SCHD vs WEX: Correlation
Measured on weekly returns over the past three years, Schwab US Dividend Equity ETF (SCHD) and WEX Inc. (WEX) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCHD and WEX?
Across a 3-year window, the weekly returns of SCHD and WEX correlate at 0.54, moderate. The link has loosened recently: the 1-year correlation (0.29) runs below the 3-year figure (0.54). Stretching to 5 years gives 0.57, with an annualized covariance of 248.1 %².
Among the 108 assets we track against SCHD, WEX ranks #49 by 3-year correlation. On 12-month performance SCHD holds a 14.9-point edge, +29.6% against +14.7%. Note the risk asymmetry: WEX runs 2.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 WEX: side by side
| SCHD (Schwab US Dividend Equity ETF) | WEX (WEX Inc.) | |
|---|---|---|
| 1-year return | +29.6% | +14.7% |
| 5-year return | +60.9% | +8.4% |
| Volatility (ann.) | 12.9% | 35.5% |
| Beta vs S&P 500 | 0.52 | 0.97 |
| Max drawdown (3Y) | -16.1% | -53.2% |
| Market cap | – | $6.8B |
| P/E (trailing) | – | 19.8 |
| Dividend yield | 3.13% | 0.00% |
| Expense ratio | 0.06% | – |
| Assets under management | $104.2B | – |
| Sector / category | ETF · Dividend | US Listed |
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 | SCHD | WEX |
|---|---|---|
| 2022 | -3.3% | +16.6% |
| 2023 | +4.5% | +18.9% |
| 2024 | +11.7% | -9.9% |
| 2025 | +4.3% | -15.0% |
| 2026 | +29.1% | +33.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCHD and WEX good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SCHD and WEX?
As of 2026-08-27, the correlation of weekly returns between SCHD and WEX is 0.54 over 3 years, 0.29 over 1 year and 0.57 over 5 years.
Is WEX a good diversifier for SCHD?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/schd-vs-wex.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/schd-vs-wex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SCHD correlations · WEX correlations
