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FUMBX vs. SCHO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FUMBX vs. SCHO

Last updated Apr 3, 2026

Compare and contrast key facts about Fidelity Short-Term Treasury Bond Index Fund (FUMBX) and Schwab Short-Term U.S. Treasury ETF (SCHO).

FUMBX is a passively managed fund by Fidelity that tracks the performance of the Bloomberg Barclays 1-5 Year U.S. Treasury Index. It was launched on Dec 20, 2005. SCHO is a passively managed fund by Charles Schwab that tracks the performance of the Bloomberg U.S. Treasury 1-3 Year Index. It was launched on Aug 5, 2010. Both FUMBX and SCHO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FUMBX vs. SCHO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Short-Term Treasury Bond Index Fund (FUMBX) and Schwab Short-Term U.S. Treasury ETF (SCHO). The values are adjusted to include any dividend payments, if applicable.

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FUMBX vs. SCHO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FUMBX
Fidelity Short-Term Treasury Bond Index Fund		0.16%5.83%3.25%4.47%-5.84%-1.38%4.22%4.19%1.47%-0.33%
SCHO
Schwab Short-Term U.S. Treasury ETF		0.30%5.49%3.65%4.31%-3.87%-0.64%3.11%3.47%1.37%-0.26%

Returns By Period

In the year-to-date period, FUMBX achieves a 0.16% return, which is significantly lower than SCHO's 0.30% return.

FUMBX

1D
0.00%
1M
-0.41%
YTD
0.16%
6M
1.12%
1Y
3.92%
3Y*
3.89%
5Y*
1.36%
10Y*
—

SCHO

1D
0.04%
1M
-0.23%
YTD
0.30%
6M
1.35%
1Y
3.86%
3Y*
3.97%
5Y*
1.80%
10Y*
1.71%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Fidelity Short-Term Treasury Bond Index Fund

Schwab Short-Term U.S. Treasury ETF

Often compared with FUMBX:
FUMBX vs. FXNAXFUMBX vs. VGSHFUMBX vs. FNSOXFUMBX vs. FIPDXFUMBX vs. FBNDXFUMBX vs. FCNVXFUMBX vs. ISTB
Often compared with SCHO:
SCHO vs. SGOVSCHO vs. VGSHSCHO vs. SHVSCHO vs. BSVSCHO vs. BILSCHO vs. SCHQSCHO vs. USFR

FUMBX vs. SCHO - Expense Ratio Comparison

Both FUMBX and SCHO 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%.

FUMBX
Fidelity Short-Term Treasury Bond Index Fund
SCHO
Schwab Short-Term U.S. Treasury ETF

Return for Risk

FUMBX vs. SCHO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FUMBX
FUMBX Risk / Return Rank: 8383
Overall Rank
FUMBX Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
FUMBX Sortino Ratio Rank: 8989
Sortino Ratio Rank
FUMBX Omega Ratio Rank: 8282
Omega Ratio Rank
FUMBX Calmar Ratio Rank: 8686
Calmar Ratio Rank
FUMBX Martin Ratio Rank: 7676
Martin Ratio Rank
SCHO
SCHO Risk / Return Rank: 9696
Overall Rank
SCHO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
SCHO Sortino Ratio Rank: 9898
Sortino Ratio Rank
SCHO Omega Ratio Rank: 9696
Omega Ratio Rank
SCHO Calmar Ratio Rank: 9595
Calmar Ratio Rank
SCHO Martin Ratio Rank: 9595
Martin Ratio Rank
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.

FUMBX vs. SCHO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Short-Term Treasury Bond Index Fund (FUMBX) and Schwab Short-Term U.S. Treasury ETF (SCHO). 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.

FUMBXSCHODifference

Sharpe ratio

Return per unit of total volatility

1.65

2.56

-0.91

Sortino ratio

Return per unit of downside risk

2.61

4.13

-1.52

Omega ratio

Gain probability vs. loss probability

1.35

1.53

-0.18

Calmar ratio

Return relative to maximum drawdown

2.49

4.35

-1.86

Martin ratio

Return relative to average drawdown

8.60

16.94

-8.34

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FUMBX vs. SCHO - Sharpe Ratio Comparison

The current FUMBX Sharpe Ratio is 1.65, which is lower than the SCHO Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of FUMBX and SCHO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

FUMBXSCHODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.65

2.56

-0.91

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.47

0.92

-0.45

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.10

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.74

1.00

-0.26

Correlation

The correlation between FUMBX and SCHO is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FUMBX vs. SCHO - Dividend Comparison

FUMBX's dividend yield for the trailing twelve months is around 3.67%, less than SCHO's 3.97% yield.

TTM20252024202320222021202020192018201720162015
FUMBX
Fidelity Short-Term Treasury Bond Index Fund		3.67%3.51%2.91%1.64%0.86%1.15%1.41%1.88%1.64%0.34%0.00%0.00%
SCHO
Schwab Short-Term U.S. Treasury ETF		3.97%4.06%4.29%3.76%1.34%0.41%1.27%2.27%1.60%1.12%0.82%0.68%

Drawdowns

FUMBX vs. SCHO - Drawdown Comparison

The maximum FUMBX drawdown since its inception was -8.83%, which is greater than SCHO's maximum drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for FUMBX and SCHO.

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Drawdown Indicators

FUMBXSCHODifference

Max Drawdown

Largest peak-to-trough decline

-8.83%

-5.69%

-3.14%

Max Drawdown (1Y)

Largest decline over 1 year

-1.54%

-0.86%

-0.68%

Max Drawdown (5Y)

Largest decline over 5 years

-8.60%

-5.69%

-2.91%

Max Drawdown (10Y)

Largest decline over 10 years

—

-5.69%

—

Current Drawdown

Current decline from peak

-0.80%

-0.39%

-0.41%

Average Drawdown

Average peak-to-trough decline

-1.88%

-0.61%

-1.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.44%

0.22%

+0.22%

Volatility

FUMBX vs. SCHO - Volatility Comparison

Fidelity Short-Term Treasury Bond Index Fund (FUMBX) has a higher volatility of 0.83% compared to Schwab Short-Term U.S. Treasury ETF (SCHO) at 0.52%. This indicates that FUMBX's price experiences larger fluctuations and is considered to be riskier than SCHO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FUMBXSCHODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.83%

0.52%

+0.31%

Volatility (6M)

Calculated over the trailing 6-month period

1.39%

0.86%

+0.53%

Volatility (1Y)

Calculated over the trailing 1-year period

2.32%

1.52%

+0.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.89%

1.97%

+0.92%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.49%

1.55%

+0.94%