SCHV vs. JSMD

Last updated Jun 9, 2026

SCHV (Schwab U.S. Large-Cap Value ETF) and JSMD (Janus Henderson Small/Mid Cap Growth Alpha ETF) are both exchange-traded funds - SCHV is a Large Cap Value Equities fund tracking the Dow Jones U.S. Large-Cap Value Total Stock Market Index, while JSMD is a Mid Cap Growth Equities fund tracking the Janus Small Mid Cap Growth Alpha Index. Both are passively managed. Over the past 10 years, SCHV returned 11.38%/yr vs 13.27%/yr for JSMD. A 0.76 correlation means they provide meaningful diversification when combined. SCHV charges 0.04%/yr vs 0.30%/yr for JSMD.

Performance

SCHV vs. JSMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Large-Cap Value ETF (SCHV) and Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHV achieves a 14.24% return, which is significantly lower than JSMD's 15.35% return. Over the past 10 years, SCHV has underperformed JSMD with an annualized return of 11.38%, while JSMD has yielded a comparatively higher 13.27% annualized return.

SCHV

• 1D: 0.45%
• 1M: 3.06%
• YTD: 14.24%
• 6M: 15.31%
• 1Y: 26.78%
• 3Y*: 18.05%
• 5Y*: 10.33%
• 10Y*: 11.38%

JSMD

• 1D: 0.70%
• 1M: 1.65%
• YTD: 15.35%
• 6M: 12.87%
• 1Y: 23.66%
• 3Y*: 17.18%
• 5Y*: 7.35%
• 10Y*: 13.27%

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

SCHV vs. JSMD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHV Schwab U.S. Large-Cap Value ETF	14.24%	16.02%	14.13%	8.93%	-7.65%	25.58%	2.64%	25.92%	-7.30%	16.56%
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF	15.35%	9.25%	15.08%	26.81%	-22.84%	8.40%	30.79%	31.05%	-4.73%	24.46%

Correlation

The correlation between SCHV and JSMD is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Feb 26, 2016	0.76

The correlation between SCHV and JSMD has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

SCHV vs. JSMD - Sectors Allocation Comparison

Sectors	SCHV	JSMD
Financial Services	19.6%	8.9%
Technology	18.2%	24.9%
Industrials	14.0%	22.8%
Healthcare	11.3%	18.7%
Consumer Defensive	8.8%	1.8%
Energy	7.2%	1.6%
Consumer Cyclical	6.9%	9.8%
Utilities	4.6%	-
Real Estate	4.1%	2.8%
Basic Materials	2.8%	2.6%
Communication Services	2.5%	3.3%

Return for Risk

SCHV vs. JSMD — Risk / Return Rank

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

SCHV

SCHV Risk / Return Rank: 84
SCHV Sharpe Ratio Rank: 85
SCHV Sortino Ratio Rank: 86
SCHV Omega Ratio Rank: 82
SCHV Calmar Ratio Rank: 82
SCHV Martin Ratio Rank: 84

JSMD

JSMD Risk / Return Rank: 34
JSMD Sharpe Ratio Rank: 33
JSMD Sortino Ratio Rank: 32
JSMD Omega Ratio Rank: 32
JSMD Calmar Ratio Rank: 36
JSMD Martin Ratio Rank: 38

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.

SCHV vs. JSMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Large-Cap Value ETF (SCHV) and Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD). 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.

	SCHV	JSMD	Difference
Sharpe ratio: Return per unit of total volatility	2.50	1.07	+1.42
Sortino ratio: Return per unit of downside risk	3.51	1.55	+1.95
Omega ratio: Gain probability vs. loss probability	1.44	1.20	+0.25
Calmar ratio: Return relative to maximum drawdown	3.94	1.60	+2.34
Martin ratio: Return relative to average drawdown	15.87	5.38	+10.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCHV vs. JSMD - Sharpe Ratio Comparison

The current SCHV Sharpe Ratio is 2.50, which is higher than the JSMD Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of SCHV and JSMD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SCHV	JSMD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	1.07	+1.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.32	+0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.58	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.63	+0.09

Drawdowns

SCHV vs. JSMD - Drawdown Comparison

The maximum SCHV drawdown since its inception was -37.08%, roughly equal to the maximum JSMD drawdown of -38.98%. Use the drawdown chart below to compare losses from any high point for SCHV and JSMD.

Drawdown Indicators

	SCHV	JSMD	Difference
Max Drawdown Largest peak-to-trough decline	-37.08%	-38.98%	+1.90%
Max Drawdown (1Y) Largest decline over 1 year	-6.83%	-14.86%	+8.03%
Max Drawdown (3Y) Largest decline over 3 years	-15.26%	-24.01%	+8.75%
Max Drawdown (5Y) Largest decline over 5 years	-19.78%	-32.18%	+12.40%
Max Drawdown (10Y) Largest decline over 10 years	-37.08%	-38.98%	+1.90%
Current Drawdown Current decline from peak	-1.49%	-3.42%	+1.93%
Average Drawdown Average peak-to-trough decline	-3.83%	-7.48%	+3.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	4.41%	-2.72%

Volatility

SCHV vs. JSMD - Volatility Comparison

The current volatility for Schwab U.S. Large-Cap Value ETF (SCHV) is 3.33%, while Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) has a volatility of 7.33%. This indicates that SCHV experiences smaller price fluctuations and is considered to be less risky than JSMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHV	JSMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.33%	7.33%	-4.00%
Volatility (6M) Calculated over the trailing 6-month period	8.37%	16.77%	-8.40%
Volatility (1Y) Calculated over the trailing 1-year period	10.80%	22.16%	-11.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.53%	22.92%	-8.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.95%	22.80%	-5.85%

SCHV vs. JSMD - Expense Ratio Comparison

SCHV has a 0.04% expense ratio, which is lower than JSMD's 0.30% expense ratio.

Dividends

SCHV vs. JSMD - Dividend Comparison

SCHV's dividend yield for the trailing twelve months is around 1.78%, more than JSMD's 0.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF	0.48%	0.54%	0.76%	0.44%	0.40%	0.28%	0.24%	0.32%	0.53%	0.30%	0.36%	0.00%
SCHV Schwab U.S. Large-Cap Value ETF	1.78%	2.02%	2.25%	2.42%	2.37%	1.93%	3.03%	3.02%	3.05%	2.37%	2.65%	2.69%

Frequently Asked Questions

Can I hold both SCHV and JSMD in my portfolio?

SCHV and JSMD have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHV or JSMD?

JSMD has higher volatility (7.33%) compared to SCHV (3.33%). In terms of maximum drawdown, SCHV dropped -37.08% vs JSMD's -38.98%.

Which ETF is better, SCHV or JSMD?

On 10-year performance, JSMD leads with 13.27% vs 11.38% for SCHV. On fees, SCHV is cheaper at 0.04% per year. On volatility, SCHV has been the lower-risk option at 3.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHV or JSMD?

Over the 10-year period, JSMD has performed better with a 13.27% return vs 11.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHV or JSMD?

SCHV is cheaper with a 0.04% expense ratio, compared with 0.30% for JSMD.

Which ETF pays a higher dividend yield, SCHV or JSMD?

SCHV has the higher dividend yield at 1.78%, compared with 0.48% for JSMD.

What is the main difference between SCHV and JSMD?

SCHV is categorized as Large Cap Value Equities, while JSMD is Mid Cap Growth Equities. SCHV tracks Dow Jones U.S. Large-Cap Value Total Stock Market Index, while JSMD tracks Janus Small Mid Cap Growth Alpha Index. They also come from different issuers: Charles Schwab and Janus Henderson. Their fees differ too: 0.04% for SCHV and 0.30% for JSMD.

Which has better risk-adjusted returns?

SCHV currently has the higher Sharpe Ratio (2.50 vs 1.07), 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.