SCHD vs SOXX: Correlation & Overlap
Measured on weekly returns over the past three years, Schwab US Dividend Equity ETF (SCHD) and iShares Semiconductor ETF (SOXX) carry a correlation of 0.37, a moderate link. The two funds also share 5.8% of their portfolios by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCHD and SOXX?
On 3 years of weekly data the SCHD/SOXX correlation comes out at 0.37, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.04 versus 0.37 over 3 years. The 5-year figure is 0.50, and annualized covariance runs at 166.9 %².
Among the 108 assets we track against SCHD, SOXX ranks #91 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SOXX ahead by 80.4 points (+29.6% versus +110.0%). This link changes with the market regime, having swung between 0.06 and 0.64 on a rolling one-year basis. One caveat on sizing: SOXX is 2.7 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.
SCHD vs SOXX: side by side
| SCHD (Schwab US Dividend Equity ETF) | SOXX (iShares Semiconductor ETF) | |
|---|---|---|
| 1-year return | +29.6% | +110.0% |
| 5-year return | +60.9% | +247.5% |
| Volatility (ann.) | 12.9% | 35.2% |
| Beta vs S&P 500 | 0.52 | 1.93 |
| Max drawdown (3Y) | -16.1% | -41.4% |
| Dividend yield | 3.13% | 0.29% |
| Expense ratio | 0.06% | 0.33% |
| Assets under management | $104.2B | $44.7B |
| Sector / category | ETF · Dividend | ETF · Thematic |
On the fund side, SCHD sits in the Large Value category at Schwab ETFs, with $104.2B under management, 101 holdings, a 0.06% expense ratio, a 3.13% trailing dividend yield. On the fund side, SOXX sits in the Technology category at iShares, with $44.7B under management, 30 holdings, a 0.33% expense ratio, a 0.29% trailing dividend yield.
Portfolio overlap between SCHD and SOXX
The two portfolios are largely distinct: 5.8% of the funds' weight sits in the same underlying holdings (3 common positions). Correlation tells you they move together; overlap tells you why.
Largest positions held only by SCHD: MRK (4.92%), ABT (4.83%), AMGN (4.80%), KO (4.22%), VZ (3.97%). Only by SOXX: NVDA (8.87%), MU (8.64%), AMD (8.33%), AVGO (7.11%), MRVL (5.34%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 3 common positions shown.
Year-by-year returns
| Year | SCHD | SOXX |
|---|---|---|
| 2022 | -3.3% | -35.1% |
| 2023 | +4.5% | +67.1% |
| 2024 | +11.7% | +12.9% |
| 2025 | +4.3% | +40.7% |
| 2026 | +29.1% | +74.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCHD and SOXX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SCHD and SOXX?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.04 over the last year and 0.50 over 5 years.
Is SOXX a good diversifier for SCHD?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
How much do SCHD and SOXX overlap?
Per the issuers' own portfolio disclosures (2026-08-26), the overlap is 5.8% by weight over 3 common positions.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/schd-vs-soxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/schd-vs-soxx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SCHD correlations · SOXX correlations
