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SCHM vs. SPMD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

SCHM vs. SPMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab US Mid-Cap ETF (SCHM) and SPDR Portfolio S&P 400 Mid Cap ETF (SPMD). 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 18.48% return, which is significantly higher than SPMD's 14.18% return. Both investments have delivered pretty close results over the past 10 years, with SCHM having a 11.48% annualized return and SPMD not far ahead at 11.68%.


SCHM

1D
-1.33%
1M
5.18%
YTD
18.48%
6M
18.68%
1Y
32.40%
3Y*
16.59%
5Y*
8.59%
10Y*
11.48%

SPMD

1D
-1.26%
1M
4.21%
YTD
14.18%
6M
14.21%
1Y
26.15%
3Y*
14.98%
5Y*
9.15%
10Y*
11.68%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SCHM vs. SPMD - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
SCHM
Schwab US Mid-Cap ETF
18.48%10.17%11.98%16.69%-17.07%19.36%15.26%27.48%-8.77%19.60%
SPMD
SPDR Portfolio S&P 400 Mid Cap ETF
14.18%7.44%13.91%16.48%-13.13%24.76%13.46%25.19%-10.34%15.12%

Correlation

The correlation between SCHM and SPMD 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

0.99

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

0.97

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

0.94

The correlation between SCHM and SPMD has been stable across timeframes, ranging from 0.94 to 0.99 - a consistent structural relationship.

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Return for Risk

SCHM vs. SPMD — Risk / Return Rank

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

SCHM
SCHM Risk / Return Rank: 6969
Overall Rank
SCHM Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
SCHM Sortino Ratio Rank: 6666
Sortino Ratio Rank
SCHM Omega Ratio Rank: 6363
Omega Ratio Rank
SCHM Calmar Ratio Rank: 7474
Calmar Ratio Rank
SCHM Martin Ratio Rank: 7878
Martin Ratio Rank

SPMD
SPMD Risk / Return Rank: 5656
Overall Rank
SPMD Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
SPMD Sortino Ratio Rank: 5252
Sortino Ratio Rank
SPMD Omega Ratio Rank: 4949
Omega Ratio Rank
SPMD Calmar Ratio Rank: 6363
Calmar Ratio Rank
SPMD Martin Ratio Rank: 6464
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. SPMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab US Mid-Cap ETF (SCHM) and SPDR Portfolio S&P 400 Mid Cap ETF (SPMD). 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.


SCHMSPMDDifference
Sharpe ratioReturn per unit of total volatility

+0.36

Sortino ratioReturn per unit of downside risk

+0.41

Omega ratioGain probability vs. loss probability

1.35

1.29

+0.06

Calmar ratioReturn relative to maximum drawdown

3.49

2.97

+0.53

Martin ratioReturn relative to average drawdown

13.97

10.87

+3.09

SCHM vs. SPMD - Sharpe Ratio Comparison

The current SCHM Sharpe Ratio is 2.02, which is comparable to the SPMD Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of SCHM and SPMD, 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. SPMD - Drawdown Comparison

The maximum SCHM drawdown since its inception was -42.43%, smaller than the maximum SPMD drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for SCHM and SPMD.


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Drawdown Indicators


SCHMSPMDDifference

Max Drawdown

Largest peak-to-trough decline

-42.43%

-57.62%

+15.19%

Max Drawdown (1Y)

Largest decline over 1 year

-9.32%

-8.86%

-0.46%

Max Drawdown (3Y)

Largest decline over 3 years

-23.27%

-24.08%

+0.81%

Max Drawdown (5Y)

Largest decline over 5 years

-26.46%

-24.08%

-2.38%

Max Drawdown (10Y)

Largest decline over 10 years

-42.43%

-41.86%

-0.57%

Current Drawdown

Current decline from peak

-2.15%

-1.54%

-0.61%

Average Drawdown

Average peak-to-trough decline

-5.64%

-8.10%

+2.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.33%

2.41%

-0.08%

Volatility

SCHM vs. SPMD - Volatility Comparison

Schwab US Mid-Cap ETF (SCHM) has a higher volatility of 5.62% compared to SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) at 4.94%. This indicates that SCHM's price experiences larger fluctuations and is considered to be riskier than SPMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


SCHMSPMDDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.62%

4.94%

+0.68%

Volatility (6M)

Calculated over the trailing 6-month period

12.41%

11.74%

+0.67%

Volatility (1Y)

Calculated over the trailing 1-year period

16.15%

15.86%

+0.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.66%

19.75%

-0.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.51%

21.20%

-0.69%

SCHM vs. SPMD - Expense Ratio Comparison

SCHM has a 0.04% expense ratio, which is lower than SPMD's 0.05% 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. SPMD - Dividend Comparison

SCHM's dividend yield for the trailing twelve months is around 1.23%, which matches SPMD's 1.23% yield.


PositionTTM20252024202320222021202020192018201720162015
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%
SPMD
SPDR Portfolio S&P 400 Mid Cap ETF
1.23%1.39%1.42%1.47%1.64%1.24%1.30%1.57%1.85%1.97%2.13%5.33%

Frequently Asked Questions


With a correlation of 0.97, SCHM and SPMD 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 (5.62%) compared to SPMD (4.94%). In terms of maximum drawdown, SCHM dropped -42.43% vs SPMD's -57.62%.

On 10-year performance, SPMD leads with 11.68% vs 11.48% for SCHM. On fees, SCHM is cheaper at 0.04% per year. On volatility, SPMD has been the lower-risk option at 4.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPMD has performed better with a 11.68% return vs 11.48%. 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 0.05% for SPMD.

SCHM and SPMD have nearly identical dividend yields, around 1.23%.

SCHM tracks Dow Jones US Total Stock Market Mid-Cap, while SPMD tracks S&P MidCap 400 Index. They also come from different issuers: Charles Schwab and State Street. Their fees differ too: 0.04% for SCHM and 0.05% for SPMD.

SCHM currently has the higher Sharpe Ratio (2.02 vs 1.66), 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

Find the right allocation for SCHM and SPMD

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