SLYV vs. SCHA

Last updated Jul 22, 2026

SLYV (SPDR S&P 600 Small Cap Value ETF) and SCHA (Schwab U.S. Small-Cap ETF) are both exchange-traded funds - SLYV is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index, while SCHA is a Small Cap Blend Equities fund tracking the Dow Jones U.S. Small-Cap Total Stock Market Index. Both are passively managed. Over the past 10 years, SLYV returned 10.21%/yr vs 10.91%/yr for SCHA. Their correlation of 0.94 suggests significant overlap in exposure. SLYV charges 0.15%/yr vs 0.04%/yr for SCHA.

Performance

SLYV vs. SCHA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P 600 Small Cap Value ETF (SLYV) and Schwab U.S. Small-Cap ETF (SCHA). 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 SLYV having a 21.58% return and SCHA slightly higher at 22.07%. Over the past 10 years, SLYV has underperformed SCHA with an annualized return of 10.21%, while SCHA has yielded a comparatively higher 10.91% annualized return.

SLYV

• 1D: 0.96%
• 1M: 3.09%
• 6M: 15.21%
• YTD: 21.58%
• 1Y: 36.29%
• 3Y*: 13.57%
• 5Y*: 8.65%
• 10Y*: 10.21%
• ALL TIME*: 10.79%

SCHA

• 1D: 2.21%
• 1M: -1.34%
• 6M: 15.12%
• YTD: 22.07%
• 1Y: 34.95%
• 3Y*: 16.78%
• 5Y*: 8.24%
• 10Y*: 10.91%
• ALL TIME*: 12.59%

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

SLYV vs. SCHA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLYV SPDR S&P 600 Small Cap Value ETF	21.58%	6.54%	7.28%	14.82%	-11.08%	30.57%	2.68%	24.26%	-12.77%	11.74%
SCHA Schwab U.S. Small-Cap ETF	22.07%	11.60%	11.16%	18.46%	-19.81%	16.45%	19.34%	26.50%	-11.79%	14.94%

Correlation

The correlation between SLYV and SCHA is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Nov 3, 2009	0.94

The correlation between SLYV and SCHA has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.

SLYV vs. SCHA - Sectors Allocation Comparison

Sectors	SLYV	SCHA
Financial Services	21.2%	15.6%
Consumer Cyclical	14.3%	9.5%
Industrials	12.4%	14.7%
Technology	12.2%	22.4%
Real Estate	8.1%	6.2%
Healthcare	7.8%	15.7%
Energy	7.5%	4.7%
Basic Materials	5.8%	3.9%
Consumer Defensive	5.0%	2.3%
Communication Services	3.8%	2.5%
Utilities	1.8%	2.3%

Return for Risk

SLYV vs. SCHA — Risk / Return Rank

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

SLYV

SLYV Risk / Return Rank: 85
SLYV Sharpe Ratio Rank: 84
SLYV Sortino Ratio Rank: 86
SLYV Omega Ratio Rank: 80
SLYV Calmar Ratio Rank: 89
SLYV Martin Ratio Rank: 86

SCHA

SCHA Risk / Return Rank: 80
SCHA Sharpe Ratio Rank: 78
SCHA Sortino Ratio Rank: 78
SCHA Omega Ratio Rank: 71
SCHA Calmar Ratio Rank: 87
SCHA Martin Ratio Rank: 85

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.

SLYV vs. SCHA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 600 Small Cap Value ETF (SLYV) and Schwab U.S. Small-Cap ETF (SCHA). 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.

	SLYV	SCHA	Difference
Sharpe ratio: Return per unit of total volatility	2.04	1.84	+0.20
Sortino ratio: Return per unit of downside risk	2.96	2.64	+0.32
Omega ratio: Gain probability vs. loss probability	1.35	1.31	+0.04
Calmar ratio: Return relative to maximum drawdown	3.89	3.69	+0.20
Martin ratio: Return relative to average drawdown	12.97	12.60	+0.37

SLYV vs. SCHA - Sharpe Ratio Comparison

The current SLYV Sharpe Ratio is 2.04, which is comparable to the SCHA Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of SLYV and SCHA, 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

SLYV vs. SCHA - Drawdown Comparison

The maximum SLYV drawdown since its inception was -61.15%, which is greater than SCHA's maximum drawdown of -42.41%. Use the drawdown chart below to compare losses from any high point for SLYV and SCHA.

Drawdown Indicators

	SLYV	SCHA	Difference
Max Drawdown Largest peak-to-trough decline	-61.15%	-42.41%	-18.74%
Max Drawdown (1Y) Largest decline over 1 year	-9.36%	-9.50%	+0.14%
Max Drawdown (3Y) Largest decline over 3 years	-28.68%	-27.29%	-1.39%
Max Drawdown (5Y) Largest decline over 5 years	-28.68%	-30.79%	+2.11%
Max Drawdown (10Y) Largest decline over 10 years	-47.73%	-42.41%	-5.32%
Current Drawdown Current decline from peak	-0.54%	-4.18%	+3.64%
Average Drawdown Average peak-to-trough decline	-8.90%	-7.54%	-1.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	2.78%	+0.03%

Volatility

SLYV vs. SCHA - Volatility Comparison

The current volatility for SPDR S&P 600 Small Cap Value ETF (SLYV) is 3.58%, while Schwab U.S. Small-Cap ETF (SCHA) has a volatility of 5.84%. This indicates that SLYV experiences smaller price fluctuations and is considered to be less risky than SCHA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLYV	SCHA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	5.84%	-2.26%
Volatility (6M) Calculated over the trailing 6-month period	11.61%	14.56%	-2.95%
Volatility (1Y) Calculated over the trailing 1-year period	17.87%	19.05%	-1.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.73%	22.03%	-0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.90%	22.75%	+1.15%

SLYV vs. SCHA - Expense Ratio Comparison

SLYV has a 0.15% expense ratio, which is higher than SCHA's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SLYV vs. SCHA - Dividend Comparison

SLYV's dividend yield for the trailing twelve months is around 1.80%, more than SCHA's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHA Schwab U.S. Small-Cap ETF	1.03%	1.26%	1.51%	1.42%	1.37%	1.19%	1.05%	1.39%	1.58%	1.24%	1.50%	1.48%
SLYV SPDR S&P 600 Small Cap Value ETF	1.80%	2.02%	2.30%	2.11%	1.47%	1.94%	1.40%	1.67%	2.14%	5.53%	2.18%	6.55%

Frequently Asked Questions

Can I hold both SLYV and SCHA in my portfolio?

SLYV and SCHA have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SLYV or SCHA?

SCHA has higher volatility (5.84%) compared to SLYV (3.58%). In terms of maximum drawdown, SLYV dropped -61.15% vs SCHA's -42.41%.

Which ETF is better, SLYV or SCHA?

On 10-year performance, SCHA leads with 10.91% vs 10.21% for SLYV. On fees, SCHA is cheaper at 0.04% per year. On volatility, SLYV has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SLYV or SCHA?

Over the 10-year period, SCHA has performed better with a 10.91% return vs 10.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SLYV or SCHA?

SCHA is cheaper with a 0.04% expense ratio, compared with 0.15% for SLYV.

Which ETF pays a higher dividend yield, SLYV or SCHA?

SLYV has the higher dividend yield at 1.80%, compared with 1.03% for SCHA.

What is the main difference between SLYV and SCHA?

SLYV is categorized as Small Cap Value Equities, while SCHA is Small Cap Blend Equities. SLYV tracks S&P SmallCap 600 Value Index, while SCHA tracks Dow Jones U.S. Small-Cap Total Stock Market Index. They also come from different issuers: State Street and Charles Schwab. Their fees differ too: 0.15% for SLYV and 0.04% for SCHA.

Which has better risk-adjusted returns?

SLYV currently has the higher Sharpe Ratio (2.04 vs 1.84), 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.