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VIOO vs. SCHA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VIOO vs. SCHA

Last updated Jun 9, 2026

VIOO (Vanguard S&P Small-Cap 600 ETF) and SCHA (Schwab U.S. Small-Cap ETF) are both Small Cap Blend Equities funds - VIOO tracks the S&P SmallCap 600 Index while SCHA tracks the Dow Jones U.S. Small-Cap Total Stock Market Index. Both are passively managed. Over the past 10 years, VIOO returned 10.63%/yr vs 10.95%/yr for SCHA. Their correlation of 0.95 suggests significant overlap in exposure. VIOO charges 0.07%/yr vs 0.04%/yr for SCHA.

Performance

VIOO vs. SCHA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P Small-Cap 600 ETF (VIOO) and Schwab U.S. Small-Cap ETF (SCHA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VIOO achieves a 15.44% return, which is significantly lower than SCHA's 17.78% return. Both investments have delivered pretty close results over the past 10 years, with VIOO having a 10.63% annualized return and SCHA not far ahead at 10.95%.

VIOO

1D
0.60%
1M
0.16%
YTD
15.44%
6M
15.12%
1Y
30.51%
3Y*
13.80%
5Y*
5.39%
10Y*
10.63%

SCHA

1D
0.93%
1M
0.12%
YTD
17.78%
6M
16.92%
1Y
36.31%
3Y*
17.52%
5Y*
6.45%
10Y*
10.95%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VIOO vs. SCHA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VIOO
Vanguard S&P Small-Cap 600 ETF		15.44%6.04%8.48%16.16%-16.26%26.79%11.47%22.68%-8.65%13.16%
SCHA
Schwab U.S. Small-Cap ETF		17.78%11.60%11.16%18.46%-19.81%16.45%19.34%26.50%-11.79%14.94%

Correlation

The correlation between VIOO and SCHA 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

0.97

Correlation (5Y)
Calculated over the trailing 5-year period

0.97

Correlation (10Y)
Calculated over the trailing 10-year period

0.97

Correlation (All Time)
Calculated using the full available price history since Sep 10, 2010

0.95

The correlation between VIOO and SCHA has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

VIOO vs. SCHA - Sectors Allocation Comparison

Sectors
VIOO
SCHA

Financial Services

16.9%
15.3%

Industrials

15.5%
15.6%

Technology

15.5%
23.9%

Consumer Cyclical

13.4%
9.0%

Healthcare

11.0%
13.2%

Real Estate

7.7%
5.9%

Energy

5.9%
5.4%

Basic Materials

5.1%
4.4%

Communication Services

3.6%
2.3%

Consumer Defensive

3.5%
2.5%

Utilities

2.0%
2.3%

Financial Services

VIOO
16.9%
SCHA
15.3%

Industrials

VIOO
15.5%
SCHA
15.6%

Technology

VIOO
15.5%
SCHA
23.9%

Consumer Cyclical

VIOO
13.4%
SCHA
9.0%

Healthcare

VIOO
11.0%
SCHA
13.2%

Real Estate

VIOO
7.7%
SCHA
5.9%

Energy

VIOO
5.9%
SCHA
5.4%

Basic Materials

VIOO
5.1%
SCHA
4.4%

Communication Services

VIOO
3.6%
SCHA
2.3%

Consumer Defensive

VIOO
3.5%
SCHA
2.5%

Utilities

VIOO
2.0%
SCHA
2.3%

Compare stocks, funds, or ETFs

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Vanguard S&P Small-Cap 600 ETF

Schwab U.S. Small-Cap ETF

Often compared with VIOO:
VIOO vs. VBVIOO vs. IJRVIOO vs. VOVIOO vs. AVUVVIOO vs. VIOVVIOO vs. VTWOVIOO vs. VIOG
Often compared with SCHA:
SCHA vs. VBSCHA vs. SWSSXSCHA vs. AVUVSCHA vs. IJRSCHA vs. SCHDSCHA vs. SCHBSCHA vs. SCHM

Return for Risk

VIOO vs. SCHA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VIOO
VIOO Risk / Return Rank: 6363
Overall Rank
VIOO Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
VIOO Sortino Ratio Rank: 6060
Sortino Ratio Rank
VIOO Omega Ratio Rank: 5353
Omega Ratio Rank
VIOO Calmar Ratio Rank: 7676
Calmar Ratio Rank
VIOO Martin Ratio Rank: 6969
Martin Ratio Rank
SCHA
SCHA Risk / Return Rank: 7171
Overall Rank
SCHA Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
SCHA Sortino Ratio Rank: 6868
Sortino Ratio Rank
SCHA Omega Ratio Rank: 6161
Omega Ratio Rank
SCHA Calmar Ratio Rank: 8181
Calmar Ratio Rank
SCHA Martin Ratio Rank: 7979
Martin Ratio Rank
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.

VIOO vs. SCHA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 ETF (VIOO) and Schwab U.S. Small-Cap ETF (SCHA). 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.

VIOOSCHADifference
Sharpe ratioReturn per unit of total volatility
1.74
2.00

-0.26

Sortino ratioReturn per unit of downside risk
2.53
2.79

-0.25

Omega ratioGain probability vs. loss probability

1.30

1.34

-0.04

Calmar ratioReturn relative to maximum drawdown

3.49

3.84

-0.34

Martin ratioReturn relative to average drawdown

11.68

14.05

-2.37

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VIOO vs. SCHA - Sharpe Ratio Comparison

The current VIOO Sharpe Ratio is 1.74, which is comparable to the SCHA Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of VIOO and SCHA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

VIOOSCHADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.74

2.00

-0.26

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.25

0.29

-0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.46

0.48

-0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.57

0.57

0.00

Drawdowns

VIOO vs. SCHA - Drawdown Comparison

The maximum VIOO drawdown since its inception was -44.15%, roughly equal to the maximum SCHA drawdown of -42.41%. Use the drawdown chart below to compare losses from any high point for VIOO and SCHA.

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Drawdown Indicators

VIOOSCHADifference

Max Drawdown

Largest peak-to-trough decline

-44.15%

-42.41%

-1.74%

Max Drawdown (1Y)

Largest decline over 1 year

-8.77%

-9.50%

+0.73%

Max Drawdown (3Y)

Largest decline over 3 years

-27.93%

-27.29%

-0.64%

Max Drawdown (5Y)

Largest decline over 5 years

-27.93%

-30.79%

+2.86%

Max Drawdown (10Y)

Largest decline over 10 years

-44.15%

-42.41%

-1.74%

Current Drawdown

Current decline from peak

-1.13%

-2.50%

+1.37%

Average Drawdown

Average peak-to-trough decline

-7.33%

-7.58%

+0.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.62%

2.59%

+0.03%

Volatility

VIOO vs. SCHA - Volatility Comparison

The current volatility for Vanguard S&P Small-Cap 600 ETF (VIOO) is 4.63%, while Schwab U.S. Small-Cap ETF (SCHA) has a volatility of 5.79%. This indicates that VIOO experiences smaller price fluctuations and is considered to be less risky than SCHA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VIOOSCHADifference

Volatility (1M)

Calculated over the trailing 1-month period

4.63%

5.79%

-1.16%

Volatility (6M)

Calculated over the trailing 6-month period

11.84%

13.28%

-1.44%

Volatility (1Y)

Calculated over the trailing 1-year period

17.66%

18.31%

-0.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.41%

21.98%

-0.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.00%

22.74%

+0.26%

VIOO vs. SCHA - Expense Ratio Comparison

VIOO has a 0.07% expense ratio, which is higher than SCHA's 0.04% 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

VIOO vs. SCHA - Dividend Comparison

VIOO's dividend yield for the trailing twelve months is around 1.18%, more than SCHA's 1.02% yield.

PositionTTM20252024202320222021202020192018201720162015
SCHA
Schwab U.S. Small-Cap ETF		1.02%1.26%1.51%1.42%1.37%1.19%1.05%1.39%1.58%1.24%1.50%1.48%
VIOO
Vanguard S&P Small-Cap 600 ETF		1.18%1.36%1.48%1.47%1.51%1.16%1.09%1.37%1.32%1.11%1.06%1.26%

Frequently Asked Questions

With a correlation of 0.94, VIOO and SCHA 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.

SCHA has higher volatility (5.79%) compared to VIOO (4.63%). In terms of maximum drawdown, VIOO dropped -44.15% vs SCHA's -42.41%.

On 10-year performance, SCHA leads with 10.95% vs 10.63% for VIOO. On fees, SCHA is cheaper at 0.04% per year. On volatility, VIOO has been the lower-risk option at 4.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SCHA has performed better with a 10.95% return vs 10.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SCHA is cheaper with a 0.04% expense ratio, compared with 0.07% for VIOO.

VIOO has the higher dividend yield at 1.18%, compared with 1.02% for SCHA.

VIOO tracks S&P SmallCap 600 Index, while SCHA tracks Dow Jones U.S. Small-Cap Total Stock Market Index. They also come from different issuers: Vanguard and Charles Schwab. Their fees differ too: 0.07% for VIOO and 0.04% for SCHA.

SCHA currently has the higher Sharpe Ratio (2.00 vs 1.74), 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.

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