TISEX vs. SCHD

Last updated Aug 1, 2026

TISEX (TIAA-CREF Quant Small-Cap Equity Fund) and SCHD (Schwab U.S. Dividend Equity ETF) are both funds - TISEX is a Small Cap Blend Equities fund managed by TIAA, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Over the past 10 years, TISEX returned 12.49%/yr vs 12.76%/yr for SCHD. Their 0.74 correlation means they have sometimes moved together and sometimes differently. TISEX charges 0.41%/yr vs 0.06%/yr for SCHD.

Performance

TISEX vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Quant Small-Cap Equity Fund (TISEX) 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, TISEX achieves a 20.12% return, which is significantly lower than SCHD's 24.03% return. Both investments have delivered pretty close results over the past 10 years, with TISEX having a 12.49% annualized return and SCHD not far ahead at 12.76%.

TISEX

• 1D: 1.59%
• 1M: -2.16%
• 6M: 14.86%
• YTD: 20.12%
• 1Y: 41.03%
• 3Y*: 18.66%
• 5Y*: 11.29%
• 10Y*: 12.49%
• ALL TIME*: 11.40%

SCHD

• 1D: 0.18%
• 1M: 3.33%
• 6M: 14.09%
• YTD: 24.03%
• 1Y: 31.54%
• 3Y*: 14.19%
• 5Y*: 9.54%
• 10Y*: 12.76%
• ALL TIME*: 13.39%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SCHD Schwab U.S. Dividend Equity ETF	$786.88M	$715.86M	$685.58M
TISEX TIAA-CREF Quant Small-Cap Equity Fund	$0.00	$0.00	$0.00

TISEX vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TISEX TIAA-CREF Quant Small-Cap Equity Fund	20.12%	16.31%	16.29%	18.72%	-15.49%	25.00%	12.81%	23.94%	-12.33%	14.07%
SCHD Schwab U.S. Dividend Equity ETF	24.03%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between TISEX and SCHD is 0.38, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.38
Correlation (3Y) Balances recent behavior with more history.	0.60
Correlation (5Y) Shows whether the relationship held over a longer period.	0.70
Correlation (10Y) Provides a long-term view across more market conditions.	0.72
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.74

Over the past year, the correlation between TISEX and SCHD has dropped to 0.38 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

Return for Risk

TISEX vs. SCHD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TISEX

TISEX Risk / Return Rank: 84
TISEX Sharpe Ratio Rank: 81
TISEX Sortino Ratio Rank: 79
TISEX Omega Ratio Rank: 74
TISEX Calmar Ratio Rank: 95
TISEX Martin Ratio Rank: 94

SCHD

SCHD Risk / Return Rank: 95
SCHD Sharpe Ratio Rank: 96
SCHD Sortino Ratio Rank: 96
SCHD Omega Ratio Rank: 94
SCHD Calmar Ratio Rank: 96
SCHD Martin Ratio Rank: 93

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.

TISEX vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Quant Small-Cap Equity Fund (TISEX) 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.

	TISEX	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	1.92	2.81	-0.89
Sortino ratio: Return per unit of downside risk	2.69	4.37	-1.68
Omega ratio: Gain probability vs. loss probability	1.32	1.51	-0.18
Calmar ratio: Return relative to maximum drawdown	4.09	6.74	-2.65
Martin ratio: Return relative to average drawdown	14.48	17.01	-2.53

TISEX vs. SCHD - Sharpe Ratio Comparison

The current TISEX Sharpe Ratio is 1.92, which is lower than the SCHD Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of TISEX 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

TISEX vs. SCHD - Drawdown Comparison

The maximum TISEX drawdown since its inception was -59.91%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for TISEX and SCHD.

Drawdown Indicators

	TISEX	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-59.91%	-33.37%	-26.54%
Max Drawdown (1Y) Largest decline over 1 year	-9.20%	-4.61%	-4.59%
Max Drawdown (3Y) Largest decline over 3 years	-26.18%	-16.13%	-10.05%
Max Drawdown (5Y) Largest decline over 5 years	-27.92%	-16.85%	-11.07%
Max Drawdown (10Y) Largest decline over 10 years	-45.76%	-33.37%	-12.39%
Current Drawdown Current decline from peak	-4.07%	-1.24%	-2.83%
Average Drawdown Average peak-to-trough decline	-9.31%	-3.30%	-6.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	1.82%	+0.77%

Volatility

TISEX vs. SCHD - Volatility Comparison

TIAA-CREF Quant Small-Cap Equity Fund (TISEX) and Schwab U.S. Dividend Equity ETF (SCHD) have volatilities of 4.20% and 4.11%, 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

	TISEX	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.20%	4.11%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	14.20%	8.11%	+6.09%
Volatility (1Y) Calculated over the trailing 1-year period	19.54%	11.13%	+8.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.03%	14.39%	+7.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.35%	16.72%	+6.63%

TISEX vs. SCHD - Expense Ratio Comparison

TISEX has a 0.41% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

TISEX vs. SCHD - Dividend Comparison

TISEX's dividend yield for the trailing twelve months is around 7.59%, more than SCHD's 3.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHD Schwab U.S. Dividend Equity ETF	3.13%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%
TISEX TIAA-CREF Quant Small-Cap Equity Fund	7.59%	9.11%	12.26%	2.08%	6.47%	21.14%	0.63%	5.41%	20.46%	10.29%	3.48%	7.75%

Frequently Asked Questions

Can I hold both TISEX and SCHD in my portfolio?

TISEX and SCHD have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TISEX or SCHD?

TISEX has higher volatility (4.20%) compared to SCHD (4.11%). In terms of maximum drawdown, TISEX dropped -59.91% vs SCHD's -33.37%.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.81 vs 1.92), 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.