SCHM vs. LSAF

Last updated Aug 6, 2026

SCHM (Schwab US Mid-Cap ETF) and LSAF (LeaderShares AlphaFactor US Core Equity ETF) are both Mid Cap Blend Equities funds - SCHM tracks the Dow Jones US Total Stock Market Mid-Cap while LSAF tracks the AlphaFactor US Core Equity Index. Both are passively managed. Over the past 5 years, SCHM returned 8.07%/yr vs 11.42%/yr for LSAF. Their correlation of 0.91 means they have usually moved in the same direction. SCHM charges 0.04%/yr vs 0.75%/yr for LSAF.

Performance

SCHM vs. LSAF - Performance Comparison

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

Returns By Period

In the year-to-date period, SCHM achieves a 20.04% return, which is significantly lower than LSAF's 23.54% return.

SCHM

• 1D: -0.58%
• 1M: -0.53%
• 6M: 12.76%
• YTD: 20.04%
• 1Y: 27.48%
• 3Y*: 15.86%
• 5Y*: 8.07%
• 10Y*: 11.09%
• ALL TIME*: 11.40%

LSAF

• 1D: 0.05%
• 1M: 5.12%
• 6M: 18.39%
• YTD: 23.54%
• 1Y: 32.38%
• 3Y*: 20.05%
• 5Y*: 11.42%
• 10Y*: —
• ALL TIME*: 11.42%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
LSAF LeaderShares AlphaFactor US Core Equity ETF	$329.56K	$234.98K	$207.45K
SCHM Schwab US Mid-Cap ETF	$35.35M	$32.26M	$37.12M

SCHM vs. LSAF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SCHM Schwab US Mid-Cap ETF	20.04%	10.17%	11.98%	16.69%	-17.07%	19.36%	15.26%	27.48%	-16.22%
LSAF LeaderShares AlphaFactor US Core Equity ETF	23.54%	12.01%	18.09%	15.48%	-13.12%	22.75%	6.92%	28.35%	-15.47%

Correlation

The correlation between SCHM and LSAF is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (All Time) Calculated using the full available price history since Oct 2, 2018	0.91

The correlation between SCHM and LSAF shifts across timeframes, from 0.78 (1 year) to 0.91 (all time), reflecting how their relationship changes across market environments.

SCHM vs. LSAF - Sectors Allocation Comparison

Sectors	SCHM	LSAF
Technology	22.0%	15.4%
Industrials	21.9%	10.7%
Healthcare	11.6%	7.8%
Financial Services	11.1%	16.2%
Consumer Cyclical	10.9%	19.9%
Real Estate	6.5%	2.1%
Basic Materials	4.1%	5.8%
Consumer Defensive	3.4%	4.1%
Energy	3.2%	3.3%
Utilities	2.9%	0.9%
Communication Services	2.4%	4.7%

Return for Risk

SCHM vs. LSAF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SCHM

SCHM Risk / Return Rank: 66
SCHM Sharpe Ratio Rank: 60
SCHM Sortino Ratio Rank: 63
SCHM Omega Ratio Rank: 57
SCHM Calmar Ratio Rank: 74
SCHM Martin Ratio Rank: 73

LSAF

LSAF Risk / Return Rank: 89
LSAF Sharpe Ratio Rank: 87
LSAF Sortino Ratio Rank: 88
LSAF Omega Ratio Rank: 83
LSAF Calmar Ratio Rank: 93
LSAF Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SCHM vs. LSAF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab US Mid-Cap ETF (SCHM) and LeaderShares AlphaFactor US Core Equity ETF (LSAF). 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.

	SCHM	LSAF	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.27	-0.62
Sortino ratio: Return per unit of downside risk	2.40	3.30	-0.90
Omega ratio: Gain probability vs. loss probability	1.29	1.39	-0.11
Calmar ratio: Return relative to maximum drawdown	2.96	4.94	-1.98
Martin ratio: Return relative to average drawdown	10.36	16.65	-6.29

SCHM vs. LSAF - Sharpe Ratio Comparison

The current SCHM Sharpe Ratio is 1.65, which is comparable to the LSAF Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of SCHM and LSAF, 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

SCHM vs. LSAF - Drawdown Comparison

The maximum SCHM drawdown since its inception was -42.43%, roughly equal to the maximum LSAF drawdown of -41.67%. Use the drawdown chart below to compare losses from any high point for SCHM and LSAF.

Drawdown Indicators

	SCHM	LSAF	Difference
Max Drawdown Largest peak-to-trough decline	-42.43%	-41.67%	-0.76%
Max Drawdown (1Y) Largest decline over 1 year	-9.32%	-6.58%	-2.74%
Max Drawdown (3Y) Largest decline over 3 years	-23.27%	-20.26%	-3.01%
Max Drawdown (5Y) Largest decline over 5 years	-26.46%	-24.94%	-1.52%
Max Drawdown (10Y) Largest decline over 10 years	-42.43%	—	—
Current Drawdown Current decline from peak	-2.63%	0.00%	-2.63%
Average Drawdown Average peak-to-trough decline	-5.62%	-6.20%	+0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	1.95%	+0.71%

Volatility

SCHM vs. LSAF - Volatility Comparison

Schwab US Mid-Cap ETF (SCHM) has a higher volatility of 5.13% compared to LeaderShares AlphaFactor US Core Equity ETF (LSAF) at 4.51%. This indicates that SCHM's price experiences larger fluctuations and is considered to be riskier than LSAF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHM	LSAF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.13%	4.51%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	13.32%	10.56%	+2.76%
Volatility (1Y) Calculated over the trailing 1-year period	16.78%	14.34%	+2.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.72%	18.40%	+1.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.50%	21.73%	-1.23%

SCHM vs. LSAF - Expense Ratio Comparison

SCHM has a 0.04% expense ratio, which is lower than LSAF's 0.75% expense ratio.

Dividends

SCHM vs. LSAF - Dividend Comparison

SCHM's dividend yield for the trailing twelve months is around 1.23%, more than LSAF's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LSAF LeaderShares AlphaFactor US Core Equity ETF	0.56%	0.69%	0.42%	0.84%	0.96%	0.37%	0.53%	0.71%	0.20%	0.00%	0.00%	0.00%
SCHM Schwab US Mid-Cap ETF	1.23%	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

Can I hold both SCHM and LSAF in my portfolio?

SCHM and LSAF have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHM or LSAF?

SCHM has higher volatility (5.13%) compared to LSAF (4.51%). In terms of maximum drawdown, SCHM dropped -42.43% vs LSAF's -41.67%.

Which ETF is better, SCHM or LSAF?

On 5-year performance, LSAF leads with 11.42% vs 8.07% for SCHM. On fees, SCHM is cheaper at 0.04% per year. On volatility, LSAF has been the lower-risk option at 4.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHM or LSAF?

Over the 5-year period, LSAF has performed better with a 11.42% return vs 8.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHM or LSAF?

SCHM is cheaper with a 0.04% expense ratio, compared with 0.75% for LSAF.

Which ETF pays a higher dividend yield, SCHM or LSAF?

SCHM has the higher dividend yield at 1.23%, compared with 0.56% for LSAF.

What is the main difference between SCHM and LSAF?

SCHM tracks Dow Jones US Total Stock Market Mid-Cap, while LSAF tracks AlphaFactor US Core Equity Index. They also come from different issuers: Charles Schwab and Redwood. Their fees differ too: 0.04% for SCHM and 0.75% for LSAF.

Which has better risk-adjusted returns?

LSAF currently has the higher Sharpe Ratio (2.27 vs 1.65), 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.