IBTG vs. SCHQ

Last updated Jun 4, 2026

IBTG (iShares iBonds Dec 2026 Term Treasury ETF) and SCHQ (Schwab Long-Term U.S. Treasury ETF) are both Government Bonds funds - IBTG tracks the ICE 2026 Maturity US Treasury Index while SCHQ tracks the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 5 years, IBTG returned 0.84%/yr vs -5.29%/yr for SCHQ. A 0.66 correlation means they provide meaningful diversification when combined. IBTG charges 0.07%/yr vs 0.03%/yr for SCHQ.

Performance

IBTG vs. SCHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2026 Term Treasury ETF (IBTG) 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, IBTG achieves a 1.44% return, which is significantly higher than SCHQ's -0.43% return.

IBTG

• 1D: 0.00%
• 1M: 0.28%
• YTD: 1.44%
• 6M: 1.80%
• 1Y: 4.14%
• 3Y*: 4.11%
• 5Y*: 0.84%
• 10Y*: —

SCHQ

• 1D: -0.45%
• 1M: 0.65%
• YTD: -0.43%
• 6M: -1.74%
• 1Y: 5.22%
• 3Y*: -0.72%
• 5Y*: -5.29%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBTG vs. SCHQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IBTG iShares iBonds Dec 2026 Term Treasury ETF	1.44%	4.40%	3.97%	4.34%	-8.18%	-3.04%	3.99%
SCHQ Schwab Long-Term U.S. Treasury ETF	-0.43%	5.50%	-6.44%	3.43%	-29.44%	-4.86%	2.79%

Correlation

The correlation between IBTG and SCHQ is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Mar 2, 2020	0.66

Over the past year, the correlation between IBTG and SCHQ has dropped to 0.18 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

Return for Risk

IBTG vs. SCHQ — Risk / Return Rank

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

IBTG

IBTG Risk / Return Rank: 99
IBTG Sharpe Ratio Rank: 99
IBTG Sortino Ratio Rank: 99
IBTG Omega Ratio Rank: 99
IBTG Calmar Ratio Rank: 100
IBTG Martin Ratio Rank: 99

SCHQ

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

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.

IBTG vs. SCHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2026 Term Treasury ETF (IBTG) 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.

	IBTG	SCHQ	Difference
Sharpe ratio Return per unit of total volatility	8.02	0.59	+7.43
Sortino ratio Return per unit of downside risk	20.36	0.91	+19.45
Omega ratio Gain probability vs. loss probability	4.40	1.10	+3.30
Calmar ratio Return relative to maximum drawdown	63.59	0.75	+62.84
Martin ratio Return relative to average drawdown	256.63	1.94	+254.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBTG vs. SCHQ - Sharpe Ratio Comparison

The current IBTG Sharpe Ratio is 8.02, which is higher than the SCHQ Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of IBTG 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

	IBTG	SCHQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	8.02	0.59	+7.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	-0.37	+0.63
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	-0.25	+0.54

Drawdowns

IBTG vs. SCHQ - Drawdown Comparison

The maximum IBTG drawdown since its inception was -13.62%, smaller than the maximum SCHQ drawdown of -46.13%. Use the drawdown chart below to compare losses from any high point for IBTG and SCHQ.

Drawdown Indicators

	IBTG	SCHQ	Difference
Max Drawdown Largest peak-to-trough decline	-13.62%	-46.13%	+32.51%
Max Drawdown (1Y) Largest decline over 1 year	-0.07%	-7.01%	+6.94%
Max Drawdown (3Y) Largest decline over 3 years	-1.33%	-17.65%	+16.32%
Max Drawdown (5Y) Largest decline over 5 years	-12.31%	-40.93%	+28.62%
Current Drawdown Current decline from peak	0.00%	-36.82%	+36.82%
Average Drawdown Average peak-to-trough decline	-4.90%	-26.36%	+21.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	2.70%	-2.68%

Volatility

IBTG vs. SCHQ - Volatility Comparison

The current volatility for iShares iBonds Dec 2026 Term Treasury ETF (IBTG) is 0.12%, while Schwab Long-Term U.S. Treasury ETF (SCHQ) has a volatility of 2.57%. This indicates that IBTG 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

	IBTG	SCHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.12%	2.57%	-2.45%
Volatility (6M) Calculated over the trailing 6-month period	0.32%	5.94%	-5.62%
Volatility (1Y) Calculated over the trailing 1-year period	0.52%	8.93%	-8.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.27%	14.54%	-11.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.45%	15.33%	-11.88%

IBTG vs. SCHQ - Expense Ratio Comparison

IBTG has a 0.07% 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

IBTG vs. SCHQ - Dividend Comparison

IBTG's dividend yield for the trailing twelve months is around 3.96%, less than SCHQ's 4.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IBTG iShares iBonds Dec 2026 Term Treasury ETF	3.96%	4.03%	4.08%	3.61%	2.06%	0.66%	0.53%	0.00%
SCHQ Schwab Long-Term U.S. Treasury ETF	4.79%	4.54%	4.58%	3.79%	2.88%	1.69%	1.51%	0.44%

Frequently Asked Questions

Can I hold both IBTG and SCHQ in my portfolio?

IBTG and SCHQ have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBTG or SCHQ?

SCHQ has higher volatility (2.57%) compared to IBTG (0.12%). In terms of maximum drawdown, IBTG dropped -13.62% vs SCHQ's -46.13%.

Which ETF is better, IBTG or SCHQ?

On 5-year performance, IBTG leads with 0.84% vs -5.29% for SCHQ. On fees, SCHQ is cheaper at 0.03% per year. On volatility, IBTG has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBTG or SCHQ?

Over the 5-year period, IBTG has performed better with a 0.84% return vs -5.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBTG or SCHQ?

SCHQ is cheaper with a 0.03% expense ratio, compared with 0.07% for IBTG.

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

SCHQ has the higher dividend yield at 4.79%, compared with 3.96% for IBTG.

What is the main difference between IBTG and SCHQ?

IBTG tracks ICE 2026 Maturity US Treasury Index, while SCHQ tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.07% for IBTG and 0.03% for SCHQ.

Which has better risk-adjusted returns?

IBTG currently has the higher Sharpe Ratio (8.02 vs 0.59), 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.