PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
VIXM vs. SCHD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VIXM vs. SCHD

Last updated Jun 4, 2026

VIXM (ProShares VIX Mid-Term Futures ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - VIXM is a Volatility fund tracking the S&P 500 VIX Mid-Term Futures 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, VIXM returned -11.17%/yr vs 12.77%/yr for SCHD. At a correlation of -0.62, they often move in opposite directions. VIXM charges 0.85%/yr vs 0.06%/yr for SCHD.

Performance

VIXM vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares VIX Mid-Term Futures ETF (VIXM) and Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, VIXM achieves a 1.31% return, which is significantly lower than SCHD's 19.01% return. Over the past 10 years, VIXM has underperformed SCHD with an annualized return of -11.17%, while SCHD has yielded a comparatively higher 12.77% annualized return.

VIXM

1D
0.39%
1M
-2.34%
YTD
1.31%
6M
-2.83%
1Y
-8.35%
3Y*
-13.22%
5Y*
-13.49%
10Y*
-11.17%

SCHD

1D
0.00%
1M
2.70%
YTD
19.01%
6M
18.63%
1Y
27.16%
3Y*
15.09%
5Y*
8.36%
10Y*
12.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VIXM vs. SCHD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VIXM
ProShares VIX Mid-Term Futures ETF		1.31%5.60%-13.67%-44.83%-0.69%-16.70%72.38%-20.38%26.43%-50.05%
SCHD
Schwab U.S. Dividend Equity ETF		19.01%4.34%11.66%4.54%-3.26%29.87%15.03%27.29%-5.56%20.85%

Correlation

The correlation between VIXM and SCHD is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.29

Correlation (3Y)
Calculated over the trailing 3-year period

-0.43

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

-0.54

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

-0.58

Correlation (All Time)
Calculated using the full available price history since Oct 21, 2011

-0.62

Over the past year, the inverse relationship between VIXM and SCHD has weakened: their correlation has moved from -0.62 to -0.29, meaning they move in opposite directions less often than they have historically.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares VIX Mid-Term Futures ETF

Schwab U.S. Dividend Equity ETF

Often compared with VIXM:
VIXM vs. VIXYVIXM vs. ^VIXVIXM vs. VOOVIXM vs. VXXVIXM vs. UVXYVIXM vs. VXZVIXM vs. SPY
Often compared with SCHD:
SCHD vs. VOOSCHD vs. VYMSCHD vs. SPYSCHD vs. SCHGSCHD vs. JEPISCHD vs. FDVVSCHD vs. VIG

Return for Risk

VIXM vs. SCHD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VIXM
VIXM Risk / Return Rank: 44
Overall Rank
VIXM Sharpe Ratio Rank: 55
Sharpe Ratio Rank
VIXM Sortino Ratio Rank: 55
Sortino Ratio Rank
VIXM Omega Ratio Rank: 44
Omega Ratio Rank
VIXM Calmar Ratio Rank: 44
Calmar Ratio Rank
VIXM Martin Ratio Rank: 44
Martin Ratio Rank
SCHD
SCHD Risk / Return Rank: 8080
Overall Rank
SCHD Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
SCHD Sortino Ratio Rank: 8484
Sortino Ratio Rank
SCHD Omega Ratio Rank: 7373
Omega Ratio Rank
SCHD Calmar Ratio Rank: 9191
Calmar Ratio Rank
SCHD Martin Ratio Rank: 7575
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.

VIXM vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares VIX Mid-Term Futures ETF (VIXM) 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.

VIXMSCHDDifference
Sharpe ratioReturn per unit of total volatility
-0.44
2.49

-2.94

Sortino ratioReturn per unit of downside risk
-0.49
3.87

-4.36

Omega ratioGain probability vs. loss probability

0.94

1.45

-0.51

Calmar ratioReturn relative to maximum drawdown

-0.55

5.91

-6.46

Martin ratioReturn relative to average drawdown

-0.96

14.53

-15.49

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

VIXM vs. SCHD - Sharpe Ratio Comparison

The current VIXM Sharpe Ratio is -0.44, which is lower than the SCHD Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of VIXM 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.

Loading charts...

Sharpe Ratios by Period

VIXMSCHDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.44

2.49

-2.94

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.44

0.58

-1.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.34

0.77

-1.11

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.55

0.86

-1.41

Drawdowns

VIXM vs. SCHD - Drawdown Comparison

The maximum VIXM drawdown since its inception was -96.23%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for VIXM and SCHD.

Loading charts...

Drawdown Indicators

VIXMSCHDDifference

Max Drawdown

Largest peak-to-trough decline

-96.23%

-33.37%

-62.86%

Max Drawdown (1Y)

Largest decline over 1 year

-15.22%

-4.61%

-10.61%

Max Drawdown (3Y)

Largest decline over 3 years

-41.41%

-16.13%

-25.28%

Max Drawdown (5Y)

Largest decline over 5 years

-63.40%

-16.85%

-46.55%

Max Drawdown (10Y)

Largest decline over 10 years

-75.72%

-33.37%

-42.35%

Current Drawdown

Current decline from peak

-95.75%

-1.40%

-94.35%

Average Drawdown

Average peak-to-trough decline

-81.52%

-3.32%

-78.20%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.74%

1.88%

+6.86%

Volatility

VIXM vs. SCHD - Volatility Comparison

ProShares VIX Mid-Term Futures ETF (VIXM) has a higher volatility of 3.19% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 2.66%. This indicates that VIXM's price experiences larger fluctuations and is considered to be riskier than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

VIXMSCHDDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.19%

2.66%

+0.53%

Volatility (6M)

Calculated over the trailing 6-month period

13.91%

7.66%

+6.25%

Volatility (1Y)

Calculated over the trailing 1-year period

18.98%

10.96%

+8.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

30.68%

14.38%

+16.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.90%

16.72%

+16.18%

VIXM vs. SCHD - Expense Ratio Comparison

VIXM has a 0.85% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

VIXM vs. SCHD - Dividend Comparison

VIXM has not paid dividends to shareholders, while SCHD's dividend yield for the trailing twelve months is around 3.26%.

PositionTTM20252024202320222021202020192018201720162015
SCHD
Schwab U.S. Dividend Equity ETF		3.26%3.82%3.64%3.49%3.39%2.78%3.16%2.98%3.06%2.63%2.89%2.97%
VIXM
ProShares VIX Mid-Term Futures ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

VIXM and SCHD have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VIXM has higher volatility (3.19%) compared to SCHD (2.66%). In terms of maximum drawdown, VIXM dropped -96.23% vs SCHD's -33.37%.

On 10-year performance, SCHD leads with 12.77% vs -11.17% for VIXM. On fees, SCHD is cheaper at 0.06% per year. On volatility, SCHD has been the lower-risk option at 2.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SCHD has performed better with a 12.77% return vs -11.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SCHD is cheaper with a 0.06% expense ratio, compared with 0.85% for VIXM.

SCHD has the higher dividend yield at 3.26%, compared with 0.00% for VIXM.

VIXM is categorized as Volatility, while SCHD is Dividend. VIXM tracks S&P 500 VIX Mid-Term Futures Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: ProShares and Charles Schwab. Their fees differ too: 0.85% for VIXM and 0.06% for SCHD.

SCHD currently has the higher Sharpe Ratio (2.49 vs -0.44), 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.

Portfolio Optimizer

Find the right allocation for VIXM and SCHD

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer