GOVI vs. SCHQ

Last updated Jun 5, 2026

GOVI (Invesco Equal Weight 0-30 Year Treasury ETF) and SCHQ (Schwab Long-Term U.S. Treasury ETF) are both Government Bonds funds - GOVI tracks the ICE 1-30 Year Laddered Maturity U.S. Treasury Index while SCHQ tracks the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 5 years, GOVI returned -2.73%/yr vs -5.24%/yr for SCHQ. With a 0.98 correlation, they move nearly in lockstep. GOVI charges 0.15%/yr vs 0.03%/yr for SCHQ.

Performance

GOVI vs. SCHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) 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, GOVI achieves a -0.34% return, which is significantly lower than SCHQ's -0.17% return.

GOVI

• 1D: 0.20%
• 1M: 0.24%
• YTD: -0.34%
• 6M: -0.80%
• 1Y: 3.44%
• 3Y*: 0.97%
• 5Y*: -2.73%
• 10Y*: -0.05%

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)

GOVI vs. SCHQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GOVI Invesco Equal Weight 0-30 Year Treasury ETF	-0.34%	5.84%	-2.95%	3.31%	-19.98%	-3.76%	12.55%	-2.59%
SCHQ Schwab Long-Term U.S. Treasury ETF	-0.17%	5.50%	-6.44%	3.43%	-29.44%	-4.86%	17.73%	-4.02%

Correlation

The correlation between GOVI and SCHQ is 0.99 - 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	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Oct 11, 2019	0.98

The correlation between GOVI and SCHQ has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

GOVI vs. SCHQ - Sectors Allocation Comparison

Sectors	GOVI	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

GOVI vs. SCHQ — Risk / Return Rank

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

GOVI

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

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.

GOVI vs. SCHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) 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.

	GOVI	SCHQ	Difference
Sharpe ratio: Return per unit of total volatility	0.53	0.44	+0.09
Sortino ratio: Return per unit of downside risk	0.81	0.69	+0.11
Omega ratio: Gain probability vs. loss probability	1.09	1.08	+0.01
Calmar ratio: Return relative to maximum drawdown	0.63	0.55	+0.08
Martin ratio: Return relative to average drawdown	1.76	1.43	+0.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GOVI vs. SCHQ - Sharpe Ratio Comparison

The current GOVI Sharpe Ratio is 0.53, which is comparable to the SCHQ Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of GOVI 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

	GOVI	SCHQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.53	0.44	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.28	-0.36	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.01	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	-0.25	+0.56

Drawdowns

GOVI vs. SCHQ - Drawdown Comparison

The maximum GOVI drawdown since its inception was -32.70%, smaller than the maximum SCHQ drawdown of -46.13%. Use the drawdown chart below to compare losses from any high point for GOVI and SCHQ.

Drawdown Indicators

	GOVI	SCHQ	Difference
Max Drawdown Largest peak-to-trough decline	-32.70%	-46.13%	+13.43%
Max Drawdown (1Y) Largest decline over 1 year	-5.45%	-7.01%	+1.56%
Max Drawdown (3Y) Largest decline over 3 years	-11.58%	-17.65%	+6.07%
Max Drawdown (5Y) Largest decline over 5 years	-28.30%	-40.93%	+12.63%
Max Drawdown (10Y) Largest decline over 10 years	-32.70%	—	—
Current Drawdown Current decline from peak	-22.22%	-36.65%	+14.43%
Average Drawdown Average peak-to-trough decline	-9.65%	-26.37%	+16.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	2.71%	-0.76%

Volatility

GOVI vs. SCHQ - Volatility Comparison

The current volatility for Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) is 2.03%, while Schwab Long-Term U.S. Treasury ETF (SCHQ) has a volatility of 2.55%. This indicates that GOVI 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

	GOVI	SCHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.03%	2.55%	-0.52%
Volatility (6M) Calculated over the trailing 6-month period	4.54%	5.95%	-1.41%
Volatility (1Y) Calculated over the trailing 1-year period	6.58%	8.93%	-2.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.86%	14.53%	-4.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.10%	15.33%	-6.23%

GOVI vs. SCHQ - Expense Ratio Comparison

GOVI has a 0.15% 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

GOVI vs. SCHQ - Dividend Comparison

GOVI's dividend yield for the trailing twelve months is around 3.82%, less than SCHQ's 4.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GOVI Invesco Equal Weight 0-30 Year Treasury ETF	3.82%	3.75%	3.56%	2.87%	1.97%	1.15%	1.00%	1.96%	2.14%	2.02%	2.00%	2.14%
SCHQ Schwab Long-Term U.S. Treasury ETF	4.78%	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 GOVI and SCHQ in my portfolio?

With a correlation of 0.99, GOVI 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, GOVI or SCHQ?

SCHQ has higher volatility (2.55%) compared to GOVI (2.03%). In terms of maximum drawdown, GOVI dropped -32.70% vs SCHQ's -46.13%.

Which ETF is better, GOVI or SCHQ?

On 5-year performance, GOVI leads with -2.73% vs -5.24% for SCHQ. On fees, SCHQ is cheaper at 0.03% per year. On volatility, GOVI has been the lower-risk option at 2.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GOVI or SCHQ?

Over the 5-year period, GOVI has performed better with a -2.73% return vs -5.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GOVI or SCHQ?

SCHQ is cheaper with a 0.03% expense ratio, compared with 0.15% for GOVI.

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

SCHQ has the higher dividend yield at 4.78%, compared with 3.82% for GOVI.

What is the main difference between GOVI and SCHQ?

GOVI tracks ICE 1-30 Year Laddered Maturity U.S. Treasury Index, while SCHQ tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 0.15% for GOVI and 0.03% for SCHQ.

Which has better risk-adjusted returns?

GOVI currently has the higher Sharpe Ratio (0.53 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.