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IAUM vs. SCHO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAUM vs. SCHO

Last updated Jun 7, 2026

IAUM (iShares Gold Trust Micro) and SCHO (Schwab Short-Term U.S. Treasury ETF) are both exchange-traded funds - IAUM is a Gold fund tracking the LBMA Gold Price PM, while SCHO is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 3 years, IAUM returned 29.97%/yr vs 4.10%/yr for SCHO. At a 0.36 correlation, their price movements are largely independent. IAUM charges 0.09%/yr vs 0.03%/yr for SCHO.

Performance

IAUM vs. SCHO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Gold Trust Micro (IAUM) and Schwab Short-Term U.S. Treasury ETF (SCHO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, IAUM achieves a 0.07% return, which is significantly lower than SCHO's 0.29% return.

IAUM

1D
-3.63%
1M
-8.60%
YTD
0.07%
6M
2.72%
1Y
30.28%
3Y*
29.97%
5Y*
—
10Y*
—

SCHO

1D
-0.21%
1M
-0.27%
YTD
0.29%
6M
0.69%
1Y
3.39%
3Y*
4.10%
5Y*
1.78%
10Y*
1.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAUM vs. SCHO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
IAUM
iShares Gold Trust Micro		0.07%64.27%27.04%13.12%-0.49%3.87%
SCHO
Schwab Short-Term U.S. Treasury ETF		0.29%5.49%3.65%4.31%-3.87%-0.53%

Correlation

The correlation between IAUM and SCHO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.28

Correlation (3Y)
Calculated over the trailing 3-year period

0.27

Correlation (All Time)
Calculated using the full available price history since Jun 30, 2021

0.36

IAUM vs. SCHO - Sectors Allocation Comparison

Sectors
IAUM
SCHO

Real Estate

100.0%

-

Basic Materials

-

-

Communication Services

-

1.1%

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

0.2%

Healthcare

-

-

Industrials

-

-

Technology

-

1.1%

Utilities

-

-

Real Estate

IAUM
100.0%
SCHO

-

Basic Materials

IAUM

-

SCHO

-

Communication Services

IAUM

-

SCHO
1.1%

Consumer Cyclical

IAUM

-

SCHO

-

Consumer Defensive

IAUM

-

SCHO

-

Energy

IAUM

-

SCHO

-

Financial Services

IAUM

-

SCHO
0.2%

Healthcare

IAUM

-

SCHO

-

Industrials

IAUM

-

SCHO

-

Technology

IAUM

-

SCHO
1.1%

Utilities

IAUM

-

SCHO

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Gold Trust Micro

Schwab Short-Term U.S. Treasury ETF

Often compared with IAUM:
IAUM vs. IAUIAUM vs. GLDMIAUM vs. GLDIAUM vs. FSAGXIAUM vs. SGOLIAUM vs. PHYSIAUM vs. SIVR
Often compared with SCHO:
SCHO vs. SGOVSCHO vs. VGSHSCHO vs. BSVSCHO vs. SHVSCHO vs. BILSCHO vs. SCHQSCHO vs. SPTS

Return for Risk

IAUM vs. SCHO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAUM
IAUM Risk / Return Rank: 3030
Overall Rank
IAUM Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
IAUM Sortino Ratio Rank: 2828
Sortino Ratio Rank
IAUM Omega Ratio Rank: 3333
Omega Ratio Rank
IAUM Calmar Ratio Rank: 3030
Calmar Ratio Rank
IAUM Martin Ratio Rank: 2727
Martin Ratio Rank
SCHO
SCHO Risk / Return Rank: 7878
Overall Rank
SCHO Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
SCHO Sortino Ratio Rank: 8484
Sortino Ratio Rank
SCHO Omega Ratio Rank: 7979
Omega Ratio Rank
SCHO Calmar Ratio Rank: 7575
Calmar Ratio Rank
SCHO Martin Ratio Rank: 8181
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.

IAUM vs. SCHO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust Micro (IAUM) 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.

IAUMSCHODifference
Sharpe ratioReturn per unit of total volatility
1.08
2.30

-1.22

Sortino ratioReturn per unit of downside risk
1.46
3.70

-2.24

Omega ratioGain probability vs. loss probability

1.22

1.46

-0.24

Calmar ratioReturn relative to maximum drawdown

1.44

3.71

-2.28

Martin ratioReturn relative to average drawdown

3.64

15.90

-12.26

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

IAUM vs. SCHO - Sharpe Ratio Comparison

The current IAUM Sharpe Ratio is 1.08, which is lower than the SCHO Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of IAUM and SCHO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IAUMSCHODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.08

2.30

-1.22

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.90

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.09

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.11

0.99

+0.12

Drawdowns

IAUM vs. SCHO - Drawdown Comparison

The maximum IAUM drawdown since its inception was -20.87%, which is greater than SCHO's maximum drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for IAUM and SCHO.

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Drawdown Indicators

IAUMSCHODifference

Max Drawdown

Largest peak-to-trough decline

-20.87%

-5.69%

-15.18%

Max Drawdown (1Y)

Largest decline over 1 year

-20.02%

-0.86%

-19.16%

Max Drawdown (3Y)

Largest decline over 3 years

-20.02%

-0.98%

-19.04%

Max Drawdown (5Y)

Largest decline over 5 years

—

-5.69%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-5.69%

—

Current Drawdown

Current decline from peak

-20.02%

-0.39%

-19.63%

Average Drawdown

Average peak-to-trough decline

-5.32%

-0.61%

-4.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.88%

0.20%

+7.68%

Volatility

IAUM vs. SCHO - Volatility Comparison

iShares Gold Trust Micro (IAUM) has a higher volatility of 5.63% compared to Schwab Short-Term U.S. Treasury ETF (SCHO) at 0.45%. This indicates that IAUM'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

IAUMSCHODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.63%

0.45%

+5.18%

Volatility (6M)

Calculated over the trailing 6-month period

23.20%

0.93%

+22.27%

Volatility (1Y)

Calculated over the trailing 1-year period

26.56%

1.39%

+25.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.93%

1.98%

+15.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.93%

1.56%

+16.37%

IAUM vs. SCHO - Expense Ratio Comparison

IAUM has a 0.09% expense ratio, which is higher than SCHO'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

IAUM vs. SCHO - Dividend Comparison

IAUM has not paid dividends to shareholders, while SCHO's dividend yield for the trailing twelve months is around 3.91%.

PositionTTM20252024202320222021202020192018201720162015
IAUM
iShares Gold Trust Micro		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SCHO
Schwab Short-Term U.S. Treasury ETF		3.91%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

IAUM and SCHO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IAUM has higher volatility (5.63%) compared to SCHO (0.45%). In terms of maximum drawdown, IAUM dropped -20.87% vs SCHO's -5.69%.

On 3-year performance, IAUM leads with 29.97% vs 4.10% for SCHO. On fees, SCHO is cheaper at 0.03% per year. On volatility, SCHO has been the lower-risk option at 0.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, IAUM has performed better with a 29.97% return vs 4.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SCHO is cheaper with a 0.03% expense ratio, compared with 0.09% for IAUM.

SCHO has the higher dividend yield at 3.91%, compared with 0.00% for IAUM.

IAUM is categorized as Gold, while SCHO is Government Bonds. IAUM tracks LBMA Gold Price PM, while SCHO tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.09% for IAUM and 0.03% for SCHO.

SCHO currently has the higher Sharpe Ratio (2.30 vs 1.08), 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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