SPD vs. SCHK

Last updated Jun 23, 2026

SPD (Simplify US Equity PLUS Downside Convexity ETF) and SCHK (Schwab 1000 Index ETF) are both Large Cap Blend Equities funds. SPD is actively managed, while SCHK is passively managed. Over the past 5 years, SPD returned 8.23%/yr vs 12.78%/yr for SCHK. Their correlation of 0.92 suggests significant overlap in exposure. SPD charges 0.53%/yr vs 0.03%/yr for SCHK.

Performance

SPD vs. SCHK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify US Equity PLUS Downside Convexity ETF (SPD) and Schwab 1000 Index ETF (SCHK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPD achieves a 6.22% return, which is significantly lower than SCHK's 10.10% return.

SPD

• 1D: -0.32%
• 1M: 0.66%
• YTD: 6.22%
• 6M: 5.60%
• 1Y: 16.20%
• 3Y*: 17.11%
• 5Y*: 8.23%
• 10Y*: —

SCHK

• 1D: -0.33%
• 1M: 0.47%
• YTD: 10.10%
• 6M: 9.43%
• 1Y: 26.58%
• 3Y*: 21.32%
• 5Y*: 12.78%
• 10Y*: —

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

SPD vs. SCHK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SPD Simplify US Equity PLUS Downside Convexity ETF	6.22%	18.86%	17.49%	20.94%	-25.96%	24.81%	8.06%
SCHK Schwab 1000 Index ETF	10.10%	17.23%	24.48%	26.63%	-19.51%	26.17%	10.98%

Correlation

The correlation between SPD and SCHK is 0.95 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Sep 4, 2020	0.92

The correlation between SPD and SCHK has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

SPD vs. SCHK - Sectors Allocation Comparison

Sectors	SPD	SCHK
Technology	39.9%	38.0%
Financial Services	11.0%	11.2%
Communication Services	10.5%	10.1%
Consumer Cyclical	9.6%	9.8%
Healthcare	8.2%	8.4%
Industrials	7.7%	8.9%
Consumer Defensive	4.4%	4.3%
Energy	3.2%	3.2%
Utilities	2.0%	2.1%
Real Estate	1.8%	2.0%
Basic Materials	1.7%	1.9%

Return for Risk

SPD vs. SCHK — Risk / Return Rank

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

SPD

SPD Risk / Return Rank: 32
SPD Sharpe Ratio Rank: 35
SPD Sortino Ratio Rank: 34
SPD Omega Ratio Rank: 32
SPD Calmar Ratio Rank: 28
SPD Martin Ratio Rank: 31

SCHK

SCHK Risk / Return Rank: 66
SCHK Sharpe Ratio Rank: 66
SCHK Sortino Ratio Rank: 63
SCHK Omega Ratio Rank: 65
SCHK Calmar Ratio Rank: 62
SCHK Martin Ratio Rank: 73

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.

SPD vs. SCHK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS Downside Convexity ETF (SPD) and Schwab 1000 Index ETF (SCHK). 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.

	SPD	SCHK	Difference
Sharpe ratio: Return per unit of total volatility	1.20	2.10	-0.90
Sortino ratio: Return per unit of downside risk	1.75	2.84	-1.08
Omega ratio: Gain probability vs. loss probability	1.21	1.38	-0.17
Calmar ratio: Return relative to maximum drawdown	1.37	2.98	-1.61
Martin ratio: Return relative to average drawdown	4.23	13.32	-9.09

SPD vs. SCHK - Sharpe Ratio Comparison

The current SPD Sharpe Ratio is 1.20, which is lower than the SCHK Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of SPD and SCHK, 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

SPD vs. SCHK - Drawdown Comparison

The maximum SPD drawdown since its inception was -27.38%, smaller than the maximum SCHK drawdown of -34.80%. Use the drawdown chart below to compare losses from any high point for SPD and SCHK.

Drawdown Indicators

	SPD	SCHK	Difference
Max Drawdown Largest peak-to-trough decline	-27.38%	-34.80%	+7.42%
Max Drawdown (1Y) Largest decline over 1 year	-11.90%	-8.97%	-2.93%
Max Drawdown (3Y) Largest decline over 3 years	-15.18%	-19.21%	+4.03%
Max Drawdown (5Y) Largest decline over 5 years	-27.38%	-25.44%	-1.94%
Current Drawdown Current decline from peak	-1.14%	-1.59%	+0.45%
Average Drawdown Average peak-to-trough decline	-7.67%	-5.16%	-2.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	2.00%	+1.84%

Volatility

SPD vs. SCHK - Volatility Comparison

The current volatility for Simplify US Equity PLUS Downside Convexity ETF (SPD) is 4.47%, while Schwab 1000 Index ETF (SCHK) has a volatility of 4.74%. This indicates that SPD experiences smaller price fluctuations and is considered to be less risky than SCHK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPD	SCHK	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	4.74%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	9.33%	10.01%	-0.68%
Volatility (1Y) Calculated over the trailing 1-year period	13.60%	12.77%	+0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.13%	17.33%	-1.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.00%	19.12%	-3.12%

SPD vs. SCHK - Expense Ratio Comparison

SPD has a 0.53% expense ratio, which is higher than SCHK's 0.03% expense ratio.

Dividends

SPD vs. SCHK - Dividend Comparison

SPD's dividend yield for the trailing twelve months is around 0.96%, less than SCHK's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHK Schwab 1000 Index ETF	1.01%	1.09%	1.20%	1.38%	1.57%	1.17%	1.58%	1.82%	1.80%	0.31%
SPD Simplify US Equity PLUS Downside Convexity ETF	0.96%	0.97%	1.14%	1.91%	1.64%	0.88%	0.43%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPD and SCHK in my portfolio?

With a correlation of 0.95, SPD and SCHK 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, SPD or SCHK?

SCHK has higher volatility (4.74%) compared to SPD (4.47%). In terms of maximum drawdown, SPD dropped -27.38% vs SCHK's -34.80%.

Which ETF is better, SPD or SCHK?

On 5-year performance, SCHK leads with 12.78% vs 8.23% for SPD. On fees, SCHK is cheaper at 0.03% per year. On volatility, SPD has been the lower-risk option at 4.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPD or SCHK?

Over the 5-year period, SCHK has performed better with a 12.78% return vs 8.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPD or SCHK?

SCHK is cheaper with a 0.03% expense ratio, compared with 0.53% for SPD.

Which ETF pays a higher dividend yield, SPD or SCHK?

SCHK has the higher dividend yield at 1.01%, compared with 0.96% for SPD.

What is the main difference between SPD and SCHK?

They also come from different issuers: Simplify and Charles Schwab. Their fees differ too: 0.53% for SPD and 0.03% for SCHK.

Which has better risk-adjusted returns?

SCHK currently has the higher Sharpe Ratio (2.10 vs 1.20), 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.