SCHM vs. VOO

Last updated Jun 18, 2026

SCHM (Schwab US Mid-Cap ETF) and VOO (Vanguard S&P 500 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 VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SCHM returned 11.48%/yr vs 15.51%/yr for VOO. Their correlation of 0.89 suggests significant overlap in exposure. SCHM charges 0.04%/yr vs 0.03%/yr for VOO.

Performance

SCHM vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab US Mid-Cap ETF (SCHM) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHM achieves a 18.48% return, which is significantly higher than VOO's 9.00% return. Over the past 10 years, SCHM has underperformed VOO with an annualized return of 11.48%, while VOO has yielded a comparatively higher 15.51% annualized return.

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%

VOO

• 1D: -1.21%
• 1M: 0.37%
• YTD: 9.00%
• 6M: 11.04%
• 1Y: 25.53%
• 3Y*: 20.52%
• 5Y*: 13.84%
• 10Y*: 15.51%

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

SCHM vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
VOO Vanguard S&P 500 ETF	9.00%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between SCHM and VOO is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jan 13, 2011	0.89

The correlation between SCHM and VOO shifts across timeframes, from 0.77 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

SCHM vs. VOO - Sectors Allocation Comparison

Sectors	SCHM	VOO
Technology	22.1%	35.6%
Industrials	21.7%	8.0%
Financial Services	10.9%	11.6%
Healthcare	10.9%	8.5%
Consumer Cyclical	10.8%	10.1%
Real Estate	6.4%	1.9%
Basic Materials	4.7%	1.8%
Consumer Defensive	3.4%	4.9%
Energy	3.4%	3.5%
Utilities	2.9%	2.8%
Communication Services	2.6%	11.1%

Return for Risk

SCHM vs. VOO — Risk / Return Rank

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

SCHM

SCHM Risk / Return Rank: 69
SCHM Sharpe Ratio Rank: 66
SCHM Sortino Ratio Rank: 66
SCHM Omega Ratio Rank: 63
SCHM Calmar Ratio Rank: 74
SCHM Martin Ratio Rank: 78

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 68
VOO Sortino Ratio Rank: 66
VOO Omega Ratio Rank: 69
VOO Calmar Ratio Rank: 61
VOO Martin Ratio Rank: 74

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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab US Mid-Cap ETF (SCHM) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.02	2.08	-0.06
Sortino ratio: Return per unit of downside risk	2.83	2.81	+0.02
Omega ratio: Gain probability vs. loss probability	1.35	1.38	-0.03
Calmar ratio: Return relative to maximum drawdown	3.49	2.88	+0.61
Martin ratio: Return relative to average drawdown	13.97	12.99	+0.98

SCHM vs. VOO - Sharpe Ratio Comparison

The current SCHM Sharpe Ratio is 2.02, which is comparable to the VOO Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of SCHM and VOO, 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. VOO - Drawdown Comparison

The maximum SCHM drawdown since its inception was -42.43%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for SCHM and VOO.

Drawdown Indicators

	SCHM	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-42.43%	-33.99%	-8.44%
Max Drawdown (1Y) Largest decline over 1 year	-9.32%	-8.90%	-0.42%
Max Drawdown (3Y) Largest decline over 3 years	-23.27%	-18.69%	-4.58%
Max Drawdown (5Y) Largest decline over 5 years	-26.46%	-24.52%	-1.94%
Max Drawdown (10Y) Largest decline over 10 years	-42.43%	-33.99%	-8.44%
Current Drawdown Current decline from peak	-2.15%	-2.41%	+0.26%
Average Drawdown Average peak-to-trough decline	-5.64%	-3.68%	-1.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.33%	1.97%	+0.36%

Volatility

SCHM vs. VOO - Volatility Comparison

Schwab US Mid-Cap ETF (SCHM) has a higher volatility of 5.62% compared to Vanguard S&P 500 ETF (VOO) at 4.65%. This indicates that SCHM's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHM	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.62%	4.65%	+0.97%
Volatility (6M) Calculated over the trailing 6-month period	12.41%	9.76%	+2.65%
Volatility (1Y) Calculated over the trailing 1-year period	16.15%	12.37%	+3.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.66%	16.91%	+2.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.51%	18.05%	+2.46%

SCHM vs. VOO - Expense Ratio Comparison

SCHM has a 0.04% expense ratio, which is higher than VOO's 0.03% expense ratio. However, 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. VOO - Dividend Comparison

SCHM's dividend yield for the trailing twelve months is around 1.23%, more than VOO's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VOO Vanguard S&P 500 ETF	1.05%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both SCHM and VOO in my portfolio?

SCHM and VOO have a correlation of 0.77, 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 VOO?

SCHM has higher volatility (5.62%) compared to VOO (4.65%). In terms of maximum drawdown, SCHM dropped -42.43% vs VOO's -33.99%.

Which ETF is better, SCHM or VOO?

On 10-year performance, VOO leads with 15.51% vs 11.48% for SCHM. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 4.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHM or VOO?

Over the 10-year period, VOO has performed better with a 15.51% return vs 11.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHM or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.04% for SCHM.

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

SCHM has the higher dividend yield at 1.23%, compared with 1.05% for VOO.

What is the main difference between SCHM and VOO?

SCHM is categorized as Mid Cap Blend Equities, while VOO is S&P 500. SCHM tracks Dow Jones US Total Stock Market Mid-Cap, while VOO tracks S&P 500 Index. They also come from different issuers: Charles Schwab and Vanguard. Their fees differ too: 0.04% for SCHM and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.08 vs 2.02), 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.