PLW vs. SCHQ
PLW (Invesco 1-30 Laddered Treasury ETF) and SCHQ (Schwab Long-Term U.S. Treasury ETF) are both Government Bonds funds - PLW tracks the Ryan/NASDAQ 1-30 Year Treasury Laddered Index while SCHQ tracks the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 5 years, PLW returned -3.79%/yr vs -6.96%/yr for SCHQ. Their 0.98 correlation means they have historically moved very closely together. PLW charges 0.25%/yr vs 0.03%/yr for SCHQ.
Performance
PLW vs. SCHQ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PLW achieves a -1.49% return, which is significantly higher than SCHQ's -2.16% return.
PLW
- 1D
- 0.57%
- 1M
- -1.60%
- 6M
- -1.34%
- YTD
- -1.49%
- 1Y
- 0.11%
- 3Y*
- 1.52%
- 5Y*
- -3.79%
- 10Y*
- -0.41%
- ALL TIME*
- 2.91%
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) |
|---|---|---|---|
| $4.68M | $4.78M | $7.09M | |
| $14.32M | $14.68M | $18.61M |
PLW vs. SCHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PLW Invesco 1-30 Laddered Treasury ETF | -1.49% | 5.84% | -2.95% | 3.31% | -19.98% | -3.76% | 12.55% | -3.38% |
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 PLW and SCHQ is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.99 |
Correlation (3Y) Balances recent behavior with more history. | 0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.99 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019 | 0.98 |
The correlation between PLW and SCHQ has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PLW vs. SCHQ — Risk / Return Rank
PLW
SCHQ
PLW vs. SCHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco 1-30 Laddered Treasury ETF (PLW) 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.
| PLW | SCHQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.99 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | -0.11 | +0.13 |
| Martin ratioReturn relative to average drawdown | 0.05 | -0.24 | +0.29 |
Loading charts...
Drawdowns
PLW vs. SCHQ - Drawdown Comparison
The maximum PLW drawdown since its inception was -32.70%, smaller than the maximum SCHQ drawdown of -46.13%. Use the drawdown chart below to compare losses from any high point for PLW and SCHQ.
Loading charts...
Drawdown Indicators
| PLW | SCHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.70% | -46.13% | +13.43% |
Max Drawdown (1Y)Largest decline over 1 year | -5.45% | -7.05% | +1.60% |
Max Drawdown (3Y)Largest decline over 3 years | -9.49% | -13.38% | +3.89% |
Max Drawdown (5Y)Largest decline over 5 years | -28.30% | -40.93% | +12.63% |
Max Drawdown (10Y)Largest decline over 10 years | -32.70% | — | — |
Current DrawdownCurrent decline from peak | -23.12% | -37.91% | +14.79% |
Average DrawdownAverage peak-to-trough decline | -9.76% | -26.61% | +16.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.40% | 3.25% | -0.85% |
Volatility
PLW vs. SCHQ - Volatility Comparison
The current volatility for Invesco 1-30 Laddered Treasury ETF (PLW) is 1.78%, while Schwab Long-Term U.S. Treasury ETF (SCHQ) has a volatility of 2.47%. This indicates that PLW 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.
Loading charts...
Volatility by Period
| PLW | SCHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 2.47% | -0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 4.88% | 6.34% | -1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.24% | 8.43% | -2.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.82% | 14.42% | -4.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.07% | 15.20% | -6.13% |
PLW vs. SCHQ - Expense Ratio Comparison
PLW has a 0.25% 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
PLW vs. SCHQ - Dividend Comparison
PLW's dividend yield for the trailing twelve months is around 3.92%, less than SCHQ's 4.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PLW Invesco 1-30 Laddered Treasury ETF | 3.92% | 3.75% | 3.56% | 2.87% | 1.97% | 1.15% | 1.00% | 1.96% | 2.14% | 2.02% | 2.00% | 2.14% |
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
With a correlation of 0.99, PLW and SCHQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SCHQ has higher volatility (2.47%) compared to PLW (1.78%). In terms of maximum drawdown, PLW dropped -32.70% vs SCHQ's -46.13%.
On 5-year performance, PLW leads with -3.79% vs -6.96% for SCHQ. On fees, SCHQ is cheaper at 0.03% per year. On volatility, PLW has been the lower-risk option at 1.78%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PLW has performed better with a -3.79% 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 0.25% for PLW.
SCHQ has the higher dividend yield at 4.89%, compared with 3.92% for PLW.
PLW tracks Ryan/NASDAQ 1-30 Year Treasury Laddered Index, while SCHQ tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 0.25% for PLW and 0.03% for SCHQ.
PLW currently has the higher Sharpe Ratio (0.02 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.
Find the right allocation for PLW and SCHQ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer