SHYD vs. SCHX

Last updated Apr 2, 2026

Compare and contrast key facts about VanEck Short High Yield Muni ETF (SHYD) and Schwab U.S. Large-Cap ETF (SCHX).

SHYD and SCHX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SHYD is a passively managed fund by VanEck that tracks the performance of the Bloomberg Municipal High Yield Short Duration. It was launched on Jan 13, 2014. SCHX is a passively managed fund by Charles Schwab that tracks the performance of the Dow Jones U.S. Large-Cap Total Stock Market Index. It was launched on Nov 3, 2009. Both SHYD and SCHX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

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.

SHYD vs. SCHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SHYD VanEck Short High Yield Muni ETF	-0.41%	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	-3.70%	17.46%	24.88%	26.84%	-19.41%	26.81%	20.81%	31.22%	-4.66%	21.95%

Returns By Period

In the year-to-date period, SHYD achieves a -0.41% return, which is significantly higher than SCHX's -3.70% return. Over the past 10 years, SHYD has underperformed SCHX with an annualized return of 2.05%, while SCHX has yielded a comparatively higher 14.02% annualized return.

SHYD

• 1D: 0.12%
• 1M: -1.15%
• YTD: -0.41%
• 6M: 0.75%
• 1Y: 3.82%
• 3Y*: 3.95%
• 5Y*: 1.02%
• 10Y*: 2.05%

SCHX

• 1D: 0.78%
• 1M: -4.31%
• YTD: -3.70%
• 6M: -1.70%
• 1Y: 17.91%
• 3Y*: 18.55%
• 5Y*: 11.30%
• 10Y*: 14.02%

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

SHYD vs. SCHX - Expense Ratio Comparison

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

SHYD

VanEck Short High Yield Muni ETF

SCHX

Schwab U.S. Large-Cap ETF

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: 39
SHYD Sharpe Ratio Rank: 38
SHYD Sortino Ratio Rank: 31
SHYD Omega Ratio Rank: 44
SHYD Calmar Ratio Rank: 39
SHYD Martin Ratio Rank: 42

SCHX

SCHX Risk / Return Rank: 58
SCHX Sharpe Ratio Rank: 52
SCHX Sortino Ratio Rank: 56
SCHX Omega Ratio Rank: 59
SCHX Calmar Ratio Rank: 57
SCHX Martin Ratio Rank: 67

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.

	SHYD	SCHX	Difference
Sharpe ratio Return per unit of total volatility	0.76	0.98	-0.22
Sortino ratio Return per unit of downside risk	0.97	1.50	-0.53
Omega ratio Gain probability vs. loss probability	1.18	1.23	-0.04
Calmar ratio Return relative to maximum drawdown	1.08	1.51	-0.43
Martin ratio Return relative to average drawdown	4.20	7.02	-2.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHYD vs. SCHX - Sharpe Ratio Comparison

The current SHYD Sharpe Ratio is 0.76, which is comparable to the SCHX Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of SHYD and SCHX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SHYD	SCHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.76	0.98	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.66	-0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	0.78	-0.56
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.80	-0.56

Correlation

The correlation between SHYD and SCHX is 0.04, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SHYD vs. SCHX - Dividend Comparison

SHYD's dividend yield for the trailing twelve months is around 3.58%, more than SCHX's 1.16% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SHYD VanEck Short High Yield Muni ETF	3.58%	3.50%	3.16%	2.99%	2.66%	2.56%	3.05%	3.19%	3.17%	3.11%	2.97%	3.26%
SCHX Schwab U.S. Large-Cap ETF	1.16%	1.09%	1.22%	1.39%	1.64%	1.22%	1.64%	1.82%	2.02%	1.70%	1.92%	2.04%

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.

Drawdown Indicators

	SHYD	SCHX	Difference
Max Drawdown Largest peak-to-trough decline	-31.22%	-34.33%	+3.11%
Max Drawdown (1Y) Largest decline over 1 year	-4.17%	-12.19%	+8.02%
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	-1.53%	-5.67%	+4.14%
Average Drawdown Average peak-to-trough decline	-3.06%	-4.00%	+0.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	2.62%	-1.54%

Volatility

SHYD vs. SCHX - Volatility Comparison

The current volatility for VanEck Short High Yield Muni ETF (SHYD) is 1.28%, while Schwab U.S. Large-Cap ETF (SCHX) has a volatility of 5.36%. 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.

Volatility by Period

	SHYD	SCHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.28%	5.36%	-4.08%
Volatility (6M) Calculated over the trailing 6-month period	1.91%	9.67%	-7.76%
Volatility (1Y) Calculated over the trailing 1-year period	5.10%	18.33%	-13.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.36%	17.13%	-11.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.69%	18.13%	-8.44%