SPYX vs. SCHD

Last updated Jun 23, 2026

SPYX (State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - SPYX is a S&P 500 fund tracking the S&P 500 Fossil Fuel Reserves Free Index, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 10 years, SPYX returned 15.77%/yr vs 12.68%/yr for SCHD. A 0.74 correlation means they provide meaningful diversification when combined. SPYX charges 0.20%/yr vs 0.06%/yr for SCHD.

Performance

SPYX vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) and Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYX achieves a 8.96% return, which is significantly lower than SCHD's 17.24% return. Over the past 10 years, SPYX has outperformed SCHD with an annualized return of 15.77%, while SCHD has yielded a comparatively lower 12.68% annualized return.

SPYX

• 1D: -0.40%
• 1M: 0.12%
• YTD: 8.96%
• 6M: 8.42%
• 1Y: 26.02%
• 3Y*: 21.19%
• 5Y*: 13.12%
• 10Y*: 15.77%

SCHD

• 1D: 0.09%
• 1M: -2.86%
• YTD: 17.24%
• 6M: 16.44%
• 1Y: 24.06%
• 3Y*: 14.45%
• 5Y*: 8.77%
• 10Y*: 12.68%

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

SPYX vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	8.96%	17.87%	25.46%	26.38%	-19.59%	28.06%	19.87%	31.62%	-4.26%	23.25%
SCHD Schwab U.S. Dividend Equity ETF	17.24%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between SPYX and SCHD is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Dec 1, 2015	0.74

Over the past year, the correlation between SPYX and SCHD has dropped to 0.33 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

SPYX vs. SCHD - Sectors Allocation Comparison

Sectors	SPYX	SCHD
Technology	39.7%	19.4%
Financial Services	11.4%	9.1%
Communication Services	10.9%	6.0%
Consumer Cyclical	10.1%	6.7%
Healthcare	8.5%	18.4%
Industrials	7.9%	7.4%
Consumer Defensive	4.6%	18.5%
Utilities	2.2%	0.0%
Real Estate	1.9%	-
Basic Materials	1.7%	1.2%
Energy	1.1%	14.6%

Return for Risk

SPYX vs. SCHD — Risk / Return Rank

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

SPYX

SPYX Risk / Return Rank: 62
SPYX Sharpe Ratio Rank: 65
SPYX Sortino Ratio Rank: 62
SPYX Omega Ratio Rank: 64
SPYX Calmar Ratio Rank: 55
SPYX Martin Ratio Rank: 66

SCHD

SCHD Risk / Return Rank: 76
SCHD Sharpe Ratio Rank: 70
SCHD Sortino Ratio Rank: 79
SCHD Omega Ratio Rank: 68
SCHD Calmar Ratio Rank: 90
SCHD Martin Ratio Rank: 71

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.

SPYX vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) and Schwab U.S. Dividend Equity ETF (SCHD). 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.

	SPYX	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	2.05	2.18	-0.13
Sortino ratio: Return per unit of downside risk	2.79	3.34	-0.55
Omega ratio: Gain probability vs. loss probability	1.37	1.39	-0.02
Calmar ratio: Return relative to maximum drawdown	2.66	5.24	-2.58
Martin ratio: Return relative to average drawdown	11.88	12.71	-0.83

SPYX vs. SCHD - Sharpe Ratio Comparison

The current SPYX Sharpe Ratio is 2.05, which is comparable to the SCHD Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of SPYX and SCHD, 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

SPYX vs. SCHD - Drawdown Comparison

The maximum SPYX drawdown since its inception was -32.84%, roughly equal to the maximum SCHD drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for SPYX and SCHD.

Drawdown Indicators

	SPYX	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-32.84%	-33.37%	+0.53%
Max Drawdown (1Y) Largest decline over 1 year	-9.84%	-4.61%	-5.23%
Max Drawdown (3Y) Largest decline over 3 years	-18.74%	-16.13%	-2.61%
Max Drawdown (5Y) Largest decline over 5 years	-26.14%	-16.85%	-9.29%
Max Drawdown (10Y) Largest decline over 10 years	-32.84%	-33.37%	+0.53%
Current Drawdown Current decline from peak	-1.75%	-2.86%	+1.11%
Average Drawdown Average peak-to-trough decline	-4.52%	-3.31%	-1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	1.90%	+0.30%

Volatility

SPYX vs. SCHD - Volatility Comparison

State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) has a higher volatility of 4.78% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 3.58%. This indicates that SPYX's price experiences larger fluctuations and is considered to be riskier than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYX	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.78%	3.58%	+1.20%
Volatility (6M) Calculated over the trailing 6-month period	10.08%	7.74%	+2.34%
Volatility (1Y) Calculated over the trailing 1-year period	12.76%	11.09%	+1.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.14%	14.36%	+2.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.06%	16.73%	+1.33%

SPYX vs. SCHD - Expense Ratio Comparison

SPYX has a 0.20% expense ratio, which is higher than SCHD's 0.06% 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

SPYX vs. SCHD - Dividend Comparison

SPYX's dividend yield for the trailing twelve months is around 1.08%, less than SCHD's 3.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHD Schwab U.S. Dividend Equity ETF	3.31%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	1.08%	0.91%	1.05%	1.21%	1.41%	1.04%	1.33%	1.56%	1.92%	1.68%	1.91%	0.16%

Frequently Asked Questions

Can I hold both SPYX and SCHD in my portfolio?

SPYX and SCHD have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPYX or SCHD?

SPYX has higher volatility (4.78%) compared to SCHD (3.58%). In terms of maximum drawdown, SPYX dropped -32.84% vs SCHD's -33.37%.

Which ETF is better, SPYX or SCHD?

On 10-year performance, SPYX leads with 15.77% vs 12.68% for SCHD. On fees, SCHD is cheaper at 0.06% per year. On volatility, SCHD 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, SPYX or SCHD?

Over the 10-year period, SPYX has performed better with a 15.77% return vs 12.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYX or SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.20% for SPYX.

Which ETF pays a higher dividend yield, SPYX or SCHD?

SCHD has the higher dividend yield at 3.31%, compared with 1.08% for SPYX.

What is the main difference between SPYX and SCHD?

SPYX is categorized as S&P 500, while SCHD is Dividend. SPYX tracks S&P 500 Fossil Fuel Reserves Free Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: State Street and Charles Schwab. Their fees differ too: 0.20% for SPYX and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.18 vs 2.05), 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.