VXFIWR vs. REGLIWR vs. IMCG

Return for Risk

SCHM vs. IWR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SCHM
SCHM Risk / Return Rank: 7878
Overall Rank
SCHM Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
SCHM Sortino Ratio Rank: 7777
Sortino Ratio Rank
SCHM Omega Ratio Rank: 7272
Omega Ratio Rank
SCHM Calmar Ratio Rank: 8181
Calmar Ratio Rank
SCHM Martin Ratio Rank: 8484
Martin Ratio Rank
IWR
IWR Risk / Return Rank: 6060
Overall Rank
IWR Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
IWR Sortino Ratio Rank: 5858
Sortino Ratio Rank
IWR Omega Ratio Rank: 5353
Omega Ratio Rank
IWR Calmar Ratio Rank: 6666
Calmar Ratio Rank
IWR Martin Ratio Rank: 6868
Martin Ratio Rank
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.

SCHM vs. IWR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab US Mid-Cap ETF (SCHM) 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.

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.

SCHMIWRDifference
Sharpe ratioReturn per unit of total volatility
2.12
1.68

+0.44

Sortino ratioReturn per unit of downside risk
2.95
2.39

+0.56

Omega ratioGain probability vs. loss probability

1.37

1.29

+0.08

Calmar ratioReturn relative to maximum drawdown

3.71

2.83

+0.88

Martin ratioReturn relative to average drawdown

14.81

10.84

+3.97

SCHM vs. IWR - Sharpe Ratio Comparison

The current SCHM Sharpe Ratio is 2.12, which is comparable to the IWR Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of SCHM 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.

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Drawdowns

SCHM vs. IWR - Drawdown Comparison

The maximum SCHM drawdown since its inception was -42.43%, smaller than the maximum IWR drawdown of -58.78%. Use the drawdown chart below to compare losses from any high point for SCHM and IWR.

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Drawdown Indicators

SCHMIWRDifference

Max Drawdown

Largest peak-to-trough decline

-42.43%

-58.78%

+16.35%

Max Drawdown (1Y)

Largest decline over 1 year

-9.32%

-8.17%

-1.15%

Max Drawdown (3Y)

Largest decline over 3 years

-23.27%

-21.09%

-2.18%

Max Drawdown (5Y)

Largest decline over 5 years

-26.46%

-26.18%

-0.28%

Max Drawdown (10Y)

Largest decline over 10 years

-42.43%

-40.59%

-1.84%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-5.64%

-7.79%

+2.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.33%

2.13%

+0.20%

Volatility

SCHM vs. IWR - Volatility Comparison

Schwab US Mid-Cap ETF (SCHM) has a higher volatility of 5.91% compared to iShares Russell Midcap ETF (IWR) at 4.67%. This indicates that SCHM's price experiences larger fluctuations and is considered to be riskier than IWR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SCHMIWRDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.91%

4.67%

+1.24%

Volatility (6M)

Calculated over the trailing 6-month period

12.69%

10.51%

+2.18%

Volatility (1Y)

Calculated over the trailing 1-year period

16.37%

13.83%

+2.54%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.68%

18.30%

+1.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.49%

19.36%

+1.13%

SCHM vs. IWR - Expense Ratio Comparison

SCHM has a 0.04% 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

SCHM vs. IWR - Dividend Comparison

SCHM's dividend yield for the trailing twelve months is around 1.21%, more than IWR's 1.15% yield.

PositionTTM20252024202320222021202020192018201720162015
IWR
iShares Russell Midcap ETF		1.15%1.29%1.27%1.43%1.59%1.04%1.28%1.43%1.98%1.52%1.72%1.59%
SCHM
Schwab US Mid-Cap ETF		1.21%1.46%1.43%1.50%1.67%1.13%1.31%1.48%1.56%1.27%1.51%1.54%

Frequently Asked Questions

With a correlation of 0.97, SCHM and IWR 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.

SCHM has higher volatility (5.91%) compared to IWR (4.67%). In terms of maximum drawdown, SCHM dropped -42.43% vs IWR's -58.78%.

On 10-year performance, IWR leads with 12.41% vs 12.31% for SCHM. On fees, SCHM is cheaper at 0.04% per year. On volatility, IWR has been the lower-risk option at 4.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IWR has performed better with a 12.41% return vs 12.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SCHM is cheaper with a 0.04% expense ratio, compared with 0.19% for IWR.

SCHM has the higher dividend yield at 1.21%, compared with 1.15% for IWR.

SCHM is categorized as Mid Cap Blend Equities, while IWR is Mid Cap Growth Equities. SCHM tracks Dow Jones US Total Stock Market Mid-Cap, while IWR tracks Russell Midcap Index. They also come from different issuers: Charles Schwab and iShares. Their fees differ too: 0.04% for SCHM and 0.19% for IWR.

SCHM currently has the higher Sharpe Ratio (2.12 vs 1.68), 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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