# How Schwab International Equity ETF (SCHF) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/schf
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on SCHF alone. It places SCHF (Schwab International Equity ETF) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where SCHF stands in the market, and of the alternatives worth a closer look.

Period covered: SCHF's full trading record, from November 2009 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **What you're buying:** SCHF and IEFA (iShares Core MSCI EAFE ETF) have tracked each other (0.99). The larger fund is IEFA.
- **Right now:** Over the past 6 months, SCHF rose 1.7% against 9.1% for the S&P 500 and 11.2% for the Nasdaq 100. Its similar funds split over the past 6 months: DBEF (Xtrackers MSCI EAFE Hedged Equity ETF) rose 5.3%, while EFG (iShares MSCI EAFE Growth ETF) fell 1.1%.
- **Fund or market?:** SCHF rose 0.7% over the past 3 months, in line with the developed international stock ETF EFA (iShares MSCI EAFE ETF), which rose 1.1%. The S&P 500 rose 3.9%.
- **Long term:** SCHF turned $10,000 into $25,500 over the past decade, against $42,100 in the S&P 500. On the flip side, over the past decade, only DBEF (Xtrackers MSCI EAFE Hedged Equity ETF) and HEFA (iShares Currency Hedged MSCI EAFE ETF) of its similar funds outpaced SCHF.
- **In a crash:** SCHF has tended to fall harder than the S&P 500 in crashes, about 1.2 times the index's decline.
- **Diversification:** Against the S&P 500, SCHF has a correlation of 0.81 over 5 years, more closely than 65% of ETFs with at least $100 million in assets. Next to an index fund it is more of the same, not a cushion. SCHF fell in 18 of the 22 months the S&P 500 fell over the past 5 years: it usually fell with it.
- **Better options**
  - **Nearby categories and themes:** LVHI (Franklin International Low Volatility High Dividend Index ETF, international equity) earned more than SCHF with less volatility over the past 5 years: 17.0% a year at 11.1% volatility, against 9.5% a year at 16.8%.
  - **Whole market:** 76 of the 3,633 stocks and funds worth at least $500 million earned more than SCHF with less volatility over the past 5 years, among them VTV (Vanguard Morningstar Value ETF), VYM (Vanguard High Dividend Yield ETF) and IWD (iShares Russell 1000 Value ETF).

## How much would $10,000 in SCHF have grown?

This chart tracks a hypothetical $10,000 investment in SCHF over the past 12 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of SCHF over the same span and SCHF's popular alternatives, among those that traded for the entire period.

- $10,000 invested in SCHF at the end of September 2014 would have grown to $24,973 by September 2026, less than the $47,240 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of SCHF, and DXJ finished highest, at $53,208.

## SCHF at a glance

This section summarizes the key facts about the fund, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout.

- SCHF's deepest decline since it began trading in 2009 was 34.9%, from January 2018 to March 2020. It took eight months from the low to climb back to its old high.
- Over 16 full calendar years, SCHF's best was 2025, when it returned 34.6%, and its worst was 2022, when it lost 14.8%. It lost money in five of those years.
- SCHF is 5.3% below its all-time high.

- Type: ETF, International (Asset Management - Global)
- Trading since: November 3, 2009
- Assets: $68B
- Expense ratio: 0.03%
- Volatility (5 years): 16.8%; Sharpe ratio: 0.63
- Worst decline ever: −34.9%, from January 26, 2018 to March 23, 2020; back at its high by November 11, 2020

| Period | SCHF total return |
| --- | --- |
| 1 month | −3.8% |
| 3 months | +0.7% |
| 6 months | +1.7% |
| year to date | +11.7% |
| 1 year | +17.3% |
| 3 years | +80.9% |
| 5 years | +57.7% |
| 10 years | +155% |

## SCHF against the whole market

Where SCHF ranks among every stock and fund, and what across the market has done better.

### How does SCHF rank among all ETFs?

This section ranks SCHF on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history.

- SCHF's 1-year return ranks in the top 24% of the 2,485 ETFs with at least $100 million in assets with 1 year of history.

| Measure | SCHF | Rank |
| --- | --- | --- |
| 1-year return | +17.3% | 593 of 2,485 (top 24%) |
| 3-year return | +80.9% | 554 of 1,949 (top 29%) |
| 5-year return | +57.7% | 550 of 1,560 (top 36%) |
| 10-year return | +155% | 452 of 958 (top 48%) |
| Volatility, 5 years | 16.8% | 798 of 1,560 (top 52%) |
| Sharpe ratio, 5 years | 0.63 | 661 of 1,560 (top 43%) |
| Worst decline, past 10 years | −34.9% | 339 of 951 (top 36%) |

### What has beaten SCHF on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer).

- 76 ETFs worth at least $500 million sit in the green region: each earned more than SCHF over the past 5 years with smaller price swings. That is 2% of the 3,633 screened.
- Among those with at least half SCHF's swings, LVHI has the best return for its risk: 17.0% a year at 11.1% volatility, 34% less than SCHF's 16.8%, and a Sharpe ratio (return above cash per unit of volatility) of 1.48 against 0.63 for SCHF.
- Among SCHF's popular alternatives, HEFA and DBEF are in the region. HEFA earned 13.3% a year against 9.5% a year for SCHF, at 13.8% volatility, 17% less than SCHF's 16.8%.

### Is there a better investment than SCHF?

The table below lists investments that beat SCHF over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes, and, for funds, the same exposure at a lower expense ratio.

- Among SCHF's popular alternatives, DBEF earned more than SCHF with less volatility over the past 5 years: 13.1% a year at 13.8% volatility, against 9.5% a year at 16.8%.
- Looking beyond its popular alternatives, LVHI (international equity) earned more than SCHF with less volatility over the past 5 years: 17.0% a year at 11.1% volatility, against 9.5% a year at 16.8%.
- Across the whole market, 76 of the 3,633 stocks and funds worth at least $500 million earned more than SCHF with less volatility over the past 5 years, among them VTV, VYM and IWD.

The 15 strongest of 76 investments that beat SCHF over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with SCHF | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| SCHF: Schwab International Equity ETF (this page) |  | +9.5% | 16.8% | 0.63 | −34.9% | +155% |  |  |
| SIXA: ETC 6 Meridian Mega Cap Equity ETF | Broad Market | +12.8% | 12.7% | 1.01 | −18.4% | — | 0.85 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [VTV](https://easycompare.io/research/vtv): Vanguard Morningstar Value ETF | US Large-Cap Value | +12.1% | 13.7% | 0.90 | −36.8% | +235% | 0.84 | Higher return, lower volatility; Higher return in most periods |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | International Equity | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.78 | Higher return, lower volatility; Higher return in most periods |
| [VYM](https://easycompare.io/research/vym): Vanguard High Dividend Yield ETF | US Dividend Equity | +11.3% | 13.8% | 0.85 | −35.2% | +208% | 0.81 | Higher return, lower volatility; Higher return in most periods |
| PVAL: Putnam Focused Large Cap Value ETF | US Large-Cap Value | +16.1% | 15.1% | 1.07 | −41.3% | — | 0.81 | Higher return, lower volatility; Higher return in most periods |
| HDV: iShares Core High Dividend ETF | US Dividend Equity | +12.9% | 13.0% | 1.00 | −37.0% | +172% | 0.69 | Higher return, lower volatility; Higher return in most periods |
| DGRW: WisdomTree U.S. Quality Dividend Growth Fund | US Dividend Equity | +11.8% | 14.0% | 0.87 | −32.0% | +276% | 0.83 | Higher return, lower volatility; Higher return in most periods |
| RWL: Invesco S&P 500 Revenue ETF | US Large-Cap Equity | +13.7% | 14.4% | 0.97 | −36.1% | +287% | 0.84 | Higher return, lower volatility; Higher return in most periods |
| FJAN: FT Vest U.S. Equity Buffer ETF - January | Multi-Asset | +11.1% | 10.5% | 1.05 | −13.6% | — | 0.79 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| FDL: First Trust Morningstar Dividend Leaders Index Fund | US Dividend Equity | +13.9% | 14.4% | 0.98 | −41.4% | +199% | 0.68 | Higher return, lower volatility; Higher return in most periods |
| JQUA: JPMorgan U.S. Quality Factor ETF | US Quality Equity | +13.6% | 15.7% | 0.89 | −32.9% | — | 0.82 | Higher return, lower volatility; Higher return in most periods |
| VYMI: Vanguard International High Dividend Yield ETF | International Equity | +13.2% | 14.8% | 0.92 | −40.0% | +176% | 0.93 | Higher return, lower volatility; Higher return in most periods |
| GCOW: Pacer Global Cash Cows Dividend ETF | International | +14.1% | 13.6% | 1.04 | −37.6% | +168% | 0.79 | Higher return, lower volatility; Higher return in most periods |
| IWX: iShares Russell Top 200 Value ETF | Broad Market | +12.7% | 13.8% | 0.94 | −35.8% | +221% | 0.85 | Higher return, lower volatility; Higher return in most periods |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | International Equity | +13.1% | 13.8% | 0.96 | −32.5% | +206% | 0.90 | Higher return, lower volatility; Higher return in most periods |

## SCHF against its popular alternatives

The investments people most often weigh against SCHF, compared period by period and year by year.

### How do SCHF's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings.

- Four of the 13 popular alternatives, led by EFV, HEFA and AVDE, were both more rewarding and calmer than SCHF over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, SCHF returned 9.5% a year, less than the S&P 500's 12.7%, with lower volatility (16.8% against 17.1%).

### Has SCHF consistently beaten its popular alternatives?

This section compares SCHF with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- Four of the 21 popular alternatives, led by SPY, EFV and HEFA, outperformed SCHF in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- SPY outperformed SCHF in every long-term period and in all but one short-term period, the most consistent record in the group.
- HEFA, DBEF and SPY earned more for the risk they took than SCHF (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of SCHF | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| SCHF: Schwab International Equity ETF (this page) | +17.3% | +80.9% | +57.7% | +155% |  |  | 0.63 |
| [SPY](https://easycompare.io/research/spy): State Street SPDR S&P 500 ETF | +15.8% | +89.3% | +81.7% | +321% | 4/5 short-term, 3/3 long-term | all-weather | 0.79 |
| EFV: iShares MSCI EAFE Value ETF | +21.4% | +92.4% | +89.0% | +157% | 5/5 short-term, 2/3 long-term | consistent | 0.88 |
| HEFA: iShares Currency Hedged MSCI EAFE ETF | +17.8% | +75.2% | +86.4% | +210% | 4/5 short-term, 2/3 long-term | consistent | 0.97 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | +17.7% | +74.6% | +85.0% | +206% | 4/5 short-term, 2/3 long-term | consistent | 0.96 |
| AVDE: Avantis International Equity ETF | +16.4% | +83.7% | +61.8% | — | 2/5 short-term, 2/3 long-term |  | 0.67 |
| QEFA: State Street SPDR MSCI EAFE StrategicFactors ETF | +15.2% | +67.9% | +50.1% | +140% | 3/5 short-term, 0/3 long-term |  | 0.63 |
| SCZ: iShares MSCI EAFE Small-Cap ETF | +12.3% | +72.8% | +27.1% | +114% | 2/5 short-term, 0/3 long-term |  | 0.37 |
| BBIN: JPMorgan BetaBuilders International Equity ETF | +12.9% | +71.6% | +52.5% | — | 2/5 short-term, 0/3 long-term |  | 0.59 |
| DFAI: Dimensional - International Core Equity Market ETF | +15.8% | +78.5% | +59.0% | — | 2/5 short-term, 0/3 long-term |  | 0.66 |
| DFIC: Dimensional - International Core Equity 2 ETF | +17.1% | +82.4% | — | — | 2/5 short-term, 0/3 long-term |  | — |
| GSID: Goldman Sachs MarketBeta International Equity ETF | +12.8% | +71.5% | +50.0% | — | 2/5 short-term, 0/3 long-term |  | 0.58 |
| IDEV: iShares Core MSCI International Developed Markets ETF | +13.8% | +75.7% | +51.5% | — | 2/5 short-term, 0/3 long-term |  | 0.59 |
| [IEFA](https://easycompare.io/research/iefa): iShares Core MSCI EAFE ETF | +12.8% | +72.4% | +49.0% | +140% | 1/5 short-term, 0/3 long-term |  | 0.56 |
| [EFA](https://easycompare.io/research/efa): iShares MSCI EAFE ETF | +12.5% | +71.2% | +51.0% | +139% | 1/5 short-term, 0/3 long-term |  | 0.58 |
| EFG: iShares MSCI EAFE Growth ETF | +4.1% | +51.3% | +18.5% | +111% | 1/5 short-term, 0/3 long-term |  | 0.28 |
| CGIE: Capital Group International Equity ETF | +6.7% | +55.0% | — | — | 1/5 short-term, 0/3 long-term |  | — |
| JIRE: JPMorgan International Research Enhanced Equity ETF | +12.6% | +69.6% | — | — | 1/5 short-term, 0/3 long-term |  | — |
| [VEA](https://easycompare.io/research/vea): Vanguard FTSE Developed Markets ETF | +17.0% | +81.0% | +55.9% | +153% | 0/5 short-term, 0/3 long-term |  | 0.61 |
| [SPDW](https://easycompare.io/research/spdw): State Street SPDR Portfolio Developed World ex-US ETF | +17.0% | +81.6% | +54.9% | +153% | 0/5 short-term, 0/3 long-term |  | 0.61 |
| [VXUS](https://easycompare.io/research/vxus): Vanguard Total International Stock ETF | +14.6% | +77.2% | +48.6% | +140% | 0/5 short-term, 0/3 long-term |  | 0.57 |
| [VWO](https://easycompare.io/research/vwo): Vanguard FTSE Emerging Markets ETF | +8.3% | +67.2% | +29.1% | +102% | 0/5 short-term, 0/3 long-term |  | 0.38 |

### How did SCHF do year by year?

This table shows each investment's total return in every full calendar year since 2010, along with where SCHF ranked among its popular alternatives each year.

- SCHF finished ahead of the S&P 500 in four of its 16 full calendar years.
- Among its popular alternatives, HEFA came out ahead of SCHF most often, in eight of the 11 years both traded.
- Ranked against its popular alternatives each year, SCHF finished in the top quarter in one of 16 years and in the bottom quarter in no. In 2025, it ranked 5 of 16.

| Year | SCHF | SPY |
| --- | --- | --- |
| 2025 | +34.6% | +17.7% |
| 2024 | +3.3% | +24.9% |
| 2023 | +18.3% | +26.2% |
| 2022 | −14.8% | −18.2% |
| 2021 | +11.4% | +28.7% |
| 2020 | +9.5% | +18.3% |
| 2019 | +22.2% | +31.2% |
| 2018 | −14.2% | −4.6% |
| 2017 | +26.1% | +21.7% |
| 2016 | +3.0% | +12.0% |

## Risk and diversification

How SCHF has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

### What were SCHF's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In all five of SCHF's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: SCHF fell 23.7% from July 2014 to February 2016, while the S&P 500 slipped only 4.9%.
- The longest climb back to a previous high took 18 months, after SCHF fell 26.4% from April to October 2011.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −34.9% | January 26, 2018 | March 23, 2020 | November 11, 2020 | −18.8% | late-2018 sell-off |
| −29.1% | September 3, 2021 | September 27, 2022 | February 22, 2024 | −18.3% | 2022 bear market |
| −26.4% | April 29, 2011 | October 3, 2011 | April 29, 2013 | −18.6% | 2011 euro debt crisis |
| −23.7% | July 3, 2014 | February 11, 2016 | May 4, 2017 | −4.9% | 2015 China and oil sell-off |
| −19.3% | April 14, 2010 | June 7, 2010 | October 8, 2010 | −13.0% | 2010 flash crash |

### How did SCHF do in stock market crashes?

This section measures how far SCHF, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- Among its popular alternatives, QEFA held up best, falling less than SCHF in five of the six crashes they both traded through.
- SCHF began trading after the 2008 financial crisis, but four of its popular alternatives lived through it. The mildest fall among them was EFG's 58.4%, against 55.2% for the S&P 500.
- SCHF fell less than the S&P 500 in four of the eight crashes it has traded through. The clearest case was the late-2018 sell-off, when SCHF fell 16.4% and the S&P 500 fell 19.3%.

| Crash | Dates | SCHF fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | not trading | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −0.5% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −23.5% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −20.1% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −5.8% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −16.4% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −33.5% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −28.4% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −2.4% | −3.4% |

### How closely does SCHF move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell.

- Only HEFA and EFV had a higher capture ratio (upside capture divided by downside capture) than SCHF's 0.86, out of eight popular alternatives with the same record.
- HEFA took just 62% of the S&P 500's losses, against 93% for SCHF, while still keeping 71% of its gains.
- Over the past 10 years, SCHF captured 79% of the S&P 500's gains in rising months and 93% of its losses in falling months, with a beta of 0.84. Its share of the market's losses was larger than its share of the gains.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| SCHF: Schwab International Equity ETF (this page) | 79.0% | 93.0% | 0.84 |
| EFV: iShares MSCI EAFE Value ETF | 75.0% | 84.0% | 0.76 |
| HEFA: iShares Currency Hedged MSCI EAFE ETF | 71.0% | 62.0% | 0.65 |
| QEFA: State Street SPDR MSCI EAFE StrategicFactors ETF | 70.0% | 82.0% | 0.71 |
| SCZ: iShares MSCI EAFE Small-Cap ETF | 81.0% | 107% | 0.91 |
| EFG: iShares MSCI EAFE Growth ETF | 78.0% | 104% | 0.87 |
| [VEA](https://easycompare.io/research/vea): Vanguard FTSE Developed Markets ETF | 81.0% | 96.0% | 0.86 |
| [VXUS](https://easycompare.io/research/vxus): Vanguard Total International Stock ETF | 76.0% | 91.0% | 0.82 |
| [VWO](https://easycompare.io/research/vwo): Vanguard FTSE Emerging Markets ETF | 63.0% | 75.0% | 0.69 |

### What diversifies SCHF?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in SCHF into DBMF would have cut the portfolio's volatility by 23% over the past 5 years and raised its annual return (+10.6% for SCHF alone, +11.0% for the mix).
- CAH made money in four of the five calendar years in which SCHF lost money.
- Among large ETFs, GLD, XLE and AMLP have moved largely independently of SCHF over the past 5 years, with correlations of 0.44 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with SCHF | 5Y return | Volatility | Sharpe | Rose in SCHF's 5 down years |
| --- | --- | --- | --- | --- | --- |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.44 | +126% | 18.9% | 0.96 | 1 of 5 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.30 | +177% | 25.5% | 0.93 | 2 of 5 |
| AMLP: Alerian MLP ETF | 0.38 | +111% | 18.9% | 0.89 | 3 of 5 |
| DBMF: iMGP DBi Managed Futures Strategy ETF | -0.29 | +59.7% | 12.4% | 0.82 | 1 of 5 |
| DBA: Invesco DB Agriculture Fund | 0.20 | +66.4% | 13.8% | 0.81 | 2 of 5 |
| USO: United States Oil Fund, LP | -0.10 | +176% | 37.7% | 0.73 | 1 of 5 |
| FLSP: Franklin Systematic Style Premia ETF | 0.03 | +49.8% | 13.4% | 0.68 | 1 of 5 |
| PDBC: Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 0.08 | +73.9% | 19.3% | 0.67 | 1 of 5 |

## Common questions

### What was SCHF's worst drawdown?

SCHF's deepest decline since it began trading in 2009 was 34.9%, from January 2018 to March 2020. It took eight months from the low to climb back to its old high. Because SCHF launched in November 2009, that record does not include the dot-com bust or the 2008 financial crisis.

### What were SCHF's best and worst years?

Over 16 full calendar years, SCHF's best year was 2025, when it returned 34.6%. Its worst was 2022, with a return of -14.8%.

### Is there a better investment than SCHF?

Among SCHF's popular alternatives, DBEF earned more than SCHF with less volatility over the past 5 years: 13.1% a year at 13.8% volatility, against 9.5% a year at 16.8%. Looking beyond its popular alternatives, LVHI (international equity) earned more than SCHF with less volatility over the past 5 years: 17.0% a year at 11.1% volatility, against 9.5% a year at 16.8%.

### Is SCHF more volatile than the S&P 500?

No. SCHF's volatility over the past 5 years was 16.8%, 1.0 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, SCHF's return lands within 16.8% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is SCHF's Sharpe ratio?

SCHF's Sharpe ratio over the past 5 years was 0.63, against 0.79 for the S&P 500, so SCHF earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

### How correlated is SCHF with the S&P 500?

Over the past 5 years, SCHF's monthly returns had a correlation of 0.81 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against SCHF instead: the lower it is, the more that option would diversify a SCHF holding.

### What are the best alternatives to SCHF?

Of the 21 popular alternatives we compared, four outperformed SCHF in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: SPY, EFV and HEFA.

### Did SCHF outperform the S&P 500?

SCHF finished ahead of the S&P 500 (SPY) in four of 16 full calendar years. In 2025, it returned +34.6%, against +17.7% for the index.

### How did SCHF do in stock market crashes?

SCHF fell less than the S&P 500 (SPY) in four of the eight major crashes it has traded through, and further in three. The clearest case was the late-2018 sell-off, when SCHF fell 16.4% and the S&P 500 fell 19.3%.

### What diversifies SCHF?

These had a low correlation with SCHF over the past 5 years and still earned a positive 5-year return: among large ETFs, GLD (correlation 0.44), XLE (correlation 0.30) and AMLP (correlation 0.38); among large stocks, CAH (correlation 0.32), CLS (correlation 0.28) and FIX (correlation 0.42). A correlation near zero means the two have moved largely independently.

## More research

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- [Schwab U.S. Dividend Equity ETF (SCHD) Performance, Alternatives and Market Rank](https://easycompare.io/research/schd)
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## Explore further

- Full page with charts: https://easycompare.io/research/schf
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against SCHF live: https://betterthanspy.com/?b=SCHF&utm_source=easycompare&utm_medium=research