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SHYD vs. SCHX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SHYD vs. SCHX

Last updated Jun 5, 2026

SHYD (VanEck Short High Yield Muni ETF) and SCHX (Schwab U.S. Large-Cap ETF) are both exchange-traded funds - SHYD is a Municipal Bonds fund tracking the Bloomberg Municipal High Yield Short Duration, 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, SHYD returned 2.07%/yr vs 15.41%/yr for SCHX. At a 0.04 correlation, their price movements are largely independent. SHYD charges 0.35%/yr vs 0.03%/yr for SCHX.

Performance

SHYD vs. SCHX - Performance Comparison

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

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Returns By Period

In the year-to-date period, SHYD achieves a 0.97% return, which is significantly lower than SCHX's 11.20% return. Over the past 10 years, SHYD has underperformed SCHX with an annualized return of 2.07%, while SCHX has yielded a comparatively higher 15.41% annualized return.

SHYD

1D
0.22%
1M
0.70%
YTD
0.97%
6M
1.71%
1Y
5.18%
3Y*
4.46%
5Y*
0.97%
10Y*
2.07%

SCHX

1D
0.44%
1M
4.70%
YTD
11.20%
6M
10.96%
1Y
27.92%
3Y*
22.63%
5Y*
13.39%
10Y*
15.41%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SHYD vs. SCHX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SHYD
VanEck Short High Yield Muni ETF		0.97%5.58%4.85%2.39%-9.11%4.04%1.56%7.55%3.26%4.89%
SCHX
Schwab U.S. Large-Cap ETF		11.20%17.46%24.88%26.84%-19.41%26.81%20.81%31.22%-4.66%21.95%

Correlation

The correlation between SHYD and SCHX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.25

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

0.11

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

0.12

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

0.08

Correlation (All Time)
Calculated using the full available price history since Jan 15, 2014

0.04

Over the past year, SHYD and SCHX have become more correlated (0.25) than their long-term average of 0.04, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

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

VanEck Short High Yield Muni ETF

Schwab U.S. Large-Cap ETF

Often compared with SHYD:
SHYD vs. SGOVSHYD vs. MUSTSHYD vs. FLMISHYD vs. FLRTSHYD vs. MUBSHYD vs. QQQSHYD vs. BKLN
Often compared with SCHX:
SCHX vs. VOOSCHX vs. SWPPXSCHX vs. SCHGSCHX vs. SCHBSCHX vs. SCHDSCHX vs. SPYSCHX vs. FNDX

Return for Risk

SHYD vs. SCHX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SHYD
SHYD Risk / Return Rank: 5353
Overall Rank
SHYD Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
SHYD Sortino Ratio Rank: 5555
Sortino Ratio Rank
SHYD Omega Ratio Rank: 5858
Omega Ratio Rank
SHYD Calmar Ratio Rank: 4949
Calmar Ratio Rank
SHYD Martin Ratio Rank: 4848
Martin Ratio Rank
SCHX
SCHX Risk / Return Rank: 7171
Overall Rank
SCHX Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
SCHX Sortino Ratio Rank: 7272
Sortino Ratio Rank
SCHX Omega Ratio Rank: 7272
Omega Ratio Rank
SCHX Calmar Ratio Rank: 6464
Calmar Ratio Rank
SCHX Martin Ratio Rank: 7575
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.

SHYD vs. SCHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Short High Yield Muni ETF (SHYD) 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.

SHYDSCHXDifference
Sharpe ratioReturn per unit of total volatility
1.74
2.34

-0.60

Sortino ratioReturn per unit of downside risk
2.61
3.19

-0.58

Omega ratioGain probability vs. loss probability

1.35

1.42

-0.07

Calmar ratioReturn relative to maximum drawdown

2.40

3.11

-0.71

Martin ratioReturn relative to average drawdown

7.88

14.13

-6.26

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHYD vs. SCHX - Sharpe Ratio Comparison

The current SHYD Sharpe Ratio is 1.74, which is comparable to the SCHX Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of SHYD 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.

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Sharpe Ratios by Period

SHYDSCHXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.74

2.34

-0.60

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.18

0.79

-0.60

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.21

0.85

-0.64

Sharpe Ratio (All Time)

Calculated using the full available price history

0.26

0.85

-0.60

Drawdowns

SHYD vs. SCHX - Drawdown Comparison

The maximum SHYD drawdown since its inception was -31.22%, smaller than the maximum SCHX drawdown of -34.33%. Use the drawdown chart below to compare losses from any high point for SHYD and SCHX.

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Drawdown Indicators

SHYDSCHXDifference

Max Drawdown

Largest peak-to-trough decline

-31.22%

-34.33%

+3.11%

Max Drawdown (1Y)

Largest decline over 1 year

-2.17%

-9.02%

+6.85%

Max Drawdown (3Y)

Largest decline over 3 years

-4.17%

-19.04%

+14.87%

Max Drawdown (5Y)

Largest decline over 5 years

-13.32%

-25.41%

+12.09%

Max Drawdown (10Y)

Largest decline over 10 years

-31.22%

-34.33%

+3.11%

Current Drawdown

Current decline from peak

-0.17%

-0.27%

+0.10%

Average Drawdown

Average peak-to-trough decline

-3.03%

-3.97%

+0.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.66%

1.98%

-1.32%

Volatility

SHYD vs. SCHX - Volatility Comparison

The current volatility for VanEck Short High Yield Muni ETF (SHYD) is 0.86%, while Schwab U.S. Large-Cap ETF (SCHX) has a volatility of 2.86%. This indicates that SHYD 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.

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Volatility by Period

SHYDSCHXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.86%

2.86%

-2.00%

Volatility (6M)

Calculated over the trailing 6-month period

1.93%

9.03%

-7.10%

Volatility (1Y)

Calculated over the trailing 1-year period

3.00%

11.98%

-8.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.37%

17.12%

-11.75%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.69%

18.14%

-8.45%

SHYD vs. SCHX - Expense Ratio Comparison

SHYD has a 0.35% expense ratio, which is higher than SCHX's 0.03% expense ratio.

Dividends

SHYD vs. SCHX - Dividend Comparison

SHYD's dividend yield for the trailing twelve months is around 3.50%, more than SCHX's 1.00% yield.

PositionTTM20252024202320222021202020192018201720162015
SCHX
Schwab U.S. Large-Cap ETF		1.00%1.09%1.22%1.39%1.64%1.22%1.64%1.82%2.02%1.70%1.92%2.04%
SHYD
VanEck Short High Yield Muni ETF		3.50%3.50%3.16%2.99%2.66%2.56%3.05%3.19%3.17%3.11%2.97%3.26%

Frequently Asked Questions

SHYD and SCHX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SCHX has higher volatility (2.86%) compared to SHYD (0.86%). In terms of maximum drawdown, SHYD dropped -31.22% vs SCHX's -34.33%.

On 10-year performance, SCHX leads with 15.41% vs 2.07% for SHYD. On fees, SCHX is cheaper at 0.03% per year. On volatility, SHYD has been the lower-risk option at 0.86%. 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 15.41% return vs 2.07%. 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 SHYD.

SHYD has the higher dividend yield at 3.50%, compared with 1.00% for SCHX.

SHYD is categorized as Municipal Bonds, while SCHX is Large Cap Blend Equities. SHYD tracks Bloomberg Municipal High Yield Short Duration, while SCHX tracks Dow Jones U.S. Large-Cap Total Stock Market Index. They also come from different issuers: VanEck and Charles Schwab. Their fees differ too: 0.35% for SHYD and 0.03% for SCHX.

SCHX currently has the higher Sharpe Ratio (2.34 vs 1.74), 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.

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