BBBL vs. SCHQ

Last updated Jun 5, 2026

BBBL (Bondbloxx BBB Rated 10+ Year Corporate Bond ETF) and SCHQ (Schwab Long-Term U.S. Treasury ETF) are both exchange-traded funds - BBBL is a Long-Term Bond fund tracking the Bloomberg U.S. Corporate BBB 10+ Year Index - Benchmark TR Gross, while SCHQ is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past year, BBBL returned 6.99% vs 3.87% for SCHQ. Their correlation of 0.91 suggests significant overlap in exposure. BBBL charges 0.19%/yr vs 0.03%/yr for SCHQ.

Performance

BBBL vs. SCHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bondbloxx BBB Rated 10+ Year Corporate Bond ETF (BBBL) and Schwab Long-Term U.S. Treasury ETF (SCHQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBBL achieves a 1.50% return, which is significantly higher than SCHQ's -0.17% return.

BBBL

• 1D: 0.27%
• 1M: 1.28%
• YTD: 1.50%
• 6M: 0.79%
• 1Y: 6.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SCHQ

• 1D: 0.26%
• 1M: 0.45%
• YTD: -0.17%
• 6M: -0.99%
• 1Y: 3.87%
• 3Y*: -0.60%
• 5Y*: -5.24%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BBBL vs. SCHQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BBBL Bondbloxx BBB Rated 10+ Year Corporate Bond ETF	1.50%	7.02%	0.89%
SCHQ Schwab Long-Term U.S. Treasury ETF	-0.17%	5.50%	-2.11%

Correlation

The correlation between BBBL and SCHQ is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 26, 2024	0.91

The correlation between BBBL and SCHQ has been stable across timeframes, ranging from 0.91 to 0.91 - a consistent structural relationship.

Return for Risk

BBBL vs. SCHQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBBL

BBBL Risk / Return Rank: 25
BBBL Sharpe Ratio Rank: 26
BBBL Sortino Ratio Rank: 25
BBBL Omega Ratio Rank: 24
BBBL Calmar Ratio Rank: 27
BBBL Martin Ratio Rank: 24

SCHQ

SCHQ Risk / Return Rank: 16
SCHQ Sharpe Ratio Rank: 16
SCHQ Sortino Ratio Rank: 15
SCHQ Omega Ratio Rank: 15
SCHQ Calmar Ratio Rank: 16
SCHQ Martin Ratio Rank: 16

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBBL vs. SCHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bondbloxx BBB Rated 10+ Year Corporate Bond ETF (BBBL) and Schwab Long-Term U.S. Treasury ETF (SCHQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BBBL	SCHQ	Difference
Sharpe ratio: Return per unit of total volatility	0.90	0.44	+0.46
Sortino ratio: Return per unit of downside risk	1.32	0.69	+0.63
Omega ratio: Gain probability vs. loss probability	1.16	1.08	+0.08
Calmar ratio: Return relative to maximum drawdown	1.29	0.55	+0.73
Martin ratio: Return relative to average drawdown	3.23	1.43	+1.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBBL vs. SCHQ - Sharpe Ratio Comparison

The current BBBL Sharpe Ratio is 0.90, which is higher than the SCHQ Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of BBBL and SCHQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BBBL	SCHQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	0.44	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	-0.25	+0.66

Drawdowns

BBBL vs. SCHQ - Drawdown Comparison

The maximum BBBL drawdown since its inception was -9.43%, smaller than the maximum SCHQ drawdown of -46.13%. Use the drawdown chart below to compare losses from any high point for BBBL and SCHQ.

Drawdown Indicators

	BBBL	SCHQ	Difference
Max Drawdown Largest peak-to-trough decline	-9.43%	-46.13%	+36.70%
Max Drawdown (1Y) Largest decline over 1 year	-5.45%	-7.01%	+1.56%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.65%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-40.93%	—
Current Drawdown Current decline from peak	-1.62%	-36.65%	+35.03%
Average Drawdown Average peak-to-trough decline	-3.30%	-26.37%	+23.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	2.71%	-0.54%

Volatility

BBBL vs. SCHQ - Volatility Comparison

The current volatility for Bondbloxx BBB Rated 10+ Year Corporate Bond ETF (BBBL) is 2.39%, while Schwab Long-Term U.S. Treasury ETF (SCHQ) has a volatility of 2.55%. This indicates that BBBL experiences smaller price fluctuations and is considered to be less risky than SCHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBBL	SCHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.39%	2.55%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	5.75%	5.95%	-0.20%
Volatility (1Y) Calculated over the trailing 1-year period	7.86%	8.93%	-1.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.80%	14.53%	-4.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.80%	15.33%	-5.53%

BBBL vs. SCHQ - Expense Ratio Comparison

BBBL has a 0.19% expense ratio, which is higher than SCHQ's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BBBL vs. SCHQ - Dividend Comparison

BBBL's dividend yield for the trailing twelve months is around 5.72%, more than SCHQ's 4.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BBBL Bondbloxx BBB Rated 10+ Year Corporate Bond ETF	5.72%	5.77%	5.19%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHQ Schwab Long-Term U.S. Treasury ETF	4.78%	4.54%	4.58%	3.79%	2.88%	1.69%	1.51%	0.44%

Frequently Asked Questions

Can I hold both BBBL and SCHQ in my portfolio?

With a correlation of 0.91, BBBL and SCHQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BBBL or SCHQ?

SCHQ has higher volatility (2.55%) compared to BBBL (2.39%). In terms of maximum drawdown, BBBL dropped -9.43% vs SCHQ's -46.13%.

Which ETF is better, BBBL or SCHQ?

On 1-year performance, BBBL leads with 6.99% vs 3.87% for SCHQ. On fees, SCHQ is cheaper at 0.03% per year. On volatility, BBBL has been the lower-risk option at 2.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBBL or SCHQ?

Over the 1-year period, BBBL has performed better with a 6.99% return vs 3.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBBL or SCHQ?

SCHQ is cheaper with a 0.03% expense ratio, compared with 0.19% for BBBL.

Which ETF pays a higher dividend yield, BBBL or SCHQ?

BBBL has the higher dividend yield at 5.72%, compared with 4.78% for SCHQ.

What is the main difference between BBBL and SCHQ?

BBBL is categorized as Long-Term Bond, while SCHQ is Government Bonds. BBBL tracks Bloomberg U.S. Corporate BBB 10+ Year Index - Benchmark TR Gross, while SCHQ tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: BondBloxx and Charles Schwab. Their fees differ too: 0.19% for BBBL and 0.03% for SCHQ.

Which has better risk-adjusted returns?

BBBL currently has the higher Sharpe Ratio (0.90 vs 0.44), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.