SPOT vs. SCHA

Last updated Jun 9, 2026

SPOT (Spotify Technology S.A.) is a stock, while SCHA (Schwab U.S. Small-Cap ETF) is Small Cap Blend Equities fund tracking the Dow Jones U.S. Small-Cap Total Stock Market Index. Over the past 5 years, SPOT returned 16.18%/yr vs 6.45%/yr for SCHA. At a 0.38 correlation, their price movements are largely independent.

Performance

SPOT vs. SCHA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spotify Technology S.A. (SPOT) and Schwab U.S. Small-Cap ETF (SCHA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPOT achieves a -13.36% return, which is significantly lower than SCHA's 17.78% return.

SPOT

• 1D: 1.24%
• 1M: 20.42%
• YTD: -13.36%
• 6M: -12.09%
• 1Y: -29.36%
• 3Y*: 49.53%
• 5Y*: 16.18%
• 10Y*: —

SCHA

• 1D: 0.93%
• 1M: 0.12%
• YTD: 17.78%
• 6M: 16.92%
• 1Y: 36.31%
• 3Y*: 17.52%
• 5Y*: 6.45%
• 10Y*: 10.95%

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

SPOT vs. SCHA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SPOT Spotify Technology S.A.	-13.36%	29.80%	138.08%	138.01%	-66.27%	-25.62%	110.40%	31.76%	-23.83%
SCHA Schwab U.S. Small-Cap ETF	17.78%	11.60%	11.16%	18.46%	-19.81%	16.45%	19.34%	26.50%	-10.33%

Correlation

The correlation between SPOT and SCHA is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (All Time) Calculated using the full available price history since Apr 4, 2018	0.38

Over the past year, the correlation between SPOT and SCHA has dropped to 0.08 - well below their long-term average of 0.38, suggesting their price drivers have been diverging.

Return for Risk

SPOT vs. SCHA — Risk / Return Rank

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

SPOT

SPOT Risk / Return Rank: 16
SPOT Sharpe Ratio Rank: 14
SPOT Sortino Ratio Rank: 15
SPOT Omega Ratio Rank: 16
SPOT Calmar Ratio Rank: 19
SPOT Martin Ratio Rank: 19

SCHA

SCHA Risk / Return Rank: 71
SCHA Sharpe Ratio Rank: 67
SCHA Sortino Ratio Rank: 68
SCHA Omega Ratio Rank: 61
SCHA Calmar Ratio Rank: 81
SCHA Martin Ratio Rank: 79

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.

SPOT vs. SCHA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spotify Technology S.A. (SPOT) 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.

	SPOT	SCHA	Difference
Sharpe ratio: Return per unit of total volatility	-0.65	2.00	-2.65
Sortino ratio: Return per unit of downside risk	-0.75	2.79	-3.54
Omega ratio: Gain probability vs. loss probability	0.90	1.34	-0.43
Calmar ratio: Return relative to maximum drawdown	-0.63	3.84	-4.47
Martin ratio: Return relative to average drawdown	-1.10	14.05	-15.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPOT vs. SCHA - Sharpe Ratio Comparison

The current SPOT Sharpe Ratio is -0.65, which is lower than the SCHA Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of SPOT 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.

Sharpe Ratios by Period

	SPOT	SCHA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.65	2.00	-2.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.29	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.57	-0.23

Drawdowns

SPOT vs. SCHA - Drawdown Comparison

The maximum SPOT drawdown since its inception was -80.51%, which is greater than SCHA's maximum drawdown of -42.41%. Use the drawdown chart below to compare losses from any high point for SPOT and SCHA.

Drawdown Indicators

	SPOT	SCHA	Difference
Max Drawdown Largest peak-to-trough decline	-80.51%	-42.41%	-38.10%
Max Drawdown (1Y) Largest decline over 1 year	-46.80%	-9.50%	-37.30%
Max Drawdown (3Y) Largest decline over 3 years	-46.80%	-27.29%	-19.51%
Max Drawdown (5Y) Largest decline over 5 years	-76.39%	-30.79%	-45.60%
Max Drawdown (10Y) Largest decline over 10 years	—	-42.41%	—
Current Drawdown Current decline from peak	-35.16%	-2.50%	-32.66%
Average Drawdown Average peak-to-trough decline	-30.81%	-7.58%	-23.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.76%	2.59%	+24.17%

Volatility

SPOT vs. SCHA - Volatility Comparison

Spotify Technology S.A. (SPOT) has a higher volatility of 15.97% compared to Schwab U.S. Small-Cap ETF (SCHA) at 5.79%. This indicates that SPOT's price experiences larger fluctuations and is considered to be riskier than SCHA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPOT	SCHA	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.97%	5.79%	+10.18%
Volatility (6M) Calculated over the trailing 6-month period	37.40%	13.28%	+24.12%
Volatility (1Y) Calculated over the trailing 1-year period	45.30%	18.31%	+26.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.60%	21.98%	+25.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.26%	22.74%	+24.52%

Dividends

SPOT vs. SCHA - Dividend Comparison

SPOT has not paid dividends to shareholders, while SCHA's dividend yield for the trailing twelve months is around 1.02%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHA Schwab U.S. Small-Cap ETF	1.02%	1.26%	1.51%	1.42%	1.37%	1.19%	1.05%	1.39%	1.58%	1.24%	1.50%	1.48%
SPOT Spotify Technology S.A.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPOT and SCHA in my portfolio?

SPOT and SCHA have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPOT or SCHA?

SPOT has higher volatility (15.97%) compared to SCHA (5.79%). In terms of maximum drawdown, SPOT dropped -80.51% vs SCHA's -42.41%.

Which has better risk-adjusted returns?

SCHA currently has the higher Sharpe Ratio (2.00 vs -0.65), 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.