GBDC vs. SCHO
GBDC (Golub Capital BDC, Inc.) is a stock, while SCHO (Schwab Short-Term U.S. Treasury ETF) is Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. Over the past 10 years, GBDC returned 6.03%/yr vs 1.73%/yr for SCHO. Their -0.04 correlation means they have often moved in opposite directions in the past.
Performance
GBDC vs. SCHO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GBDC achieves a 2.46% return, which is significantly higher than SCHO's 0.83% return. Over the past 10 years, GBDC has outperformed SCHO with an annualized return of 6.03%, while SCHO has yielded a comparatively lower 1.73% annualized return.
GBDC
- 1D
- 2.81%
- 1M
- 1.54%
- 6M
- 6.54%
- YTD
- 2.46%
- 1Y
- -0.24%
- 3Y*
- 9.68%
- 5Y*
- 6.93%
- 10Y*
- 6.03%
- ALL TIME*
- 8.43%
SCHO
- 1D
- 0.05%
- 1M
- 0.09%
- 6M
- 0.68%
- YTD
- 0.83%
- 1Y
- 2.67%
- 3Y*
- 4.23%
- 5Y*
- 1.88%
- 10Y*
- 1.73%
- ALL TIME*
- 1.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.41M | $12.15M | $14.94M | |
| $59.21M | $61.33M | $83.92M |
GBDC vs. SCHO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | 2.46% | -0.50% | 13.57% | 27.69% | -6.99% | 17.78% | -14.73% | 21.09% | -2.20% | 6.27% |
SCHO Schwab Short-Term U.S. Treasury ETF | 0.83% | 5.49% | 3.65% | 4.31% | -3.87% | -0.64% | 3.11% | 3.47% | 1.37% | 0.33% |
Correlation
The correlation between GBDC and SCHO is 0.23, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.23 |
Correlation (3Y) Balances recent behavior with more history. | 0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.01 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2010 | -0.04 |
The correlation between GBDC and SCHO shifts across timeframes, from -0.04 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GBDC vs. SCHO — Risk / Return Rank
GBDC
SCHO
GBDC vs. SCHO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Golub Capital BDC, Inc. (GBDC) 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.
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.
| GBDC | SCHO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.05 | ||
| Sortino ratioReturn per unit of downside risk | -2.93 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.38 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 3.13 | -3.14 |
| Martin ratioReturn relative to average drawdown | -0.04 | 13.09 | -13.13 |
Loading charts...
Drawdowns
GBDC vs. SCHO - Drawdown Comparison
The maximum GBDC drawdown since its inception was -47.30%, which is greater than SCHO's maximum drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for GBDC and SCHO.
Loading charts...
Drawdown Indicators
| GBDC | SCHO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.30% | -5.69% | -41.61% |
Max Drawdown (1Y)Largest decline over 1 year | -15.13% | -0.86% | -14.27% |
Max Drawdown (3Y)Largest decline over 3 years | -18.20% | -0.98% | -17.22% |
Max Drawdown (5Y)Largest decline over 5 years | -19.28% | -5.64% | -13.64% |
Max Drawdown (10Y)Largest decline over 10 years | -47.30% | -5.69% | -41.61% |
Current DrawdownCurrent decline from peak | -5.14% | 0.00% | -5.14% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -0.61% | -5.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.13% | 0.20% | +5.93% |
Volatility
GBDC vs. SCHO - Volatility Comparison
Golub Capital BDC, Inc. (GBDC) has a higher volatility of 5.15% compared to Schwab Short-Term U.S. Treasury ETF (SCHO) at 0.33%. This indicates that GBDC'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.
Loading charts...
Volatility by Period
| GBDC | SCHO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.15% | 0.33% | +4.82% |
Volatility (6M)Calculated over the trailing 6-month period | 16.37% | 1.03% | +15.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.43% | 1.32% | +18.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.29% | 2.00% | +15.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.65% | 1.57% | +20.08% |
Dividends
GBDC vs. SCHO - Dividend Comparison
GBDC's dividend yield for the trailing twelve months is around 10.92%, more than SCHO's 3.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | 10.92% | 11.50% | 12.73% | 10.00% | 9.35% | 7.58% | 8.44% | 7.70% | 8.49% | 7.47% | 8.32% | 7.70% |
SCHO Schwab Short-Term U.S. Treasury ETF | 3.88% | 4.06% | 4.29% | 3.76% | 1.34% | 0.41% | 1.27% | 2.27% | 1.60% | 1.12% | 0.82% | 0.68% |
Frequently Asked Questions
GBDC and SCHO have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBDC has higher volatility (5.15%) compared to SCHO (0.33%). In terms of maximum drawdown, GBDC dropped -47.30% vs SCHO's -5.69%.
SCHO currently has the higher Sharpe Ratio (2.03 vs -0.01), 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.
Find the right allocation for GBDC and SCHO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer