SPUC vs. SCHX

Last updated Jul 15, 2026

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 12.89%/yr vs 12.57%/yr for SCHX. With a 0.97 correlation, they move nearly in lockstep. 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.

Returns By Period

In the year-to-date period, SPUC achieves a 9.94% return, which is significantly lower than SCHX's 10.71% return.

SPUC

• 1D: 0.48%
• 1M: 2.23%
• 6M: 7.28%
• YTD: 9.94%
• 1Y: 21.71%
• 3Y*: 21.68%
• 5Y*: 12.89%
• 10Y*: —

SCHX

• 1D: 0.34%
• 1M: 1.71%
• 6M: 8.69%
• YTD: 10.71%
• 1Y: 21.07%
• 3Y*: 20.16%
• 5Y*: 12.57%
• 10Y*: 15.06%

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

SPUC vs. SCHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SPUC Simplify US Equity PLUS Upside Convexity ETF	9.94%	22.64%	25.37%	27.50%	-24.76%	33.71%	10.62%
SCHX Schwab U.S. Large-Cap ETF	10.71%	17.46%	24.88%	26.84%	-19.41%	26.81%	10.57%

Correlation

The correlation between SPUC and SCHX 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year 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	39.9%	38.3%
Financial Services	11.0%	11.1%
Communication Services	10.5%	10.3%
Consumer Cyclical	9.6%	9.8%
Healthcare	8.2%	8.4%
Industrials	7.7%	8.6%
Consumer Defensive	4.4%	4.4%
Energy	3.2%	3.2%
Utilities	2.0%	2.1%
Real Estate	1.8%	2.0%
Basic Materials	1.7%	1.8%

Return for Risk

SPUC vs. SCHX — Risk / Return Rank

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

SPUC

SPUC Risk / Return Rank: 46
SPUC Sharpe Ratio Rank: 46
SPUC Sortino Ratio Rank: 43
SPUC Omega Ratio Rank: 45
SPUC Calmar Ratio Rank: 46
SPUC Martin Ratio Rank: 47

SCHX

SCHX Risk / Return Rank: 63
SCHX Sharpe Ratio Rank: 64
SCHX Sortino Ratio Rank: 62
SCHX Omega Ratio Rank: 63
SCHX Calmar Ratio Rank: 59
SCHX Martin Ratio Rank: 70

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.

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.

	SPUC	SCHX	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.67	-0.36
Sortino ratio: Return per unit of downside risk	1.80	2.31	-0.51
Omega ratio: Gain probability vs. loss probability	1.23	1.30	-0.07
Calmar ratio: Return relative to maximum drawdown	1.89	2.35	-0.46
Martin ratio: Return relative to average drawdown	6.31	10.05	-3.75

SPUC vs. SCHX - Sharpe Ratio Comparison

The current SPUC Sharpe Ratio is 1.31, which is comparable to the SCHX Sharpe Ratio of 1.67. 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.

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.

Drawdown Indicators

	SPUC	SCHX	Difference
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	-0.27%	-0.71%	+0.44%
Average Drawdown Average peak-to-trough decline	-8.35%	-3.95%	-4.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	2.10%	+1.35%

Volatility

SPUC vs. SCHX - Volatility Comparison

Simplify US Equity PLUS Upside Convexity ETF (SPUC) and Schwab U.S. Large-Cap ETF (SCHX) have volatilities of 3.87% and 3.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPUC	SCHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	3.70%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	11.01%	10.01%	+1.00%
Volatility (1Y) Calculated over the trailing 1-year period	16.60%	12.66%	+3.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.01%	17.24%	+4.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.37%	18.14%	+3.23%

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 10.00%, more than SCHX's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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	10.00%	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

Can I hold both SPUC and SCHX in my portfolio?

With a correlation of 0.95, 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.

Which is riskier, SPUC or SCHX?

SPUC has higher volatility (3.87%) compared to SCHX (3.70%). In terms of maximum drawdown, SPUC dropped -29.20% vs SCHX's -34.33%.

Which ETF is better, SPUC or SCHX?

On 5-year performance, SPUC leads with 12.89% vs 12.57% 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.

Which ETF has performed better, SPUC or SCHX?

Over the 5-year period, SPUC has performed better with a 12.89% return vs 12.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPUC or SCHX?

SCHX is cheaper with a 0.03% expense ratio, compared with 0.53% for SPUC.

Which ETF pays a higher dividend yield, SPUC or SCHX?

SPUC has the higher dividend yield at 10.00%, compared with 1.02% for SCHX.

What is the main difference between SPUC and SCHX?

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

Which has better risk-adjusted returns?

SCHX currently has the higher Sharpe Ratio (1.67 vs 1.31), 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.