OCIO vs. SCHZ
OCIO (ClearShares OCIO ETF) and SCHZ (Schwab U.S. Aggregate Bond ETF) are both exchange-traded funds - OCIO is a Diversified Portfolio fund actively managed by ClearShares LLC, while SCHZ is a Total Bond Market fund tracking the Bloomberg US Aggregate Bond Index. OCIO is actively managed, while SCHZ is passively managed. Over the past 5 years, OCIO returned 7.67%/yr vs 0.02%/yr for SCHZ. At a 0.16 correlation, their price movements are largely independent. OCIO charges 0.61%/yr vs 0.03%/yr for SCHZ.
Performance
OCIO vs. SCHZ - Performance Comparison
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Returns By Period
In the year-to-date period, OCIO achieves a 10.00% return, which is significantly higher than SCHZ's 0.38% return.
OCIO
- 1D
- 0.07%
- 1M
- 2.52%
- YTD
- 10.00%
- 6M
- 9.92%
- 1Y
- 22.19%
- 3Y*
- 14.00%
- 5Y*
- 7.67%
- 10Y*
- —
SCHZ
- 1D
- -0.26%
- 1M
- 0.61%
- YTD
- 0.38%
- 6M
- 0.47%
- 1Y
- 4.52%
- 3Y*
- 3.90%
- 5Y*
- 0.02%
- 10Y*
- 1.48%
OCIO vs. SCHZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OCIO ClearShares OCIO ETF | 10.00% | 12.68% | 12.76% | 12.03% | -12.49% | 13.20% | 11.54% | 18.56% | -10.35% | 8.91% |
SCHZ Schwab U.S. Aggregate Bond ETF | 0.38% | 7.24% | 1.26% | 5.60% | -13.17% | -1.72% | 7.46% | 8.65% | -0.26% | 0.37% |
Correlation
The correlation between OCIO and SCHZ is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2017 | 0.16 |
Over the past year, OCIO and SCHZ have become more correlated (0.40) than their long-term average of 0.16, meaning their price movements have been converging.
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Return for Risk
OCIO vs. SCHZ — Risk / Return Rank
OCIO
SCHZ
OCIO vs. SCHZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ClearShares OCIO ETF (OCIO) and Schwab U.S. Aggregate Bond ETF (SCHZ). 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.
| OCIO | SCHZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.21 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.19 | 1.68 | +1.51 |
| Martin ratioReturn relative to average drawdown | 13.68 | 4.86 | +8.82 |
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Drawdowns
OCIO vs. SCHZ - Drawdown Comparison
The maximum OCIO drawdown since its inception was -24.21%, which is greater than SCHZ's maximum drawdown of -18.74%. Use the drawdown chart below to compare losses from any high point for OCIO and SCHZ.
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Drawdown Indicators
| OCIO | SCHZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.21% | -18.74% | -5.47% |
Max Drawdown (1Y)Largest decline over 1 year | -6.98% | -2.70% | -4.28% |
Max Drawdown (3Y)Largest decline over 3 years | -13.32% | -6.18% | -7.14% |
Max Drawdown (5Y)Largest decline over 5 years | -18.75% | -18.01% | -0.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.74% | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.38% | +2.38% |
Average DrawdownAverage peak-to-trough decline | -4.42% | -3.68% | -0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 0.93% | +0.70% |
Volatility
OCIO vs. SCHZ - Volatility Comparison
ClearShares OCIO ETF (OCIO) has a higher volatility of 4.69% compared to Schwab U.S. Aggregate Bond ETF (SCHZ) at 1.15%. This indicates that OCIO's price experiences larger fluctuations and is considered to be riskier than SCHZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OCIO | SCHZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.69% | 1.15% | +3.54% |
Volatility (6M)Calculated over the trailing 6-month period | 8.71% | 2.79% | +5.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.51% | 3.76% | +6.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.76% | 6.09% | +4.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.41% | 5.42% | +5.99% |
OCIO vs. SCHZ - Expense Ratio Comparison
OCIO has a 0.61% expense ratio, which is higher than SCHZ's 0.03% expense ratio.
Dividends
OCIO vs. SCHZ - Dividend Comparison
OCIO's dividend yield for the trailing twelve months is around 9.42%, more than SCHZ's 4.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OCIO ClearShares OCIO ETF | 9.42% | 10.27% | 1.87% | 2.32% | 3.21% | 2.83% | 2.90% | 2.22% | 0.01% | 1.68% | 0.00% | 0.00% |
SCHZ Schwab U.S. Aggregate Bond ETF | 4.12% | 4.05% | 3.96% | 3.28% | 2.63% | 2.16% | 2.43% | 2.79% | 2.56% | 2.40% | 2.24% | 2.11% |
Frequently Asked Questions
OCIO and SCHZ have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OCIO has higher volatility (4.69%) compared to SCHZ (1.15%). In terms of maximum drawdown, OCIO dropped -24.21% vs SCHZ's -18.74%.
On 5-year performance, OCIO leads with 7.67% vs 0.02% for SCHZ. On fees, SCHZ is cheaper at 0.03% per year. On volatility, SCHZ has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, OCIO has performed better with a 7.67% return vs 0.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHZ is cheaper with a 0.03% expense ratio, compared with 0.61% for OCIO.
OCIO has the higher dividend yield at 9.42%, compared with 4.12% for SCHZ.
OCIO is categorized as Diversified Portfolio, while SCHZ is Total Bond Market. They also come from different issuers: ClearShares LLC and Charles Schwab. Their fees differ too: 0.61% for OCIO and 0.03% for SCHZ.
OCIO currently has the higher Sharpe Ratio (2.12 vs 1.21), 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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