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SCHX vs. SMH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SCHX vs. SMH

Last updated Jun 16, 2026

SCHX (Schwab U.S. Large-Cap ETF) and SMH (VanEck Semiconductor 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 SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 10 years, SCHX returned 15.57%/yr vs 38.18%/yr for SMH. A 0.77 correlation means they provide meaningful diversification when combined. SCHX charges 0.03%/yr vs 0.35%/yr for SMH.

Performance

SCHX vs. SMH - Performance Comparison

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

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Returns By Period

In the year-to-date period, SCHX achieves a 10.76% return, which is significantly lower than SMH's 79.69% return. Over the past 10 years, SCHX has underperformed SMH with an annualized return of 15.57%, while SMH has yielded a comparatively higher 38.18% annualized return.

SCHX

1D
1.75%
1M
2.34%
YTD
10.76%
6M
11.21%
1Y
27.29%
3Y*
21.15%
5Y*
13.28%
10Y*
15.57%

SMH

1D
4.38%
1M
16.31%
YTD
79.69%
6M
83.94%
1Y
152.58%
3Y*
62.32%
5Y*
39.72%
10Y*
38.18%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SCHX vs. SMH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SCHX
Schwab U.S. Large-Cap ETF		10.76%17.46%24.88%26.84%-19.41%26.81%20.81%31.22%-4.66%21.95%
SMH
VanEck Semiconductor ETF		79.69%49.17%39.10%73.38%-33.53%42.13%55.53%64.45%-9.05%38.48%

Correlation

The correlation between SCHX and SMH is 0.76, 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

0.76

Correlation (3Y)
Calculated over the trailing 3-year period

0.78

Correlation (5Y)
Calculated over the trailing 5-year period

0.80

Correlation (10Y)
Calculated over the trailing 10-year period

0.78

Correlation (All Time)
Calculated using the full available price history since Nov 3, 2009

0.77

The correlation between SCHX and SMH has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.

SCHX vs. SMH - Sectors Allocation Comparison

Sectors
SCHX
SMH

Technology

42.9%
100.0%

Communication Services

11.7%

-

Consumer Cyclical

9.3%

-

Financial Services

9.0%

-

Healthcare

8.5%

-

Industrials

6.4%

-

Consumer Defensive

4.4%

-

Energy

3.0%

-

Utilities

1.3%

-

Basic Materials

1.0%

-

Real Estate

0.9%

-

Technology

SCHX
42.9%
SMH
100.0%

Communication Services

SCHX
11.7%
SMH

-

Consumer Cyclical

SCHX
9.3%
SMH

-

Financial Services

SCHX
9.0%
SMH

-

Healthcare

SCHX
8.5%
SMH

-

Industrials

SCHX
6.4%
SMH

-

Consumer Defensive

SCHX
4.4%
SMH

-

Energy

SCHX
3.0%
SMH

-

Utilities

SCHX
1.3%
SMH

-

Basic Materials

SCHX
1.0%
SMH

-

Real Estate

SCHX
0.9%
SMH

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Schwab U.S. Large-Cap ETF

VanEck Semiconductor ETF

Often compared with SCHX:
SCHX vs. VOOSCHX vs. SWPPXSCHX vs. SCHGSCHX vs. SCHBSCHX vs. SCHDSCHX vs. SPYSCHX vs. FNDX
Often compared with SMH:
SMH vs. SOXXSMH vs. QQQSMH vs. VGTSMH vs. FSELXSMH vs. SPYSMH vs. SMHXSMH vs. XLK

Return for Risk

SCHX vs. SMH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SCHX
SCHX Risk / Return Rank: 7474
Overall Rank
SCHX Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
SCHX Sortino Ratio Rank: 7474
Sortino Ratio Rank
SCHX Omega Ratio Rank: 7676
Omega Ratio Rank
SCHX Calmar Ratio Rank: 6767
Calmar Ratio Rank
SCHX Martin Ratio Rank: 7878
Martin Ratio Rank
SMH
SMH Risk / Return Rank: 9696
Overall Rank
SMH Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
SMH Sortino Ratio Rank: 9595
Sortino Ratio Rank
SMH Omega Ratio Rank: 9595
Omega Ratio Rank
SMH Calmar Ratio Rank: 9797
Calmar Ratio Rank
SMH Martin Ratio Rank: 9797
Martin Ratio Rank
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. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Large-Cap ETF (SCHX) and VanEck Semiconductor ETF (SMH). 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.

SCHXSMHDifference
Sharpe ratioReturn per unit of total volatility
2.19
4.61

-2.42

Sortino ratioReturn per unit of downside risk
2.96
4.60

-1.65

Omega ratioGain probability vs. loss probability

1.40

1.65

-0.26

Calmar ratioReturn relative to maximum drawdown

3.04

10.28

-7.24

Martin ratioReturn relative to average drawdown

13.44

37.77

-24.32

SCHX vs. SMH - Sharpe Ratio Comparison

The current SCHX Sharpe Ratio is 2.19, which is lower than the SMH Sharpe Ratio of 4.61. The chart below compares the historical Sharpe Ratios of SCHX and SMH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SCHX vs. SMH - Drawdown Comparison

The maximum SCHX drawdown since its inception was -34.33%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for SCHX and SMH.

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Drawdown Indicators

SCHXSMHDifference

Max Drawdown

Largest peak-to-trough decline

-34.33%

-84.96%

+50.63%

Max Drawdown (1Y)

Largest decline over 1 year

-9.02%

-14.93%

+5.91%

Max Drawdown (3Y)

Largest decline over 3 years

-19.04%

-35.74%

+16.70%

Max Drawdown (5Y)

Largest decline over 5 years

-25.41%

-45.30%

+19.89%

Max Drawdown (10Y)

Largest decline over 10 years

-34.33%

-45.30%

+10.97%

Current Drawdown

Current decline from peak

-0.67%

0.00%

-0.67%

Average Drawdown

Average peak-to-trough decline

-3.96%

-41.04%

+37.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.04%

4.06%

-2.02%

Volatility

SCHX vs. SMH - Volatility Comparison

The current volatility for Schwab U.S. Large-Cap ETF (SCHX) is 4.73%, while VanEck Semiconductor ETF (SMH) has a volatility of 16.71%. This indicates that SCHX experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SCHXSMHDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.73%

16.71%

-11.98%

Volatility (6M)

Calculated over the trailing 6-month period

9.85%

27.97%

-18.12%

Volatility (1Y)

Calculated over the trailing 1-year period

12.54%

33.39%

-20.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.21%

35.53%

-18.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.19%

32.86%

-14.67%

SCHX vs. SMH - Expense Ratio Comparison

SCHX has a 0.03% expense ratio, which is lower than SMH's 0.35% expense ratio.

Dividends

SCHX vs. SMH - Dividend Comparison

SCHX's dividend yield for the trailing twelve months is around 1.01%, more than SMH's 0.17% yield.

PositionTTM20252024202320222021202020192018201720162015
SCHX
Schwab U.S. Large-Cap ETF		1.01%1.09%1.22%1.39%1.64%1.22%1.64%1.82%2.02%1.70%1.92%2.04%
SMH
VanEck Semiconductor ETF		0.17%0.31%0.44%0.60%1.18%0.51%0.69%1.50%1.88%1.43%0.80%2.14%

Frequently Asked Questions

SCHX and SMH have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SMH has higher volatility (16.71%) compared to SCHX (4.73%). In terms of maximum drawdown, SCHX dropped -34.33% vs SMH's -84.96%.

On 10-year performance, SMH leads with 38.18% vs 15.57% for SCHX. On fees, SCHX is cheaper at 0.03% per year. On volatility, SCHX has been the lower-risk option at 4.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SMH has performed better with a 38.18% return vs 15.57%. 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 0.35% for SMH.

SCHX has the higher dividend yield at 1.01%, compared with 0.17% for SMH.

SCHX is categorized as Large Cap Blend Equities, while SMH is Semiconductors. SCHX tracks Dow Jones U.S. Large-Cap Total Stock Market Index, while SMH tracks MVIS US Listed Semiconductor 25 Index. They also come from different issuers: Charles Schwab and VanEck. Their fees differ too: 0.03% for SCHX and 0.35% for SMH.

SMH currently has the higher Sharpe Ratio (4.61 vs 2.19), 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.

Portfolio Optimizer

Find the right allocation for SCHX and SMH

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