SCHZ vs. SCHX

Last updated Jun 4, 2026

SCHZ (Schwab U.S. Aggregate Bond ETF) and SCHX (Schwab U.S. Large-Cap ETF) are both exchange-traded funds - SCHZ is a Total Bond Market fund tracking the Bloomberg US Aggregate Bond Index, while SCHX is a Large Cap Blend Equities fund tracking the Dow Jones U.S. Large-Cap Total Stock Market Index. Both are passively managed. Over the past 10 years, SCHZ returned 1.52%/yr vs 15.41%/yr for SCHX. At a correlation of -0.05, they often move in opposite directions. Both charge a 0.03% expense ratio.

Performance

SCHZ vs. SCHX - Performance Comparison

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

Returns By Period

In the year-to-date period, SCHZ achieves a 0.30% return, which is significantly lower than SCHX's 10.72% return. Over the past 10 years, SCHZ has underperformed SCHX with an annualized return of 1.52%, while SCHX has yielded a comparatively higher 15.41% annualized return.

SCHZ

• 1D: -0.17%
• 1M: 0.26%
• YTD: 0.30%
• 6M: 0.15%
• 1Y: 5.16%
• 3Y*: 3.94%
• 5Y*: 0.07%
• 10Y*: 1.52%

SCHX

• 1D: -0.70%
• 1M: 5.06%
• YTD: 10.72%
• 6M: 10.60%
• 1Y: 27.36%
• 3Y*: 22.38%
• 5Y*: 13.29%
• 10Y*: 15.41%

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

SCHZ vs. SCHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHZ Schwab U.S. Aggregate Bond ETF	0.30%	7.24%	1.26%	5.60%	-13.17%	-1.72%	7.46%	8.65%	-0.26%	3.50%
SCHX Schwab U.S. Large-Cap ETF	10.72%	17.46%	24.88%	26.84%	-19.41%	26.81%	20.81%	31.22%	-4.66%	21.95%

Correlation

The correlation between SCHZ and SCHX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since Jul 15, 2011	-0.05

The correlation between SCHZ and SCHX shifts across timeframes, from -0.05 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.

SCHZ vs. SCHX - Sectors Allocation Comparison

Sectors	SCHZ	SCHX
Financial Services	8.3%	9.9%
Technology	3.0%	37.5%
Healthcare	2.3%	8.4%
Utilities	2.1%	2.6%
Communication Services	2.1%	10.3%
Industrials	1.7%	8.5%
Consumer Cyclical	1.4%	9.7%
Energy	1.3%	3.4%
Consumer Defensive	1.1%	4.5%
Real Estate	0.8%	2.0%
Basic Materials	0.4%	1.8%

Return for Risk

SCHZ vs. SCHX — Risk / Return Rank

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

SCHZ

SCHZ Risk / Return Rank: 37
SCHZ Sharpe Ratio Rank: 37
SCHZ Sortino Ratio Rank: 39
SCHZ Omega Ratio Rank: 35
SCHZ Calmar Ratio Rank: 38
SCHZ Martin Ratio Rank: 37

SCHX

SCHX Risk / Return Rank: 67
SCHX Sharpe Ratio Rank: 68
SCHX Sortino Ratio Rank: 66
SCHX Omega Ratio Rank: 67
SCHX Calmar Ratio Rank: 60
SCHX Martin Ratio Rank: 72

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.

SCHZ vs. SCHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Aggregate Bond ETF (SCHZ) and Schwab U.S. Large-Cap ETF (SCHX). 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.

	SCHZ	SCHX	Difference
Sharpe ratio: Return per unit of total volatility	1.37	2.29	-0.93
Sortino ratio: Return per unit of downside risk	2.04	3.14	-1.09
Omega ratio: Gain probability vs. loss probability	1.24	1.41	-0.17
Calmar ratio: Return relative to maximum drawdown	1.92	3.05	-1.12
Martin ratio: Return relative to average drawdown	5.87	13.85	-7.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCHZ vs. SCHX - Sharpe Ratio Comparison

The current SCHZ Sharpe Ratio is 1.37, which is lower than the SCHX Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of SCHZ and SCHX, 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

	SCHZ	SCHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	2.29	-0.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.78	-0.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.85	-0.57
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.85	-0.41

Drawdowns

SCHZ vs. SCHX - Drawdown Comparison

The maximum SCHZ drawdown since its inception was -18.74%, smaller than the maximum SCHX drawdown of -34.33%. Use the drawdown chart below to compare losses from any high point for SCHZ and SCHX.

Drawdown Indicators

	SCHZ	SCHX	Difference
Max Drawdown Largest peak-to-trough decline	-18.74%	-34.33%	+15.59%
Max Drawdown (1Y) Largest decline over 1 year	-2.70%	-9.02%	+6.32%
Max Drawdown (3Y) Largest decline over 3 years	-6.18%	-19.04%	+12.86%
Max Drawdown (5Y) Largest decline over 5 years	-18.01%	-25.41%	+7.40%
Max Drawdown (10Y) Largest decline over 10 years	-18.74%	-34.33%	+15.59%
Current Drawdown Current decline from peak	-2.47%	-0.70%	-1.77%
Average Drawdown Average peak-to-trough decline	-3.68%	-3.97%	+0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	1.98%	-1.10%

Volatility

SCHZ vs. SCHX - Volatility Comparison

The current volatility for Schwab U.S. Aggregate Bond ETF (SCHZ) is 1.24%, while Schwab U.S. Large-Cap ETF (SCHX) has a volatility of 2.91%. This indicates that SCHZ experiences smaller price fluctuations and is considered to be less risky than SCHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHZ	SCHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.24%	2.91%	-1.67%
Volatility (6M) Calculated over the trailing 6-month period	2.67%	9.02%	-6.35%
Volatility (1Y) Calculated over the trailing 1-year period	3.79%	11.99%	-8.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.08%	17.12%	-11.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.41%	18.15%	-12.74%

SCHZ vs. SCHX - Expense Ratio Comparison

Both SCHZ and SCHX 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

SCHZ vs. SCHX - Dividend Comparison

SCHZ's dividend yield for the trailing twelve months is around 4.12%, more than SCHX's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SCHZ Schwab U.S. Aggregate Bond ETF	4.12%	4.05%	3.96%	3.28%	2.63%	2.16%	2.43%	2.79%	2.56%	2.40%	2.24%	2.11%

Frequently Asked Questions

Can I hold both SCHZ and SCHX in my portfolio?

SCHZ and SCHX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHZ or SCHX?

SCHX has higher volatility (2.91%) compared to SCHZ (1.24%). In terms of maximum drawdown, SCHZ dropped -18.74% vs SCHX's -34.33%.

Which ETF is better, SCHZ or SCHX?

On 10-year performance, SCHX leads with 15.41% vs 1.52% for SCHZ. Both ETFs have the same 0.03% expense ratio. On volatility, SCHZ has been the lower-risk option at 1.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHZ or SCHX?

Over the 10-year period, SCHX has performed better with a 15.41% return vs 1.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHZ or SCHX?

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

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

SCHZ has the higher dividend yield at 4.12%, compared with 1.01% for SCHX.

What is the main difference between SCHZ and SCHX?

SCHZ is categorized as Total Bond Market, while SCHX is Large Cap Blend Equities. SCHZ tracks Bloomberg US Aggregate Bond Index, while SCHX tracks Dow Jones U.S. Large-Cap Total Stock Market Index.

Which has better risk-adjusted returns?

SCHX currently has the higher Sharpe Ratio (2.29 vs 1.37), 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.