SCHA vs. EBND
SCHA (Schwab U.S. Small-Cap ETF) and EBND (SPDR Bloomberg Barclays Emerging Markets Local Bond ETF) are both exchange-traded funds - SCHA is a Small Cap Blend Equities fund tracking the Dow Jones U.S. Small-Cap Total Stock Market Index, while EBND is a Emerging Markets Bonds fund tracking the Bloomberg Emerging Market Local Currency Government Diversified. Both are passively managed. Over the past 10 years, SCHA returned 11.55%/yr vs 1.82%/yr for EBND. At a 0.42 correlation, their price movements are largely independent. SCHA charges 0.04%/yr vs 0.30%/yr for EBND.
Performance
SCHA vs. EBND - Performance Comparison
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Returns By Period
In the year-to-date period, SCHA achieves a 22.49% return, which is significantly higher than EBND's 0.44% return. Over the past 10 years, SCHA has outperformed EBND with an annualized return of 11.55%, while EBND has yielded a comparatively lower 1.82% annualized return.
SCHA
- 1D
- 1.16%
- 1M
- 5.29%
- YTD
- 22.49%
- 6M
- 19.84%
- 1Y
- 41.48%
- 3Y*
- 18.37%
- 5Y*
- 7.19%
- 10Y*
- 11.55%
EBND
- 1D
- 0.34%
- 1M
- 0.64%
- YTD
- 0.44%
- 6M
- 1.64%
- 1Y
- 5.43%
- 3Y*
- 5.36%
- 5Y*
- 0.21%
- 10Y*
- 1.82%
SCHA vs. EBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCHA Schwab U.S. Small-Cap ETF | 22.49% | 11.60% | 11.16% | 18.46% | -19.81% | 16.45% | 19.34% | 26.50% | -11.79% | 14.94% |
EBND SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | 0.44% | 15.83% | -2.70% | 9.02% | -11.84% | -9.66% | 4.49% | 10.40% | -6.52% | 13.93% |
Correlation
The correlation between SCHA and EBND is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2011 | 0.42 |
The correlation between SCHA and EBND shifts across timeframes, from 0.42 (10 years) to 0.58 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SCHA vs. EBND — Risk / Return Rank
SCHA
EBND
SCHA vs. EBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Small-Cap ETF (SCHA) and SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND). 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.
| SCHA | EBND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.47 | ||
| Sortino ratioReturn per unit of downside risk | +2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.15 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 4.38 | 0.82 | +3.56 |
| Martin ratioReturn relative to average drawdown | 16.08 | 2.63 | +13.45 |
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Drawdowns
SCHA vs. EBND - Drawdown Comparison
The maximum SCHA drawdown since its inception was -42.41%, which is greater than EBND's maximum drawdown of -29.51%. Use the drawdown chart below to compare losses from any high point for SCHA and EBND.
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Drawdown Indicators
| SCHA | EBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.41% | -29.51% | -12.90% |
Max Drawdown (1Y)Largest decline over 1 year | -9.50% | -6.63% | -2.87% |
Max Drawdown (3Y)Largest decline over 3 years | -27.29% | -9.25% | -18.04% |
Max Drawdown (5Y)Largest decline over 5 years | -30.79% | -27.00% | -3.79% |
Max Drawdown (10Y)Largest decline over 10 years | -42.41% | -29.50% | -12.91% |
Current DrawdownCurrent decline from peak | 0.00% | -2.59% | +2.59% |
Average DrawdownAverage peak-to-trough decline | -7.57% | -10.85% | +3.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 2.07% | +0.52% |
Volatility
SCHA vs. EBND - Volatility Comparison
Schwab U.S. Small-Cap ETF (SCHA) has a higher volatility of 6.62% compared to SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND) at 2.61%. This indicates that SCHA's price experiences larger fluctuations and is considered to be riskier than EBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHA | EBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.62% | 2.61% | +4.01% |
Volatility (6M)Calculated over the trailing 6-month period | 13.67% | 6.19% | +7.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.62% | 7.11% | +11.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.03% | 9.00% | +13.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.75% | 9.19% | +13.56% |
SCHA vs. EBND - Expense Ratio Comparison
SCHA has a 0.04% expense ratio, which is lower than EBND's 0.30% expense ratio.
Dividends
SCHA vs. EBND - Dividend Comparison
SCHA's dividend yield for the trailing twelve months is around 0.98%, less than EBND's 5.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EBND SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | 5.79% | 5.54% | 5.89% | 5.26% | 4.75% | 3.83% | 3.67% | 4.68% | 4.70% | 2.00% | 0.00% | 0.00% |
SCHA Schwab U.S. Small-Cap ETF | 0.98% | 1.26% | 1.51% | 1.42% | 1.37% | 1.19% | 1.05% | 1.39% | 1.58% | 1.24% | 1.50% | 1.48% |
Frequently Asked Questions
SCHA and EBND have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHA has higher volatility (6.62%) compared to EBND (2.61%). In terms of maximum drawdown, SCHA dropped -42.41% vs EBND's -29.51%.
On 10-year performance, SCHA leads with 11.55% vs 1.82% for EBND. On fees, SCHA is cheaper at 0.04% per year. On volatility, EBND has been the lower-risk option at 2.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHA has performed better with a 11.55% return vs 1.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHA is cheaper with a 0.04% expense ratio, compared with 0.30% for EBND.
EBND has the higher dividend yield at 5.79%, compared with 0.98% for SCHA.
SCHA is categorized as Small Cap Blend Equities, while EBND is Emerging Markets Bonds. SCHA tracks Dow Jones U.S. Small-Cap Total Stock Market Index, while EBND tracks Bloomberg Emerging Market Local Currency Government Diversified. They also come from different issuers: Charles Schwab and State Street. Their fees differ too: 0.04% for SCHA and 0.30% for EBND.
SCHA currently has the higher Sharpe Ratio (2.24 vs 0.77), 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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