# How Schwab U.S. Large-Cap ETF (SCHX) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/schx
> 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 SCHX alone. It places SCHX (Schwab U.S. Large-Cap 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 SCHX stands in the market, and of the alternatives worth a closer look.

Period covered: SCHX'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

- **Right now:** SCHX sits 1.5% below its record high, and the total US stock market is similarly close to its own.
- **Fund or market?:** SCHX rose 3.6% over the past 3 months, in line with the total US stock market, which rose 3.2%: a market move, not its own.
- **Long term:** Over the past decade, SCHX returned 15.3% a year against 14.9% a year for the total US stock market (317% in total against 302%). SCHX's 10-year return of 317% puts it ahead of 91% of the ETFs with at least $100 million in assets with that much history. The total US stock market returned 302%.
- **In a crash:** In the Covid crash, SCHX fell 34.3%, against 35.0% for the total US stock market. That was more than USMV (iShares MSCI USA Min Vol Factor ETF, 33.0%) but less than RSP (Invesco S&P 500 Equal Weight ETF, 39.0%).
- **Diversification:** SCHX is more of the same, not a cushion: a correlation of 1.00 with the total US stock market over 5 years, more closely than 99% of ETFs with at least $100 million in assets. When the total US stock market had a down month, SCHX usually fell with it (24 of 25 months).
- **Better options**
  - **Popular alternatives:** FNDX (Schwab Fundamental U.S. Large Company ETF) earned more than SCHX with less volatility over the past 5 years: 13.5% a year at 14.9% volatility, against 12.0% a year at 17.2%.
  - **Nearby categories and themes:** JQUA (JPMorgan U.S. Quality Factor ETF, US quality equity) earned more than SCHX with less volatility over the past 5 years: 13.6% a year at 15.7% volatility, against 12.0% a year at 17.2%.
  - **Whole market:** Few investments have done better on both counts: only 25 of the 3,633 stocks and funds worth at least $500 million earned more than SCHX with less volatility over the past 5 years, among them EFV (iShares MSCI EAFE Value ETF), FNDX (Schwab Fundamental U.S. Large Company ETF) and FNDF (Schwab Fundamental International Large Company Index ETF).

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

This chart tracks a hypothetical $10,000 investment in SCHX over the past 16 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of SCHX over the same span and SCHX's popular alternatives, among those that traded for the entire period.

- $10,000 invested in SCHX at the end of September 2010 would have grown to $87,976 by September 2026, about the same as the $88,503 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of SCHX, and QQQ finished highest, at $172,922.

## SCHX 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.

- SCHX's deepest decline since it began trading in 2009 was 34.3%, from February to March 2020. It took five months from the low to climb back to its old high.
- Over 16 full calendar years, SCHX's best was 2013, when it returned 32.6%, and its worst was 2022, when it lost 19.4%. It lost money in two of those years.
- SCHX is 1.5% below its all-time high.

- Type: ETF, Broad Market (Asset Management)
- Trading since: November 3, 2009
- Assets: $74B
- Expense ratio: 0.03%
- Volatility (5 years): 17.2%; Sharpe ratio: 0.75
- Worst decline ever: −34.3%, from February 19, 2020 to March 23, 2020; back at its high by August 6, 2020

| Period | SCHX total return |
| --- | --- |
| 1 month | −0.8% |
| 3 months | +3.6% |
| 6 months | +8.7% |
| year to date | +13.0% |
| 1 year | +15.1% |
| 3 years | +89.1% |
| 5 years | +76.6% |
| 10 years | +317% |

## SCHX against the whole market

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

### How does SCHX rank among all ETFs?

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

- SCHX's 10-year return ranks in the top 9% of the 958 ETFs with at least $100 million in assets with 10 years of history.

| Measure | SCHX | Rank |
| --- | --- | --- |
| 1-year return | +15.1% | 818 of 2,485 (top 33%) |
| 3-year return | +89.1% | 367 of 1,949 (top 19%) |
| 5-year return | +76.6% | 296 of 1,560 (top 19%) |
| 10-year return | +317% | 82 of 958 (top 9%) |
| Volatility, 5 years | 17.2% | 864 of 1,560 (top 56%) |
| Sharpe ratio, 5 years | 0.75 | 426 of 1,560 (top 28%) |
| Worst decline, past 10 years | −34.3% | 313 of 951 (top 33%) |

### What has beaten SCHX 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).

- 25 ETFs worth at least $500 million sit in the green region: each earned more than SCHX over the past 5 years with smaller price swings. That is fewer than 1% of the 3,633 screened. Few investments beat it on both counts.
- Among those with at least half SCHX's swings, LVHI has the best return for its risk: 17.0% a year at 11.1% volatility, 36% less than SCHX's 17.2%, and a Sharpe ratio (return above cash per unit of volatility) of 1.48 against 0.75 for SCHX.
- Among SCHX's popular alternatives, FNDX is in the region. FNDX earned 13.5% a year against 12.0% a year for SCHX, at 14.9% volatility, 13% less than SCHX's 17.2%.

### Is there a better investment than SCHX?

The table below lists investments that beat SCHX 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 SCHX's popular alternatives, FNDX earned more than SCHX with less volatility over the past 5 years: 13.5% a year at 14.9% volatility, against 12.0% a year at 17.2%.
- Looking beyond its popular alternatives, JQUA (US quality equity) earned more than SCHX with less volatility over the past 5 years: 13.6% a year at 15.7% volatility, against 12.0% a year at 17.2%.
- Few investments have done better on both counts: only 25 of the 3,633 stocks and funds worth at least $500 million earned more than SCHX with less volatility over the past 5 years, among them EFV, FNDX and FNDF.

The 15 strongest of 25 investments that beat SCHX 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 SCHX | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| SCHX: Schwab U.S. Large-Cap ETF (this page) |  | +12.0% | 17.2% | 0.75 | −34.3% | +317% |  |  |
| PVAL: Putnam Focused Large Cap Value ETF | US Large-Cap Value | +16.1% | 15.1% | 1.07 | −41.3% | — | 0.88 | Higher return, lower volatility; Higher return in most periods |
| DIVB: iShares Core Dividend ETF | Dividend & Income | +13.9% | 15.4% | 0.93 | −36.9% | — | 0.86 | Higher return, lower volatility; Higher return in most periods |
| FYLD: Cambria Foreign Shareholder Yield ETF | Dividend & Income | +13.1% | 16.0% | 0.85 | −44.6% | +203% | 0.60 | Higher return, lower volatility; Higher return in most periods |
| DIVI: Franklin International Core Dividend Tilt Index ETF | International | +13.4% | 15.5% | 0.89 | −27.7% | +184% | 0.73 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | International Equity | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.55 | Higher return, lower volatility |
| VSLU: Applied Finance Valuation Large Cap ETF | Broad Market | +13.7% | 16.2% | 0.88 | −23.8% | — | 0.98 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| EFV: iShares MSCI EAFE Value ETF | International Equity | +13.6% | 15.9% | 0.88 | −43.2% | +157% | 0.64 | Higher return, lower volatility |
| FNDF: Schwab Fundamental International Large Company Index ETF | International Equity | +13.6% | 16.3% | 0.87 | −40.2% | +194% | 0.71 | Higher return, lower volatility |
| FDVV: Fidelity High Dividend ETF | US Dividend Equity | +13.2% | 14.6% | 0.92 | −40.2% | +253% | 0.90 | Higher return, lower volatility |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | International Equity | +13.1% | 13.8% | 0.96 | −32.5% | +206% | 0.81 | Higher return, lower volatility |
| FDL: First Trust Morningstar Dividend Leaders Index Fund | US Dividend Equity | +13.9% | 14.4% | 0.98 | −41.4% | +199% | 0.57 | Higher return, lower volatility |
| EMLP: First Trust North American Energy Infrastructure Fund | Energy Infrastructure | +14.9% | 14.5% | 1.04 | −43.6% | +150% | 0.62 | Higher return, lower volatility |
| GCOW: Pacer Global Cash Cows Dividend ETF | International | +14.1% | 13.6% | 1.04 | −37.6% | +168% | 0.52 | Higher return, lower volatility |
| RWL: Invesco S&P 500 Revenue ETF | US Large-Cap Equity | +13.7% | 14.4% | 0.97 | −36.1% | +287% | 0.91 | Higher return, lower volatility |
| JQUA: JPMorgan U.S. Quality Factor ETF | US Quality Equity | +13.6% | 15.7% | 0.89 | −32.9% | — | 0.97 | Higher return, lower volatility |

## SCHX against its popular alternatives

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

### How do SCHX'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.

- FNDX, PRF and SPTM were both more rewarding and calmer than SCHX over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, SCHX returned 12.0% a year, less than the S&P 500's 12.7%, with higher volatility (17.2% against 17.1%).

### Has SCHX consistently beaten its popular alternatives?

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

- None of the 25 popular alternatives outperformed SCHX in at least 3 of 5 short-term and 2 of 3 long-term timeframes. The closest was SCHG.
- OEF, SPYM and VOO earned more for the risk they took than SCHX (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 SCHX | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| SCHX: Schwab U.S. Large-Cap ETF (this page) | +15.1% | +89.1% | +76.6% | +317% |  |  | 0.75 |
| [SCHG](https://easycompare.io/research/schg): Schwab U.S. Large-Cap Growth ETF | +10.4% | +99.2% | +85.4% | +451% | 2/5 short-term, 3/3 long-term |  | 0.67 |
| OEF: iShares S&P 100 ETF | +14.8% | +98.4% | +94.8% | +367% | 2/5 short-term, 3/3 long-term |  | 0.84 |
| FNDX: Schwab Fundamental U.S. Large Company ETF | +25.4% | +88.2% | +88.6% | +291% | 5/5 short-term, 1/3 long-term |  | 0.93 |
| PRF: Invesco RAFI US 1000 ETF | +25.5% | +90.1% | +84.3% | +270% | 5/5 short-term, 1/3 long-term |  | 0.90 |
| [SPYM](https://easycompare.io/research/spym): State Street SPDR Portfolio S&P 500 ETF | +15.9% | +89.8% | +82.5% | +324% | 2/5 short-term, 1/3 long-term |  | 0.80 |
| [VOO](https://easycompare.io/research/voo): Vanguard S&P 500 ETF | +15.8% | +89.7% | +82.3% | +324% | 1/5 short-term, 1/3 long-term |  | 0.80 |
| [IVV](https://easycompare.io/research/ivv): iShares Core S&P 500 ETF | +15.8% | +89.7% | +82.3% | +324% | 1/5 short-term, 1/3 long-term |  | 0.80 |
| [SPY](https://easycompare.io/research/spy): State Street SPDR S&P 500 ETF | +15.8% | +89.3% | +81.7% | +321% | 1/5 short-term, 1/3 long-term |  | 0.79 |
| [QUAL](https://easycompare.io/research/qual): iShares MSCI USA Quality Factor ETF | +16.4% | +76.9% | +71.5% | +293% | 5/5 short-term, 0/3 long-term |  | 0.71 |
| EQWL: Invesco S&P 100 Equal Weight ETF | +15.7% | +81.0% | +73.3% | +291% | 3/5 short-term, 0/3 long-term |  | 0.81 |
| SCHV: Schwab U.S. Large-Cap Value ETF | +20.0% | +75.4% | +62.3% | +195% | 3/5 short-term, 0/3 long-term |  | 0.75 |
| USMV: iShares MSCI USA Min Vol Factor ETF | +9.7% | +49.7% | +44.4% | +176% | 2/5 short-term, 0/3 long-term |  | 0.66 |
| SCHA: Schwab U.S. Small-Cap ETF | +16.5% | +73.1% | +33.9% | +165% | 2/5 short-term, 0/3 long-term |  | 0.38 |
| [VV](https://easycompare.io/research/vv): Vanguard Morningstar Large-Cap ETF | +15.4% | +90.6% | +78.8% | +324% | 1/5 short-term, 0/3 long-term |  | 0.76 |
| SPTM: State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF | +15.7% | +87.2% | +78.6% | +310% | 1/5 short-term, 0/3 long-term |  | 0.77 |
| [DIA](https://easycompare.io/research/dia): State Street SPDR Dow Jones Industrial Average ETF Trust | +13.9% | +66.1% | +60.6% | +250% | 1/5 short-term, 0/3 long-term |  | 0.72 |
| SPGM: State Street SPDR Portfolio MSCI Global Stock Market ETF | +16.0% | +86.6% | +67.0% | +229% | 1/5 short-term, 0/3 long-term |  | 0.72 |
| [RSP](https://easycompare.io/research/rsp): Invesco S&P 500 Equal Weight ETF | +15.5% | +65.4% | +48.6% | +211% | 1/5 short-term, 0/3 long-term |  | 0.57 |
| EQAL: Invesco Russell 1000 Equal Weight ETF | +14.3% | +61.4% | +36.4% | +171% | 1/5 short-term, 0/3 long-term |  | 0.45 |
| [SCHF](https://easycompare.io/research/schf): Schwab International Equity ETF | +17.3% | +80.9% | +57.7% | +155% | 1/5 short-term, 0/3 long-term |  | 0.63 |
| VONE: Vanguard Russell 1000 ETF | +15.2% | +88.5% | +75.9% | +312% | 0/5 short-term, 0/3 long-term |  | 0.75 |
| [IWB](https://easycompare.io/research/iwb): iShares Russell 1000 ETF | +15.1% | +87.7% | +75.1% | +309% | 0/5 short-term, 0/3 long-term |  | 0.74 |
| [VTI](https://easycompare.io/research/vti): Vanguard Morningstar Total Stock Market ETF | +15.2% | +87.9% | +72.6% | +302% | 0/5 short-term, 0/3 long-term |  | 0.71 |
| [ITOT](https://easycompare.io/research/itot): iShares Core S&P Total U.S. Stock Market ETF | +15.2% | +88.0% | +72.7% | +301% | 0/5 short-term, 0/3 long-term |  | 0.72 |
| [SCHB](https://easycompare.io/research/schb): Schwab U.S. Broad Market ETF | +15.2% | +88.0% | +72.9% | +286% | 0/5 short-term, 0/3 long-term |  | 0.72 |

### How did SCHX do year by year?

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

- SCHX finished ahead of the S&P 500 in two of its 16 full calendar years.
- Ranked against its popular alternatives each year, SCHX finished in the top quarter in four of 16 years and in the bottom quarter in no. In 2025, it ranked 7 of 20.
- Among its popular alternatives, SCHG came out ahead of SCHX most often, in 11 of the 16 years both traded.

| Year | SCHX | SPY |
| --- | --- | --- |
| 2025 | +17.5% | +17.7% |
| 2024 | +24.9% | +24.9% |
| 2023 | +26.8% | +26.2% |
| 2022 | −19.4% | −18.2% |
| 2021 | +26.8% | +28.7% |
| 2020 | +21.0% | +18.3% |
| 2019 | +31.2% | +31.2% |
| 2018 | −4.5% | −4.6% |
| 2017 | +21.6% | +21.7% |
| 2016 | +12.1% | +12.0% |

## Risk and diversification

How SCHX 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 SCHX's worst declines?

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

- In all five of SCHX's worst declines, the S&P 500 held up better over the same dates.
- The longest climb back to a previous high took 14 months, after SCHX fell 25.4% from January to October 2022.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −34.3% | February 19, 2020 | March 23, 2020 | August 6, 2020 | −33.7% | Covid crash |
| −25.4% | January 3, 2022 | October 12, 2022 | December 13, 2023 | −24.5% | 2022 bear market |
| −19.4% | September 20, 2018 | December 24, 2018 | April 12, 2019 | −19.4% | late-2018 sell-off |
| −19.3% | April 29, 2011 | October 3, 2011 | February 3, 2012 | −18.6% | 2011 euro debt crisis |
| −19.0% | February 19, 2025 | April 8, 2025 | June 26, 2025 | −18.8% |  |

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

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

- Among its popular alternatives, USMV held up best, falling less than SCHX in five of the six crashes they both traded through.
- SCHX began trading after the 2008 financial crisis, but eight of its popular alternatives lived through it. The mildest fall among them was EQWL's 49.3%, against 55.2% for the S&P 500.
- SCHX fell further than the S&P 500 in four of the eight crashes it has traded through. The clearest case was the 2022 bear market, when SCHX fell 25.2% and the S&P 500 fell 24.5%.

| Crash | Dates | SCHX 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 | −1.2% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −18.5% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −13.4% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −6.4% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −19.4% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −34.3% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −25.2% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −3.7% | −3.4% |

### How closely does SCHX 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 SCHG, OEF and VV had a higher capture ratio (upside capture divided by downside capture) than SCHX's 0.99, out of 19 popular alternatives with the same record.
- SCHV took just 95% of the S&P 500's losses, against 101% for SCHX, while still keeping 84% of its gains.
- Over the past 10 years, SCHX captured 100% of the S&P 500's gains in rising months and 101% of its losses in falling months, with a beta of 1.01. It took about the same share of the market's gains as of its losses.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| SCHX: Schwab U.S. Large-Cap ETF (this page) | 100% | 101% | 1.01 |
| [SCHG](https://easycompare.io/research/schg): Schwab U.S. Large-Cap Growth ETF | 114% | 107% | 1.12 |
| OEF: iShares S&P 100 ETF | 104% | 100% | 1.00 |
| FNDX: Schwab Fundamental U.S. Large Company ETF | 95.0% | 98.0% | 0.97 |
| PRF: Invesco RAFI US 1000 ETF | 93.0% | 98.0% | 0.97 |
| [QUAL](https://easycompare.io/research/qual): iShares MSCI USA Quality Factor ETF | 98.0% | 102% | 1.00 |
| EQWL: Invesco S&P 100 Equal Weight ETF | 95.0% | 97.0% | 0.95 |
| SCHV: Schwab U.S. Large-Cap Value ETF | 84.0% | 95.0% | 0.91 |
| USMV: iShares MSCI USA Min Vol Factor ETF | 70.0% | 75.0% | 0.70 |
| SCHA: Schwab U.S. Small-Cap ETF | 97.0% | 124% | 1.18 |
| [VV](https://easycompare.io/research/vv): Vanguard Morningstar Large-Cap ETF | 101% | 101% | 1.01 |
| SPTM: State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF | 99.0% | 101% | 1.01 |
| [DIA](https://easycompare.io/research/dia): State Street SPDR Dow Jones Industrial Average ETF Trust | 92.0% | 99.0% | 0.93 |
| SPGM: State Street SPDR Portfolio MSCI Global Stock Market ETF | 90.0% | 97.0% | 0.93 |
| [RSP](https://easycompare.io/research/rsp): Invesco S&P 500 Equal Weight ETF | 92.0% | 107% | 1.01 |
| EQAL: Invesco Russell 1000 Equal Weight ETF | 90.0% | 113% | 1.04 |
| [SCHF](https://easycompare.io/research/schf): Schwab International Equity ETF | 79.0% | 93.0% | 0.84 |
| VONE: Vanguard Russell 1000 ETF | 100% | 102% | 1.02 |
| [VTI](https://easycompare.io/research/vti): Vanguard Morningstar Total Stock Market ETF | 100% | 103% | 1.02 |
| [SCHB](https://easycompare.io/research/schb): Schwab U.S. Broad Market ETF | 99.0% | 104% | 1.03 |

### What diversifies SCHX?

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 SCHX into DBMF would have cut the portfolio's volatility by 23% over the past 5 years for a small cut in its annual return (+13.1% for SCHX alone, +12.9% for the mix).
- Among large ETFs, GLD, XLE and AMLP have moved largely independently of SCHX over the past 5 years, with correlations of 0.46 or lower, and each still earned a positive 5-year return.
- Among large stocks, CAH, MCK and MPC have moved largely independently of SCHX over the past 5 years, with correlations of 0.30 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with SCHX | 5Y return | Volatility | Sharpe | Rose in SCHX's 2 down years |
| --- | --- | --- | --- | --- | --- |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.16 | +126% | 18.9% | 0.96 | 0 of 2 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.28 | +177% | 25.5% | 0.93 | 1 of 2 |
| AMLP: Alerian MLP ETF | 0.46 | +111% | 18.9% | 0.89 | 1 of 2 |
| DBMF: iMGP DBi Managed Futures Strategy ETF | -0.26 | +59.7% | 12.4% | 0.82 | 1 of 2 |
| DBA: Invesco DB Agriculture Fund | 0.17 | +66.4% | 13.8% | 0.81 | 1 of 2 |
| IHE: iShares U.S. Pharmaceuticals ETF | 0.48 | +81.2% | 16.8% | 0.80 | 0 of 2 |
| PPH: VanEck Pharmaceutical ETF | 0.49 | +72.8% | 15.8% | 0.78 | 1 of 2 |
| GDX: VanEck Gold Miners ETF | 0.28 | +181% | 38.2% | 0.73 | 0 of 2 |

## Common questions

### What was SCHX's worst drawdown?

SCHX's deepest decline since it began trading in 2009 was 34.3%, from February to March 2020. It took five months from the low to climb back to its old high. Because SCHX launched in November 2009, that record does not include the dot-com bust or the 2008 financial crisis.

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

Over 16 full calendar years, SCHX's best year was 2013, when it returned 32.6%. Its worst was 2022, with a return of -19.4%.

### Is there a better investment than SCHX?

Among SCHX's popular alternatives, FNDX earned more than SCHX with less volatility over the past 5 years: 13.5% a year at 14.9% volatility, against 12.0% a year at 17.2%. Looking beyond its popular alternatives, JQUA (US quality equity) earned more than SCHX with less volatility over the past 5 years: 13.6% a year at 15.7% volatility, against 12.0% a year at 17.2%.

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

No. SCHX's volatility over the past 5 years was 17.2%, 1.0 times the S&P 500's 17.5%. Volatility measures how widely returns swing around their average: in roughly two years out of three, SCHX's return lands within 17.2% 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 SCHX's Sharpe ratio?

SCHX's Sharpe ratio over the past 5 years was 0.75, against 0.71 for the S&P 500, so SCHX earned more 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 SCHX with the S&P 500?

Over the past 5 years, SCHX's monthly returns had a correlation of 1.00 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 SCHX instead: the lower it is, the more that option would diversify a SCHX holding.

### What are the best alternatives to SCHX?

None of the 25 popular alternatives we compared outperformed SCHX in at least 3 of 5 short-term and 2 of 3 long-term timeframes, which says more about SCHX's strength than about its alternatives.

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

SCHX finished ahead of the S&P 500 (SPY) in two of 16 full calendar years. In 2025, it returned +17.5%, against +17.7% for the index.

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

SCHX fell less than the S&P 500 (SPY) in none of the eight major crashes it has traded through, and further in four. The clearest case was the 2022 bear market, when SCHX fell 25.2% and the S&P 500 fell 24.5%.

### What diversifies SCHX?

These had a low correlation with SCHX over the past 5 years and still earned a positive 5-year return: among large ETFs, GLD (correlation 0.16), XLE (correlation 0.28) and AMLP (correlation 0.46); among large stocks, CAH (correlation 0.30), MCK (correlation 0.18) and MPC (correlation 0.26). A correlation near zero means the two have moved largely independently.

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## Explore further

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