BLV vs. SCHQ

Last updated Jun 4, 2026

BLV (Vanguard Long-Term Bond ETF) and SCHQ (Schwab Long-Term U.S. Treasury ETF) are both exchange-traded funds - BLV is a Long-Term Bond fund tracking the Bloomberg U.S. Long Government/Credit Float Adjusted Index, while SCHQ is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 5 years, BLV returned -3.33%/yr vs -5.29%/yr for SCHQ. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.03% expense ratio.

Performance

BLV vs. SCHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Long-Term Bond ETF (BLV) 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, BLV achieves a 0.28% return, which is significantly higher than SCHQ's -0.43% return.

BLV

• 1D: -0.31%
• 1M: 1.09%
• YTD: 0.28%
• 6M: -0.86%
• 1Y: 6.59%
• 3Y*: 2.02%
• 5Y*: -3.33%
• 10Y*: 0.99%

SCHQ

• 1D: -0.45%
• 1M: 0.65%
• YTD: -0.43%
• 6M: -1.74%
• 1Y: 5.22%
• 3Y*: -0.72%
• 5Y*: -5.29%
• 10Y*: —

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

BLV vs. SCHQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BLV Vanguard Long-Term Bond ETF	0.28%	6.44%	-3.65%	7.35%	-26.95%	-2.89%	16.13%	-0.59%
SCHQ Schwab Long-Term U.S. Treasury ETF	-0.43%	5.50%	-6.44%	3.43%	-29.44%	-4.86%	17.73%	-4.02%

Correlation

The correlation between BLV and SCHQ is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Oct 11, 2019	0.94

The correlation between BLV and SCHQ has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.

BLV vs. SCHQ - Sectors Allocation Comparison

Sectors	BLV	SCHQ
Financial Services	0.0%	1.0%
Basic Materials	-	-
Communication Services	-	3.3%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	4.9%
Utilities	-	-

Return for Risk

BLV vs. SCHQ — Risk / Return Rank

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

BLV

BLV Risk / Return Rank: 23
BLV Sharpe Ratio Rank: 23
BLV Sortino Ratio Rank: 22
BLV Omega Ratio Rank: 21
BLV Calmar Ratio Rank: 24
BLV Martin Ratio Rank: 23

SCHQ

SCHQ Risk / Return Rank: 17
SCHQ Sharpe Ratio Rank: 18
SCHQ Sortino Ratio Rank: 17
SCHQ Omega Ratio Rank: 16
SCHQ Calmar Ratio Rank: 18
SCHQ Martin Ratio Rank: 18

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.

BLV vs. SCHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond ETF (BLV) 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.

	BLV	SCHQ	Difference
Sharpe ratio: Return per unit of total volatility	0.81	0.59	+0.23
Sortino ratio: Return per unit of downside risk	1.21	0.91	+0.30
Omega ratio: Gain probability vs. loss probability	1.14	1.10	+0.04
Calmar ratio: Return relative to maximum drawdown	1.15	0.75	+0.41
Martin ratio: Return relative to average drawdown	2.92	1.94	+0.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BLV vs. SCHQ - Sharpe Ratio Comparison

The current BLV Sharpe Ratio is 0.81, which is higher than the SCHQ Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of BLV 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

	BLV	SCHQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.81	0.59	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.26	-0.37	+0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	-0.25	+0.62

Drawdowns

BLV vs. SCHQ - Drawdown Comparison

The maximum BLV drawdown since its inception was -38.29%, smaller than the maximum SCHQ drawdown of -46.13%. Use the drawdown chart below to compare losses from any high point for BLV and SCHQ.

Drawdown Indicators

	BLV	SCHQ	Difference
Max Drawdown Largest peak-to-trough decline	-38.29%	-46.13%	+7.84%
Max Drawdown (1Y) Largest decline over 1 year	-5.73%	-7.01%	+1.28%
Max Drawdown (3Y) Largest decline over 3 years	-15.16%	-17.65%	+2.49%
Max Drawdown (5Y) Largest decline over 5 years	-36.27%	-40.93%	+4.66%
Max Drawdown (10Y) Largest decline over 10 years	-38.29%	—	—
Current Drawdown Current decline from peak	-24.14%	-36.82%	+12.68%
Average Drawdown Average peak-to-trough decline	-9.51%	-26.36%	+16.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	2.70%	-0.44%

Volatility

BLV vs. SCHQ - Volatility Comparison

Vanguard Long-Term Bond ETF (BLV) and Schwab Long-Term U.S. Treasury ETF (SCHQ) have volatilities of 2.50% and 2.57%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLV	SCHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.50%	2.57%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	5.62%	5.94%	-0.32%
Volatility (1Y) Calculated over the trailing 1-year period	8.15%	8.93%	-0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.97%	14.54%	-1.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.98%	15.33%	-3.35%

BLV vs. SCHQ - Expense Ratio Comparison

Both BLV and SCHQ have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

BLV vs. SCHQ - Dividend Comparison

BLV's dividend yield for the trailing twelve months is around 4.80%, which matches SCHQ's 4.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BLV Vanguard Long-Term Bond ETF	4.80%	4.67%	5.09%	4.06%	4.17%	3.37%	6.12%	3.57%	4.07%	3.63%	4.16%	4.37%
SCHQ Schwab Long-Term U.S. Treasury ETF	4.79%	4.54%	4.58%	3.79%	2.88%	1.69%	1.51%	0.44%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BLV and SCHQ in my portfolio?

With a correlation of 0.98, BLV 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, BLV or SCHQ?

SCHQ has higher volatility (2.57%) compared to BLV (2.50%). In terms of maximum drawdown, BLV dropped -38.29% vs SCHQ's -46.13%.

Which ETF is better, BLV or SCHQ?

On 5-year performance, BLV leads with -3.33% vs -5.29% for SCHQ. Both ETFs have the same 0.03% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BLV or SCHQ?

Over the 5-year period, BLV has performed better with a -3.33% return vs -5.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BLV or SCHQ?

BLV and SCHQ have the same expense ratio: 0.03% per year.

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

BLV has the higher dividend yield at 4.80%, compared with 4.79% for SCHQ.

What is the main difference between BLV and SCHQ?

BLV is categorized as Long-Term Bond, while SCHQ is Government Bonds. BLV tracks Bloomberg U.S. Long Government/Credit Float Adjusted Index, while SCHQ tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: Vanguard and Charles Schwab.

Which has better risk-adjusted returns?

BLV currently has the higher Sharpe Ratio (0.81 vs 0.59), 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.