FLCO vs. SCHI
FLCO (Franklin Liberty Investment Grade Corporate ETF) and SCHI (Schwab 5-10 Year Corporate Bond ETF) are both Corporate Bonds funds. FLCO is actively managed, while SCHI is passively managed. Over the past 5 years, FLCO returned 0.03%/yr vs 1.17%/yr for SCHI. Their correlation of 0.92 suggests significant overlap in exposure. FLCO charges 0.35%/yr vs 0.03%/yr for SCHI.
Performance
FLCO vs. SCHI - Performance Comparison
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Returns By Period
In the year-to-date period, FLCO achieves a 0.55% return, which is significantly higher than SCHI's 0.24% return.
FLCO
- 1D
- -0.23%
- 1M
- 0.64%
- YTD
- 0.55%
- 6M
- 0.73%
- 1Y
- 4.83%
- 3Y*
- 4.95%
- 5Y*
- 0.03%
- 10Y*
- —
SCHI
- 1D
- -0.18%
- 1M
- 0.54%
- YTD
- 0.24%
- 6M
- 0.41%
- 1Y
- 5.43%
- 3Y*
- 6.10%
- 5Y*
- 1.17%
- 10Y*
- —
FLCO vs. SCHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FLCO Franklin Liberty Investment Grade Corporate ETF | 0.55% | 7.53% | 1.93% | 7.94% | -16.08% | -2.06% | 10.01% | 0.81% |
SCHI Schwab 5-10 Year Corporate Bond ETF | 0.24% | 9.47% | 3.32% | 8.97% | -14.06% | -1.85% | 9.74% | 0.83% |
Correlation
The correlation between FLCO and SCHI is 0.95 - 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019 | 0.92 |
The correlation between FLCO and SCHI has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
FLCO vs. SCHI — Risk / Return Rank
FLCO
SCHI
FLCO vs. SCHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Investment Grade Corporate ETF (FLCO) and Schwab 5-10 Year Corporate Bond ETF (SCHI). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FLCO | SCHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.23 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 1.81 | -0.06 |
| Martin ratioReturn relative to average drawdown | 5.17 | 5.83 | -0.66 |
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Drawdowns
FLCO vs. SCHI - Drawdown Comparison
The maximum FLCO drawdown since its inception was -22.71%, which is greater than SCHI's maximum drawdown of -20.67%. Use the drawdown chart below to compare losses from any high point for FLCO and SCHI.
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Drawdown Indicators
| FLCO | SCHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.71% | -20.67% | -2.04% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -3.01% | +0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -6.59% | -6.14% | -0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -22.48% | -20.67% | -1.81% |
Current DrawdownCurrent decline from peak | -2.23% | -1.32% | -0.91% |
Average DrawdownAverage peak-to-trough decline | -5.86% | -5.68% | -0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.93% | +0.01% |
Volatility
FLCO vs. SCHI - Volatility Comparison
The current volatility for Franklin Liberty Investment Grade Corporate ETF (FLCO) is 1.17%, while Schwab 5-10 Year Corporate Bond ETF (SCHI) has a volatility of 1.25%. This indicates that FLCO experiences smaller price fluctuations and is considered to be less risky than SCHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLCO | SCHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.25% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.34% | 3.21% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.40% | 4.14% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.14% | 6.67% | +0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.82% | 7.38% | -0.56% |
FLCO vs. SCHI - Expense Ratio Comparison
FLCO has a 0.35% expense ratio, which is higher than SCHI's 0.03% expense ratio.
Dividends
FLCO vs. SCHI - Dividend Comparison
FLCO's dividend yield for the trailing twelve months is around 4.65%, less than SCHI's 5.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FLCO Franklin Liberty Investment Grade Corporate ETF | 4.65% | 4.60% | 4.63% | 3.83% | 3.85% | 2.85% | 3.99% | 3.39% | 3.86% | 3.33% | 0.51% |
SCHI Schwab 5-10 Year Corporate Bond ETF | 5.05% | 4.99% | 5.11% | 4.27% | 3.10% | 1.93% | 2.31% | 0.53% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, FLCO and SCHI 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.
SCHI has higher volatility (1.25%) compared to FLCO (1.17%). In terms of maximum drawdown, FLCO dropped -22.71% vs SCHI's -20.67%.
On 5-year performance, SCHI leads with 1.17% vs 0.03% for FLCO. On fees, SCHI is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SCHI has performed better with a 1.17% return vs 0.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHI is cheaper with a 0.03% expense ratio, compared with 0.35% for FLCO.
SCHI has the higher dividend yield at 5.05%, compared with 4.65% for FLCO.
They also come from different issuers: Franklin Templeton and Charles Schwab. Their fees differ too: 0.35% for FLCO and 0.03% for SCHI.
SCHI currently has the higher Sharpe Ratio (1.32 vs 1.10), 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.
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