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Relative Intelligence · Investment Banking & Brokerage

How Charles Schwab (SCHW) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on SCHW alone. It places SCHW (The Charles Schwab Corporation) 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 SCHW stands in the market, and of the alternatives worth a closer look.

Period covered: SCHW's full trading record, from September 1987 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against SCHW →Chart SCHW vs. 22 alternatives →
On this page12 sections

Key findings

How much would $10,000 in SCHW have grown?

This chart tracks a hypothetical $10,000 investment in SCHW over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of SCHW over the same span and SCHW's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Choose a period

From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 346 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of SCHW; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$20,000$50,000$100,000$200,000$500,000199720022007201220172022$10,000$100,00019972004201120182025
  • SF$522,688+5,127% total · +14.6% a year
  • MSFT$508,386+4,984% total · +14.5% a year
  • RY$442,765+4,328% total · +14.0% a year
  • RJF$332,210+3,222% total · +12.8% a year
  • WMT$272,033+2,620% total · +12.1% a year
  • SCHW$171,783+1,618% total · +10.3% a year
  • MS$148,562+1,386% total · +9.8% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • BNY$121,131+1,111% total · +9.0% a year
  • OPY$109,725+997% total · +8.6% a year
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From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,678 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of SCHW; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000$50,000$60,000$70,000202120222023202420252026$0$20,000$40,000$60,000$80,000202120222023202420252026
  • IBKR$56,308+463% total · +41.3% a year
  • BNY$31,954+220% total · +26.2% a year
  • OPY$28,799+188% total · +23.6% a year
  • VIRT$26,921+169% total · +21.9% a year
  • RY$23,646+136% total · +18.8% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • RJF$18,346+83.5% total · +12.9% a year
  • CME$16,716+67.2% total · +10.8% a year
  • SCHW$14,346+43.5% total · +7.5% a year
  • BLK$14,247+42.5% total · +7.3% a year
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SCHW at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

The company

Market value
$157B
Industry
Financial - Capital Markets
Price history from
September 1987

Returns

Past 1 year
−3.1%total return
Past 3 years
+86.2%+23.0% a year
Past 5 years
+19.1%+3.6% a year
Past 10 years
+221%+12.4% a year
Best calendar year
+102%1998
Worst calendar year
−45.4%2001
Losing years
7 of 29full calendar years

Risk

Volatility
31.9%typical yearly swing, 5 years
Sharpe ratio
0.27return per unit of risk, 5 years
Worst decline ever
−86.8%Apr 1999 to Mar 2003
From its all-time high
−20.0%below the peak

SCHW against the whole market

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

How does SCHW rank among all stocks?

This section ranks SCHW on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history. Where the comparisons with its popular alternatives show how SCHW stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.

MeasureSCHWRankStanding
1-year return−3.1%2,112 of 3,287bottom 37%
3-year return+86.2%1,058 of 3,017top 35%
5-year return+19.1%1,464 of 2,893bottom 50%
10-year return+221%795 of 2,202top 36%
Volatility, 5 years31.9%901 of 2,893top 31%
Sharpe ratio, 5 years0.271,645 of 2,893bottom 44%
Worst decline, past 10 years−51.1%498 of 2,187top 23%

What has beaten SCHW 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). SCHW sits where the dashed lines cross. Anything in the green box above and to the left earned more than SCHW with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to SCHW; faint dots are 89 more of the 1,081 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

−5.0%0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than SCHWV: +12.8% a year, volatility 22.9%DXJ: +26.6% a year, volatility 19.1%COST: +17.4% a year, volatility 22.9%QQQ: +14.5% a year, volatility 23.0%CSCO: +16.8% a year, volatility 26.1%MCK: +38.7% a year, volatility 25.0%MRK: +16.3% a year, volatility 24.8%VTV: +12.1% a year, volatility 13.7%AMGN: +19.6% a year, volatility 24.9%LIN: +11.5% a year, volatility 20.9%VGT: +18.4% a year, volatility 26.0%PGR: +21.3% a year, volatility 25.6%DE: +14.4% a year, volatility 29.9%VIG: +10.4% a year, volatility 14.1%COR: +24.2% a year, volatility 22.8%SCHD: +9.7% a year, volatility 14.3%GWW: +26.3% a year, volatility 24.9%UNP: +7.1% a year, volatility 22.9%MNST: +17.2% a year, volatility 24.9%RSG: +13.9% a year, volatility 18.5%ADP: +9.0% a year, volatility 22.9%MSI: +14.8% a year, volatility 23.6%WM: +9.3% a year, volatility 19.2%FAST: +15.8% a year, volatility 24.6%SCHG: +13.1% a year, volatility 22.4%AJG: +10.9% a year, volatility 24.2%IX: +17.9% a year, volatility 25.4%IRM: +24.6% a year, volatility 30.3%AAPL: +18.5% a year, volatility 28.0%RS: +24.8% a year, volatility 28.1%WCN: +6.1% a year, volatility 20.0%RDVY: +11.3% a year, volatility 18.8%SPHQ: +12.0% a year, volatility 16.7%EXPD: +12.0% a year, volatility 27.1%RWL: +13.7% a year, volatility 14.4%CIBR: +14.1% a year, volatility 26.1%MTUM: +10.9% a year, volatility 22.1%IOO: +15.7% a year, volatility 17.2%EHC: +18.4% a year, volatility 26.8%VLUE: +15.9% a year, volatility 18.4%LECO: +14.1% a year, volatility 27.5%MOAT: +9.1% a year, volatility 18.4%THG: +14.4% a year, volatility 22.9%NHC: +32.0% a year, volatility 28.5%SCI: +7.5% a year, volatility 25.2%RSPT: +16.9% a year, volatility 25.1%XMMO: +10.5% a year, volatility 22.0%TDIV: +16.2% a year, volatility 21.3%IDMO: +13.3% a year, volatility 18.2%LVHI: +17.0% a year, volatility 11.1%SUSA: +10.4% a year, volatility 17.4%NIC: +19.0% a year, volatility 30.1%MA: +12.4% a year, volatility 23.8%EQWL: +11.6% a year, volatility 15.0%PM: +21.0% a year, volatility 23.4%FV: +9.7% a year, volatility 21.1%CHCO: +15.9% a year, volatility 22.8%GILD: +22.8% a year, volatility 24.9%FXL: +11.0% a year, volatility 26.2%BFC: +19.0% a year, volatility 27.3%TJX: +19.9% a year, volatility 22.3%RBCAA: +14.8% a year, volatility 27.9%DBJP: +20.9% a year, volatility 19.2%PTNQ: +9.7% a year, volatility 14.1%CB: +15.7% a year, volatility 20.4%VRTX: +22.6% a year, volatility 29.1%EQL: +13.5% a year, volatility 14.5%ROUS: +12.3% a year, volatility 14.4%QQQE: +8.1% a year, volatility 20.7%TT: +22.7% a year, volatility 27.7%DGT: +13.8% a year, volatility 15.1%QDEF: +12.7% a year, volatility 13.7%RIO: +12.2% a year, volatility 29.0%RCBC: +14.6% a year, volatility 27.2%ETR: +19.2% a year, volatility 22.4%AEP: +12.4% a year, volatility 20.2%ALL: +17.0% a year, volatility 26.2%CSX: +8.3% a year, volatility 23.3%AME: +14.4% a year, volatility 22.1%RACE: +13.3% a year, volatility 30.0%DYNF: +14.7% a year, volatility 17.5%TRP: +10.8% a year, volatility 21.9%PSCT: +10.5% a year, volatility 29.0%SDCI: +20.6% a year, volatility 18.4%EFV: +13.6% a year, volatility 15.9%XLF: +8.6% a year, volatility 18.3%WRB: +18.9% a year, volatility 22.9%JPM: +17.3% a year, volatility 24.3%FNDF: +13.6% a year, volatility 16.3%SCHW: +3.6% a year, volatility 31.9%SPY (S&P 500): +12.7% a year, volatility 17.1%CME: +11.2% a year, volatility 20.8%BLK: +7.1% a year, volatility 27.1%RJF: +10.4% a year, volatility 27.9%ICE: +5.4% a year, volatility 21.8%BNY: +22.7% a year, volatility 24.4%VIRT: +20.8% a year, volatility 33.8%RY: +17.3% a year, volatility 18.2%CBOE: +21.5% a year, volatility 25.1%NDAQ: +8.9% a year, volatility 24.7%MFG: +33.6% a year, volatility 30.6%HSBC: +33.1% a year, volatility 25.9%TFSL: +4.3% a year, volatility 23.5%MSFT: +12.5% a year, volatility 28.2%VTI: +11.5% a year, volatility 17.5%VOO: +12.8% a year, volatility 16.9%WMT: +20.8% a year, volatility 22.6%BRK-B: +13.4% a year, volatility 17.1%ABBV: +26.1% a year, volatility 23.4%GOOG: +19.0% a year, volatility 32.0%SGOV: +3.8% a year, volatility 0.3%CAH: +42.1% a year, volatility 24.7%GS: +19.6% a year, volatility 28.6%MS: +16.0% a year, volatility 28.8%SCHWSPY (S&P 500)BLKRJFICEBNYVIRTRYCBOENDAQMFGHSBCTFSLMSFTVTIWMTBRK-BABBVGOOGSGOVCAHGSMS−10.0%0.0%10.0%20.0%30.0%40.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than SCHWV: +12.8% a year, volatility 22.9%DXJ: +26.6% a year, volatility 19.1%COST: +17.4% a year, volatility 22.9%QQQ: +14.5% a year, volatility 23.0%CSCO: +16.8% a year, volatility 26.1%MCK: +38.7% a year, volatility 25.0%MRK: +16.3% a year, volatility 24.8%VTV: +12.1% a year, volatility 13.7%AMGN: +19.6% a year, volatility 24.9%LIN: +11.5% a year, volatility 20.9%VGT: +18.4% a year, volatility 26.0%PGR: +21.3% a year, volatility 25.6%DE: +14.4% a year, volatility 29.9%VIG: +10.4% a year, volatility 14.1%COR: +24.2% a year, volatility 22.8%SCHD: +9.7% a year, volatility 14.3%GWW: +26.3% a year, volatility 24.9%UNP: +7.1% a year, volatility 22.9%MNST: +17.2% a year, volatility 24.9%RSG: +13.9% a year, volatility 18.5%ADP: +9.0% a year, volatility 22.9%MSI: +14.8% a year, volatility 23.6%WM: +9.3% a year, volatility 19.2%FAST: +15.8% a year, volatility 24.6%SCHG: +13.1% a year, volatility 22.4%AJG: +10.9% a year, volatility 24.2%IX: +17.9% a year, volatility 25.4%IRM: +24.6% a year, volatility 30.3%AAPL: +18.5% a year, volatility 28.0%RS: +24.8% a year, volatility 28.1%WCN: +6.1% a year, volatility 20.0%RDVY: +11.3% a year, volatility 18.8%SPHQ: +12.0% a year, volatility 16.7%EXPD: +12.0% a year, volatility 27.1%RWL: +13.7% a year, volatility 14.4%CIBR: +14.1% a year, volatility 26.1%MTUM: +10.9% a year, volatility 22.1%IOO: +15.7% a year, volatility 17.2%EHC: +18.4% a year, volatility 26.8%VLUE: +15.9% a year, volatility 18.4%LECO: +14.1% a year, volatility 27.5%MOAT: +9.1% a year, volatility 18.4%THG: +14.4% a year, volatility 22.9%NHC: +32.0% a year, volatility 28.5%SCI: +7.5% a year, volatility 25.2%RSPT: +16.9% a year, volatility 25.1%XMMO: +10.5% a year, volatility 22.0%TDIV: +16.2% a year, volatility 21.3%IDMO: +13.3% a year, volatility 18.2%LVHI: +17.0% a year, volatility 11.1%SUSA: +10.4% a year, volatility 17.4%NIC: +19.0% a year, volatility 30.1%MA: +12.4% a year, volatility 23.8%EQWL: +11.6% a year, volatility 15.0%PM: +21.0% a year, volatility 23.4%FV: +9.7% a year, volatility 21.1%CHCO: +15.9% a year, volatility 22.8%GILD: +22.8% a year, volatility 24.9%FXL: +11.0% a year, volatility 26.2%BFC: +19.0% a year, volatility 27.3%TJX: +19.9% a year, volatility 22.3%RBCAA: +14.8% a year, volatility 27.9%DBJP: +20.9% a year, volatility 19.2%PTNQ: +9.7% a year, volatility 14.1%CB: +15.7% a year, volatility 20.4%VRTX: +22.6% a year, volatility 29.1%EQL: +13.5% a year, volatility 14.5%ROUS: +12.3% a year, volatility 14.4%QQQE: +8.1% a year, volatility 20.7%TT: +22.7% a year, volatility 27.7%DGT: +13.8% a year, volatility 15.1%QDEF: +12.7% a year, volatility 13.7%RIO: +12.2% a year, volatility 29.0%RCBC: +14.6% a year, volatility 27.2%ETR: +19.2% a year, volatility 22.4%AEP: +12.4% a year, volatility 20.2%ALL: +17.0% a year, volatility 26.2%CSX: +8.3% a year, volatility 23.3%AME: +14.4% a year, volatility 22.1%RACE: +13.3% a year, volatility 30.0%DYNF: +14.7% a year, volatility 17.5%TRP: +10.8% a year, volatility 21.9%PSCT: +10.5% a year, volatility 29.0%SDCI: +20.6% a year, volatility 18.4%EFV: +13.6% a year, volatility 15.9%XLF: +8.6% a year, volatility 18.3%WRB: +18.9% a year, volatility 22.9%JPM: +17.3% a year, volatility 24.3%FNDF: +13.6% a year, volatility 16.3%SCHW: +3.6% a year, volatility 31.9%SPY (S&P 500): +12.7% a year, volatility 17.1%CME: +11.2% a year, volatility 20.8%BLK: +7.1% a year, volatility 27.1%RJF: +10.4% a year, volatility 27.9%ICE: +5.4% a year, volatility 21.8%BNY: +22.7% a year, volatility 24.4%VIRT: +20.8% a year, volatility 33.8%RY: +17.3% a year, volatility 18.2%CBOE: +21.5% a year, volatility 25.1%NDAQ: +8.9% a year, volatility 24.7%MFG: +33.6% a year, volatility 30.6%HSBC: +33.1% a year, volatility 25.9%TFSL: +4.3% a year, volatility 23.5%MSFT: +12.5% a year, volatility 28.2%VTI: +11.5% a year, volatility 17.5%VOO: +12.8% a year, volatility 16.9%WMT: +20.8% a year, volatility 22.6%BRK-B: +13.4% a year, volatility 17.1%ABBV: +26.1% a year, volatility 23.4%GOOG: +19.0% a year, volatility 32.0%SGOV: +3.8% a year, volatility 0.3%CAH: +42.1% a year, volatility 24.7%GS: +19.6% a year, volatility 28.6%MS: +16.0% a year, volatility 28.8%SCHWSPY (S&P 500)BLKICEBNYVIRTRYCBOENDAQMFGHSBCTFSLVTIABBVGOOGSGOVCAHMS
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than SCHW?

Investments that beat SCHW over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat SCHW 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. It checks SCHW's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than SCHW follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than SCHW's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× SCHW's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than SCHW's.

Screen the whole market against SCHW for any period in BetterThanSPYOpen these 21 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with SCHW?lower diversifies moreExpenseper year
SCHWThe Charles Schwab Corporation · this page
+3.6%31.9%0.27−51.1%+221%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.390.09%
Popular alternativesbest 6 shownThe investments people most often weigh against SCHW. 16 of 22 passed at least one test.
CMECME Group Inc. · Capital Markets
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+11.2%20.8%0.62−37.4%+319%0.19—
BLKBlackRock, Inc. · Asset Management
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+7.1%27.1%0.39−43.9%+313%0.55—
RJFRaymond James Financial, Inc. · Investment Banking & Brokerage
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+10.4%27.9%0.50−45.6%+358%0.76—
ICEIntercontinental Exchange, Inc. · Capital Markets
Higher return, lower volatilityHigher return in most periodsSmaller losses in recent crashes+5.4%21.8%0.35−34.3%+240%0.37—
BNYBank of New York Mellon Corp · Banks
Higher return, lower volatilityHigher return in most periods+22.7%24.4%0.97−50.5%+341%0.61—
VIRTVirtu Financial, Inc. · Capital Markets
Higher return, similar volatilityHigher return in most periods+20.8%33.8%0.73−56.2%+545%0.31—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Investment Banking & Brokerage and Capital Markets and the categories next to it (Asset Management, Banks, Alternative Asset Management, Financial Data), plus SCHW's specific themes. 73 of 116 passed at least one test.
RYRoyal Bank of Canada · Banks
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+17.3%18.2%0.97−40.0%+352%0.45—
CBOECboe Global Markets, Inc. · Capital Markets
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+21.5%25.1%0.91−43.2%+463%0.08—
NDAQNasdaq, Inc. · Capital Markets
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+8.9%24.7%0.47−38.3%+407%0.44—
MFGMizuho Financial Group, Inc. · Banks
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+33.6%30.6%1.10−45.7%+345%0.34—
HSBCHSBC Holdings plc · Banks
Higher return, lower volatilityHigher return in most periodsSmaller losses in recent crashes+33.1%25.9%1.24−62.3%+319%0.37—
TFSLTFS Financial Corporation · Regional Banks
Similar return, lower volatilityHigher return in most periods+4.3%23.5%0.29−42.9%+78.1%0.62—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,602 of 3,495 passed at least one test.
MSFTMicrosoft Corporation · Software
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+12.5%28.2%0.56−37.1%+946%0.18—
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+11.5%17.5%0.71−35.0%+302%0.420.03%
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+12.8%16.9%0.80−34.0%+324%0.390.03%
WMTWalmart Inc. · Discount Retail
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+20.8%22.6%0.96−25.7%+508%0.12—
BRK-BBerkshire Hathaway Inc. · Insurance
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+13.4%17.1%0.82−29.6%+274%0.25—
ABBVAbbVie Inc. · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+26.1%23.4%1.11−45.1%+603%0.10—
GOOGAlphabet Inc. · Internet Services
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+19.0%32.0%0.71−44.6%+752%0.10—
SGOViShares 0-3 Month Treasury Bond ETF · Treasury Bonds
On the frontierSimilar return, lower volatilityHigher Sharpe, smaller worst decline+3.8%0.3%13.25−0.3%—0.050.09%
What these numbers mean for SCHW
Annual return
SCHW returned 3.6% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $11,900. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
SCHW's volatility over the past 5 years was 31.9%, 1.9 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, SCHW's return lands within 31.9% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
SCHW's Sharpe ratio over the past 5 years was 0.27, against 0.79 for the S&P 500, so SCHW 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. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
SCHW's worst fall from a peak to a low over the past 10 years was 51.1%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 51.1% fall takes a 104% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, SCHW's monthly returns had a correlation of 0.39 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against SCHW instead: the lower it is, the more that option would diversify a SCHW holding. Guide: Correlation and diversification →
Show all 1,081 stocks and funds worth at least $500 million that earned more than SCHW with less volatility

Out of 3,633 tested over 5 years. The strongest 100 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with SCHWExpense
1
MSFTMicrosoft Corporation · Software
Whole market+12.5%28.2%0.56−37.1%+946%0.18—
2
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Whole market+11.5%17.5%0.71−35.0%+302%0.420.03%
3
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−34.0%+324%0.390.03%
4
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.12—
5
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.25—
6
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%0.10—
7
RYRoyal Bank of Canada · Banks
Same or nearby category+17.3%18.2%0.97−40.0%+352%0.45—
8
VVisa Inc. · Payment Processing
Whole market+12.8%22.9%0.64−36.4%+429%0.32—
9
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.110.48%
10
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%0.22—
11
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Whole market+14.5%23.0%0.71−35.1%+553%0.210.18%
12
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.8%26.1%0.73−42.0%+374%0.05—
13
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.17—
14
MRKMerck & Co., Inc. · Pharmaceuticals
Whole market+16.3%24.8%0.74−43.4%+241%0.06—
15
VTVVanguard Morningstar Value ETF · US Large-Cap Value
Whole market+12.1%13.7%0.90−36.8%+235%0.490.03%
16
AMGNAmgen Inc. · Biotechnology
Whole market+19.6%24.9%0.85−24.9%+266%0.08—
17
LINLinde plc · Chemicals
Whole market+11.5%20.9%0.63−32.6%+394%0.27—
18
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.4%26.0%0.78−35.1%+779%0.200.09%
19
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.3%25.6%0.89−30.3%+816%0.13—
20
DEDeere & Company · Industrial Machinery
Whole market+14.4%29.9%0.60−37.9%+755%0.40—
21
VIGVanguard Dividend Appreciation ETF · US Dividend Equity
Whole market+10.4%14.1%0.78−31.7%+258%0.410.04%
22
CORCencora, Inc. · Health Care Distribution
Whole market+24.2%22.8%1.07−32.4%+406%0.31—
23
SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity
Whole market+9.7%14.3%0.72−33.4%+252%0.450.06%
24
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.31—
25
UNPUnion Pacific Corporation · Railroads
Whole market+7.1%22.9%0.42−38.7%+295%0.44—
26
MNSTMonster Beverage Corporation · Food & Beverages
Whole market+17.2%24.9%0.77−30.4%+285%0.02—
27
RSGRepublic Services, Inc. · Environmental Services
Whole market+13.9%18.5%0.80−34.0%+446%0.24—
28
ADPAutomatic Data Processing, Inc. · Business Services
Whole market+9.0%22.9%0.49−40.8%+320%0.40—
29
MSIMotorola Solutions, Inc. · Communications Equipment
Whole market+14.8%23.6%0.71−32.8%+625%0.28—
30
WMWaste Management, Inc. · Environmental Services
Whole market+9.3%19.2%0.56−30.1%+344%0.16—
31
FASTFastenal Company · Industrial Distribution
Whole market+15.8%24.6%0.72−30.7%+576%0.22—
32
SCHGSchwab U.S. Large-Cap Growth ETF · US Large-Cap Growth
Whole market+13.1%22.4%0.67−34.5%+451%0.290.04%
33
AJGArthur J. Gallagher & Co. · Insurance
Whole market+10.9%24.2%0.55−44.4%+516%0.22—
34
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.21—
35
IXORIX Corporation · Diversified Financials
Whole market+17.9%25.4%0.78−42.5%+284%0.22—
36
IRMIron Mountain Incorporated · Specialty REITs
Whole market+24.6%30.3%0.88−39.0%+470%0.16—
37
AAPLApple Inc. · Computer Hardware
Whole market+18.5%28.0%0.75−38.5%+1,168%0.03—
38
RSReliance Steel & Aluminum Co. · Metals & Mining
Whole market+24.8%28.1%0.93−40.8%+626%0.22—
39
WCNWaste Connections, Inc. · Environmental Services
Whole market+6.1%20.0%0.40−31.6%+270%0.27—
40
RDVYFirst Trust Rising Dividend Achievers ETF · US Dividend Equity
Whole market+11.3%18.8%0.67−40.6%+322%0.540.47%
41
SPHQInvesco S&P 500 Quality ETF · US Quality Equity
Whole market+12.0%16.7%0.76−31.6%+300%0.310.20%
42
EXPDExpeditors International of Washington, Inc. · Freight & Logistics
Whole market+12.0%27.1%0.56−35.6%+349%0.27—
43
RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity
Whole market+13.7%14.4%0.97−36.1%+287%0.470.39%
44
CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity
Whole market+14.1%26.1%0.64−33.9%+454%0.240.58%
45
MTUMiShares MSCI USA Momentum Factor ETF · US Momentum Equity
Whole market+10.9%22.1%0.58−34.1%+336%0.320.15%
46
IOOiShares Global 100 ETF · Global Equity
Whole market+15.7%17.2%0.94−31.4%+361%0.300.40%
47
EHCEncompass Health Corporation · Health Care Facilities
Whole market+18.4%26.8%0.77−39.5%+340%0.17—
48
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Whole market+15.9%18.4%0.90−39.5%+286%0.320.15%
49
LECOLincoln Electric Holdings, Inc. · Industrial Machinery
Whole market+14.1%27.5%0.62−38.9%+389%0.38—
50
MOATVanEck Morningstar Wide Moat ETF · US Large-Cap Equity
Whole market+9.1%18.4%0.57−33.3%+276%0.410.46%
51
THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance
Whole market+14.4%22.9%0.70−40.1%+291%0.22—
52
CBOECboe Global Markets, Inc. · Capital Markets
Same or nearby category+21.5%25.1%0.91−43.2%+463%0.08—
53
NHCNational HealthCare Corporation · Medical - Care Facilities
Whole market+32.0%28.5%1.12−35.3%+394%0.00—
54
SCIService Corporation International · Death Care
Whole market+7.5%25.2%0.41−34.0%+272%0.31—
55
RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity
Whole market+16.9%25.1%0.75−33.7%+572%0.260.40%
56
XMMOInvesco S&P MidCap Momentum ETF · US Mid-Cap Equity
Whole market+10.5%22.0%0.56−36.7%+390%0.400.34%
57
TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity
Whole market+16.2%21.3%0.81−32.0%+388%0.190.50%
58
NDAQNasdaq, Inc. · Capital Markets
Same or nearby category+8.9%24.7%0.47−38.3%+407%0.44—
59
IDMOInvesco S&P International Developed Momentum ETF · International Equity
Whole market+13.3%18.2%0.78−31.3%+229%0.410.25%
60
CMECME Group Inc. · Capital Markets
Popular alternative+11.2%20.8%0.62−37.4%+319%0.19—
61
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.300.40%
62
SUSAiShares ESG Optimized MSCI USA ETF · Broad Market
Whole market+10.4%17.4%0.66−32.9%+302%0.410.25%
63
NICNicolet Bankshares, Inc. · Banks - Regional
Whole market+19.0%30.1%0.73−44.3%+344%0.52—
64
MAMastercard Incorporated · Payment Processing
Whole market+12.4%23.8%0.61−41.0%+541%0.34—
65
EQWLInvesco S&P 100 Equal Weight ETF · Broad Market
Whole market+11.6%15.0%0.81−34.3%+291%0.470.30%
66
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%0.16—
67
FVFirst Trust Dorsey Wright Focus 5 ETF · Broad Market
Whole market+9.7%21.1%0.55−34.0%+247%0.500.30%
68
CHCOCity Holding Company · Banks - Regional
Whole market+15.9%22.8%0.77−32.3%+286%0.53—
69
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%0.05—
70
FXLFirst Trust Technology AlphaDEX Fund · Technology
Whole market+11.0%26.2%0.53−38.5%+523%0.320.60%
71
BFCBank First Corporation · Banks - Regional
Whole market+19.0%27.3%0.78−39.8%+496%0.44—
72
TJXThe TJX Companies, Inc. · Specialty Retail
Whole market+19.9%22.3%0.93−42.5%+361%0.19—
73
RBCAARepublic Bancorp, Inc. · Banks - Regional
Whole market+14.8%27.9%0.64−44.7%+318%0.29—
74
DBJPXtrackers MSCI Japan Hedged Equity ETF · International
Whole market+20.9%19.2%1.09−31.3%+348%0.080.45%
75
PTNQPacer Trendpilot 100 ETF · Technology
Whole market+9.7%14.1%0.73−28.1%+305%-0.010.65%
76
CBChubb Limited · Property & Casualty Insurance
Whole market+15.7%20.4%0.82−42.6%+248%0.28—
77
VRTXVertex Pharmaceuticals Incorporated · Biotechnology
Whole market+22.6%29.1%0.85−41.6%+521%0.01—
78
EQLALPS Equal Sector Weight ETF · Broad Market
Whole market+13.5%14.5%0.94−34.2%+387%0.440.19%
79
ROUSHartford Multifactor US Equity ETF · Broad Market
Whole market+12.3%14.4%0.88−35.5%+238%0.400.19%
80
QQQEDirexion NASDAQ-100 Equal Weighted Index ETF · Broad Market
Whole market+8.1%20.7%0.48−32.1%+294%0.360.35%
81
TTTrane Technologies plc · Building Products
Whole market+22.7%27.7%0.88−40.5%+955%0.34—
82
DGTState Street SPDR Global Dow ETF · International
Whole market+13.8%15.1%0.94−34.4%+261%0.410.50%
83
QDEFNorthern Trust Quality Dividend Defensive ETF · Dividend & Income
Whole market+12.7%13.7%0.94−35.7%+228%0.390.40%
84
RIORio Tinto Group · Metals & Mining
Whole market+12.2%29.0%0.54−37.5%+464%0.18—
85
RCBCRiver City Bank · Banks - Regional
Whole market+14.6%27.2%0.64−45.5%+345%0.40—
86
ETREntergy Corporation · Electric Utilities
Whole market+19.2%22.4%0.90−42.0%+311%0.18—
87
AEPAmerican Electric Power Company, Inc. · Electric Utilities
Whole market+12.4%20.2%0.68−32.9%+185%0.12—
88
ALLThe Allstate Corporation · Property & Casualty Insurance
Whole market+17.0%26.2%0.73−41.4%+356%0.38—
89
CSXCSX Corporation · Railroads
Whole market+8.3%23.3%0.46−40.5%+446%0.42—
90
AMEAMETEK, Inc. · Electronic Instruments
Whole market+14.4%22.1%0.72−42.7%+481%0.36—
91
RACEFerrari N.V. · Automobiles
Whole market+13.3%30.0%0.57−39.2%+711%0.12—
92
DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity
Whole market+14.7%17.5%0.87−34.7%—0.380.26%
93
TRPTC Energy Corporation · Oil & Gas Midstream
Whole market+10.8%21.9%0.58−41.6%+160%0.16—
94
PSCTInvesco S&P SmallCap Information Technology ETF · Technology
Whole market+10.5%29.0%0.49−40.4%+284%0.220.29%
95
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—0.180.80%
96
EFViShares MSCI EAFE Value ETF · International Equity
Whole market+13.6%15.9%0.88−43.2%+157%0.370.31%
97
XLFState Street Financial Select Sector SPDR ETF · Financial Sector Equity
Whole market+8.6%18.3%0.54−42.9%+241%0.690.08%
98
WRBW. R. Berkley Corporation · Property & Casualty Insurance
Whole market+18.9%22.9%0.87−45.3%+443%0.21—
99
JPMJPMorgan Chase & Co. · Banks
Same or nearby category+17.3%24.3%0.78−43.6%+537%0.67—
100
FNDFSchwab Fundamental International Large Company Index ETF · International Equity
Whole market+13.6%16.3%0.87−40.2%+194%0.320.25%

SCHW against its popular alternatives

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

How do SCHW'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. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at SCHW, which divides the map into what did better or worse on each measure.

Green points earned more than SCHW with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%−20.0%−10.0%0.0%10.0%20.0%30.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilitySCHW: 3.6% a year, volatility 31.9%SPY (S&P 500): 12.7% a year, volatility 17.1%BNY: 22.7% a year, volatility 24.4%BLK: 7.1% a year, volatility 27.1%MS: 16.0% a year, volatility 28.8%GS: 19.6% a year, volatility 28.6%AMP: 12.1% a year, volatility 27.8%CME: 11.2% a year, volatility 20.8%ICE: 5.4% a year, volatility 21.8%RJF: 10.4% a year, volatility 27.9%SF: 8.4% a year, volatility 31.0%TW: 7.8% a year, volatility 27.8%MKTX: −15.4% a year, volatility 35.3%TIGR: −13.1% a year, volatility 79.4%IBKR: 35.4% a year, volatility 35.4%VIRT: 20.8% a year, volatility 33.8%OPY: 17.2% a year, volatility 33.4%BGC: 17.3% a year, volatility 38.2%LPLA: 13.6% a year, volatility 36.2%PIPR: 13.5% a year, volatility 35.5%FUTU: 10.4% a year, volatility 70.2%HOOD: 18.6% a year, volatility 68.6%JEF: 5.4% a year, volatility 36.5%TROW: −8.9% a year, volatility 30.5%SCHWSPY (S&P 500)BNYBLKMSGSAMPICERJFSFTWMKTXTIGRIBKRVIRTOPYBGCLPLAPIPRFUTUHOODJEFTROW0.0%20.0%40.0%60.0%80.0%−20.0%−10.0%0.0%10.0%20.0%30.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilitySCHW: 3.6% a year, volatility 31.9%SPY (S&P 500): 12.7% a year, volatility 17.1%BNY: 22.7% a year, volatility 24.4%BLK: 7.1% a year, volatility 27.1%MS: 16.0% a year, volatility 28.8%GS: 19.6% a year, volatility 28.6%AMP: 12.1% a year, volatility 27.8%CME: 11.2% a year, volatility 20.8%ICE: 5.4% a year, volatility 21.8%RJF: 10.4% a year, volatility 27.9%SF: 8.4% a year, volatility 31.0%TW: 7.8% a year, volatility 27.8%MKTX: −15.4% a year, volatility 35.3%TIGR: −13.1% a year, volatility 79.4%IBKR: 35.4% a year, volatility 35.4%VIRT: 20.8% a year, volatility 33.8%OPY: 17.2% a year, volatility 33.4%BGC: 17.3% a year, volatility 38.2%LPLA: 13.6% a year, volatility 36.2%PIPR: 13.5% a year, volatility 35.5%FUTU: 10.4% a year, volatility 70.2%HOOD: 18.6% a year, volatility 68.6%JEF: 5.4% a year, volatility 36.5%TROW: −8.9% a year, volatility 30.5%SCHWSPY (S&P 500)BNYBLKMSGSCMEICESFMKTXTIGRIBKRVIRTOPYFUTUHOODTROW
All figures
InvestmentAnnual returnVolatility
IBKR Interactive Brokers Group, Inc.+35.4%35.4%
BNY Bank of New York Mellon Corp+22.7%24.4%
VIRT Virtu Financial, Inc.+20.8%33.8%
GS The Goldman Sachs Group, Inc.+19.6%28.6%
HOOD Robinhood Markets, Inc.+18.6%68.6%
BGC BGC Group, Inc+17.3%38.2%
OPY Oppenheimer Holdings Inc.+17.2%33.4%
MS Morgan Stanley+16.0%28.8%
LPLA LPL Financial Holdings Inc.+13.6%36.2%
PIPR Piper Sandler Companies+13.5%35.5%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
AMP Ameriprise Financial, Inc.+12.1%27.8%
CME CME Group Inc.+11.2%20.8%
RJF Raymond James Financial, Inc.+10.4%27.9%
FUTU Futu Holdings Limited+10.4%70.2%
SF Stifel Financial Corp+8.4%31.0%
TW Tradeweb Markets Inc.+7.8%27.8%
BLK BlackRock, Inc.+7.1%27.1%
JEF Jefferies Financial Group Inc.+5.4%36.5%
ICE Intercontinental Exchange, Inc.+5.4%21.8%
SCHW This pageThe Charles Schwab Corporation+3.6%31.9%
TROW T. Rowe Price Group, Inc.−8.9%30.5%
TIGR UP Fintech Holding Ltd. Sponsored ADR Class A−13.1%79.4%
MKTX MarketAxess Holdings Inc.−15.4%35.3%
Open these 24 in EasyCompare

Has SCHW consistently beaten its popular alternatives?

This section compares SCHW with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than SCHW helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than SCHW over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
SCHW The Charles Schwab Corporation (this page)—−15.0%−11.1%−1.8%−9.6%−3.1%+86.2%+19.1%+221%31.9%0.27−51.1%—$157B—
IBKR QualifiedInteractive Brokers Group, Inc.5/5 short3/3 longAll-weather−11.1%−9.5%+2.2%+23.7%+24.4%+320%+355%+935%35.4%1.04−55.1%—$146B—
VIRT QualifiedVirtu Financial, Inc.5/5 short3/3 longAll-weather−1.5%+1.1%+13.8%+77.5%+76.5%+243%+158%+545%33.8%0.73−56.2%—$5.0B—
BNY QualifiedBank of New York Mellon Corp5/5 short3/3 longAll-weather−6.3%−7.7%+7.4%+24.8%+35.3%+272%+179%+341%24.4%0.97−50.5%—$98B—
BLK QualifiedBlackRock, Inc.5/5 short3/3 longAll-weather+3.5%+7.6%+8.8%+5.7%−0.6%+96.3%+41.1%+313%27.1%0.39−43.9%—$175B—
OPY QualifiedOppenheimer Holdings Inc.3/5 short3/3 long−15.5%−6.8%−11.0%+39.4%+50.8%+201%+121%+743%33.4%0.64−54.9%—$1.1B—
MS QualifiedMorgan Stanley3/5 short3/3 long−12.5%−14.0%−4.4%+0.8%+13.9%+170%+110%+627%28.8%0.66−51.3%—$285B—
GS QualifiedThe Goldman Sachs Group, Inc.3/5 short3/3 long−7.8%−15.7%−5.2%−1.8%+18.2%+215%+145%+521%28.6%0.77−48.8%—$258B—
AMP QualifiedAmeriprise Financial, Inc.5/5 short2/3 long−9.0%−7.0%+7.5%−0.3%+4.5%+62.6%+76.8%+507%27.8%0.55−53.9%—$43B—
CME QualifiedCME Group Inc.5/5 short2/3 long+7.2%+21.0%+3.8%+13.2%+14.6%+57.7%+70.1%+319%20.8%0.62−37.4%—$106B—
ICE QualifiedIntercontinental Exchange, Inc.5/5 short2/3 long+2.1%+12.4%−0.6%+0.1%+3.5%+52.4%+30.0%+240%21.8%0.35−34.3%—$89B—
BGC QualifiedBGC Group, Inc5/5 short2/3 long−6.6%+4.1%+0.6%+31.0%+27.4%+105%+122%+182%38.2%0.61−75.3%—$5.4B—
RJF QualifiedRaymond James Financial, Inc.4/5 short2/3 long−5.7%−7.4%+2.7%−4.1%−4.5%+69.5%+64.2%+358%27.9%0.50−45.6%—$30B—
LPLA QualifiedLPL Financial Holdings Inc.3/5 short2/3 long−3.1%−1.8%−0.3%−10.7%−4.9%+47.1%+88.9%+1,057%36.2%0.54−60.3%—$25B—
PIPR Investment - Banking & Investment ServicesPiper Sandler Companies1/5 short3/3 long−13.2%−15.5%−29.3%−24.9%−20.5%+103%+88.4%+762%35.5%0.54−60.0%—$4.5B—
FUTU Financial - Capital MarketsFutu Holdings Limited2/5 short2/3 long−7.5%+7.4%−36.0%−39.9%−36.1%+89.7%+63.7%—70.2%0.49−87.2%—$15B—
HOOD Financial - Capital MarketsRobinhood Markets, Inc.2/5 short2/3 long−20.3%−1.1%+7.6%−14.8%−27.7%+976%+135%—68.6%0.59−90.2%—$78B—
SF Financial - Capital MarketsStifel Financial Corp1/5 short2/3 long−11.7%−13.4%−17.4%−20.8%−9.0%+86.5%+49.5%+374%31.0%0.41−51.8%—$10B—
JEF Financial - Capital MarketsJefferies Financial Group Inc.1/5 short2/3 long−5.9%−17.8%−3.9%−27.5%−14.2%+51.7%+30.3%+249%36.5%0.33−54.4%—$8.5B—
TW Financial - Capital MarketsTradeweb Markets Inc.5/5 short1/3 long+14.3%+18.9%+4.0%+12.8%+10.2%+48.4%+45.3%—27.8%0.41−48.6%—$26B—
MKTX Financial - Capital MarketsMarketAxess Holdings Inc.5/5 short0/3 long+0.6%+43.8%+0.8%−6.5%−1.9%−26.8%−56.7%+19.9%35.3%-0.30−80.3%—$5.8B—
TROW Asset ManagementT. Rowe Price Group, Inc.4/5 short0/3 long−2.4%−11.2%+6.7%+1.5%+3.1%+22.7%−37.4%+126%30.5%-0.16−58.2%—$22B—
TIGR Financial - Capital MarketsUP Fintech Holding Ltd. Sponsored ADR Class A0/5 short0/3 long−16.2%−12.4%−42.3%−60.7%−58.6%−9.7%−50.5%—79.4%0.21−93.7%—$737M—
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How did SCHW do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where SCHW ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with SCHW and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of SCHW; gray means the two finished within a fraction of a point. The rank row places SCHW among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of SCHW20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
SCHW This pageThe Charles Schwab Corporation—+36.6%+9.2%−16.0%+0.1%+60.2%+13.6%+16.4%−18.4%+31.1%+21.0%+9.9%+17.2%+83.3%+29.8%−33.1%−7.8%+18.1%−36.1%+40.0%+32.8%+23.5%+1.7%+9.5%−29.5%−45.4%+11.4%+36.3%+102%+97.6%
Rank among alternativesTop quarter in 8 of 298 of 2322 of 2323 of 234 of 234 of 2218 of 2214 of 1912 of 1910 of 198 of 195 of 188 of 184 of 184 of 1814 of 1814 of 1715 of 173 of 175 of 169 of 165 of 1410 of 1312 of 1210 of 1110 of 1110 of 112 of 81 of 83 of 8
SPY S&P 500State Street SPDR S&P 500 ETF12 of 29+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%+33.5%
IBKR Interactive Brokers Group, Inc.10 of 18+46.3%+114%+15.2%−8.3%+31.2%+31.7%−14.0%−7.1%+62.8%−15.4%+51.0%+21.7%+82.8%+1.0%−14.5%+11.1%−0.9%−44.6%———————————
VIRT Virtu Financial, Inc.4 of 10−4.2%+83.0%+4.6%−26.5%+18.6%+64.3%−34.8%+46.0%+21.4%−25.4%———————————————————
BNY Bank of New York Mellon Corp11 of 29+54.4%+51.9%+18.5%−19.1%+40.6%−12.9%+9.6%−10.8%+15.7%+17.1%+3.3%+18.3%+38.6%+32.1%−32.8%+9.3%+0.9%−40.4%+20.0%+26.8%−1.2%+4.8%+45.2%−38.9%−23.4%+42.7%+1.6%+41.6%+75.3%
BLK BlackRock, Inc.15 of 26+6.6%+29.3%+17.9%−20.4%+29.4%+47.2%+31.9%−21.6%+38.2%+14.6%−2.4%+15.7%+57.0%+19.8%−3.6%−15.9%+76.6%−37.0%+45.1%+41.8%+42.4%+47.6%+35.9%−5.5%−0.7%+144%———
OPY Oppenheimer Holdings Inc.11 of 29+15.5%+57.3%−0.9%−7.2%+52.7%+20.4%+9.4%−3.3%+47.6%+10.2%−23.7%−4.5%+47.0%+10.3%−37.3%−19.8%+164%−69.0%+28.1%+69.7%−20.3%−23.7%+36.0%−9.4%+19.2%+64.2%−13.1%+1.9%+21.9%
MS Morgan Stanley14 of 29+45.2%+39.7%+13.9%−10.3%+46.6%+38.1%+32.7%−22.8%+26.6%+36.1%−16.7%+25.0%+65.4%+27.6%−43.9%−7.5%+88.3%−68.8%−22.1%+46.3%+4.6%−2.0%+48.4%−27.0%−28.1%+12.3%+103%+21.9%+80.3%
GS The Goldman Sachs Group, Inc.15 of 26+56.6%+52.0%+15.9%−7.9%+47.6%+17.4%+40.5%−33.5%+7.4%+34.9%−5.8%+10.8%+40.8%+43.4%−45.6%+0.5%+103%−60.4%+8.6%+57.4%+23.9%+6.5%+46.3%−26.0%−12.8%+14.1%———
AMP Ameriprise Financial, Inc.11 of 20−6.7%+42.1%+24.0%+5.0%+57.9%+19.8%+64.0%−36.8%+56.4%+7.7%−17.8%+17.2%+88.4%+29.5%−12.3%+50.7%+70.6%−56.9%+2.1%+34.3%—————————
CME CME Group Inc.13 of 23+19.8%+15.4%+31.3%−22.9%+29.5%−6.3%+9.7%+32.1%+32.4%+33.9%+4.4%+18.3%+64.0%+11.4%−22.7%−2.7%+64.3%−68.8%+35.3%+39.5%+61.8%+219%+67.5%——————
ICE Intercontinental Exchange, Inc.11 of 20+9.9%+17.5%+27.1%−23.9%+19.9%+26.2%+24.5%+8.1%+26.6%+11.5%+18.3%−1.3%+82.2%+2.7%+1.2%+6.1%+36.2%−57.2%+78.4%+197%—————————
BGC BGC Group, Inc12 of 26−0.6%+26.5%+92.6%−17.8%+17.1%−30.0%+27.8%−43.6%+56.1%+11.6%+14.0%+60.3%+91.1%−34.7%−22.4%+94.4%+85.6%−74.2%+29.6%+13.4%−37.9%−47.3%+38.6%+105%−47.4%−55.9%———
RJF Raymond James Financial, Inc.13 of 29+4.7%+40.8%+6.1%+8.3%+59.5%+8.7%+22.8%−15.7%+30.0%+21.3%+2.5%+11.1%+37.2%+26.3%−3.7%+39.8%+41.8%−46.4%+8.7%+22.1%+22.9%+24.7%+28.9%−15.8%+3.1%+89.7%−10.6%−19.3%+100%
LPLA LPL Financial Holdings Inc.8 of 15+9.8%+44.1%+5.9%+35.7%+54.6%+14.6%+52.9%+8.5%+66.0%−14.1%−2.0%−3.4%+70.1%−1.3%−16.0%——————————————
PIPR Piper Sandler Companies13 of 22+15.5%+74.3%+37.8%−23.4%+85.3%+29.7%+33.6%−10.7%+28.2%+79.7%−30.5%+46.8%+23.2%+58.8%−42.2%−30.9%+27.3%−14.2%−28.9%+61.4%−15.8%+15.5%———————
FUTU Futu Holdings Limited4 of 6+105%+49.8%+34.4%−6.1%−5.4%+343%———————————————————————
HOOD Robinhood Markets, Inc.3 of 4+204%+192%+56.5%−54.2%—————————————————————————
SF Stifel Financial Corp15 of 29+20.9%+57.2%+22.7%−14.8%+41.4%+27.1%+48.8%−29.5%+20.0%+17.9%−16.9%+6.4%+49.9%−0.3%−22.5%+4.8%+29.1%+30.7%+34.2%+4.2%+79.5%+43.1%+75.7%+7.1%−5.9%+17.4%+1.8%−34.3%+106%
JEF Jefferies Financial Group Inc.14 of 29−18.8%+98.9%+27.8%−8.5%+61.9%+18.9%+35.1%−33.2%+15.5%+35.5%−21.5%−20.1%+23.5%+5.8%−21.2%+23.8%+20.1%−58.0%+67.9%+19.9%+3.0%+51.6%+24.4%+32.2%−17.9%+54.6%+26.1%−8.3%+30.1%
TW Tradeweb Markets Inc.3 of 6−17.5%+44.6%+40.6%−34.9%+61.0%+35.5%———————————————————————
MKTX MarketAxess Holdings Inc.11 of 21−18.5%−21.8%+6.1%−31.5%−27.5%+51.3%+80.7%+5.6%+38.3%+32.7%+57.0%+8.3%+91.7%+23.8%+46.8%+52.4%+71.1%−36.3%−5.5%+18.7%−32.8%————————
TROW T. Rowe Price Group, Inc.14 of 29−4.7%+9.7%+3.4%−42.2%+34.9%+28.1%+35.6%−9.8%+43.4%+8.5%−12.2%+4.7%+31.3%+18.1%−9.8%+23.8%+54.2%−40.6%+41.1%+23.0%+17.6%+33.2%+77.2%−19.8%−16.3%+15.8%+9.3%+10.1%+46.0%
TIGR UP Fintech Holding Ltd. Sponsored ADR Class A4 of 6+48.0%+46.2%+29.6%−30.6%−38.2%+124%———————————————————————
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Risk and diversification

How SCHW 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 SCHW's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents SCHW's five deepest drawdowns since it began trading in 1987, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Green means SCHW fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringSCHW fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Dot-com bust−86.8%−37.7%Apr 1999Mar 20033.9 yearsJan 201713.8 years
No named crash−65.4%—Sep 1987Dec 19873 monthsMar 19902.3 years
No named crash−53.9%—Mar 1992Sep 19926 monthsApr 19937 months
Late-2018 sell-off−51.1%−5.9%May 2018Mar 202022 monthsJan 202110 months
2022 bear market−49.7%−11.1%Jan 2022May 202316 monthsJun 20252.1 years

How did SCHW do in stock market crashes?

This section measures how far SCHW, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than SCHW.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
SCHW This pageThe Charles Schwab Corporation—−31.9%−36.9%−41.5%−26.5%−8.2%−37.0%−28.9%−5.5%−56.0%−83.1%
SPY S&P 500State Street SPDR S&P 500 ETF10 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
IBKR Interactive Brokers Group, Inc.8 of 9−14.3%−33.3%−38.0%−18.2%−5.6%−32.6%−14.2%−2.6%−63.7%—
VIRT Virtu Financial, Inc.5 of 6−8.7%−44.4%−21.7%−9.6%−3.4%−20.9%————
BNY Bank of New York Mellon Corp7 of 10−11.4%−40.5%−40.1%−16.2%−5.4%−27.0%−30.9%−0.5%−62.4%−62.6%
BLK BlackRock, Inc.7 of 10−7.2%−40.8%−42.3%−25.2%−7.1%−19.9%−23.9%0.0%−60.4%−33.0%
OPY Oppenheimer Holdings Inc.4 of 10−9.9%−41.4%−46.3%−28.1%−7.4%−35.6%−47.9%−5.4%−85.3%−30.3%
MS Morgan Stanley6 of 10−8.2%−32.4%−50.6%−24.6%−6.7%−43.9%−47.7%0.0%−86.2%−72.0%
GS The Goldman Sachs Group, Inc.6 of 10−9.7%−30.5%−42.8%−33.3%−5.3%−31.2%−34.3%0.0%−78.8%−54.7%
AMP Ameriprise Financial, Inc.3 of 9−14.9%−31.5%−53.9%−35.3%−8.9%−38.2%−32.3%−2.6%−81.1%—
CME CME Group Inc.8 of 9−3.4%−31.7%−37.4%−9.4%−4.3%−17.3%−18.0%−1.9%−77.5%—
ICE Intercontinental Exchange, Inc.7 of 9−7.0%−33.8%−33.0%−13.3%−9.4%−12.7%−19.3%−2.0%−73.9%—
BGC BGC Group, Inc4 of 10−4.0%−34.0%−54.4%−31.3%−7.3%−16.7%−30.0%−9.1%−88.1%−93.8%
RJF Raymond James Financial, Inc.5 of 10−16.2%−25.8%−45.6%−26.5%−8.8%−31.6%−29.3%−0.3%−69.7%−40.7%
LPLA LPL Financial Holdings Inc.5 of 7−19.8%−24.7%−60.3%−19.8%−4.5%−46.0%−28.1%———
PIPR Piper Sandler Companies5 of 9−12.4%−41.5%−59.6%−20.0%−5.6%−27.8%−46.7%−2.8%−67.7%—
FUTU Futu Holdings Limited2 of 3−6.9%−50.2%−37.8%———————
HOOD Robinhood Markets, Inc.1 of 2−6.8%−60.4%————————
SF Stifel Financial Corp5 of 10−17.1%−34.9%−51.8%−28.7%−8.3%−47.4%−39.6%−4.2%−41.5%−31.3%
JEF Jefferies Financial Group Inc.4 of 10−15.2%−35.3%−48.3%−29.9%−9.3%−37.0%−39.3%−3.3%−80.7%−28.6%
TW Tradeweb Markets Inc.2 of 3−5.9%−44.3%−30.1%———————
MKTX MarketAxess Holdings Inc.7 of 9−3.4%−44.0%−25.5%−13.1%−4.1%−12.7%−20.1%−3.8%−72.8%—
TROW T. Rowe Price Group, Inc.8 of 10−6.8%−48.2%−38.0%−23.4%−7.2%−15.0%−23.4%−1.7%−67.4%−54.1%
TIGR UP Fintech Holding Ltd. Sponsored ADR Class A1 of 3−13.1%−50.8%−44.4%———————
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How closely does SCHW 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. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares SCHW with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than SCHW's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
SCHW This pageThe Charles Schwab Corporation89%90%0.990.91
CME CME Group Inc.50%11%4.480.33
LPLA LPL Financial Holdings Inc.110%52%2.130.85
OPY Oppenheimer Holdings Inc.119%74%1.601.12
IBKR Interactive Brokers Group, Inc.128%92%1.401.03
PIPR Piper Sandler Companies152%142%1.071.39
RJF Raymond James Financial, Inc.103%97%1.061.07
MS Morgan Stanley142%137%1.041.39
GS The Goldman Sachs Group, Inc.136%133%1.021.39
BNY Bank of New York Mellon Corp115%120%0.961.08
SF Stifel Financial Corp120%125%0.961.25
ICE Intercontinental Exchange, Inc.88%94%0.940.84
AMP Ameriprise Financial, Inc.141%152%0.931.41
BGC BGC Group, Inc96%118%0.821.42
BLK BlackRock, Inc.127%157%0.811.30
JEF Jefferies Financial Group Inc.147%197%0.751.52
TROW T. Rowe Price Group, Inc.118%172%0.681.35
MKTX MarketAxess Holdings Inc.40%74%0.540.62
VIRT Virtu Financial, Inc.45%-28%—0.20
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What diversifies SCHW?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with SCHW's. Because such investments tend not to fall at the same time, pairing SCHW with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which SCHW lost money. The last two columns show a portfolio that is 80% SCHW and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe202320182011201020082002200180/20 mix volatility80/20 mix annual return
SCHW The Charles Schwab Corporation (this page)1.00+19.1%0.27−16.0%−18.4%−33.1%−7.8%−36.1%−29.5%−45.4%31.4%+7.5%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.30+119%1.48+17.4%−5.2%—————25.8%+10.2%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.11+225%1.34+42.0%−19.8%−16.1%−1.8%−20.8%——25.5%+12.2%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.44+101%1.04+8.0%−8.7%—————26.6%+9.8%
HDV Dividend & IncomeiShares Core High Dividend ETF0.37+83.3%1.00+1.8%−3.0%—————26.3%+9.3%
EWP Broad MarketiShares MSCI Spain ETF0.33+140%0.97+30.3%−15.3%−9.8%−18.8%−36.8%−13.6%−9.2%26.6%+11.0%
SMH TechnologyVanEck Semiconductor ETF0.13+323%0.97+73.4%−9.1%+6.8%+19.0%−44.7%−47.0%−14.6%27.0%+14.7%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.31+85.0%0.96+20.1%−9.5%—————25.9%+9.6%
GLD CommoditiesSPDR Gold Shares-0.04+126%0.96+12.7%−1.9%+9.6%+29.3%+4.9%——25.2%+10.8%

Stocks

InvestmentCorrelation5Y returnSharpe202320182011201020082002200180/20 mix volatility80/20 mix annual return
SCHW The Charles Schwab Corporation (this page)1.00+19.1%0.27−16.0%−18.4%−33.1%−7.8%−36.1%−29.5%−45.4%31.4%+7.5%
CAH Medical - DistributionCardinal Health, Inc.0.21+479%1.55+34.1%−24.5%+8.1%+21.4%−39.6%−8.3%−2.5%26.8%+14.3%
CLS Hardware, Equipment & PartsCelestica Inc.0.31+3,143%1.47+160%−16.3%−24.4%+2.8%−20.5%−65.1%−25.6%30.9%+26.2%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.27+1,636%1.46+79.6%+0.8%−17.0%+8.7%−15.2%−9.4%+73.7%28.9%+22.6%
MCK Medical - DistributionMcKesson Corporation0.17+413%1.44+24.1%−28.4%+11.8%+13.8%−40.4%−27.2%+4.9%26.5%+13.8%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.16+690%1.41+30.4%−8.2%—————27.0%+16.4%
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Common questions

What was SCHW's worst drawdown?

SCHW's deepest decline since it began trading in 1987 was 86.8%, from April 1999 to March 2003. It took about 14 years from the low to climb back to its old high.

What were SCHW's best and worst years?

Over 29 full calendar years, SCHW's best year was 1998, when it returned 102%. Its worst was 2001, with a return of -45.4%.

Is there a better investment than SCHW?

Among SCHW's popular alternatives, CME, BLK and RJF earned more than SCHW with less volatility over the past 5 years. CME returned 11.2% a year at 20.8% volatility, against 3.6% a year at 31.9%. Looking beyond its popular alternatives, RY (banks) and CBOE (capital markets) earned more than SCHW with less volatility over the past 5 years. RY returned 17.3% a year at 18.2% volatility, against 3.6% a year at 31.9%.

Is SCHW more volatile than the S&P 500?

Yes. SCHW's volatility over the past 5 years was 31.9%, 1.9 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, SCHW's return lands within 31.9% 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 SCHW's Sharpe ratio?

SCHW's Sharpe ratio over the past 5 years was 0.27, against 0.79 for the S&P 500, so SCHW 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 SCHW with the S&P 500?

Over the past 5 years, SCHW's monthly returns had a correlation of 0.39 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against SCHW instead: the lower it is, the more that option would diversify a SCHW holding.

What are the best alternatives to SCHW?

Of the 22 popular alternatives we compared, 13 outperformed SCHW in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: IBKR, VIRT and BNY.

Did SCHW outperform the S&P 500?

SCHW finished ahead of the S&P 500 (SPY) in 16 of 29 full calendar years. In 2025, it returned +36.6%, against +17.7% for the index.

How did SCHW do in stock market crashes?

SCHW fell less than the S&P 500 (SPY) in none of the ten major crashes it has traded through, and further in ten. The clearest case was the dot-com bust, when SCHW fell 83.1% and the S&P 500 fell 47.5%.

What diversifies SCHW?

These had a low correlation with SCHW over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.30), DXJ (correlation 0.11) and EMLP (correlation 0.44); among large stocks, CAH (correlation 0.21), CLS (correlation 0.31) and FIX (correlation 0.27). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to SCHW

Other stocks and ETFs