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SPUC vs. SCHX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPUC vs. SCHX

Last updated Aug 4, 2026
Documentation

SPUC (Simplify US Equity PLUS Upside Convexity ETF) and SCHX (Schwab U.S. Large-Cap ETF) are both Large Cap Blend Equities funds. SPUC is actively managed, while SCHX is passively managed. Over the past 5 years, SPUC returned 12.76%/yr vs 12.49%/yr for SCHX. Their 0.97 correlation means they have historically moved very closely together. SPUC charges 0.53%/yr vs 0.03%/yr for SCHX.

Performance

SPUC vs. SCHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify US Equity PLUS Upside Convexity ETF (SPUC) 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, SPUC achieves a 10.82% return, which is significantly lower than SCHX's 11.65% return.

SPUC

1D
0.83%
1M
1.91%
6M
8.10%
YTD
10.82%
1Y
22.91%
3Y*
22.30%
5Y*
12.76%
10Y*
—
ALL TIME*
16.11%

SCHX

1D
1.49%
1M
1.63%
6M
9.65%
YTD
11.65%
1Y
22.69%
3Y*
20.73%
5Y*
12.49%
10Y*
15.03%
ALL TIME*
14.61%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

SCHX

Schwab U.S. Large-Cap ETF
$244.71M$275.73M$370.20M

SPUC

Simplify US Equity PLUS Upside Convexity ETF
$22.58M$10.85M$4.02M

SPUC vs. SCHX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
SPUC
Simplify US Equity PLUS Upside Convexity ETF		10.82%22.64%25.37%27.50%-24.76%33.71%10.62%
SCHX
Schwab U.S. Large-Cap ETF		11.65%17.46%24.88%26.84%-19.41%26.81%10.57%

Correlation

The correlation between SPUC and SCHX is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.96

Correlation (3Y)
Balances recent behavior with more history.

0.95

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.97

Correlation (All Time)
Calculated using the full available price history since Sep 4, 2020

0.97

The correlation between SPUC and SCHX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

SPUC vs. SCHX - Sectors Allocation Comparison

Sectors
SPUC
SCHX

Technology

38.5%
36.7%

Financial Services

11.6%
11.7%

Communication Services

9.9%
9.7%

Consumer Cyclical

9.5%
9.6%

Healthcare

8.9%
9.2%

Industrials

8.4%
9.4%

Consumer Defensive

4.5%
4.6%

Energy

3.0%
3.1%

Utilities

2.2%
2.2%

Real Estate

1.8%
2.1%

Basic Materials

1.7%
1.8%

Technology

SPUC
38.5%
SCHX
36.7%

Financial Services

SPUC
11.6%
SCHX
11.7%

Communication Services

SPUC
9.9%
SCHX
9.7%

Consumer Cyclical

SPUC
9.5%
SCHX
9.6%

Healthcare

SPUC
8.9%
SCHX
9.2%

Industrials

SPUC
8.4%
SCHX
9.4%

Consumer Defensive

SPUC
4.5%
SCHX
4.6%

Energy

SPUC
3.0%
SCHX
3.1%

Utilities

SPUC
2.2%
SCHX
2.2%

Real Estate

SPUC
1.8%
SCHX
2.1%

Basic Materials

SPUC
1.7%
SCHX
1.8%

Compare stocks, funds, or ETFs

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

Simplify US Equity PLUS Upside Convexity ETF

Schwab U.S. Large-Cap ETF

Often compared with SPUC:
SPUC vs. SPDSPUC vs. GDESPUC vs. SPYSPUC vs. SVOLSPUC vs. FOCPXSPUC vs. ^GSPCSPUC vs. FCNTX
Often compared with SCHX:
SCHX vs. VOOSCHX vs. SWPPXSCHX vs. SCHGSCHX vs. SCHBSCHX vs. SCHDSCHX vs. SPYSCHX vs. FNDX

Return for Risk

SPUC vs. SCHX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
SPUC
SPUC Risk / Return Rank: 5353
Overall Rank
SPUC Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
SPUC Sortino Ratio Rank: 5151
Sortino Ratio Rank
SPUC Omega Ratio Rank: 5252
Omega Ratio Rank
SPUC Calmar Ratio Rank: 5454
Calmar Ratio Rank
SPUC Martin Ratio Rank: 5454
Martin Ratio Rank
SCHX
SCHX Risk / Return Rank: 7676
Overall Rank
SCHX Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
SCHX Sortino Ratio Rank: 7575
Sortino Ratio Rank
SCHX Omega Ratio Rank: 7575
Omega Ratio Rank
SCHX Calmar Ratio Rank: 7171
Calmar Ratio Rank
SCHX Martin Ratio Rank: 8080
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPUC vs. SCHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS Upside Convexity ETF (SPUC) 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.

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.

SPUCSCHXDifference
Sharpe ratioReturn per unit of total volatility
1.38
1.77

-0.39

Sortino ratioReturn per unit of downside risk
1.88
2.44

-0.56

Omega ratioGain probability vs. loss probability

1.24

1.32

-0.07

Calmar ratioReturn relative to maximum drawdown

1.99

2.53

-0.53

Martin ratioReturn relative to average drawdown

6.65

10.64

-3.99

SPUC vs. SCHX - Sharpe Ratio Comparison

The current SPUC Sharpe Ratio is 1.38, which is comparable to the SCHX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of SPUC 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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Drawdowns

SPUC vs. SCHX - Drawdown Comparison

The maximum SPUC drawdown since its inception was -29.20%, smaller than the maximum SCHX drawdown of -34.33%. Use the drawdown chart below to compare losses from any high point for SPUC and SCHX.

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Drawdown Indicators

SPUCSCHXDifference

Max Drawdown

Largest peak-to-trough decline

-29.20%

-34.33%

+5.13%

Max Drawdown (1Y)

Largest decline over 1 year

-11.56%

-9.02%

-2.54%

Max Drawdown (3Y)

Largest decline over 3 years

-28.17%

-19.04%

-9.13%

Max Drawdown (5Y)

Largest decline over 5 years

-29.20%

-25.41%

-3.79%

Max Drawdown (10Y)

Largest decline over 10 years

—

-34.33%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-8.28%

-3.95%

-4.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.46%

2.14%

+1.32%

Volatility

SPUC vs. SCHX - Volatility Comparison

Simplify US Equity PLUS Upside Convexity ETF (SPUC) has a higher volatility of 4.14% compared to Schwab U.S. Large-Cap ETF (SCHX) at 3.70%. This indicates that SPUC's price experiences larger fluctuations and is considered to be riskier 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

SPUCSCHXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.14%

3.70%

+0.44%

Volatility (6M)

Calculated over the trailing 6-month period

10.95%

10.19%

+0.76%

Volatility (1Y)

Calculated over the trailing 1-year period

16.76%

12.91%

+3.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.96%

17.25%

+4.71%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.33%

18.16%

+3.17%

SPUC vs. SCHX - Expense Ratio Comparison

SPUC has a 0.53% expense ratio, which is higher than SCHX's 0.03% expense ratio.

Dividends

SPUC vs. SCHX - Dividend Comparison

SPUC's dividend yield for the trailing twelve months is around 10.99%, more than SCHX's 1.02% yield.

PositionTTM20252024202320222021202020192018201720162015
SCHX
Schwab U.S. Large-Cap ETF		1.02%1.09%1.22%1.39%1.64%1.22%1.64%1.82%2.02%1.70%1.92%2.04%
SPUC
Simplify US Equity PLUS Upside Convexity ETF		10.99%7.70%0.94%1.33%1.53%2.00%0.75%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.96, SPUC and SCHX 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.

SPUC has higher volatility (4.14%) compared to SCHX (3.70%). In terms of maximum drawdown, SPUC dropped -29.20% vs SCHX's -34.33%.

On 5-year performance, SPUC leads with 12.76% vs 12.49% for SCHX. On fees, SCHX is cheaper at 0.03% per year. On volatility, SCHX has been the lower-risk option at 3.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, SPUC has performed better with a 12.76% return vs 12.49%. 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 0.53% for SPUC.

SPUC has the higher dividend yield at 10.99%, compared with 1.02% for SCHX.

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

SCHX currently has the higher Sharpe Ratio (1.77 vs 1.38), 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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