VIVAX vs. SCHD

Last updated Aug 1, 2026

VIVAX (Vanguard Value Index Fund Investor Shares) and SCHD (Schwab U.S. Dividend Equity ETF) are both funds - VIVAX is a Large Cap Value Equities fund tracking the CRSP US Large Cap Value 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, VIVAX returned 12.33%/yr vs 12.76%/yr for SCHD. Their correlation of 0.93 means they have usually moved in the same direction. VIVAX charges 0.17%/yr vs 0.06%/yr for SCHD.

Performance

VIVAX vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Value Index Fund Investor Shares (VIVAX) 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, VIVAX achieves a 16.58% return, which is significantly lower than SCHD's 24.03% return. Both investments have delivered pretty close results over the past 10 years, with VIVAX having a 12.33% annualized return and SCHD not far ahead at 12.76%.

VIVAX

• 1D: 0.33%
• 1M: 0.58%
• 6M: 11.47%
• YTD: 16.58%
• 1Y: 28.07%
• 3Y*: 16.76%
• 5Y*: 12.07%
• 10Y*: 12.33%
• ALL TIME*: 10.13%

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
VIVAX Vanguard Value Index Fund Investor Shares	$0.00	$0.00	$0.00

VIVAX vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIVAX Vanguard Value Index Fund Investor Shares	16.58%	14.50%	15.85%	9.08%	-2.18%	26.32%	2.18%	25.66%	-5.56%	16.98%
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 VIVAX and SCHD is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.92
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.93

The correlation between VIVAX and SCHD shifts across timeframes, from 0.75 (1 year) to 0.93 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VIVAX vs. SCHD — Risk / Return Rank

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

VIVAX

VIVAX Risk / Return Rank: 93
VIVAX Sharpe Ratio Rank: 94
VIVAX Sortino Ratio Rank: 92
VIVAX Omega Ratio Rank: 88
VIVAX Calmar Ratio Rank: 95
VIVAX Martin Ratio Rank: 95

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.

VIVAX vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Value Index Fund Investor Shares (VIVAX) 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.

	VIVAX	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	2.51	2.81	-0.31
Sortino ratio: Return per unit of downside risk	3.58	4.37	-0.79
Omega ratio: Gain probability vs. loss probability	1.45	1.51	-0.06
Calmar ratio: Return relative to maximum drawdown	4.08	6.74	-2.66
Martin ratio: Return relative to average drawdown	15.73	17.01	-1.28

VIVAX vs. SCHD - Sharpe Ratio Comparison

The current VIVAX Sharpe Ratio is 2.51, which is comparable to the SCHD Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of VIVAX 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

VIVAX vs. SCHD - Drawdown Comparison

The maximum VIVAX drawdown since its inception was -59.38%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for VIVAX and SCHD.

Drawdown Indicators

	VIVAX	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-59.38%	-33.37%	-26.01%
Max Drawdown (1Y) Largest decline over 1 year	-6.37%	-4.61%	-1.76%
Max Drawdown (3Y) Largest decline over 3 years	-14.90%	-16.13%	+1.23%
Max Drawdown (5Y) Largest decline over 5 years	-17.17%	-16.85%	-0.32%
Max Drawdown (10Y) Largest decline over 10 years	-36.81%	-33.37%	-3.44%
Current Drawdown Current decline from peak	-1.07%	-1.24%	+0.17%
Average Drawdown Average peak-to-trough decline	-8.04%	-3.30%	-4.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	1.82%	-0.16%

Volatility

VIVAX vs. SCHD - Volatility Comparison

The current volatility for Vanguard Value Index Fund Investor Shares (VIVAX) is 2.64%, while Schwab U.S. Dividend Equity ETF (SCHD) has a volatility of 4.11%. This indicates that VIVAX experiences smaller price fluctuations and is considered to be less risky than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIVAX	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	4.11%	-1.47%
Volatility (6M) Calculated over the trailing 6-month period	7.79%	8.11%	-0.32%
Volatility (1Y) Calculated over the trailing 1-year period	10.38%	11.13%	-0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.87%	14.39%	-0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.69%	16.72%	-0.03%

VIVAX vs. SCHD - Expense Ratio Comparison

VIVAX has a 0.17% 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

VIVAX vs. SCHD - Dividend Comparison

VIVAX's dividend yield for the trailing twelve months is around 1.73%, less 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%
VIVAX Vanguard Value Index Fund Investor Shares	1.73%	1.42%	2.19%	2.33%	2.39%	2.02%	2.43%	2.39%	2.59%	2.18%	2.33%	2.46%

Frequently Asked Questions

Can I hold both VIVAX and SCHD in my portfolio?

VIVAX and SCHD have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIVAX or SCHD?

SCHD has higher volatility (4.11%) compared to VIVAX (2.64%). In terms of maximum drawdown, VIVAX dropped -59.38% vs SCHD's -33.37%.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.81 vs 2.51), 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.