SCHO vs. BSBIX

Last updated Apr 2, 2026

Compare and contrast key facts about Schwab Short-Term U.S. Treasury ETF (SCHO) and Baird Short-Term Bond Fund Institutional Class (BSBIX).

SCHO is a passively managed fund by Charles Schwab that tracks the performance of the Bloomberg U.S. Treasury 1-3 Year Index. It was launched on Aug 5, 2010. BSBIX is a passively managed fund by Baird that tracks the performance of the Bloomberg Barclays 1-3 Year U.S. Government/Credit Bond Index. It was launched on Aug 31, 2004. Both SCHO and BSBIX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SCHO vs. BSBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Short-Term U.S. Treasury ETF (SCHO) and Baird Short-Term Bond Fund Institutional Class (BSBIX). The values are adjusted to include any dividend payments, if applicable.

SCHO vs. BSBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHO Schwab Short-Term U.S. Treasury ETF	0.26%	5.49%	3.65%	4.31%	-3.87%	-0.64%	3.11%	3.47%	1.37%	0.33%
BSBIX Baird Short-Term Bond Fund Institutional Class	0.27%	5.67%	4.99%	5.65%	-3.64%	-0.42%	4.23%	4.68%	1.49%	1.53%

Returns By Period

The year-to-date returns for both investments are quite close, with SCHO having a 0.26% return and BSBIX slightly higher at 0.27%. Over the past 10 years, SCHO has underperformed BSBIX with an annualized return of 1.72%, while BSBIX has yielded a comparatively higher 2.51% annualized return.

SCHO

• 1D: 0.02%
• 1M: -0.31%
• YTD: 0.26%
• 6M: 1.27%
• 1Y: 3.69%
• 3Y*: 4.00%
• 5Y*: 1.79%
• 10Y*: 1.72%

BSBIX

• 1D: 0.00%
• 1M: -0.39%
• YTD: 0.27%
• 6M: 1.29%
• 1Y: 4.15%
• 3Y*: 5.01%
• 5Y*: 2.46%
• 10Y*: 2.51%

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

SCHO vs. BSBIX - Expense Ratio Comparison

SCHO has a 0.03% expense ratio, which is lower than BSBIX's 0.30% expense ratio.

BSBIX

Baird Short-Term Bond Fund Institutional Class

SCHO

Schwab Short-Term U.S. Treasury ETF

Return for Risk

SCHO vs. BSBIX — Risk / Return Rank

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

SCHO

SCHO Risk / Return Rank: 96
SCHO Sharpe Ratio Rank: 95
SCHO Sortino Ratio Rank: 97
SCHO Omega Ratio Rank: 96
SCHO Calmar Ratio Rank: 96
SCHO Martin Ratio Rank: 96

BSBIX

BSBIX Risk / Return Rank: 98
BSBIX Sharpe Ratio Rank: 98
BSBIX Sortino Ratio Rank: 98
BSBIX Omega Ratio Rank: 98
BSBIX Calmar Ratio Rank: 98
BSBIX Martin Ratio Rank: 98

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.

SCHO vs. BSBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Short-Term U.S. Treasury ETF (SCHO) and Baird Short-Term Bond Fund Institutional Class (BSBIX). 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.

	SCHO	BSBIX	Difference
Sharpe ratio Return per unit of total volatility	2.44	3.02	-0.58
Sortino ratio Return per unit of downside risk	3.92	4.76	-0.85
Omega ratio Gain probability vs. loss probability	1.50	1.81	-0.31
Calmar ratio Return relative to maximum drawdown	4.42	4.54	-0.12
Martin ratio Return relative to average drawdown	17.32	20.13	-2.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCHO vs. BSBIX - Sharpe Ratio Comparison

The current SCHO Sharpe Ratio is 2.44, which is comparable to the BSBIX Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of SCHO and BSBIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SCHO	BSBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	3.02	-0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	1.28	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.11	1.51	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	1.64	-0.64

Correlation

The correlation between SCHO and BSBIX is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SCHO vs. BSBIX - Dividend Comparison

SCHO's dividend yield for the trailing twelve months is around 3.98%, less than BSBIX's 4.30% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHO Schwab Short-Term U.S. Treasury ETF	3.98%	4.06%	4.29%	3.76%	1.34%	0.41%	1.27%	2.27%	1.60%	1.12%	0.82%	0.68%
BSBIX Baird Short-Term Bond Fund Institutional Class	4.30%	4.35%	4.34%	3.41%	1.79%	1.42%	2.61%	2.49%	2.20%	1.73%	1.60%	1.62%

Drawdowns

SCHO vs. BSBIX - Drawdown Comparison

The maximum SCHO drawdown since its inception was -5.69%, roughly equal to the maximum BSBIX drawdown of -5.95%. Use the drawdown chart below to compare losses from any high point for SCHO and BSBIX.

Drawdown Indicators

	SCHO	BSBIX	Difference
Max Drawdown Largest peak-to-trough decline	-5.69%	-5.95%	+0.26%
Max Drawdown (1Y) Largest decline over 1 year	-0.86%	-0.94%	+0.08%
Max Drawdown (5Y) Largest decline over 5 years	-5.69%	-5.95%	+0.26%
Max Drawdown (10Y) Largest decline over 10 years	-5.69%	-5.95%	+0.26%
Current Drawdown Current decline from peak	-0.43%	-0.59%	+0.16%
Average Drawdown Average peak-to-trough decline	-0.61%	-0.55%	-0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.22%	0.21%	+0.01%

Volatility

SCHO vs. BSBIX - Volatility Comparison

Schwab Short-Term U.S. Treasury ETF (SCHO) and Baird Short-Term Bond Fund Institutional Class (BSBIX) have volatilities of 0.52% and 0.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHO	BSBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.52%	0.53%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	0.87%	0.86%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	1.52%	1.42%	+0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.97%	1.93%	+0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.55%	1.67%	-0.12%