IBGB vs. SCHO
IBGB (iShares iBonds Dec 2045 Term Treasury ETF) and SCHO (Schwab Short-Term U.S. Treasury ETF) are both Government Bonds funds - IBGB tracks the ICE 2045 Maturity US Treasury Index while SCHO tracks the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past year, IBGB returned -0.26% vs 2.76% for SCHO. Their 0.61 correlation means they have sometimes moved together and sometimes differently. IBGB charges 0.07%/yr vs 0.03%/yr for SCHO.
Performance
IBGB vs. SCHO - Performance Comparison
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Returns By Period
In the year-to-date period, IBGB achieves a -1.86% return, which is significantly lower than SCHO's 0.92% return.
IBGB
- 1D
- 0.77%
- 1M
- -2.11%
- 6M
- -1.81%
- YTD
- -1.86%
- 1Y
- -0.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.52%
SCHO
- 1D
- 0.08%
- 1M
- 0.17%
- 6M
- 0.76%
- YTD
- 0.92%
- 1Y
- 2.76%
- 3Y*
- 4.25%
- 5Y*
- 1.90%
- 10Y*
- 1.74%
- ALL TIME*
- 1.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $32.56K | $33.15K | $77.72K | |
| $63.17M | $62.61M | $84.18M |
IBGB vs. SCHO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBGB iShares iBonds Dec 2045 Term Treasury ETF | -1.86% | 2.62% |
SCHO Schwab Short-Term U.S. Treasury ETF | 0.92% | 3.74% |
Correlation
The correlation between IBGB and SCHO is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.63 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025 | 0.61 |
The correlation between IBGB and SCHO has been stable across timeframes, ranging from 0.61 to 0.63 - a consistent structural relationship.
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Return for Risk
IBGB vs. SCHO — Risk / Return Rank
IBGB
SCHO
IBGB vs. SCHO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2045 Term Treasury ETF (IBGB) 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.
| IBGB | SCHO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.13 | ||
| Sortino ratioReturn per unit of downside risk | -3.14 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.40 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 3.23 | -3.26 |
| Martin ratioReturn relative to average drawdown | -0.08 | 13.51 | -13.60 |
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Drawdowns
IBGB vs. SCHO - Drawdown Comparison
The maximum IBGB drawdown since its inception was -8.09%, which is greater than SCHO's maximum drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for IBGB and SCHO.
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Drawdown Indicators
| IBGB | SCHO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.09% | -5.69% | -2.40% |
Max Drawdown (1Y)Largest decline over 1 year | -6.79% | -0.86% | -5.93% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.98% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.64% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.69% | — |
Current DrawdownCurrent decline from peak | -5.59% | 0.00% | -5.59% |
Average DrawdownAverage peak-to-trough decline | -3.31% | -0.61% | -2.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 0.20% | +2.87% |
Volatility
IBGB vs. SCHO - Volatility Comparison
iShares iBonds Dec 2045 Term Treasury ETF (IBGB) has a higher volatility of 2.36% compared to Schwab Short-Term U.S. Treasury ETF (SCHO) at 0.34%. This indicates that IBGB'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
| IBGB | SCHO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 0.34% | +2.02% |
Volatility (6M)Calculated over the trailing 6-month period | 6.21% | 1.03% | +5.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.02% | 1.32% | +6.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.37% | 2.00% | +7.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.37% | 1.56% | +7.81% |
IBGB vs. SCHO - Expense Ratio Comparison
IBGB has a 0.07% 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
IBGB vs. SCHO - Dividend Comparison
IBGB's dividend yield for the trailing twelve months is around 4.74%, more than SCHO's 3.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBGB iShares iBonds Dec 2045 Term Treasury ETF | 4.74% | 3.53% | 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 | 3.88% | 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
IBGB and SCHO have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBGB has higher volatility (2.36%) compared to SCHO (0.34%). In terms of maximum drawdown, IBGB dropped -8.09% vs SCHO's -5.69%.
On 1-year performance, SCHO leads with 2.76% vs -0.26% for IBGB. On fees, SCHO is cheaper at 0.03% per year. On volatility, SCHO has been the lower-risk option at 0.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SCHO has performed better with a 2.76% return vs -0.26%. 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 0.07% for IBGB.
IBGB has the higher dividend yield at 4.74%, compared with 3.88% for SCHO.
IBGB tracks ICE 2045 Maturity US Treasury Index, 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: 0.07% for IBGB and 0.03% for SCHO.
SCHO currently has the higher Sharpe Ratio (2.09 vs -0.03), 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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