XSLV vs. SCHA

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco S&P SmallCap Low Volatility ETF (XSLV) and Schwab U.S. Small-Cap ETF (SCHA).

XSLV and SCHA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XSLV is a passively managed fund by Invesco that tracks the performance of the S&P SmallCap 600 Low Volatility Index. It was launched on Feb 15, 2013. SCHA is a passively managed fund by Charles Schwab that tracks the performance of the Dow Jones U.S. Small-Cap Total Stock Market Total Return Index. It was launched on Nov 3, 2009. Both XSLV and SCHA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XSLV vs. SCHA - Performance Comparison

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

XSLV vs. SCHA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XSLV Invesco S&P SmallCap Low Volatility ETF	2.45%	0.31%	9.81%	1.34%	-11.83%	29.34%	-17.40%	22.35%	-5.41%	8.57%
SCHA Schwab U.S. Small-Cap ETF	2.24%	11.60%	11.16%	18.46%	-19.81%	16.45%	19.34%	26.50%	-11.79%	14.94%

Returns By Period

In the year-to-date period, XSLV achieves a 2.45% return, which is significantly higher than SCHA's 2.24% return. Over the past 10 years, XSLV has underperformed SCHA with an annualized return of 5.46%, while SCHA has yielded a comparatively higher 9.84% annualized return.

XSLV

• 1D: 0.76%
• 1M: -3.66%
• YTD: 2.45%
• 6M: 3.26%
• 1Y: 5.07%
• 3Y*: 6.15%
• 5Y*: 2.68%
• 10Y*: 5.46%

SCHA

• 1D: 3.56%
• 1M: -4.59%
• YTD: 2.24%
• 6M: 4.84%
• 1Y: 25.65%
• 3Y*: 13.10%
• 5Y*: 4.29%
• 10Y*: 9.84%

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

XSLV vs. SCHA - Expense Ratio Comparison

XSLV has a 0.25% 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%.

XSLV

Invesco S&P SmallCap Low Volatility ETF

SCHA

Schwab U.S. Small-Cap ETF

Return for Risk

XSLV vs. SCHA — Risk / Return Rank

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

XSLV

XSLV Risk / Return Rank: 22
XSLV Sharpe Ratio Rank: 22
XSLV Sortino Ratio Rank: 22
XSLV Omega Ratio Rank: 20
XSLV Calmar Ratio Rank: 24
XSLV Martin Ratio Rank: 25

SCHA

SCHA Risk / Return Rank: 70
SCHA Sharpe Ratio Rank: 67
SCHA Sortino Ratio Rank: 70
SCHA Omega Ratio Rank: 65
SCHA Calmar Ratio Rank: 73
SCHA Martin Ratio Rank: 75

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.

XSLV vs. SCHA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Low Volatility ETF (XSLV) 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.

	XSLV	SCHA	Difference
Sharpe ratio Return per unit of total volatility	0.32	1.13	-0.80
Sortino ratio Return per unit of downside risk	0.58	1.69	-1.11
Omega ratio Gain probability vs. loss probability	1.07	1.22	-0.15
Calmar ratio Return relative to maximum drawdown	0.53	1.77	-1.24
Martin ratio Return relative to average drawdown	1.83	7.39	-5.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSLV vs. SCHA - Sharpe Ratio Comparison

The current XSLV Sharpe Ratio is 0.32, which is lower than the SCHA Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of XSLV and SCHA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XSLV	SCHA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.32	1.13	-0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	0.20	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	0.44	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.53	-0.13

Correlation

The correlation between XSLV and SCHA is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XSLV vs. SCHA - Dividend Comparison

XSLV's dividend yield for the trailing twelve months is around 2.70%, more than SCHA's 1.17% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XSLV Invesco S&P SmallCap Low Volatility ETF	2.70%	2.14%	2.55%	2.35%	2.78%	1.05%	2.49%	2.43%	2.75%	1.87%	1.96%	2.20%
SCHA Schwab U.S. Small-Cap ETF	1.17%	1.26%	1.51%	1.42%	1.37%	1.19%	1.05%	1.39%	1.58%	1.24%	1.50%	1.48%

Drawdowns

XSLV vs. SCHA - Drawdown Comparison

The maximum XSLV drawdown since its inception was -44.34%, roughly equal to the maximum SCHA drawdown of -42.41%. Use the drawdown chart below to compare losses from any high point for XSLV and SCHA.

Drawdown Indicators

	XSLV	SCHA	Difference
Max Drawdown Largest peak-to-trough decline	-44.34%	-42.41%	-1.93%
Max Drawdown (1Y) Largest decline over 1 year	-11.26%	-14.35%	+3.09%
Max Drawdown (5Y) Largest decline over 5 years	-24.72%	-30.79%	+6.07%
Max Drawdown (10Y) Largest decline over 10 years	-44.34%	-42.41%	-1.93%
Current Drawdown Current decline from peak	-5.25%	-6.28%	+1.03%
Average Drawdown Average peak-to-trough decline	-7.37%	-7.65%	+0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	3.43%	-0.18%

Volatility

XSLV vs. SCHA - Volatility Comparison

The current volatility for Invesco S&P SmallCap Low Volatility ETF (XSLV) is 3.54%, while Schwab U.S. Small-Cap ETF (SCHA) has a volatility of 7.40%. This indicates that XSLV 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.

Volatility by Period

	XSLV	SCHA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	7.40%	-3.86%
Volatility (6M) Calculated over the trailing 6-month period	8.88%	13.69%	-4.81%
Volatility (1Y) Calculated over the trailing 1-year period	15.88%	22.89%	-7.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.68%	21.95%	-5.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.93%	22.67%	-2.74%