RPRX vs SCHD: Correlation
Royalty Pharma plc - Class A (RPRX) and Schwab US Dividend Equity ETF (SCHD) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RPRX and SCHD?
Across a 3-year window, the weekly returns of RPRX and SCHD correlate at 0.38, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.51 versus 0.38 over 3 years. Stretching to 5 years gives 0.42, with an annualized covariance of 104.5 %².
In RPRX's tracked universe of 10 assets, SCHD sits right near the top at #3. The last year tells two different stories: RPRX led by 45.4 percentage points, +75.0% for RPRX against +29.6% for SCHD. One caveat on sizing: RPRX is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
RPRX vs SCHD: side by side
| RPRX (Royalty Pharma plc - Class A) | SCHD (Schwab US Dividend Equity ETF) | |
|---|---|---|
| 1-year return | +75.0% | +29.6% |
| 5-year return | +78.4% | +60.9% |
| Volatility (ann.) | 21.2% | 12.9% |
| Beta vs S&P 500 | 0.24 | 0.52 |
| Max drawdown (3Y) | -20.7% | -16.1% |
| Market cap | $35.8B | – |
| P/E (trailing) | 33.3 | – |
| Dividend yield | 1.47% | 3.13% |
| Expense ratio | – | 0.06% |
| Assets under management | – | $104.2B |
| Sector / category | US Listed | ETF · Dividend |
SCHD, Schwab ETFs's Large Value fund, carries $104.2B under management, 101 holdings, a 0.06% expense ratio, a 3.13% trailing dividend yield.
Year-by-year returns
| Year | RPRX | SCHD |
|---|---|---|
| 2022 | +1.0% | -3.3% |
| 2023 | -27.1% | +4.5% |
| 2024 | -6.4% | +11.7% |
| 2025 | +55.3% | +4.3% |
| 2026 | +62.5% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RPRX and SCHD good diversifiers for each other?
Reasonably. At 0.38, RPRX and SCHD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between RPRX and SCHD?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.51 over the last year and 0.42 over 5 years.
Is SCHD a good diversifier for RPRX?
Reasonably. At 0.38, RPRX and SCHD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/rprx-vs-schd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rprx-vs-schd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RPRX correlations · SCHD correlations
