GOVT vs. SCHD
GOVT (iShares U.S. Treasury Bond ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - GOVT is a Government Bonds fund tracking the ICE U.S. Treasury Core Bond Index, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 10 years, GOVT returned 0.68%/yr vs 12.76%/yr for SCHD. Their -0.16 correlation means they have often moved in opposite directions in the past. GOVT charges 0.05%/yr vs 0.06%/yr for SCHD.
Performance
GOVT vs. SCHD - Performance Comparison
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Returns By Period
In the year-to-date period, GOVT achieves a -0.74% return, which is significantly lower than SCHD's 24.03% return. Over the past 10 years, GOVT has underperformed SCHD with an annualized return of 0.68%, while SCHD has yielded a comparatively higher 12.76% annualized return.
GOVT
- 1D
- -0.24%
- 1M
- -1.06%
- 6M
- -0.78%
- YTD
- -0.74%
- 1Y
- 1.07%
- 3Y*
- 3.05%
- 5Y*
- -0.94%
- 10Y*
- 0.68%
- ALL TIME*
- 1.18%
SCHD
- 1D
- 0.18%
- 1M
- 3.33%
- 6M
- 14.09%
- YTD
- 24.03%
- 1Y
- 31.54%
- 3Y*
- 14.19%
- 5Y*
- 9.54%
- 10Y*
- 12.76%
- ALL TIME*
- 13.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $167.09M | $164.37M | $191.03M | |
| $786.88M | $715.86M | $685.58M |
GOVT vs. SCHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GOVT iShares U.S. Treasury Bond ETF | -0.74% | 3.77% | 2.95% | 4.17% | -13.39% | -1.11% | 7.28% | 7.36% | 0.26% | 2.19% |
SCHD Schwab U.S. Dividend Equity ETF | 24.03% | 4.34% | 11.66% | 4.54% | -3.26% | 29.87% | 15.03% | 27.29% | -5.56% | 20.85% |
Correlation
The correlation between GOVT and SCHD is 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.16 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.09 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.10 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2012 | -0.16 |
The correlation between GOVT and SCHD shifts across timeframes, from -0.16 (all time) to 0.17 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
GOVT vs. SCHD — Risk / Return Rank
GOVT
SCHD
GOVT vs. SCHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Treasury Bond ETF (GOVT) and Schwab U.S. Dividend Equity ETF (SCHD). 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.
| GOVT | SCHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.27 | ||
| Sortino ratioReturn per unit of downside risk | -3.55 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.51 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | 6.74 | -6.06 |
| Martin ratioReturn relative to average drawdown | 1.61 | 17.01 | -15.40 |
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Drawdowns
GOVT vs. SCHD - Drawdown Comparison
The maximum GOVT drawdown since its inception was -19.07%, smaller than the maximum SCHD drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for GOVT and SCHD.
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Drawdown Indicators
| GOVT | SCHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.07% | -33.37% | +14.30% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | -4.61% | +1.76% |
Max Drawdown (3Y)Largest decline over 3 years | -4.90% | -16.13% | +11.23% |
Max Drawdown (5Y)Largest decline over 5 years | -16.60% | -16.85% | +0.25% |
Max Drawdown (10Y)Largest decline over 10 years | -19.07% | -33.37% | +14.30% |
Current DrawdownCurrent decline from peak | -7.75% | -1.24% | -6.51% |
Average DrawdownAverage peak-to-trough decline | -5.27% | -3.30% | -1.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 1.82% | -0.62% |
Volatility
GOVT vs. SCHD - Volatility Comparison
The current volatility for iShares U.S. Treasury Bond ETF (GOVT) is 0.95%, while Schwab U.S. Dividend Equity ETF (SCHD) has a volatility of 4.11%. This indicates that GOVT experiences smaller price fluctuations and is considered to be less risky than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOVT | SCHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 4.11% | -3.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 8.11% | -5.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.55% | 11.13% | -7.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 14.39% | -8.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.21% | 16.72% | -11.51% |
GOVT vs. SCHD - Expense Ratio Comparison
GOVT has a 0.05% expense ratio, which is lower than SCHD's 0.06% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GOVT vs. SCHD - Dividend Comparison
GOVT's dividend yield for the trailing twelve months is around 3.63%, more than SCHD's 3.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVT iShares U.S. Treasury Bond ETF | 3.33% | 3.49% | 3.14% | 2.65% | 1.77% | 0.96% | 2.17% | 1.98% | 1.97% | 1.57% | 1.40% | 1.25% |
SCHD Schwab U.S. Dividend Equity ETF | 3.13% | 3.82% | 3.64% | 3.49% | 3.39% | 2.78% | 3.16% | 2.98% | 3.06% | 2.63% | 2.89% | 2.97% |
Frequently Asked Questions
GOVT and SCHD have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHD has higher volatility (4.11%) compared to GOVT (0.95%). In terms of maximum drawdown, GOVT dropped -19.07% vs SCHD's -33.37%.
On 10-year performance, SCHD leads with 12.76% vs 0.68% for GOVT. On fees, GOVT is cheaper at 0.05% per year. On volatility, GOVT has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHD has performed better with a 12.76% return vs 0.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOVT is cheaper with a 0.05% expense ratio, compared with 0.06% for SCHD.
GOVT has the higher dividend yield at 3.33%, compared with 3.13% for SCHD.
GOVT is categorized as Government Bonds, while SCHD is Dividend. GOVT tracks ICE U.S. Treasury Core Bond Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.05% for GOVT and 0.06% for SCHD.
SCHD currently has the higher Sharpe Ratio (2.81 vs 0.55), 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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