SCHO vs. FNDX
SCHO (Schwab Short-Term U.S. Treasury ETF) and FNDX (Schwab Fundamental U.S. Large Company Index ETF) are both exchange-traded funds - SCHO is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index, while FNDX is a Large Cap Value Equities fund tracking the RAFI Fundamental High Liquidity US Large Index. Both are passively managed. Over the past 10 years, SCHO returned 1.72%/yr vs 14.27%/yr for FNDX. At a correlation of -0.13, they often move in opposite directions. SCHO charges 0.03%/yr vs 0.25%/yr for FNDX.
Performance
SCHO vs. FNDX - Performance Comparison
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Returns By Period
In the year-to-date period, SCHO achieves a 0.50% return, which is significantly lower than FNDX's 15.35% return. Over the past 10 years, SCHO has underperformed FNDX with an annualized return of 1.72%, while FNDX has yielded a comparatively higher 14.27% annualized return.
SCHO
- 1D
- 0.08%
- 1M
- 0.10%
- YTD
- 0.50%
- 6M
- 0.90%
- 1Y
- 3.35%
- 3Y*
- 4.16%
- 5Y*
- 1.82%
- 10Y*
- 1.72%
FNDX
- 1D
- 0.68%
- 1M
- 3.54%
- YTD
- 15.35%
- 6M
- 15.57%
- 1Y
- 33.72%
- 3Y*
- 21.32%
- 5Y*
- 12.98%
- 10Y*
- 14.27%
SCHO vs. FNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCHO Schwab Short-Term U.S. Treasury ETF | 0.50% | 5.49% | 3.65% | 4.31% | -3.87% | -0.64% | 3.11% | 3.47% | 1.37% | 0.33% |
FNDX Schwab Fundamental U.S. Large Company Index ETF | 15.35% | 16.94% | 16.77% | 18.23% | -6.92% | 31.73% | 9.12% | 28.65% | -7.30% | 17.12% |
Correlation
The correlation between SCHO and FNDX is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2013 | -0.13 |
The correlation between SCHO and FNDX shifts across timeframes, from -0.13 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SCHO vs. FNDX — Risk / Return Rank
SCHO
FNDX
SCHO vs. FNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Short-Term U.S. Treasury ETF (SCHO) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). 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 | FNDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.61 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.91 | 5.59 | -1.67 |
| Martin ratioReturn relative to average drawdown | 16.82 | 21.88 | -5.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SCHO | FNDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 3.32 | -0.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.92 | 0.86 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.11 | 0.82 | +0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.00 | 0.80 | +0.20 |
Drawdowns
SCHO vs. FNDX - Drawdown Comparison
The maximum SCHO drawdown since its inception was -5.69%, smaller than the maximum FNDX drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for SCHO and FNDX.
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Drawdown Indicators
| SCHO | FNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.69% | -37.72% | +32.03% |
Max Drawdown (1Y)Largest decline over 1 year | -0.86% | -6.06% | +5.20% |
Max Drawdown (3Y)Largest decline over 3 years | -0.98% | -16.30% | +15.32% |
Max Drawdown (5Y)Largest decline over 5 years | -5.69% | -19.06% | +13.37% |
Max Drawdown (10Y)Largest decline over 10 years | -5.69% | -37.72% | +32.03% |
Current DrawdownCurrent decline from peak | -0.18% | 0.00% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -0.61% | -3.55% | +2.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 1.55% | -1.35% |
Volatility
SCHO vs. FNDX - Volatility Comparison
The current volatility for Schwab Short-Term U.S. Treasury ETF (SCHO) is 0.42%, while Schwab Fundamental U.S. Large Company Index ETF (FNDX) has a volatility of 2.15%. This indicates that SCHO experiences smaller price fluctuations and is considered to be less risky than FNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHO | FNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.42% | 2.15% | -1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 0.91% | 7.27% | -6.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.37% | 10.22% | -8.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.98% | 15.18% | -13.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.56% | 17.50% | -15.94% |
SCHO vs. FNDX - Expense Ratio Comparison
SCHO has a 0.03% expense ratio, which is lower than FNDX's 0.25% 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
SCHO vs. FNDX - Dividend Comparison
SCHO's dividend yield for the trailing twelve months is around 3.90%, more than FNDX's 1.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNDX Schwab Fundamental U.S. Large Company Index ETF | 1.44% | 1.63% | 1.76% | 1.82% | 2.07% | 1.64% | 2.29% | 2.23% | 2.40% | 1.86% | 2.01% | 2.01% |
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
SCHO and FNDX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNDX has higher volatility (2.15%) compared to SCHO (0.42%). In terms of maximum drawdown, SCHO dropped -5.69% vs FNDX's -37.72%.
On 10-year performance, FNDX leads with 14.27% vs 1.72% for SCHO. On fees, SCHO is cheaper at 0.03% per year. On volatility, SCHO has been the lower-risk option at 0.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FNDX has performed better with a 14.27% return vs 1.72%. 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 0.25% for FNDX.
SCHO has the higher dividend yield at 3.90%, compared with 1.44% for FNDX.
SCHO is categorized as Government Bonds, while FNDX is Large Cap Value Equities. SCHO tracks Bloomberg U.S. Treasury 1-3 Year Index, while FNDX tracks RAFI Fundamental High Liquidity US Large Index. Their fees differ too: 0.03% for SCHO and 0.25% for FNDX.
FNDX currently has the higher Sharpe Ratio (3.32 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.
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