SCHJ vs. MILK

Last updated Jun 4, 2026

SCHJ (Schwab 1-5 Year Corporate Bond ETF) and MILK (Pacer US Cash Cows Bond ETF) are both Corporate Bonds funds - SCHJ tracks the Bloomberg US Corporate (1-5 Y) while MILK tracks the Solactive Pacer US Cash Cows Bond Index. Both are passively managed. Over the past year, SCHJ returned 4.52% vs 9.23% for MILK. A 0.72 correlation means they provide meaningful diversification when combined. SCHJ charges 0.05%/yr vs 0.49%/yr for MILK.

Performance

SCHJ vs. MILK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab 1-5 Year Corporate Bond ETF (SCHJ) and Pacer US Cash Cows Bond ETF (MILK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHJ achieves a 0.56% return, which is significantly lower than MILK's 2.18% return.

SCHJ

• 1D: -0.08%
• 1M: 0.13%
• YTD: 0.56%
• 6M: 0.86%
• 1Y: 4.52%
• 3Y*: 5.49%
• 5Y*: 2.31%
• 10Y*: —

MILK

• 1D: -0.24%
• 1M: 1.10%
• YTD: 2.18%
• 6M: 1.55%
• 1Y: 9.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCHJ vs. MILK - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SCHJ Schwab 1-5 Year Corporate Bond ETF	0.56%	6.80%	0.34%
MILK Pacer US Cash Cows Bond ETF	2.18%	7.49%	-0.35%

Correlation

The correlation between SCHJ and MILK is 0.78, 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	0.78
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024	0.72

The correlation between SCHJ and MILK has been stable across timeframes, ranging from 0.72 to 0.78 - a consistent structural relationship.

Return for Risk

SCHJ vs. MILK — Risk / Return Rank

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

SCHJ

SCHJ Risk / Return Rank: 72
SCHJ Sharpe Ratio Rank: 73
SCHJ Sortino Ratio Rank: 83
SCHJ Omega Ratio Rank: 79
SCHJ Calmar Ratio Rank: 61
SCHJ Martin Ratio Rank: 66

MILK

MILK Risk / Return Rank: 52
MILK Sharpe Ratio Rank: 53
MILK Sortino Ratio Rank: 55
MILK Omega Ratio Rank: 51
MILK Calmar Ratio Rank: 50
MILK Martin Ratio Rank: 53

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.

SCHJ vs. MILK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab 1-5 Year Corporate Bond ETF (SCHJ) and Pacer US Cash Cows Bond ETF (MILK). 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.

	SCHJ	MILK	Difference
Sharpe ratio: Return per unit of total volatility	2.42	1.78	+0.64
Sortino ratio: Return per unit of downside risk	3.78	2.59	+1.19
Omega ratio: Gain probability vs. loss probability	1.48	1.32	+0.16
Calmar ratio: Return relative to maximum drawdown	3.08	2.47	+0.61
Martin ratio: Return relative to average drawdown	12.17	8.90	+3.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCHJ vs. MILK - Sharpe Ratio Comparison

The current SCHJ Sharpe Ratio is 2.42, which is higher than the MILK Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of SCHJ and MILK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SCHJ	MILK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	1.78	+0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.97	-0.33

Drawdowns

SCHJ vs. MILK - Drawdown Comparison

The maximum SCHJ drawdown since its inception was -13.62%, which is greater than MILK's maximum drawdown of -6.16%. Use the drawdown chart below to compare losses from any high point for SCHJ and MILK.

Drawdown Indicators

	SCHJ	MILK	Difference
Max Drawdown Largest peak-to-trough decline	-13.62%	-6.16%	-7.46%
Max Drawdown (1Y) Largest decline over 1 year	-1.47%	-3.75%	+2.28%
Max Drawdown (3Y) Largest decline over 3 years	-1.47%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.43%	—	—
Current Drawdown Current decline from peak	-0.45%	-0.24%	-0.21%
Average Drawdown Average peak-to-trough decline	-1.88%	-1.09%	-0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.37%	1.04%	-0.67%

Volatility

SCHJ vs. MILK - Volatility Comparison

The current volatility for Schwab 1-5 Year Corporate Bond ETF (SCHJ) is 0.55%, while Pacer US Cash Cows Bond ETF (MILK) has a volatility of 1.58%. This indicates that SCHJ experiences smaller price fluctuations and is considered to be less risky than MILK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHJ	MILK	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.55%	1.58%	-1.03%
Volatility (6M) Calculated over the trailing 6-month period	1.35%	3.78%	-2.43%
Volatility (1Y) Calculated over the trailing 1-year period	1.87%	5.21%	-3.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.94%	6.69%	-3.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.13%	6.69%	-2.56%

SCHJ vs. MILK - Expense Ratio Comparison

SCHJ has a 0.05% expense ratio, which is lower than MILK's 0.49% expense ratio.

Dividends

SCHJ vs. MILK - Dividend Comparison

SCHJ's dividend yield for the trailing twelve months is around 4.50%, less than MILK's 7.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
MILK Pacer US Cash Cows Bond ETF	7.04%	6.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHJ Schwab 1-5 Year Corporate Bond ETF	4.50%	4.42%	4.00%	2.98%	1.64%	0.94%	2.54%	0.42%

Frequently Asked Questions

Can I hold both SCHJ and MILK in my portfolio?

SCHJ and MILK have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHJ or MILK?

MILK has higher volatility (1.58%) compared to SCHJ (0.55%). In terms of maximum drawdown, SCHJ dropped -13.62% vs MILK's -6.16%.

Which ETF is better, SCHJ or MILK?

On 1-year performance, MILK leads with 9.23% vs 4.52% for SCHJ. On fees, SCHJ is cheaper at 0.05% per year. On volatility, SCHJ has been the lower-risk option at 0.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHJ or MILK?

Over the 1-year period, MILK has performed better with a 9.23% return vs 4.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHJ or MILK?

SCHJ is cheaper with a 0.05% expense ratio, compared with 0.49% for MILK.

Which ETF pays a higher dividend yield, SCHJ or MILK?

MILK has the higher dividend yield at 7.04%, compared with 4.50% for SCHJ.

What is the main difference between SCHJ and MILK?

SCHJ tracks Bloomberg US Corporate (1-5 Y), while MILK tracks Solactive Pacer US Cash Cows Bond Index. They also come from different issuers: Charles Schwab and Pacer. Their fees differ too: 0.05% for SCHJ and 0.49% for MILK.

Which has better risk-adjusted returns?

SCHJ currently has the higher Sharpe Ratio (2.42 vs 1.78), 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.