SCHX vs. SHYG
SCHX (Schwab U.S. Large-Cap ETF) and SHYG (iShares 0-5 Year High Yield Corporate Bond 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 SHYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield 0-5 Index. Both are passively managed. Over the past 10 years, SCHX returned 15.35%/yr vs 5.22%/yr for SHYG. A 0.69 correlation means they provide meaningful diversification when combined. SCHX charges 0.03%/yr vs 0.30%/yr for SHYG.
Performance
SCHX vs. SHYG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SCHX achieves a 8.86% return, which is significantly higher than SHYG's 1.72% return. Over the past 10 years, SCHX has outperformed SHYG with an annualized return of 15.35%, while SHYG has yielded a comparatively lower 5.22% annualized return.
SCHX
- 1D
- 0.48%
- 1M
- 0.59%
- YTD
- 8.86%
- 6M
- 9.10%
- 1Y
- 25.11%
- 3Y*
- 20.84%
- 5Y*
- 12.76%
- 10Y*
- 15.35%
SHYG
- 1D
- 0.05%
- 1M
- 0.85%
- YTD
- 1.72%
- 6M
- 2.29%
- 1Y
- 6.70%
- 3Y*
- 8.09%
- 5Y*
- 4.82%
- 10Y*
- 5.22%
SCHX vs. SHYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCHX Schwab U.S. Large-Cap ETF | 8.86% | 17.46% | 24.88% | 26.84% | -19.41% | 26.81% | 20.81% | 31.22% | -4.66% | 21.95% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 1.72% | 7.94% | 8.17% | 10.38% | -4.71% | 4.60% | 3.15% | 9.93% | 0.02% | 5.11% |
Correlation
The correlation between SCHX and SHYG 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 | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2013 | 0.69 |
The correlation between SCHX and SHYG has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SCHX vs. SHYG — Risk / Return Rank
SCHX
SHYG
SCHX vs. SHYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Large-Cap ETF (SCHX) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG). 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 | SHYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.40 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 3.70 | -1.07 |
| Martin ratioReturn relative to average drawdown | 11.65 | 16.02 | -4.38 |
Loading charts...
Drawdowns
SCHX vs. SHYG - Drawdown Comparison
The maximum SCHX drawdown since its inception was -34.33%, which is greater than SHYG's maximum drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for SCHX and SHYG.
Loading charts...
Drawdown Indicators
| SCHX | SHYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.33% | -19.26% | -15.07% |
Max Drawdown (1Y)Largest decline over 1 year | -9.02% | -1.75% | -7.27% |
Max Drawdown (3Y)Largest decline over 3 years | -19.04% | -4.53% | -14.51% |
Max Drawdown (5Y)Largest decline over 5 years | -25.41% | -9.39% | -16.02% |
Max Drawdown (10Y)Largest decline over 10 years | -34.33% | -19.26% | -15.07% |
Current DrawdownCurrent decline from peak | -2.37% | 0.00% | -2.37% |
Average DrawdownAverage peak-to-trough decline | -3.96% | -1.44% | -2.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 0.40% | +1.64% |
Volatility
SCHX vs. SHYG - Volatility Comparison
Schwab U.S. Large-Cap ETF (SCHX) has a higher volatility of 4.47% compared to iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) at 0.98%. This indicates that SCHX's price experiences larger fluctuations and is considered to be riskier than SHYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SCHX | SHYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.47% | 0.98% | +3.49% |
Volatility (6M)Calculated over the trailing 6-month period | 9.71% | 2.55% | +7.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.47% | 3.20% | +9.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.19% | 5.73% | +11.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.17% | 6.42% | +11.75% |
SCHX vs. SHYG - Expense Ratio Comparison
SCHX has a 0.03% expense ratio, which is lower than SHYG's 0.30% expense ratio.
Dividends
SCHX vs. SHYG - Dividend Comparison
SCHX's dividend yield for the trailing twelve months is around 1.02%, less than SHYG's 7.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 7.00% | 7.03% | 6.93% | 6.54% | 5.57% | 4.83% | 5.07% | 5.33% | 5.90% | 5.49% | 5.53% | 5.17% |
Frequently Asked Questions
SCHX and SHYG 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.
SCHX has higher volatility (4.47%) compared to SHYG (0.98%). In terms of maximum drawdown, SCHX dropped -34.33% vs SHYG's -19.26%.
On 10-year performance, SCHX leads with 15.35% vs 5.22% for SHYG. On fees, SCHX is cheaper at 0.03% per year. On volatility, SHYG has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHX has performed better with a 15.35% return vs 5.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHX is cheaper with a 0.03% expense ratio, compared with 0.30% for SHYG.
SHYG has the higher dividend yield at 7.00%, compared with 1.02% for SCHX.
SCHX is categorized as Large Cap Blend Equities, while SHYG is High Yield Bonds. SCHX tracks Dow Jones U.S. Large-Cap Total Stock Market Index, while SHYG tracks Markit iBoxx USD Liquid High Yield 0-5 Index. They also come from different issuers: Charles Schwab and iShares. Their fees differ too: 0.03% for SCHX and 0.30% for SHYG.
SHYG currently has the higher Sharpe Ratio (2.02 vs 1.91), 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.
Find the right allocation for SCHX and SHYG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer