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SCHM vs. PWC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SCHM vs. PWC

Last updated Jun 23, 2026

SCHM (Schwab US Mid-Cap ETF) and PWC (Invesco Dynamic Market ETF) are both Mid Cap Blend Equities funds - SCHM tracks the Dow Jones US Total Stock Market Mid-Cap while PWC tracks the Dynamic Market Intellidex Index. Both are passively managed. Over the past 10 years, SCHM returned 11.91%/yr vs 9.38%/yr for PWC. Their correlation of 0.87 suggests significant overlap in exposure. SCHM charges 0.04%/yr vs 0.60%/yr for PWC.

Performance

SCHM vs. PWC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab US Mid-Cap ETF (SCHM) and Invesco Dynamic Market ETF (PWC). 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 21.21% return, which is significantly higher than PWC's 4.80% return. Over the past 10 years, SCHM has outperformed PWC with an annualized return of 11.91%, while PWC has yielded a comparatively lower 9.38% annualized return.

SCHM

1D
0.75%
1M
4.69%
YTD
21.21%
6M
18.53%
1Y
34.77%
3Y*
18.54%
5Y*
8.58%
10Y*
11.91%

PWC

1D
-0.39%
1M
-2.09%
YTD
4.80%
6M
4.55%
1Y
9.02%
3Y*
12.38%
5Y*
7.10%
10Y*
9.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SCHM vs. PWC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SCHM
Schwab US Mid-Cap ETF		21.21%10.17%11.98%16.69%-17.07%19.36%15.26%27.48%-8.77%19.60%
PWC
Invesco Dynamic Market ETF		4.80%6.15%17.46%19.03%-16.01%19.38%8.52%13.47%-6.40%20.16%

Correlation

The correlation between SCHM and PWC is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.67

Correlation (3Y)
Calculated over the trailing 3-year period

0.78

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

0.86

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

0.85

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

0.87

The correlation between SCHM and PWC shifts across timeframes, from 0.67 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.

SCHM vs. PWC - Sectors Allocation Comparison

Sectors
SCHM
PWC

Technology

22.1%
26.1%

Industrials

21.7%
10.3%

Financial Services

10.9%
14.0%

Healthcare

10.9%
12.7%

Consumer Cyclical

10.8%
11.5%

Real Estate

6.4%
5.3%

Basic Materials

4.7%
3.5%

Consumer Defensive

3.4%
6.8%

Energy

3.4%
5.5%

Utilities

2.9%
2.7%

Communication Services

2.6%
7.0%

Technology

SCHM
22.1%
PWC
26.1%

Industrials

SCHM
21.7%
PWC
10.3%

Financial Services

SCHM
10.9%
PWC
14.0%

Healthcare

SCHM
10.9%
PWC
12.7%

Consumer Cyclical

SCHM
10.8%
PWC
11.5%

Real Estate

SCHM
6.4%
PWC
5.3%

Basic Materials

SCHM
4.7%
PWC
3.5%

Consumer Defensive

SCHM
3.4%
PWC
6.8%

Energy

SCHM
3.4%
PWC
5.5%

Utilities

SCHM
2.9%
PWC
2.7%

Communication Services

SCHM
2.6%
PWC
7.0%

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

Invesco Dynamic Market ETF

Often compared with SCHM:
SCHM vs. VOSCHM vs. SCHASCHM vs. VOOSCHM vs. IJHSCHM vs. SWMCXSCHM vs. VOTSCHM vs. SPMD
Often compared with PWC:
PWC vs. FWRG.LPWC vs. SPYPWC vs. SCHGPWC vs. SOXXPWC vs. TUSAPWC vs. CGDVPWC vs. TXS

Return for Risk

SCHM vs. PWC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SCHM
SCHM Risk / Return Rank: 7171
Overall Rank
SCHM Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
SCHM Sortino Ratio Rank: 6969
Sortino Ratio Rank
SCHM Omega Ratio Rank: 6464
Omega Ratio Rank
SCHM Calmar Ratio Rank: 7676
Calmar Ratio Rank
SCHM Martin Ratio Rank: 7979
Martin Ratio Rank
PWC
PWC Risk / Return Rank: 2828
Overall Rank
PWC Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
PWC Sortino Ratio Rank: 2626
Sortino Ratio Rank
PWC Omega Ratio Rank: 2424
Omega Ratio Rank
PWC Calmar Ratio Rank: 3030
Calmar Ratio Rank
PWC Martin Ratio Rank: 3131
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. PWC - Risk-Adjusted Trends Comparison

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

SCHMPWCDifference
Sharpe ratioReturn per unit of total volatility
2.16
0.94

+1.22

Sortino ratioReturn per unit of downside risk
3.00
1.41

+1.60

Omega ratioGain probability vs. loss probability

1.37

1.16

+0.21

Calmar ratioReturn relative to maximum drawdown

3.75

1.43

+2.31

Martin ratioReturn relative to average drawdown

14.98

4.33

+10.65

SCHM vs. PWC - Sharpe Ratio Comparison

The current SCHM Sharpe Ratio is 2.16, which is higher than the PWC Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of SCHM and PWC, 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. PWC - Drawdown Comparison

The maximum SCHM drawdown since its inception was -42.43%, smaller than the maximum PWC drawdown of -78.13%. Use the drawdown chart below to compare losses from any high point for SCHM and PWC.

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Drawdown Indicators

SCHMPWCDifference

Max Drawdown

Largest peak-to-trough decline

-42.43%

-78.13%

+35.70%

Max Drawdown (1Y)

Largest decline over 1 year

-9.32%

-6.45%

-2.87%

Max Drawdown (3Y)

Largest decline over 3 years

-23.27%

-15.12%

-8.15%

Max Drawdown (5Y)

Largest decline over 5 years

-26.46%

-26.58%

+0.12%

Max Drawdown (10Y)

Largest decline over 10 years

-42.43%

-39.45%

-2.98%

Current Drawdown

Current decline from peak

0.00%

-3.33%

+3.33%

Average Drawdown

Average peak-to-trough decline

-5.64%

-36.14%

+30.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.33%

2.13%

+0.20%

Volatility

SCHM vs. PWC - Volatility Comparison

Schwab US Mid-Cap ETF (SCHM) has a higher volatility of 5.46% compared to Invesco Dynamic Market ETF (PWC) at 2.80%. This indicates that SCHM's price experiences larger fluctuations and is considered to be riskier than PWC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SCHMPWCDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.46%

2.80%

+2.66%

Volatility (6M)

Calculated over the trailing 6-month period

12.47%

7.27%

+5.20%

Volatility (1Y)

Calculated over the trailing 1-year period

16.23%

9.84%

+6.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.65%

16.04%

+3.61%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.51%

18.81%

+1.70%

SCHM vs. PWC - Expense Ratio Comparison

SCHM has a 0.04% expense ratio, which is lower than PWC's 0.60% expense ratio.

Dividends

SCHM vs. PWC - Dividend Comparison

SCHM's dividend yield for the trailing twelve months is around 1.20%, less than PWC's 1.70% yield.

PositionTTM20252024202320222021202020192018201720162015
PWC
Invesco Dynamic Market ETF		1.70%1.77%1.58%1.67%1.51%0.56%1.09%0.95%1.44%1.75%1.35%1.02%
SCHM
Schwab US Mid-Cap ETF		1.20%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

SCHM and PWC have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SCHM has higher volatility (5.46%) compared to PWC (2.80%). In terms of maximum drawdown, SCHM dropped -42.43% vs PWC's -78.13%.

On 10-year performance, SCHM leads with 11.91% vs 9.38% for PWC. On fees, SCHM is cheaper at 0.04% per year. On volatility, PWC has been the lower-risk option at 2.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SCHM has performed better with a 11.91% return vs 9.38%. 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 0.60% for PWC.

PWC has the higher dividend yield at 1.70%, compared with 1.20% for SCHM.

SCHM tracks Dow Jones US Total Stock Market Mid-Cap, while PWC tracks Dynamic Market Intellidex Index. They also come from different issuers: Charles Schwab and Invesco. Their fees differ too: 0.04% for SCHM and 0.60% for PWC.

SCHM currently has the higher Sharpe Ratio (2.16 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.

Portfolio Optimizer

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