SCHX vs. SCHD

Last updated Jun 23, 2026

SCHX (Schwab U.S. Large-Cap ETF) and SCHD (Schwab U.S. Dividend Equity 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 SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 10 years, SCHX returned 15.62%/yr vs 12.68%/yr for SCHD. Their correlation of 0.81 suggests significant overlap in exposure. SCHX charges 0.03%/yr vs 0.06%/yr for SCHD.

Performance

SCHX vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Large-Cap ETF (SCHX) and Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHX achieves a 9.45% return, which is significantly lower than SCHD's 17.24% return. Over the past 10 years, SCHX has outperformed SCHD with an annualized return of 15.62%, while SCHD has yielded a comparatively lower 12.68% annualized return.

SCHX

• 1D: -0.41%
• 1M: 0.14%
• YTD: 9.45%
• 6M: 8.85%
• 1Y: 25.85%
• 3Y*: 21.28%
• 5Y*: 12.86%
• 10Y*: 15.62%

SCHD

• 1D: 0.09%
• 1M: -2.86%
• YTD: 17.24%
• 6M: 16.44%
• 1Y: 24.06%
• 3Y*: 14.45%
• 5Y*: 8.77%
• 10Y*: 12.68%

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

SCHX vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHX Schwab U.S. Large-Cap ETF	9.45%	17.46%	24.88%	26.84%	-19.41%	26.81%	20.81%	31.22%	-4.66%	21.95%
SCHD Schwab U.S. Dividend Equity ETF	17.24%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between SCHX and SCHD is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.81

Over the past year, the correlation between SCHX and SCHD has dropped to 0.35 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.

SCHX vs. SCHD - Sectors Allocation Comparison

Sectors	SCHX	SCHD
Technology	37.8%	19.4%
Financial Services	10.4%	9.1%
Communication Services	9.8%	6.0%
Consumer Cyclical	9.4%	6.7%
Industrials	8.8%	7.4%
Healthcare	8.5%	18.4%
Consumer Defensive	4.5%	18.5%
Energy	3.1%	14.6%
Utilities	2.6%	0.0%
Real Estate	2.0%	-
Basic Materials	1.8%	1.2%

Return for Risk

SCHX vs. SCHD — Risk / Return Rank

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

SCHX

SCHX Risk / Return Rank: 64
SCHX Sharpe Ratio Rank: 65
SCHX Sortino Ratio Rank: 62
SCHX Omega Ratio Rank: 64
SCHX Calmar Ratio Rank: 60
SCHX Martin Ratio Rank: 70

SCHD

SCHD Risk / Return Rank: 76
SCHD Sharpe Ratio Rank: 70
SCHD Sortino Ratio Rank: 79
SCHD Omega Ratio Rank: 68
SCHD Calmar Ratio Rank: 90
SCHD Martin Ratio Rank: 71

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. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Large-Cap ETF (SCHX) and Schwab U.S. Dividend Equity ETF (SCHD). 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.

	SCHX	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	2.07	2.18	-0.12
Sortino ratio: Return per unit of downside risk	2.80	3.34	-0.54
Omega ratio: Gain probability vs. loss probability	1.37	1.39	-0.02
Calmar ratio: Return relative to maximum drawdown	2.88	5.24	-2.36
Martin ratio: Return relative to average drawdown	12.67	12.71	-0.04

SCHX vs. SCHD - Sharpe Ratio Comparison

The current SCHX Sharpe Ratio is 2.07, which is comparable to the SCHD Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of SCHX and SCHD, 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

SCHX vs. SCHD - Drawdown Comparison

The maximum SCHX drawdown since its inception was -34.33%, roughly equal to the maximum SCHD drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for SCHX and SCHD.

Drawdown Indicators

	SCHX	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-34.33%	-33.37%	-0.96%
Max Drawdown (1Y) Largest decline over 1 year	-9.02%	-4.61%	-4.41%
Max Drawdown (3Y) Largest decline over 3 years	-19.04%	-16.13%	-2.91%
Max Drawdown (5Y) Largest decline over 5 years	-25.41%	-16.85%	-8.56%
Max Drawdown (10Y) Largest decline over 10 years	-34.33%	-33.37%	-0.96%
Current Drawdown Current decline from peak	-1.84%	-2.86%	+1.02%
Average Drawdown Average peak-to-trough decline	-3.96%	-3.31%	-0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	1.90%	+0.15%

Volatility

SCHX vs. SCHD - Volatility Comparison

Schwab U.S. Large-Cap ETF (SCHX) has a higher volatility of 4.71% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 3.58%. This indicates that SCHX's price experiences larger fluctuations and is considered to be riskier than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHX	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.71%	3.58%	+1.13%
Volatility (6M) Calculated over the trailing 6-month period	9.86%	7.74%	+2.12%
Volatility (1Y) Calculated over the trailing 1-year period	12.60%	11.09%	+1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.22%	14.36%	+2.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.20%	16.73%	+1.47%

SCHX vs. SCHD - Expense Ratio Comparison

SCHX has a 0.03% expense ratio, which is lower than SCHD's 0.06% 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

SCHX vs. SCHD - Dividend Comparison

SCHX's dividend yield for the trailing twelve months is around 1.02%, less than SCHD's 3.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHD Schwab U.S. Dividend Equity ETF	3.31%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%
SCHX Schwab U.S. Large-Cap ETF	1.02%	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 SCHD in my portfolio?

SCHX and SCHD have a correlation of 0.35, 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 SCHD?

SCHX has higher volatility (4.71%) compared to SCHD (3.58%). In terms of maximum drawdown, SCHX dropped -34.33% vs SCHD's -33.37%.

Which ETF is better, SCHX or SCHD?

On 10-year performance, SCHX leads with 15.62% vs 12.68% for SCHD. On fees, SCHX is cheaper at 0.03% per year. On volatility, SCHD has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHX or SCHD?

Over the 10-year period, SCHX has performed better with a 15.62% return vs 12.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHX or SCHD?

SCHX is cheaper with a 0.03% expense ratio, compared with 0.06% for SCHD.

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

SCHD has the higher dividend yield at 3.31%, compared with 1.02% for SCHX.

What is the main difference between SCHX and SCHD?

SCHX is categorized as Large Cap Blend Equities, while SCHD is Dividend. SCHX tracks Dow Jones U.S. Large-Cap Total Stock Market Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. Their fees differ too: 0.03% for SCHX and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.18 vs 2.07), 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.