Twelve studies find that overall gains in charter schools are larger than other public schools; four find charter schools’ gains higher in certain significant categories of schools; six find comparable gains; and, four find that charter schools’ overall gains lagged behind traditional schools.
Source: Charter School Achievement: What We Know, July 2005 Update
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Download: 
http://rand.org/pubs/working_papers/2008/RAND_WR550.pdf
This study examines public charter school achievement in Philadelphia as well as who attends the schools and what impact the existence of public charters has on the achievement of districts schools. Public charter school students' average gains are statistically indistinguishable from the gains they experience while at traditional public schools. The performance of Philadelphia's public charter schools -- as measured by student achievement gains -- does not appear to be related to how long the school has been operating. However, attending a public charter school in grades 9-12 shows a small positive effect on student achievement while attending a public charter school in elementary and middle grades shows a small negative effect. There was no evidence that the district schools located in neighborhoods with the greatest public charter competition are performing any better or any worse as a result of the competition. Public charter schools attract students whose prior achievement levels are slightly below the district-wide average, but higher than the average achievement levels of the traditional public schools they left.
Date: 2008
Source: RAND Corporation
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