IEI vs. SCHQ
IEI (iShares 3-7 Year Treasury Bond ETF) and SCHQ (Schwab Long-Term U.S. Treasury ETF) are both Government Bonds funds - IEI tracks the ICE U.S. Treasury 3-7 Year Bond Index while SCHQ tracks the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 5 years, IEI returned 0.14%/yr vs -6.96%/yr for SCHQ. Their correlation of 0.82 means they have usually moved in the same direction. IEI charges 0.15%/yr vs 0.03%/yr for SCHQ.
Performance
IEI vs. SCHQ - Performance Comparison
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Returns By Period
In the year-to-date period, IEI achieves a -0.22% return, which is significantly higher than SCHQ's -2.16% return.
IEI
- 1D
- 0.29%
- 1M
- -0.14%
- 6M
- -0.12%
- YTD
- -0.22%
- 1Y
- 1.50%
- 3Y*
- 3.83%
- 5Y*
- 0.14%
- 10Y*
- 1.23%
- ALL TIME*
- 2.84%
SCHQ
- 1D
- 0.77%
- 1M
- -2.42%
- 6M
- -2.00%
- YTD
- -2.16%
- 1Y
- -0.79%
- 3Y*
- 0.22%
- 5Y*
- -6.96%
- 10Y*
- —
- ALL TIME*
- -4.02%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $180.86M | $155.16M | $151.09M | |
| $14.32M | $14.68M | $18.61M |
IEI vs. SCHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IEI iShares 3-7 Year Treasury Bond ETF | -0.22% | 6.96% | 1.81% | 4.42% | -9.51% | -2.54% | 6.95% | -0.96% |
SCHQ Schwab Long-Term U.S. Treasury ETF | -2.16% | 5.50% | -6.44% | 3.43% | -29.44% | -4.86% | 17.73% | -4.20% |
Correlation
The correlation between IEI and SCHQ is 0.81, 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. | 0.81 |
Correlation (3Y) Balances recent behavior with more history. | 0.84 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019 | 0.82 |
The correlation between IEI and SCHQ has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.
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Return for Risk
IEI vs. SCHQ — Risk / Return Rank
IEI
SCHQ
IEI vs. SCHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 3-7 Year Treasury Bond ETF (IEI) 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.
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.
| IEI | SCHQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.99 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.60 | -0.11 | +0.72 |
| Martin ratioReturn relative to average drawdown | 1.37 | -0.24 | +1.61 |
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Drawdowns
IEI vs. SCHQ - Drawdown Comparison
The maximum IEI drawdown since its inception was -14.60%, smaller than the maximum SCHQ drawdown of -46.13%. Use the drawdown chart below to compare losses from any high point for IEI and SCHQ.
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Drawdown Indicators
| IEI | SCHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.60% | -46.13% | +31.53% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -7.05% | +4.55% |
Max Drawdown (3Y)Largest decline over 3 years | -3.66% | -13.38% | +9.72% |
Max Drawdown (5Y)Largest decline over 5 years | -13.52% | -40.93% | +27.41% |
Max Drawdown (10Y)Largest decline over 10 years | -14.60% | — | — |
Current DrawdownCurrent decline from peak | -1.66% | -37.91% | +36.25% |
Average DrawdownAverage peak-to-trough decline | -2.66% | -26.61% | +23.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 3.25% | -2.15% |
Volatility
IEI vs. SCHQ - Volatility Comparison
The current volatility for iShares 3-7 Year Treasury Bond ETF (IEI) is 0.82%, while Schwab Long-Term U.S. Treasury ETF (SCHQ) has a volatility of 2.47%. This indicates that IEI 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.
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Volatility by Period
| IEI | SCHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 2.47% | -1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 2.38% | 6.34% | -3.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.90% | 8.43% | -5.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.79% | 14.42% | -9.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.93% | 15.20% | -11.27% |
IEI vs. SCHQ - Expense Ratio Comparison
IEI has a 0.15% 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
IEI vs. SCHQ - Dividend Comparison
IEI's dividend yield for the trailing twelve months is around 3.70%, less than SCHQ's 4.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEI iShares 3-7 Year Treasury Bond ETF | 3.70% | 3.48% | 3.18% | 2.36% | 1.37% | 0.73% | 1.12% | 2.01% | 1.95% | 1.51% | 1.33% | 1.39% |
SCHQ Schwab Long-Term U.S. Treasury ETF | 4.89% | 4.54% | 4.58% | 3.79% | 2.88% | 1.69% | 1.51% | 0.44% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IEI and SCHQ have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHQ has higher volatility (2.47%) compared to IEI (0.82%). In terms of maximum drawdown, IEI dropped -14.60% vs SCHQ's -46.13%.
On 5-year performance, IEI leads with 0.14% vs -6.96% for SCHQ. On fees, SCHQ is cheaper at 0.03% per year. On volatility, IEI has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IEI has performed better with a 0.14% return vs -6.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHQ is cheaper with a 0.03% expense ratio, compared with 0.15% for IEI.
SCHQ has the higher dividend yield at 4.89%, compared with 3.70% for IEI.
IEI tracks ICE U.S. Treasury 3-7 Year Bond Index, while SCHQ tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.15% for IEI and 0.03% for SCHQ.
IEI currently has the higher Sharpe Ratio (0.52 vs -0.09), 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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