SCHA vs. VBIL

Last updated Jun 23, 2026

SCHA (Schwab U.S. Small-Cap ETF) and VBIL (Vanguard 0-3 Month Treasury Bill 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 VBIL is a Ultrashort Bond fund tracking the Bloomberg US Treasury Bills 0-3 Months Index. Both are passively managed. Over the past year, SCHA returned 45.75% vs 3.91% for VBIL. At a correlation of -0.00, they often move in opposite directions. SCHA charges 0.04%/yr vs 0.07%/yr for VBIL.

Performance

SCHA vs. VBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Small-Cap ETF (SCHA) and Vanguard 0-3 Month Treasury Bill ETF (VBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHA achieves a 24.67% return, which is significantly higher than VBIL's 1.70% return.

SCHA

• 1D: 0.77%
• 1M: 6.39%
• YTD: 24.67%
• 6M: 21.39%
• 1Y: 45.75%
• 3Y*: 20.54%
• 5Y*: 7.90%
• 10Y*: 11.91%

VBIL

• 1D: 0.03%
• 1M: 0.29%
• YTD: 1.70%
• 6M: 1.81%
• 1Y: 3.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCHA vs. VBIL - Yearly Performance Comparison

	2026 (YTD)	2025
SCHA Schwab U.S. Small-Cap ETF	24.67%	8.13%
VBIL Vanguard 0-3 Month Treasury Bill ETF	1.70%	3.73%

Correlation

The correlation between SCHA and VBIL is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Feb 11, 2025	-0.00

Return for Risk

SCHA vs. VBIL — Risk / Return Rank

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

SCHA

SCHA Risk / Return Rank: 81
SCHA Sharpe Ratio Rank: 80
SCHA Sortino Ratio Rank: 80
SCHA Omega Ratio Rank: 72
SCHA Calmar Ratio Rank: 87
SCHA Martin Ratio Rank: 87

VBIL

VBIL Risk / Return Rank: 100
VBIL Sharpe Ratio Rank: 100
VBIL Sortino Ratio Rank: 100
VBIL Omega Ratio Rank: 100
VBIL Calmar Ratio Rank: 100
VBIL Martin Ratio Rank: 100

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.

SCHA vs. VBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Small-Cap ETF (SCHA) and Vanguard 0-3 Month Treasury Bill ETF (VBIL). 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	VBIL	Difference
Sharpe ratio: Return per unit of total volatility	2.46	18.07	-15.61
Sortino ratio: Return per unit of downside risk	3.38	111.81	-108.43
Omega ratio: Gain probability vs. loss probability	1.41	39.66	-38.25
Calmar ratio: Return relative to maximum drawdown	4.84	296.41	-291.58
Martin ratio: Return relative to average drawdown	17.72	1,809.33	-1,791.61

SCHA vs. VBIL - Sharpe Ratio Comparison

The current SCHA Sharpe Ratio is 2.46, which is lower than the VBIL Sharpe Ratio of 18.07. The chart below compares the historical Sharpe Ratios of SCHA and VBIL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SCHA vs. VBIL - Drawdown Comparison

The maximum SCHA drawdown since its inception was -42.41%, which is greater than VBIL's maximum drawdown of -0.09%. Use the drawdown chart below to compare losses from any high point for SCHA and VBIL.

Drawdown Indicators

	SCHA	VBIL	Difference
Max Drawdown Largest peak-to-trough decline	-42.41%	-0.09%	-42.32%
Max Drawdown (1Y) Largest decline over 1 year	-9.50%	-0.01%	-9.49%
Max Drawdown (3Y) Largest decline over 3 years	-27.29%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.79%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.41%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.56%	-0.00%	-7.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	0.00%	+2.59%

Volatility

SCHA vs. VBIL - Volatility Comparison

Schwab U.S. Small-Cap ETF (SCHA) has a higher volatility of 6.45% compared to Vanguard 0-3 Month Treasury Bill ETF (VBIL) at 0.05%. This indicates that SCHA's price experiences larger fluctuations and is considered to be riskier than VBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHA	VBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.45%	0.05%	+6.40%
Volatility (6M) Calculated over the trailing 6-month period	13.80%	0.16%	+13.64%
Volatility (1Y) Calculated over the trailing 1-year period	18.71%	0.22%	+18.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.03%	0.30%	+21.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.78%	0.30%	+22.48%

SCHA vs. VBIL - Expense Ratio Comparison

SCHA has a 0.04% expense ratio, which is lower than VBIL's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SCHA vs. VBIL - Dividend Comparison

SCHA's dividend yield for the trailing twelve months is around 0.96%, less than VBIL's 3.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHA Schwab U.S. Small-Cap ETF	0.96%	1.26%	1.51%	1.42%	1.37%	1.19%	1.05%	1.39%	1.58%	1.24%	1.50%	1.48%
VBIL Vanguard 0-3 Month Treasury Bill ETF	3.65%	3.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SCHA and VBIL in my portfolio?

SCHA and VBIL have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHA or VBIL?

SCHA has higher volatility (6.45%) compared to VBIL (0.05%). In terms of maximum drawdown, SCHA dropped -42.41% vs VBIL's -0.09%.

Which ETF is better, SCHA or VBIL?

On 1-year performance, SCHA leads with 45.75% vs 3.91% for VBIL. On fees, SCHA is cheaper at 0.04% per year. On volatility, VBIL has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHA or VBIL?

Over the 1-year period, SCHA has performed better with a 45.75% return vs 3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHA or VBIL?

SCHA is cheaper with a 0.04% expense ratio, compared with 0.07% for VBIL.

Which ETF pays a higher dividend yield, SCHA or VBIL?

VBIL has the higher dividend yield at 3.65%, compared with 0.96% for SCHA.

What is the main difference between SCHA and VBIL?

SCHA is categorized as Small Cap Blend Equities, while VBIL is Ultrashort Bond. SCHA tracks Dow Jones U.S. Small-Cap Total Stock Market Index, while VBIL tracks Bloomberg US Treasury Bills 0-3 Months Index. They also come from different issuers: Charles Schwab and Vanguard. Their fees differ too: 0.04% for SCHA and 0.07% for VBIL.

Which has better risk-adjusted returns?

VBIL currently has the higher Sharpe Ratio (18.07 vs 2.46), 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.