SCHX vs. SPEM

Last updated Jul 21, 2026

SCHX (Schwab U.S. Large-Cap ETF) and SPEM (SPDR Portfolio Emerging Markets 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 SPEM is a Emerging Markets Equities fund tracking the S&P Emerging BMI Index. Both are passively managed. Over the past 10 years, SCHX returned 14.84%/yr vs 8.33%/yr for SPEM. A 0.72 correlation means they provide meaningful diversification when combined. SCHX charges 0.03%/yr vs 0.07%/yr for SPEM.

Performance

SCHX vs. SPEM - Performance Comparison

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

Returns By Period

In the year-to-date period, SCHX achieves a 9.33% return, which is significantly higher than SPEM's 8.25% return. Over the past 10 years, SCHX has outperformed SPEM with an annualized return of 14.84%, while SPEM has yielded a comparatively lower 8.33% annualized return.

SCHX

• 1D: -0.17%
• 1M: -0.52%
• 6M: 7.65%
• YTD: 9.33%
• 1Y: 19.03%
• 3Y*: 19.39%
• 5Y*: 12.25%
• 10Y*: 14.84%
• ALL TIME*: 14.51%

SPEM

• 1D: -0.04%
• 1M: -4.53%
• 6M: 4.07%
• YTD: 8.25%
• 1Y: 18.43%
• 3Y*: 15.93%
• 5Y*: 5.77%
• 10Y*: 8.33%
• ALL TIME*: 5.47%

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

SCHX vs. SPEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHX Schwab U.S. Large-Cap ETF	9.33%	17.46%	24.88%	26.84%	-19.41%	26.81%	20.81%	31.22%	-4.66%	21.95%
SPEM SPDR Portfolio Emerging Markets ETF	8.25%	25.63%	11.40%	10.51%	-17.90%	1.51%	14.55%	19.69%	-13.26%	34.82%

Correlation

The correlation between SCHX and SPEM 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	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Nov 3, 2009	0.72

The correlation between SCHX and SPEM shifts across timeframes, from 0.65 (5 years) to 0.77 (1 year), reflecting how their relationship changes across market environments.

SCHX vs. SPEM - Sectors Allocation Comparison

Sectors	SCHX	SPEM
Technology	36.7%	32.7%
Financial Services	11.7%	19.9%
Communication Services	9.7%	6.6%
Consumer Cyclical	9.6%	8.9%
Industrials	9.4%	8.3%
Healthcare	9.2%	3.9%
Consumer Defensive	4.6%	3.7%
Energy	3.1%	3.8%
Utilities	2.2%	2.7%
Real Estate	2.1%	1.8%
Basic Materials	1.8%	7.7%

Return for Risk

SCHX vs. SPEM — Risk / Return Rank

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

SCHX

SCHX Risk / Return Rank: 60
SCHX Sharpe Ratio Rank: 61
SCHX Sortino Ratio Rank: 58
SCHX Omega Ratio Rank: 59
SCHX Calmar Ratio Rank: 56
SCHX Martin Ratio Rank: 68

SPEM

SPEM Risk / Return Rank: 40
SPEM Sharpe Ratio Rank: 39
SPEM Sortino Ratio Rank: 37
SPEM Omega Ratio Rank: 39
SPEM Calmar Ratio Rank: 42
SPEM Martin Ratio Rank: 45

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. SPEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Large-Cap ETF (SCHX) and SPDR Portfolio Emerging Markets ETF (SPEM). 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	SPEM	Difference
Sharpe ratio: Return per unit of total volatility	1.51	1.07	+0.44
Sortino ratio: Return per unit of downside risk	2.10	1.53	+0.57
Omega ratio: Gain probability vs. loss probability	1.27	1.20	+0.07
Calmar ratio: Return relative to maximum drawdown	2.12	1.63	+0.49
Martin ratio: Return relative to average drawdown	9.05	5.56	+3.49

SCHX vs. SPEM - Sharpe Ratio Comparison

The current SCHX Sharpe Ratio is 1.51, which is higher than the SPEM Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of SCHX and SPEM, 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. SPEM - Drawdown Comparison

The maximum SCHX drawdown since its inception was -34.33%, smaller than the maximum SPEM drawdown of -64.41%. Use the drawdown chart below to compare losses from any high point for SCHX and SPEM.

Drawdown Indicators

	SCHX	SPEM	Difference
Max Drawdown Largest peak-to-trough decline	-34.33%	-64.41%	+30.08%
Max Drawdown (1Y) Largest decline over 1 year	-9.02%	-11.36%	+2.34%
Max Drawdown (3Y) Largest decline over 3 years	-19.04%	-17.62%	-1.42%
Max Drawdown (5Y) Largest decline over 5 years	-25.41%	-30.03%	+4.62%
Max Drawdown (10Y) Largest decline over 10 years	-34.33%	-36.06%	+1.73%
Current Drawdown Current decline from peak	-1.95%	-5.57%	+3.62%
Average Drawdown Average peak-to-trough decline	-3.95%	-14.67%	+10.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	3.32%	-1.21%

Volatility

SCHX vs. SPEM - Volatility Comparison

The current volatility for Schwab U.S. Large-Cap ETF (SCHX) is 3.18%, while SPDR Portfolio Emerging Markets ETF (SPEM) has a volatility of 5.83%. This indicates that SCHX experiences smaller price fluctuations and is considered to be less risky than SPEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHX	SPEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	5.83%	-2.65%
Volatility (6M) Calculated over the trailing 6-month period	10.06%	15.11%	-5.05%
Volatility (1Y) Calculated over the trailing 1-year period	12.72%	17.41%	-4.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.21%	17.39%	-0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.14%	18.77%	-0.63%

SCHX vs. SPEM - Expense Ratio Comparison

SCHX has a 0.03% expense ratio, which is lower than SPEM's 0.07% 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. SPEM - Dividend Comparison

SCHX's dividend yield for the trailing twelve months is around 1.04%, less than SPEM's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHX Schwab U.S. Large-Cap ETF	1.04%	1.09%	1.22%	1.39%	1.64%	1.22%	1.64%	1.82%	2.02%	1.70%	1.92%	2.04%
SPEM SPDR Portfolio Emerging Markets ETF	2.59%	2.77%	2.78%	2.80%	3.38%	3.14%	1.92%	2.94%	2.34%	1.12%	1.51%	2.40%

Frequently Asked Questions

Can I hold both SCHX and SPEM in my portfolio?

SCHX and SPEM 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.

Which is riskier, SCHX or SPEM?

SPEM has higher volatility (5.83%) compared to SCHX (3.18%). In terms of maximum drawdown, SCHX dropped -34.33% vs SPEM's -64.41%.

Which ETF is better, SCHX or SPEM?

On 10-year performance, SCHX leads with 14.84% vs 8.33% for SPEM. On fees, SCHX is cheaper at 0.03% per year. On volatility, SCHX has been the lower-risk option at 3.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHX or SPEM?

Over the 10-year period, SCHX has performed better with a 14.84% return vs 8.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHX or SPEM?

SCHX is cheaper with a 0.03% expense ratio, compared with 0.07% for SPEM.

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

SPEM has the higher dividend yield at 2.59%, compared with 1.04% for SCHX.

What is the main difference between SCHX and SPEM?

SCHX is categorized as Large Cap Blend Equities, while SPEM is Emerging Markets Equities. SCHX tracks Dow Jones U.S. Large-Cap Total Stock Market Index, while SPEM tracks S&P Emerging BMI Index. They also come from different issuers: Charles Schwab and State Street. Their fees differ too: 0.03% for SCHX and 0.07% for SPEM.

Which has better risk-adjusted returns?

SCHX currently has the higher Sharpe Ratio (1.51 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.