SCHE vs. EBND
SCHE (Schwab Emerging Markets Equity ETF) and EBND (SPDR Bloomberg Barclays Emerging Markets Local Bond ETF) are both exchange-traded funds - SCHE is a Emerging Markets Equities fund tracking the FTSE Emerging 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, SCHE returned 9.02%/yr vs 1.82%/yr for EBND. A 0.63 correlation means they provide meaningful diversification when combined. SCHE charges 0.11%/yr vs 0.30%/yr for EBND.
Performance
SCHE vs. EBND - Performance Comparison
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Returns By Period
In the year-to-date period, SCHE achieves a 10.50% return, which is significantly higher than EBND's 0.44% return. Over the past 10 years, SCHE has outperformed EBND with an annualized return of 9.02%, while EBND has yielded a comparatively lower 1.82% annualized return.
SCHE
- 1D
- 0.84%
- 1M
- -0.60%
- YTD
- 10.50%
- 6M
- 12.18%
- 1Y
- 24.54%
- 3Y*
- 16.79%
- 5Y*
- 4.83%
- 10Y*
- 9.02%
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%
SCHE vs. EBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCHE Schwab Emerging Markets Equity ETF | 10.50% | 26.54% | 10.60% | 8.93% | -17.84% | -0.65% | 14.49% | 20.31% | -13.57% | 32.70% |
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 SCHE and EBND is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2011 | 0.63 |
The correlation between SCHE and EBND shifts across timeframes, from 0.63 (5 years) to 0.73 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SCHE vs. EBND — Risk / Return Rank
SCHE
EBND
SCHE vs. EBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Emerging Markets Equity ETF (SCHE) 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.
| SCHE | EBND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.68 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.15 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 0.82 | +1.36 |
| Martin ratioReturn relative to average drawdown | 7.70 | 2.63 | +5.06 |
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Drawdowns
SCHE vs. EBND - Drawdown Comparison
The maximum SCHE drawdown since its inception was -36.20%, which is greater than EBND's maximum drawdown of -29.51%. Use the drawdown chart below to compare losses from any high point for SCHE and EBND.
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Drawdown Indicators
| SCHE | EBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.20% | -29.51% | -6.69% |
Max Drawdown (1Y)Largest decline over 1 year | -11.29% | -6.63% | -4.66% |
Max Drawdown (3Y)Largest decline over 3 years | -17.08% | -9.25% | -7.83% |
Max Drawdown (5Y)Largest decline over 5 years | -33.35% | -27.00% | -6.35% |
Max Drawdown (10Y)Largest decline over 10 years | -36.20% | -29.50% | -6.70% |
Current DrawdownCurrent decline from peak | -2.66% | -2.59% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -12.58% | -10.85% | -1.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 2.07% | +1.13% |
Volatility
SCHE vs. EBND - Volatility Comparison
Schwab Emerging Markets Equity ETF (SCHE) has a higher volatility of 6.91% compared to SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND) at 2.61%. This indicates that SCHE'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
| SCHE | EBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.91% | 2.61% | +4.30% |
Volatility (6M)Calculated over the trailing 6-month period | 14.48% | 6.19% | +8.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.97% | 7.11% | +9.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.79% | 9.00% | +8.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.49% | 9.19% | +10.30% |
SCHE vs. EBND - Expense Ratio Comparison
SCHE has a 0.11% expense ratio, which is lower than EBND's 0.30% expense ratio.
Dividends
SCHE vs. EBND - Dividend Comparison
SCHE's dividend yield for the trailing twelve months is around 2.61%, 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% |
SCHE Schwab Emerging Markets Equity ETF | 2.61% | 2.88% | 3.03% | 3.83% | 2.88% | 2.86% | 2.09% | 3.27% | 2.64% | 2.31% | 2.27% | 2.50% |
Frequently Asked Questions
SCHE and EBND have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHE has higher volatility (6.91%) compared to EBND (2.61%). In terms of maximum drawdown, SCHE dropped -36.20% vs EBND's -29.51%.
On 10-year performance, SCHE leads with 9.02% vs 1.82% for EBND. On fees, SCHE is cheaper at 0.11% 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, SCHE has performed better with a 9.02% return vs 1.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHE is cheaper with a 0.11% expense ratio, compared with 0.30% for EBND.
EBND has the higher dividend yield at 5.79%, compared with 2.61% for SCHE.
SCHE is categorized as Emerging Markets Equities, while EBND is Emerging Markets Bonds. SCHE tracks FTSE Emerging 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: 0.11% for SCHE and 0.30% for EBND.
SCHE currently has the higher Sharpe Ratio (1.45 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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