IBTI vs. SCHO
IBTI (iShares iBonds Dec 2028 Term Treasury ETF) and SCHO (Schwab Short-Term U.S. Treasury ETF) are both Government Bonds funds - IBTI tracks the ICE 2028 Maturity US Treasury Index while SCHO tracks the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, IBTI returned -0.06%/yr vs 1.90%/yr for SCHO. Their 0.79 correlation means they have sometimes moved together and sometimes differently. IBTI charges 0.07%/yr vs 0.03%/yr for SCHO.
Performance
IBTI vs. SCHO - Performance Comparison
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Returns By Period
In the year-to-date period, IBTI achieves a 0.82% return, which is significantly lower than SCHO's 0.92% return.
IBTI
- 1D
- 0.16%
- 1M
- 0.22%
- 6M
- 0.72%
- YTD
- 0.82%
- 1Y
- 2.67%
- 3Y*
- 4.13%
- 5Y*
- -0.06%
- 10Y*
- —
- ALL TIME*
- 0.33%
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) |
|---|---|---|---|
| $9.92M | $10.63M | $9.25M | |
| $63.17M | $62.61M | $84.18M |
IBTI vs. SCHO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBTI iShares iBonds Dec 2028 Term Treasury ETF | 0.82% | 6.15% | 2.52% | 4.65% | -11.32% | -3.50% | 3.97% |
SCHO Schwab Short-Term U.S. Treasury ETF | 0.92% | 5.49% | 3.65% | 4.31% | -3.87% | -0.64% | 1.98% |
Correlation
The correlation between IBTI and SCHO is 0.86, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2020 | 0.79 |
The correlation between IBTI and SCHO has been stable across timeframes, ranging from 0.79 to 0.88 - a consistent structural relationship.
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Return for Risk
IBTI vs. SCHO — Risk / Return Rank
IBTI
SCHO
IBTI vs. SCHO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2028 Term Treasury ETF (IBTI) 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.
| IBTI | SCHO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.40 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 3.23 | -0.79 |
| Martin ratioReturn relative to average drawdown | 7.70 | 13.51 | -5.81 |
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Drawdowns
IBTI vs. SCHO - Drawdown Comparison
The maximum IBTI drawdown since its inception was -18.45%, which is greater than SCHO's maximum drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for IBTI and SCHO.
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Drawdown Indicators
| IBTI | SCHO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.45% | -5.69% | -12.76% |
Max Drawdown (1Y)Largest decline over 1 year | -1.10% | -0.86% | -0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -2.81% | -0.98% | -1.83% |
Max Drawdown (5Y)Largest decline over 5 years | -15.72% | -5.64% | -10.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.69% | — |
Current DrawdownCurrent decline from peak | -3.42% | 0.00% | -3.42% |
Average DrawdownAverage peak-to-trough decline | -8.13% | -0.61% | -7.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.35% | 0.20% | +0.15% |
Volatility
IBTI vs. SCHO - Volatility Comparison
iShares iBonds Dec 2028 Term Treasury ETF (IBTI) has a higher volatility of 0.39% compared to Schwab Short-Term U.S. Treasury ETF (SCHO) at 0.34%. This indicates that IBTI'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
| IBTI | SCHO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.39% | 0.34% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.15% | 1.03% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.52% | 1.32% | +0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.97% | 2.00% | +2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.11% | 1.56% | +3.55% |
IBTI vs. SCHO - Expense Ratio Comparison
IBTI 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
IBTI vs. SCHO - Dividend Comparison
IBTI's dividend yield for the trailing twelve months is around 3.77%, less than SCHO's 3.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTI iShares iBonds Dec 2028 Term Treasury ETF | 3.77% | 3.87% | 3.92% | 3.27% | 1.70% | 0.90% | 0.56% | 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
IBTI and SCHO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBTI has higher volatility (0.39%) compared to SCHO (0.34%). In terms of maximum drawdown, IBTI dropped -18.45% vs SCHO's -5.69%.
On 5-year performance, SCHO leads with 1.90% vs -0.06% for IBTI. On fees, SCHO is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SCHO has performed better with a 1.90% return vs -0.06%. 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 IBTI.
SCHO has the higher dividend yield at 3.88%, compared with 3.77% for IBTI.
IBTI tracks ICE 2028 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 IBTI and 0.03% for SCHO.
SCHO currently has the higher Sharpe Ratio (2.09 vs 1.76), 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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