SCHA vs SPY
Schwab US Small-Cap ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, SCHA or SPY?
Small Cap Blend against Large Cap Blend.
SCHA has a lower expense ratio. SCHA led over 1Y, SPY over 3Y, 5Y and the full window. SCHA is less concentrated, with 9.1% of the fund in its ten largest positions against 38.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SCHA | SPY |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.09% |
| AUM | $22.7B | $814.4B |
| Dividend Yield | 1.07% | 1.01% |
| Holdings | 1,710 | 505 |
| YTD Return | +20.47%Best | +13.34% |
| 1Y Return | +27.23%Best | +19.97% |
| 3Y Return (annualized) | +18.09% | +21.20%Best |
| 5Y Return (annualized) | +7.38% | +12.81%Best |
| Volatility (annualized) | 19.2% | 14.4%Best |
| Max Drawdown | -43.0% | -34.1%Best |
| $10,000 over 5 years | $14,276 | $18,270Best |
| Top 10 Weight | 9.1%Best | 38.0% |
| Fund Family | Charles Schwab Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Blend |
| Inception | Nov 3, 2009 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 3, 2009 to Sep 4, 2026 (16.8 years).
SCHA vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 16.8 years both funds cover.
SCHA vs SPY Performance
Schwab US Small-Cap ETF (SCHA) is an ETF from Charles Schwab Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year SCHA returned +27.23% while SPY returned +19.97%. Year to date, SCHA is up 20.47% versus a gain of 13.34% for SPY.
Over three years, SCHA compounded at +18.09% per year against +21.20% for SPY; over five years the annualized figures are +7.38% and +12.81% respectively. Across the full 17-year window we track, SPY has the edge at +13.08% annualized vs +11.29%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHA has been the more volatile fund, with annualized monthly volatility of 19.2% compared with 14.4% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -43.0% for SCHA and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SCHA charges 0.03% per year while SPY charges 0.09%. On a $10,000 position that is $3 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, SCHA currently yields 1.07% against 1.01% for SPY.
Holdings Overlap
5.7% of SCHA's money is in holdings SPY also owns. 0.5% of SPY's money is in holdings SCHA also owns.
SCHA and SPY share little of their money.
5 positions in common, counted across the 1,705 positions we hold weights for in SCHA and 503 in SPY, against full books of 1,710 and 505.
What only one of them owns
Our book lists 488 positions for SPY that do not appear in our book for SCHA (98.9% of the fund), and 1,506 for SCHA that do not appear in SPY (91.9%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of SCHA and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SCHA or SPY?
SCHA has an expense ratio of 0.03% while SPY charges 0.09%. SCHA is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, SCHA or SPY?
Over the past year SCHA returned +27.23% vs +19.97% for SPY, so SCHA leads on 1-year performance. Over the longest common window we track (17 years), SCHA annualized +11.29% vs +13.08% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SCHA or SPY?
SCHA has been the more volatile fund at 19.2% annualized versus 14.4% for SPY. Worst drawdown: SCHA -43.0% vs SPY -34.1%.
Should I hold both SCHA and SPY?
SCHA and SPY have a monthly-return correlation of 0.88, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SCHA and SPY?
5.7% of SCHA's money is in holdings SPY also owns. 0.5% of SPY's is in holdings SCHA also owns. They hold 5 positions in common, counted across the 1,705 positions we hold weights for in SCHA and 503 in SPY.
Which pays a higher dividend, SCHA or SPY?
SCHA yields 1.07% while SPY yields 1.01%, so SCHA currently pays the higher dividend yield.
Is SPY better than SCHA?
SCHA has a lower expense ratio. SCHA led over 1Y, SPY over 3Y, 5Y and the full window. SCHA is less concentrated, with 9.1% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.