SCHF vs. SCHO
SCHF (Schwab International Equity ETF) and SCHO (Schwab Short-Term U.S. Treasury ETF) are both exchange-traded funds - SCHF is a Foreign Large Cap Equities fund tracking the FTSE Developed ex U.S. Index, while SCHO is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 10 years, SCHF returned 10.78%/yr vs 1.71%/yr for SCHO. At a correlation of -0.06, they often move in opposite directions. SCHF charges 0.06%/yr vs 0.03%/yr for SCHO.
Performance
SCHF vs. SCHO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SCHF achieves a 16.81% return, which is significantly higher than SCHO's 0.58% return. Over the past 10 years, SCHF has outperformed SCHO with an annualized return of 10.78%, while SCHO has yielded a comparatively lower 1.71% annualized return.
SCHF
- 1D
- 1.23%
- 1M
- 5.17%
- YTD
- 16.81%
- 6M
- 17.93%
- 1Y
- 33.37%
- 3Y*
- 19.26%
- 5Y*
- 10.11%
- 10Y*
- 10.78%
SCHO
- 1D
- 0.04%
- 1M
- 0.31%
- YTD
- 0.58%
- 6M
- 0.82%
- 1Y
- 3.47%
- 3Y*
- 4.27%
- 5Y*
- 1.86%
- 10Y*
- 1.71%
SCHF vs. SCHO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCHF Schwab International Equity ETF | 16.81% | 34.55% | 3.28% | 18.35% | -14.80% | 11.40% | 9.48% | 22.26% | -14.29% | 26.03% |
SCHO Schwab Short-Term U.S. Treasury ETF | 0.58% | 5.49% | 3.65% | 4.31% | -3.87% | -0.64% | 3.11% | 3.47% | 1.37% | 0.33% |
Correlation
The correlation between SCHF and SCHO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2010 | -0.06 |
The correlation between SCHF and SCHO shifts across timeframes, from -0.06 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.
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
SCHF vs. SCHO — Risk / Return Rank
SCHF
SCHO
SCHF vs. SCHO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab International Equity ETF (SCHF) and Schwab Short-Term U.S. Treasury ETF (SCHO). 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.
| SCHF | SCHO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -1.44 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.52 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 4.06 | -1.14 |
| Martin ratioReturn relative to average drawdown | 11.21 | 17.10 | -5.89 |
Loading charts...
Drawdowns
SCHF vs. SCHO - Drawdown Comparison
The maximum SCHF drawdown since its inception was -34.87%, which is greater than SCHO's maximum drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for SCHF and SCHO.
Loading charts...
Drawdown Indicators
| SCHF | SCHO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.87% | -5.69% | -29.18% |
Max Drawdown (1Y)Largest decline over 1 year | -11.48% | -0.86% | -10.62% |
Max Drawdown (3Y)Largest decline over 3 years | -13.41% | -0.98% | -12.43% |
Max Drawdown (5Y)Largest decline over 5 years | -29.14% | -5.69% | -23.45% |
Max Drawdown (10Y)Largest decline over 10 years | -34.87% | -5.69% | -29.18% |
Current DrawdownCurrent decline from peak | 0.00% | -0.10% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -7.37% | -0.61% | -6.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.98% | 0.20% | +2.78% |
Volatility
SCHF vs. SCHO - Volatility Comparison
Schwab International Equity ETF (SCHF) has a higher volatility of 7.00% compared to Schwab Short-Term U.S. Treasury ETF (SCHO) at 0.43%. This indicates that SCHF's price experiences larger fluctuations and is considered to be riskier than SCHO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SCHF | SCHO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.00% | 0.43% | +6.57% |
Volatility (6M)Calculated over the trailing 6-month period | 14.45% | 0.93% | +13.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.68% | 1.36% | +15.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.58% | 1.98% | +14.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.24% | 1.56% | +15.68% |
SCHF vs. SCHO - Expense Ratio Comparison
SCHF has a 0.06% expense ratio, which is higher than SCHO'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
SCHF vs. SCHO - Dividend Comparison
SCHF's dividend yield for the trailing twelve months is around 2.93%, less than SCHO's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHF Schwab International Equity ETF | 2.93% | 3.42% | 3.26% | 2.97% | 2.80% | 3.19% | 2.08% | 2.95% | 3.06% | 2.35% | 2.58% | 2.26% |
SCHO Schwab Short-Term U.S. Treasury ETF | 3.90% | 4.06% | 4.29% | 3.76% | 1.34% | 0.41% | 1.27% | 2.27% | 1.60% | 1.12% | 0.82% | 0.68% |
Frequently Asked Questions
SCHF and SCHO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHF has higher volatility (7.00%) compared to SCHO (0.43%). In terms of maximum drawdown, SCHF dropped -34.87% vs SCHO's -5.69%.
On 10-year performance, SCHF leads with 10.78% vs 1.71% for SCHO. On fees, SCHO is cheaper at 0.03% per year. On volatility, SCHO has been the lower-risk option at 0.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHF has performed better with a 10.78% return vs 1.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHO is cheaper with a 0.03% expense ratio, compared with 0.06% for SCHF.
SCHO has the higher dividend yield at 3.90%, compared with 2.93% for SCHF.
SCHF is categorized as Foreign Large Cap Equities, while SCHO is Government Bonds. SCHF tracks FTSE Developed ex U.S. Index, while SCHO tracks Bloomberg U.S. Treasury 1-3 Year Index. Their fees differ too: 0.06% for SCHF and 0.03% for SCHO.
SCHO currently has the higher Sharpe Ratio (2.56 vs 2.01), 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 SCHF and SCHO
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