UMBMX vs. SCHM

Last updated Jun 3, 2026

UMBMX (Carillon Scout Mid Cap Fund) and SCHM (Schwab US Mid-Cap ETF) are both funds - UMBMX is a Mid Cap Blend Equities fund managed by Carillon Family of Funds, while SCHM is a Mid Cap Growth Equities fund tracking the Dow Jones US Total Stock Market Mid-Cap. Over the past 10 years, UMBMX returned 12.73%/yr vs 11.37%/yr for SCHM. With a 0.96 correlation, they move nearly in lockstep. UMBMX charges 0.95%/yr vs 0.04%/yr for SCHM.

Performance

UMBMX vs. SCHM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Carillon Scout Mid Cap Fund (UMBMX) and Schwab US Mid-Cap ETF (SCHM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UMBMX achieves a 12.18% return, which is significantly lower than SCHM's 19.08% return. Over the past 10 years, UMBMX has outperformed SCHM with an annualized return of 12.73%, while SCHM has yielded a comparatively lower 11.37% annualized return.

UMBMX

• 1D: -0.62%
• 1M: 0.44%
• YTD: 12.18%
• 6M: 12.91%
• 1Y: 25.67%
• 3Y*: 20.54%
• 5Y*: 8.79%
• 10Y*: 12.73%

SCHM

• 1D: 1.08%
• 1M: 4.90%
• YTD: 19.08%
• 6M: 20.61%
• 1Y: 34.01%
• 3Y*: 18.15%
• 5Y*: 8.23%
• 10Y*: 11.37%

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

UMBMX vs. SCHM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UMBMX Carillon Scout Mid Cap Fund	12.18%	15.46%	22.93%	12.73%	-17.31%	15.69%	27.28%	20.76%	-9.83%	24.04%
SCHM Schwab US Mid-Cap ETF	19.08%	10.17%	11.98%	16.69%	-17.07%	19.36%	15.26%	27.48%	-8.77%	19.60%

Correlation

The correlation between UMBMX and SCHM is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 14, 2011	0.96

The correlation between UMBMX and SCHM has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

UMBMX vs. SCHM — Risk / Return Rank

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

UMBMX

UMBMX Risk / Return Rank: 44
UMBMX Sharpe Ratio Rank: 38
UMBMX Sortino Ratio Rank: 38
UMBMX Omega Ratio Rank: 36
UMBMX Calmar Ratio Rank: 53
UMBMX Martin Ratio Rank: 55

SCHM

SCHM Risk / Return Rank: 68
SCHM Sharpe Ratio Rank: 65
SCHM Sortino Ratio Rank: 66
SCHM Omega Ratio Rank: 62
SCHM Calmar Ratio Rank: 72
SCHM Martin Ratio Rank: 76

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.

UMBMX vs. SCHM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Carillon Scout Mid Cap Fund (UMBMX) and Schwab US Mid-Cap ETF (SCHM). 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.

	UMBMX	SCHM	Difference
Sharpe ratio Return per unit of total volatility	1.82	2.19	-0.37
Sortino ratio Return per unit of downside risk	2.61	3.06	-0.45
Omega ratio Gain probability vs. loss probability	1.32	1.38	-0.06
Calmar ratio Return relative to maximum drawdown	2.82	3.65	-0.83
Martin ratio Return relative to average drawdown	11.19	14.75	-3.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UMBMX vs. SCHM - Sharpe Ratio Comparison

The current UMBMX Sharpe Ratio is 1.82, which is comparable to the SCHM Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of UMBMX and SCHM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UMBMX	SCHM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.82	2.19	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.42	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.56	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.59	-0.01

Drawdowns

UMBMX vs. SCHM - Drawdown Comparison

The maximum UMBMX drawdown since its inception was -49.91%, which is greater than SCHM's maximum drawdown of -42.43%. Use the drawdown chart below to compare losses from any high point for UMBMX and SCHM.

Drawdown Indicators

	UMBMX	SCHM	Difference
Max Drawdown Largest peak-to-trough decline	-49.91%	-42.43%	-7.48%
Max Drawdown (1Y) Largest decline over 1 year	-9.19%	-9.32%	+0.13%
Max Drawdown (3Y) Largest decline over 3 years	-19.41%	-23.27%	+3.86%
Max Drawdown (5Y) Largest decline over 5 years	-26.30%	-26.46%	+0.16%
Max Drawdown (10Y) Largest decline over 10 years	-36.91%	-42.43%	+5.52%
Current Drawdown Current decline from peak	-1.48%	0.00%	-1.48%
Average Drawdown Average peak-to-trough decline	-7.11%	-5.66%	-1.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.32%	2.31%	+0.01%

Volatility

UMBMX vs. SCHM - Volatility Comparison

The current volatility for Carillon Scout Mid Cap Fund (UMBMX) is 4.14%, while Schwab US Mid-Cap ETF (SCHM) has a volatility of 4.75%. This indicates that UMBMX experiences smaller price fluctuations and is considered to be less risky than SCHM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UMBMX	SCHM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.14%	4.75%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	11.24%	11.77%	-0.53%
Volatility (1Y) Calculated over the trailing 1-year period	14.36%	15.62%	-1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.72%	19.56%	-1.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.11%	20.47%	-1.36%

UMBMX vs. SCHM - Expense Ratio Comparison

UMBMX has a 0.95% expense ratio, which is higher than SCHM's 0.04% expense ratio.

Dividends

UMBMX vs. SCHM - Dividend Comparison

UMBMX's dividend yield for the trailing twelve months is around 9.18%, more than SCHM's 1.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHM Schwab US Mid-Cap ETF	1.22%	1.46%	1.43%	1.50%	1.67%	1.13%	1.31%	1.48%	1.56%	1.27%	1.51%	1.54%
UMBMX Carillon Scout Mid Cap Fund	9.18%	10.29%	15.75%	0.17%	4.21%	11.54%	2.40%	0.74%	8.09%	8.38%	2.39%	8.74%

Frequently Asked Questions

Can I hold both UMBMX and SCHM in my portfolio?

With a correlation of 0.94, UMBMX and SCHM 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, UMBMX or SCHM?

SCHM has higher volatility (4.75%) compared to UMBMX (4.14%). In terms of maximum drawdown, UMBMX dropped -49.91% vs SCHM's -42.43%.

Which has better risk-adjusted returns?

SCHM currently has the higher Sharpe Ratio (2.19 vs 1.82), 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.