LFAI vs. SCHO

Last updated Jun 4, 2026

LFAI (LifeX 2050 Longevity Income ETF) and SCHO (Schwab Short-Term U.S. Treasury ETF) are both Government Bonds funds. LFAI is actively managed, while SCHO is passively managed. Over the past year, LFAI returned 4.26% vs 3.39% for SCHO. A 0.68 correlation means they provide meaningful diversification when combined. LFAI charges 0.25%/yr vs 0.03%/yr for SCHO.

Performance

LFAI vs. SCHO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LifeX 2050 Longevity Income ETF (LFAI) and Schwab Short-Term U.S. Treasury ETF (SCHO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LFAI achieves a -0.43% return, which is significantly lower than SCHO's 0.42% return.

LFAI

• 1D: -0.31%
• 1M: 0.37%
• YTD: -0.43%
• 6M: -1.22%
• 1Y: 4.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SCHO

• 1D: -0.04%
• 1M: 0.06%
• YTD: 0.42%
• 6M: 0.78%
• 1Y: 3.39%
• 3Y*: 4.15%
• 5Y*: 1.80%
• 10Y*: 1.71%

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

LFAI vs. SCHO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LFAI LifeX 2050 Longevity Income ETF	-0.43%	6.06%	-7.12%
SCHO Schwab Short-Term U.S. Treasury ETF	0.42%	5.49%	-0.46%

Correlation

The correlation between LFAI and SCHO is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (All Time) Calculated using the full available price history since Sep 17, 2024	0.68

The correlation between LFAI and SCHO has been stable across timeframes, ranging from 0.68 to 0.68 - a consistent structural relationship.

Return for Risk

LFAI vs. SCHO — Risk / Return Rank

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

LFAI

LFAI Risk / Return Rank: 20
LFAI Sharpe Ratio Rank: 21
LFAI Sortino Ratio Rank: 20
LFAI Omega Ratio Rank: 19
LFAI Calmar Ratio Rank: 20
LFAI Martin Ratio Rank: 20

SCHO

SCHO Risk / Return Rank: 81
SCHO Sharpe Ratio Rank: 74
SCHO Sortino Ratio Rank: 88
SCHO Omega Ratio Rank: 81
SCHO Calmar Ratio Rank: 77
SCHO Martin Ratio Rank: 83

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.

LFAI vs. SCHO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LifeX 2050 Longevity Income ETF (LFAI) 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.

	LFAI	SCHO	Difference
Sharpe ratio Return per unit of total volatility	0.68	2.48	-1.80
Sortino ratio Return per unit of downside risk	1.02	4.06	-3.04
Omega ratio Gain probability vs. loss probability	1.12	1.50	-0.38
Calmar ratio Return relative to maximum drawdown	0.81	3.96	-3.15
Martin ratio Return relative to average drawdown	2.28	17.03	-14.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LFAI vs. SCHO - Sharpe Ratio Comparison

The current LFAI Sharpe Ratio is 0.68, which is lower than the SCHO Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of LFAI 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.

Sharpe Ratios by Period

	LFAI	SCHO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.68	2.48	-1.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.91	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.16	0.99	-1.15

Drawdowns

LFAI vs. SCHO - Drawdown Comparison

The maximum LFAI drawdown since its inception was -8.64%, which is greater than SCHO's maximum drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for LFAI and SCHO.

Drawdown Indicators

	LFAI	SCHO	Difference
Max Drawdown Largest peak-to-trough decline	-8.64%	-5.69%	-2.95%
Max Drawdown (1Y) Largest decline over 1 year	-5.30%	-0.86%	-4.44%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.98%	—
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	-3.38%	-0.27%	-3.11%
Average Drawdown Average peak-to-trough decline	-3.52%	-0.61%	-2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	0.20%	+1.67%

Volatility

LFAI vs. SCHO - Volatility Comparison

LifeX 2050 Longevity Income ETF (LFAI) has a higher volatility of 2.03% compared to Schwab Short-Term U.S. Treasury ETF (SCHO) at 0.41%. This indicates that LFAI'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.

Volatility by Period

	LFAI	SCHO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.03%	0.41%	+1.62%
Volatility (6M) Calculated over the trailing 6-month period	4.42%	0.90%	+3.52%
Volatility (1Y) Calculated over the trailing 1-year period	6.30%	1.37%	+4.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.16%	1.98%	+5.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.16%	1.56%	+5.60%

LFAI vs. SCHO - Expense Ratio Comparison

LFAI has a 0.25% 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

LFAI vs. SCHO - Dividend Comparison

LFAI's dividend yield for the trailing twelve months is around 13.55%, more than SCHO's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LFAI LifeX 2050 Longevity Income ETF	13.55%	16.48%	1.91%	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

Can I hold both LFAI and SCHO in my portfolio?

LFAI and SCHO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LFAI or SCHO?

LFAI has higher volatility (2.03%) compared to SCHO (0.41%). In terms of maximum drawdown, LFAI dropped -8.64% vs SCHO's -5.69%.

Which ETF is better, LFAI or SCHO?

On 1-year performance, LFAI leads with 4.26% vs 3.39% for SCHO. On fees, SCHO is cheaper at 0.03% per year. On volatility, SCHO has been the lower-risk option at 0.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LFAI or SCHO?

Over the 1-year period, LFAI has performed better with a 4.26% return vs 3.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LFAI or SCHO?

SCHO is cheaper with a 0.03% expense ratio, compared with 0.25% for LFAI.

Which ETF pays a higher dividend yield, LFAI or SCHO?

LFAI has the higher dividend yield at 13.55%, compared with 3.91% for SCHO.

What is the main difference between LFAI and SCHO?

They also come from different issuers: Stone Ridge and Charles Schwab. Their fees differ too: 0.25% for LFAI and 0.03% for SCHO.

Which has better risk-adjusted returns?

SCHO currently has the higher Sharpe Ratio (2.48 vs 0.68), 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.