SCHX vs. PXF

Last updated Jun 9, 2026

SCHX (Schwab U.S. Large-Cap ETF) and PXF (Invesco FTSE RAFI Developed Markets ex-U.S. ETF) are both exchange-traded funds - SCHX is a Large Cap Blend Equities fund tracking the Dow Jones U.S. Large-Cap Total Stock Market Index, while PXF is a Foreign Large Cap Equities fund tracking the FTSE RAFI Developed Markets ex-U.S. Index. Both are passively managed. Over the past 10 years, SCHX returned 15.20%/yr vs 11.69%/yr for PXF. A 0.78 correlation means they provide meaningful diversification when combined. SCHX charges 0.03%/yr vs 0.45%/yr for PXF.

Performance

SCHX vs. PXF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Large-Cap ETF (SCHX) and Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHX achieves a 8.56% return, which is significantly lower than PXF's 16.56% return. Over the past 10 years, SCHX has outperformed PXF with an annualized return of 15.20%, while PXF has yielded a comparatively lower 11.69% annualized return.

SCHX

• 1D: 0.28%
• 1M: 0.45%
• YTD: 8.56%
• 6M: 8.52%
• 1Y: 24.19%
• 3Y*: 21.40%
• 5Y*: 12.87%
• 10Y*: 15.20%

PXF

• 1D: 0.90%
• 1M: -0.60%
• YTD: 16.56%
• 6M: 20.08%
• 1Y: 38.53%
• 3Y*: 23.53%
• 5Y*: 12.81%
• 10Y*: 11.69%

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

SCHX vs. PXF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHX Schwab U.S. Large-Cap ETF	8.56%	17.46%	24.88%	26.84%	-19.41%	26.81%	20.81%	31.22%	-4.66%	21.95%
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF	16.56%	42.51%	4.54%	18.46%	-9.09%	15.93%	2.58%	17.50%	-14.84%	24.52%

Correlation

The correlation between SCHX and PXF is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Nov 4, 2009	0.78

The correlation between SCHX and PXF shifts across timeframes, from 0.67 (3 years) to 0.78 (all time), reflecting how their relationship changes across market environments.

SCHX vs. PXF - Sectors Allocation Comparison

Sectors	SCHX	PXF
Technology	38.3%	11.4%
Communication Services	10.1%	4.3%
Financial Services	9.9%	19.7%
Consumer Cyclical	9.7%	10.2%
Industrials	8.4%	15.1%
Healthcare	8.4%	7.2%
Consumer Defensive	4.4%	6.1%
Energy	3.2%	10.6%
Utilities	2.5%	3.6%
Real Estate	2.0%	1.8%
Basic Materials	1.8%	10.1%

Return for Risk

SCHX vs. PXF — Risk / Return Rank

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

SCHX

SCHX Risk / Return Rank: 66
SCHX Sharpe Ratio Rank: 66
SCHX Sortino Ratio Rank: 64
SCHX Omega Ratio Rank: 67
SCHX Calmar Ratio Rank: 60
SCHX Martin Ratio Rank: 72

PXF

PXF Risk / Return Rank: 80
PXF Sharpe Ratio Rank: 84
PXF Sortino Ratio Rank: 80
PXF Omega Ratio Rank: 82
PXF Calmar Ratio Rank: 77
PXF Martin Ratio Rank: 78

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.

SCHX vs. PXF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Large-Cap ETF (SCHX) and Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF). 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.

	SCHX	PXF	Difference
Sharpe ratio: Return per unit of total volatility	1.98	2.46	-0.47
Sortino ratio: Return per unit of downside risk	2.68	3.19	-0.51
Omega ratio: Gain probability vs. loss probability	1.36	1.45	-0.09
Calmar ratio: Return relative to maximum drawdown	2.69	3.55	-0.86
Martin ratio: Return relative to average drawdown	12.15	13.49	-1.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCHX vs. PXF - Sharpe Ratio Comparison

The current SCHX Sharpe Ratio is 1.98, which is comparable to the PXF Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of SCHX and PXF, 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

	SCHX	PXF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	2.46	-0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.78	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.65	+0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.23	+0.61

Drawdowns

SCHX vs. PXF - Drawdown Comparison

The maximum SCHX drawdown since its inception was -34.33%, smaller than the maximum PXF drawdown of -64.74%. Use the drawdown chart below to compare losses from any high point for SCHX and PXF.

Drawdown Indicators

	SCHX	PXF	Difference
Max Drawdown Largest peak-to-trough decline	-34.33%	-64.74%	+30.41%
Max Drawdown (1Y) Largest decline over 1 year	-9.02%	-10.91%	+1.89%
Max Drawdown (3Y) Largest decline over 3 years	-19.04%	-14.06%	-4.98%
Max Drawdown (5Y) Largest decline over 5 years	-25.41%	-26.82%	+1.41%
Max Drawdown (10Y) Largest decline over 10 years	-34.33%	-41.59%	+7.26%
Current Drawdown Current decline from peak	-2.64%	-3.88%	+1.24%
Average Drawdown Average peak-to-trough decline	-3.97%	-15.26%	+11.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	2.86%	-0.86%

Volatility

SCHX vs. PXF - Volatility Comparison

The current volatility for Schwab U.S. Large-Cap ETF (SCHX) is 3.84%, while Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) has a volatility of 6.06%. This indicates that SCHX experiences smaller price fluctuations and is considered to be less risky than PXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHX	PXF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.84%	6.06%	-2.22%
Volatility (6M) Calculated over the trailing 6-month period	9.44%	13.53%	-4.09%
Volatility (1Y) Calculated over the trailing 1-year period	12.27%	15.80%	-3.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.16%	16.54%	+0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.17%	18.07%	+0.10%

SCHX vs. PXF - Expense Ratio Comparison

SCHX has a 0.03% expense ratio, which is lower than PXF's 0.45% expense ratio.

Dividends

SCHX vs. PXF - Dividend Comparison

SCHX's dividend yield for the trailing twelve months is around 1.03%, less than PXF's 3.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF	3.18%	3.64%	3.48%	3.55%	3.58%	3.74%	2.11%	3.50%	3.38%	2.78%	3.21%	3.10%
SCHX Schwab U.S. Large-Cap ETF	1.03%	1.09%	1.22%	1.39%	1.64%	1.22%	1.64%	1.82%	2.02%	1.70%	1.92%	2.04%

Frequently Asked Questions

Can I hold both SCHX and PXF in my portfolio?

SCHX and PXF have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHX or PXF?

PXF has higher volatility (6.06%) compared to SCHX (3.84%). In terms of maximum drawdown, SCHX dropped -34.33% vs PXF's -64.74%.

Which ETF is better, SCHX or PXF?

On 10-year performance, SCHX leads with 15.20% vs 11.69% for PXF. On fees, SCHX is cheaper at 0.03% per year. On volatility, SCHX has been the lower-risk option at 3.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHX or PXF?

Over the 10-year period, SCHX has performed better with a 15.20% return vs 11.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHX or PXF?

SCHX is cheaper with a 0.03% expense ratio, compared with 0.45% for PXF.

Which ETF pays a higher dividend yield, SCHX or PXF?

PXF has the higher dividend yield at 3.18%, compared with 1.03% for SCHX.

What is the main difference between SCHX and PXF?

SCHX is categorized as Large Cap Blend Equities, while PXF is Foreign Large Cap Equities. SCHX tracks Dow Jones U.S. Large-Cap Total Stock Market Index, while PXF tracks FTSE RAFI Developed Markets ex-U.S. Index. They also come from different issuers: Charles Schwab and Invesco. Their fees differ too: 0.03% for SCHX and 0.45% for PXF.

Which has better risk-adjusted returns?

PXF currently has the higher Sharpe Ratio (2.46 vs 1.98), 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.