TVAL vs. SCHV

Last updated Aug 2, 2026

TVAL (T. Rowe Price Value ETF) and SCHV (Schwab U.S. Large-Cap Value ETF) are both Large Cap Value Equities funds. TVAL is actively managed, while SCHV is passively managed. Over the past 3 years, TVAL returned 18.55%/yr vs 16.46%/yr for SCHV. Their 0.95 correlation means they have historically moved very closely together. TVAL charges 0.33%/yr vs 0.04%/yr for SCHV.

Performance

TVAL vs. SCHV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Value ETF (TVAL) and Schwab U.S. Large-Cap Value ETF (SCHV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TVAL achieves a 20.98% return, which is significantly higher than SCHV's 16.12% return.

TVAL

• 1D: 0.50%
• 1M: 1.14%
• 6M: 15.26%
• YTD: 20.98%
• 1Y: 32.99%
• 3Y*: 18.55%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.32%

SCHV

• 1D: -0.26%
• 1M: -1.05%
• 6M: 10.52%
• YTD: 16.12%
• 1Y: 25.88%
• 3Y*: 16.46%
• 5Y*: 10.57%
• 10Y*: 11.24%
• ALL TIME*: 11.61%

*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)
SCHV Schwab U.S. Large-Cap Value ETF	$128.10M	$109.56M	$118.29M
TVAL T. Rowe Price Value ETF	$3.26M	$3.20M	$5.80M

TVAL vs. SCHV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TVAL T. Rowe Price Value ETF	20.98%	15.59%	14.54%	8.45%
SCHV Schwab U.S. Large-Cap Value ETF	16.12%	16.02%	14.13%	7.59%

Correlation

The correlation between TVAL and SCHV is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (All Time) Calculated using the full available price history since Jun 15, 2023	0.95

The correlation between TVAL and SCHV has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

TVAL vs. SCHV - Sectors Allocation Comparison

Sectors	TVAL	SCHV
Financial Services	20.0%	18.7%
Technology	19.0%	22.9%
Healthcare	12.2%	11.2%
Industrials	11.5%	13.9%
Consumer Cyclical	9.6%	6.5%
Energy	7.1%	5.8%
Consumer Defensive	6.4%	8.1%
Utilities	4.8%	4.3%
Communication Services	3.6%	2.1%
Basic Materials	3.5%	2.5%
Real Estate	2.5%	3.9%

Return for Risk

TVAL vs. SCHV — Risk / Return Rank

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

TVAL

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

SCHV

SCHV Risk / Return Rank: 89
SCHV Sharpe Ratio Rank: 90
SCHV Sortino Ratio Rank: 90
SCHV Omega Ratio Rank: 88
SCHV Calmar Ratio Rank: 89
SCHV Martin Ratio Rank: 90

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.

TVAL vs. SCHV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Value ETF (TVAL) and Schwab U.S. Large-Cap Value ETF (SCHV). 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.

	TVAL	SCHV	Difference
Sharpe ratio: Return per unit of total volatility	2.91	2.21	+0.70
Sortino ratio: Return per unit of downside risk	4.04	3.15	+0.88
Omega ratio: Gain probability vs. loss probability	1.52	1.39	+0.13
Calmar ratio: Return relative to maximum drawdown	4.44	3.66	+0.78
Martin ratio: Return relative to average drawdown	19.04	14.19	+4.85

TVAL vs. SCHV - Sharpe Ratio Comparison

The current TVAL Sharpe Ratio is 2.91, which is higher than the SCHV Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of TVAL and SCHV, 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

TVAL vs. SCHV - Drawdown Comparison

The maximum TVAL drawdown since its inception was -14.84%, smaller than the maximum SCHV drawdown of -37.08%. Use the drawdown chart below to compare losses from any high point for TVAL and SCHV.

Drawdown Indicators

	TVAL	SCHV	Difference
Max Drawdown Largest peak-to-trough decline	-14.84%	-37.08%	+22.24%
Max Drawdown (1Y) Largest decline over 1 year	-7.15%	-6.83%	-0.32%
Max Drawdown (3Y) Largest decline over 3 years	-14.84%	-15.26%	+0.42%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.78%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.08%	—
Current Drawdown Current decline from peak	-0.12%	-2.21%	+2.09%
Average Drawdown Average peak-to-trough decline	-1.98%	-3.81%	+1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	1.76%	-0.09%

Volatility

TVAL vs. SCHV - Volatility Comparison

The current volatility for T. Rowe Price Value ETF (TVAL) is 2.57%, while Schwab U.S. Large-Cap Value ETF (SCHV) has a volatility of 3.01%. This indicates that TVAL experiences smaller price fluctuations and is considered to be less risky than SCHV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TVAL	SCHV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.57%	3.01%	-0.44%
Volatility (6M) Calculated over the trailing 6-month period	8.35%	8.94%	-0.59%
Volatility (1Y) Calculated over the trailing 1-year period	10.98%	11.35%	-0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.49%	14.53%	-2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.49%	16.93%	-4.44%

TVAL vs. SCHV - Expense Ratio Comparison

TVAL has a 0.33% expense ratio, which is higher than SCHV's 0.04% expense ratio.

Dividends

TVAL vs. SCHV - Dividend Comparison

TVAL's dividend yield for the trailing twelve months is around 0.95%, less than SCHV's 1.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHV Schwab U.S. Large-Cap Value ETF	1.79%	2.02%	2.25%	2.42%	2.37%	1.93%	3.03%	3.02%	3.05%	2.37%	2.65%	2.69%
TVAL T. Rowe Price Value ETF	0.95%	1.15%	1.16%	0.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TVAL and SCHV in my portfolio?

With a correlation of 0.92, TVAL and SCHV 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, TVAL or SCHV?

SCHV has higher volatility (3.01%) compared to TVAL (2.57%). In terms of maximum drawdown, TVAL dropped -14.84% vs SCHV's -37.08%.

Which ETF is better, TVAL or SCHV?

On 3-year performance, TVAL leads with 18.55% vs 16.46% for SCHV. On fees, SCHV is cheaper at 0.04% per year. On volatility, TVAL has been the lower-risk option at 2.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TVAL or SCHV?

Over the 3-year period, TVAL has performed better with a 18.55% return vs 16.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TVAL or SCHV?

SCHV is cheaper with a 0.04% expense ratio, compared with 0.33% for TVAL.

Which ETF pays a higher dividend yield, TVAL or SCHV?

SCHV has the higher dividend yield at 1.79%, compared with 0.95% for TVAL.

What is the main difference between TVAL and SCHV?

They also come from different issuers: T. Rowe Price and Charles Schwab. Their fees differ too: 0.33% for TVAL and 0.04% for SCHV.

Which has better risk-adjusted returns?

TVAL currently has the higher Sharpe Ratio (2.91 vs 2.21), 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.