SCHO vs. GGOV

Last updated Jun 24, 2026

SCHO (Schwab Short-Term U.S. Treasury ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - SCHO is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index, while GGOV is a Global Bonds fund managed by iShares. A 0.50 correlation means they provide meaningful diversification when combined. SCHO charges 0.03%/yr vs 0.39%/yr for GGOV.

Performance

SCHO vs. GGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Short-Term U.S. Treasury ETF (SCHO) and iShares Global Government Bond USD Hedged Active ETF (GGOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHO achieves a 0.42% return, which is significantly lower than GGOV's 2.75% return.

SCHO

• 1D: 0.00%
• 1M: 0.14%
• YTD: 0.42%
• 6M: 0.62%
• 1Y: 3.01%
• 3Y*: 4.20%
• 5Y*: 1.84%
• 10Y*: 1.68%

GGOV

• 1D: 0.02%
• 1M: 0.60%
• YTD: 2.75%
• 6M: 2.61%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCHO vs. GGOV - Yearly Performance Comparison

	2026 (YTD)	2025
SCHO Schwab Short-Term U.S. Treasury ETF	0.42%	2.41%
GGOV iShares Global Government Bond USD Hedged Active ETF	2.75%	-2.80%

Correlation

The correlation between SCHO and GGOV is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.50

Return for Risk

SCHO vs. GGOV — Risk / Return Rank

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

SCHO

SCHO Risk / Return Rank: 76
SCHO Sharpe Ratio Rank: 70
SCHO Sortino Ratio Rank: 81
SCHO Omega Ratio Rank: 77
SCHO Calmar Ratio Rank: 72
SCHO Martin Ratio Rank: 78

GGOV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. GGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Short-Term U.S. Treasury ETF (SCHO) and iShares Global Government Bond USD Hedged Active ETF (GGOV). 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.

	SCHO	GGOV	Difference
Sharpe ratio: Return per unit of total volatility	2.16	—	—
Sortino ratio: Return per unit of downside risk	3.42	—	—
Omega ratio: Gain probability vs. loss probability	1.43	—	—
Calmar ratio: Return relative to maximum drawdown	3.51	—	—
Martin ratio: Return relative to average drawdown	14.59	—	—

Drawdowns

SCHO vs. GGOV - Drawdown Comparison

The maximum SCHO drawdown since its inception was -5.69%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for SCHO and GGOV.

Drawdown Indicators

	SCHO	GGOV	Difference
Max Drawdown Largest peak-to-trough decline	-5.69%	-4.69%	-1.00%
Max Drawdown (1Y) Largest decline over 1 year	-0.86%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-0.98%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-5.69%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-5.69%	—	—
Current Drawdown Current decline from peak	-0.27%	-1.06%	+0.79%
Average Drawdown Average peak-to-trough decline	-0.61%	-1.57%	+0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.21%	—	—

Volatility

Volatility by Period

	SCHO	GGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.49%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.98%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.40%	5.28%	-3.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.99%	5.28%	-3.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.56%	5.28%	-3.72%

SCHO vs. GGOV - Expense Ratio Comparison

SCHO has a 0.03% expense ratio, which is lower than GGOV's 0.39% expense ratio.

Dividends

SCHO vs. GGOV - Dividend Comparison

SCHO's dividend yield for the trailing twelve months is around 3.91%, while GGOV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GGOV iShares Global Government Bond USD Hedged Active ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHO Schwab Short-Term U.S. Treasury ETF	3.91%	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

Can I hold both SCHO and GGOV in my portfolio?

SCHO and GGOV have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SCHO or GGOV?

On fees, SCHO is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SCHO or GGOV?

SCHO is cheaper with a 0.03% expense ratio, compared with 0.39% for GGOV.

Which ETF pays a higher dividend yield, SCHO or GGOV?

SCHO has the higher dividend yield at 3.91%, compared with 0.00% for GGOV.

What is the main difference between SCHO and GGOV?

SCHO is categorized as Government Bonds, while GGOV is Global Bonds. They also come from different issuers: Charles Schwab and iShares. Their fees differ too: 0.03% for SCHO and 0.39% for GGOV.