SCHX vs. VOO

Last updated Jun 9, 2026

SCHX (Schwab U.S. Large-Cap ETF) and VOO (Vanguard S&P 500 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 VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SCHX returned 15.20%/yr vs 15.35%/yr for VOO. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.03% expense ratio.

Performance

SCHX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Large-Cap ETF (SCHX) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SCHX having a 8.56% return and VOO slightly higher at 8.72%. Both investments have delivered pretty close results over the past 10 years, with SCHX having a 15.20% annualized return and VOO not far ahead at 15.35%.

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%

VOO

• 1D: 0.25%
• 1M: 0.24%
• YTD: 8.72%
• 6M: 8.77%
• 1Y: 24.91%
• 3Y*: 21.45%
• 5Y*: 13.49%
• 10Y*: 15.35%

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

SCHX vs. VOO - 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%
VOO Vanguard S&P 500 ETF	8.72%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between SCHX and VOO is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Sep 10, 2010	0.99

The correlation between SCHX and VOO has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

SCHX vs. VOO - Sectors Allocation Comparison

Sectors	SCHX	VOO
Technology	38.3%	35.7%
Communication Services	10.1%	11.3%
Financial Services	9.9%	11.6%
Consumer Cyclical	9.7%	10.2%
Industrials	8.4%	8.3%
Healthcare	8.4%	8.5%
Consumer Defensive	4.4%	4.9%
Energy	3.2%	3.5%
Utilities	2.5%	2.4%
Real Estate	2.0%	1.9%
Basic Materials	1.8%	1.8%

Return for Risk

SCHX vs. VOO — 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

VOO

VOO Risk / Return Rank: 69
VOO Sharpe Ratio Rank: 71
VOO Sortino Ratio Rank: 68
VOO Omega Ratio Rank: 71
VOO Calmar Ratio Rank: 62
VOO Martin Ratio Rank: 75

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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Large-Cap ETF (SCHX) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	1.98	2.08	-0.09
Sortino ratio: Return per unit of downside risk	2.68	2.80	-0.12
Omega ratio: Gain probability vs. loss probability	1.36	1.38	-0.02
Calmar ratio: Return relative to maximum drawdown	2.69	2.81	-0.12
Martin ratio: Return relative to average drawdown	12.15	12.97	-0.82
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. VOO - Sharpe Ratio Comparison

The current SCHX Sharpe Ratio is 1.98, which is comparable to the VOO Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of SCHX and VOO, 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	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	2.08	-0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.80	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.85	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.88	-0.04

Drawdowns

SCHX vs. VOO - Drawdown Comparison

The maximum SCHX drawdown since its inception was -34.33%, roughly equal to the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for SCHX and VOO.

Drawdown Indicators

	SCHX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-34.33%	-33.99%	-0.34%
Max Drawdown (1Y) Largest decline over 1 year	-9.02%	-8.90%	-0.12%
Max Drawdown (3Y) Largest decline over 3 years	-19.04%	-18.69%	-0.35%
Max Drawdown (5Y) Largest decline over 5 years	-25.41%	-24.52%	-0.89%
Max Drawdown (10Y) Largest decline over 10 years	-34.33%	-33.99%	-0.34%
Current Drawdown Current decline from peak	-2.64%	-2.66%	+0.02%
Average Drawdown Average peak-to-trough decline	-3.97%	-3.69%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	1.92%	+0.08%

Volatility

SCHX vs. VOO - Volatility Comparison

Schwab U.S. Large-Cap ETF (SCHX) and Vanguard S&P 500 ETF (VOO) have volatilities of 3.84% and 3.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.84%	3.73%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	9.44%	9.31%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	12.27%	12.08%	+0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.16%	16.85%	+0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.17%	18.03%	+0.14%

SCHX vs. VOO - Expense Ratio Comparison

Both SCHX and VOO have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SCHX vs. VOO - Dividend Comparison

SCHX's dividend yield for the trailing twelve months is around 1.03%, less than VOO's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VOO Vanguard S&P 500 ETF	1.05%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both SCHX and VOO in my portfolio?

With a correlation of 1.00, SCHX and VOO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SCHX or VOO?

SCHX has higher volatility (3.84%) compared to VOO (3.73%). In terms of maximum drawdown, SCHX dropped -34.33% vs VOO's -33.99%.

Which ETF is better, SCHX or VOO?

On 10-year performance, VOO leads with 15.35% vs 15.20% for SCHX. Both ETFs have the same 0.03% expense ratio. On volatility, VOO has been the lower-risk option at 3.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHX or VOO?

Over the 10-year period, VOO has performed better with a 15.35% return vs 15.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHX or VOO?

SCHX and VOO have the same expense ratio: 0.03% per year.

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

VOO has the higher dividend yield at 1.05%, compared with 1.03% for SCHX.

What is the main difference between SCHX and VOO?

SCHX is categorized as Large Cap Blend Equities, while VOO is S&P 500. SCHX tracks Dow Jones U.S. Large-Cap Total Stock Market Index, while VOO tracks S&P 500 Index. They also come from different issuers: Charles Schwab and Vanguard.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.08 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.