SCHM alternatives and similar ETFs

SCHM alternatives at a glance#

Each fund below can stand in for SCHM, closest first. “Same kind” funds hold the same kind of stocks through a different index. “Related” funds make a different bet that often moves the same way.

Fees come from each fund company, checked on the dates shown on each fund’s page.

How SCHM and its alternatives did over the same dates#

Each row measures the alternative and SCHM on the days both traded, so neither gets a head start. Correlation shows how closely their daily moves matched over about the last five years. A value of 1 means they always moved together.

Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

Each SCHM alternative, compared#

IJH: iShares Core S&P Mid-Cap ETF#

IJH also holds medium-sized US companies. It tracks the S&P MidCap 400 Index, while SCHM tracks the Dow Jones U.S. Mid-Cap Total Stock Market Index.

It charges 0.05% a year, about $5 on $10,000, against $3 for SCHM. It held 408 stocks, against 497 for SCHM.

From January 2011 to October 2026, IJH returned about 10.7% a year and SCHM returned about 10.9% a year. Over about the last five years they moved almost exactly together (correlation 0.99).

Read the IJH fund page for its returns by year and worst drop.

MDY: State Street SPDR S&P MidCap 400 ETF Trust#

MDY also holds medium-sized US companies. It tracks the S&P MidCap 400 Index, while SCHM tracks the Dow Jones U.S. Mid-Cap Total Stock Market Index.

It charges 0.23% a year, about $23 on $10,000, against $3 for SCHM. It held 400 stocks, against 497 for SCHM.

From January 2011 to October 2026, MDY returned about 10.4% a year and SCHM returned about 10.9% a year. Over about the last five years they moved almost exactly together (correlation 0.99).

Read the MDY fund page for its returns by year and worst drop.

IWR: iShares Russell Mid-Cap ETF#

IWR also holds medium-sized US companies. It tracks the Russell MidCap Index, while SCHM tracks the Dow Jones U.S. Mid-Cap Total Stock Market Index.

It charges 0.18% a year, about $18 on $10,000, against $3 for SCHM. It held 822 stocks, against 497 for SCHM.

From January 2011 to October 2026, IWR returned about 11.2% a year and SCHM returned about 10.9% a year. Over about the last five years they moved almost exactly together (correlation 0.98).

Read the IWR fund page for its returns by year and worst drop.

VO: Vanguard Morningstar Mid-Cap ETF#

VO also holds medium-sized US companies. It tracks the Morningstar US Mid Cap Index, while SCHM tracks the Dow Jones U.S. Mid-Cap Total Stock Market Index.

It charges 0.03% a year, about $3 on $10,000, against $3 for SCHM. It held 271 stocks, against 497 for SCHM.

From January 2011 to October 2026, VO returned about 11.2% a year and SCHM returned about 10.9% a year. Over about the last five years they moved almost exactly together (correlation 0.97).

Read the VO fund page for its returns by year and worst drop.

VB: Vanguard Morningstar Small-Cap ETF#

VB is a looser match. It holds small US companies, while SCHM holds medium-sized US companies.

It charges 0.03% a year, about $3 on $10,000, against $3 for SCHM. It held 1,301 stocks, against 497 for SCHM.

From January 2011 to October 2026, VB returned about 10.5% a year and SCHM returned about 10.9% a year. Over about the last five years they moved almost exactly together (correlation 0.99).

Read the VB fund page for its returns by year and worst drop.

SCHA: Schwab U.S. Small-Cap ETF#

SCHA is a looser match. It holds small US companies, while SCHM holds medium-sized US companies.

It charges 0.03% a year, about $3 on $10,000, against $3 for SCHM. It held 1,721 stocks, against 497 for SCHM.

From January 2011 to October 2026, SCHA returned about 10.1% a year and SCHM returned about 10.9% a year. Over about the last five years they moved almost exactly together (correlation 0.98).

Read the SCHA fund page for its returns by year and worst drop.

IWM: iShares Russell 2000 ETF#

IWM is a looser match. It holds small US companies, while SCHM holds medium-sized US companies.

It charges 0.19% a year, about $19 on $10,000, against $3 for SCHM. It held 1,983 stocks, against 497 for SCHM.

From January 2011 to October 2026, IWM returned about 9.5% a year and SCHM returned about 10.9% a year. Over about the last five years they moved almost exactly together (correlation 0.96).

Read the IWM fund page for its returns by year and worst drop.

IJR: iShares Core S&P Small-Cap ETF#

IJR is a looser match. It holds small US companies, while SCHM holds medium-sized US companies.

It charges 0.06% a year, about $6 on $10,000, against $3 for SCHM. It held 643 stocks, against 497 for SCHM.

From January 2011 to October 2026, IJR returned about 10.6% a year and SCHM returned about 10.9% a year. Over about the last five years they moved almost exactly together (correlation 0.95).

Read the IJR fund page for its returns by year and worst drop.

SCHM versions from other fund companies#

Some people keep all their funds with one company. Here is the closest fund to SCHM from each other company on this page:

• iShares (BlackRock): IJH, iShares Core S&P Mid-Cap ETF (same kind of fund, 0.05% a year)
• SPDR (State Street): MDY, State Street SPDR S&P MidCap 400 ETF Trust (same kind of fund, 0.23% a year)
• Vanguard: VO, Vanguard Morningstar Mid-Cap ETF (same kind of fund, 0.03% a year)

Most brokers let you buy any ETF, whoever runs it. Mutual fund versions, such as a fund company’s index mutual fund, are not listed here.

How to choose between SCHM and its alternatives#

• What it tracks. A fund on the same index holds the same stocks. A different index can mean different weights, more or fewer holdings, or a different mix.
• The fee. The difference is often small. On $10,000, SCHM costs about $3 a year.
• History. An older fund has been through more bad markets, so you can see how far it fell.
• What you already own. Two funds that move together add little variety. A fund with a low correlation behaves more on its own.

Swapping SCHM to harvest a tax loss#

Some investors sell a fund at a loss to lower their taxes, then buy a similar fund so they stay invested. This is called tax-loss harvesting.

The IRS wash sale rule blocks the loss if you buy a “substantially identical” security within 30 days before or after the sale. The IRS has not said exactly when two funds count. Funds on the same index are more likely to. Funds on a different index, such as IJH, MDY or IWR, are less likely to.

Ask a tax professional before you rely on this. Read the IRS rules in Publication 550.

Test SCHM and its alternatives in a backtest#

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the builder, add SCHM and IJH, and see how each would have done on the same dates, or how a mix of both would have done.

The details#

Alternatives are picked from facts, not from returns. First come funds that track the same index as SCHM. Then come funds that hold the same kind of stocks through another index. Last come funds from a close category that make a different bet. Leveraged funds are only listed as alternatives to other leveraged funds.

Within each group, the funds whose daily returns moved most like SCHM over about the last five years come first. Returns and worst drops use Tactfolio’s stored daily prices, adjusted for splits, with dividends reinvested. Each alternative is measured with SCHM only on days both traded. Read what a backtest simulates for more on these measures.