SCHO vs. IWP
SCHO (Schwab Short-Term U.S. Treasury ETF) and IWP (iShares Russell Mid-Cap Growth ETF) are both exchange-traded funds - SCHO is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index, while IWP is a Mid Cap Growth Equities fund tracking the Russell Midcap Growth Index. Both are passively managed. Over the past 10 years, SCHO returned 1.72%/yr vs 11.64%/yr for IWP. At a correlation of -0.10, they often move in opposite directions. SCHO charges 0.03%/yr vs 0.23%/yr for IWP.
Performance
SCHO vs. IWP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SCHO achieves a 0.74% return, which is significantly higher than IWP's 0.63% return. Over the past 10 years, SCHO has underperformed IWP with an annualized return of 1.72%, while IWP has yielded a comparatively higher 11.64% annualized return.
SCHO
- 1D
- -0.04%
- 1M
- 0.28%
- 6M
- 0.78%
- YTD
- 0.74%
- 1Y
- 3.09%
- 3Y*
- 4.27%
- 5Y*
- 1.88%
- 10Y*
- 1.72%
- ALL TIME*
- 1.35%
IWP
- 1D
- 0.00%
- 1M
- -3.07%
- 6M
- -2.52%
- YTD
- 0.63%
- 1Y
- -1.82%
- 3Y*
- 12.07%
- 5Y*
- 4.51%
- 10Y*
- 11.64%
- ALL TIME*
- 9.13%
SCHO vs. IWP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCHO Schwab Short-Term U.S. Treasury ETF | 0.74% | 5.49% | 3.65% | 4.31% | -3.87% | -0.64% | 3.11% | 3.47% | 1.37% | 0.33% |
IWP iShares Russell Mid-Cap Growth ETF | 0.63% | 8.45% | 21.86% | 25.70% | -26.90% | 12.60% | 35.25% | 35.04% | -4.89% | 24.93% |
Correlation
The correlation between SCHO and IWP is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2010 | -0.10 |
The correlation between SCHO and IWP shifts across timeframes, from -0.10 (all time) to 0.20 (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
SCHO vs. IWP — Risk / Return Rank
SCHO
IWP
SCHO vs. IWP - 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 Russell Mid-Cap Growth ETF (IWP). 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 | IWP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.32 | ||
| Sortino ratioReturn per unit of downside risk | +3.57 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.00 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 3.61 | -0.12 | +3.74 |
| Martin ratioReturn relative to average drawdown | 15.23 | -0.35 | +15.59 |
Loading charts...
Drawdowns
SCHO vs. IWP - Drawdown Comparison
The maximum SCHO drawdown since its inception was -5.69%, smaller than the maximum IWP drawdown of -56.92%. Use the drawdown chart below to compare losses from any high point for SCHO and IWP.
Loading charts...
Drawdown Indicators
| SCHO | IWP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.69% | -56.92% | +51.23% |
Max Drawdown (1Y)Largest decline over 1 year | -0.86% | -14.79% | +13.93% |
Max Drawdown (3Y)Largest decline over 3 years | -0.98% | -25.20% | +24.22% |
Max Drawdown (5Y)Largest decline over 5 years | -5.69% | -38.62% | +32.93% |
Max Drawdown (10Y)Largest decline over 10 years | -5.69% | -38.62% | +32.93% |
Current DrawdownCurrent decline from peak | -0.04% | -6.02% | +5.98% |
Average DrawdownAverage peak-to-trough decline | -0.61% | -9.65% | +9.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 5.19% | -4.99% |
Volatility
SCHO vs. IWP - Volatility Comparison
The current volatility for Schwab Short-Term U.S. Treasury ETF (SCHO) is 0.38%, while iShares Russell Mid-Cap Growth ETF (IWP) has a volatility of 5.06%. This indicates that SCHO experiences smaller price fluctuations and is considered to be less risky than IWP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SCHO | IWP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.38% | 5.06% | -4.68% |
Volatility (6M)Calculated over the trailing 6-month period | 1.02% | 13.78% | -12.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.40% | 17.32% | -15.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 22.44% | -20.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.56% | 21.69% | -20.13% |
SCHO vs. IWP - Expense Ratio Comparison
SCHO has a 0.03% expense ratio, which is lower than IWP's 0.23% 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. IWP - Dividend Comparison
SCHO's dividend yield for the trailing twelve months is around 3.90%, more than IWP's 0.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWP iShares Russell Mid-Cap Growth ETF | 0.36% | 0.37% | 0.40% | 0.54% | 0.77% | 0.30% | 0.38% | 0.59% | 1.02% | 0.78% | 1.16% | 0.98% |
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 IWP have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWP has higher volatility (5.06%) compared to SCHO (0.38%). In terms of maximum drawdown, SCHO dropped -5.69% vs IWP's -56.92%.
On 10-year performance, IWP leads with 11.64% 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 0.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IWP has performed better with a 11.64% 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 0.23% for IWP.
SCHO has the higher dividend yield at 3.90%, compared with 0.36% for IWP.
SCHO is categorized as Government Bonds, while IWP is Mid Cap Growth Equities. SCHO tracks Bloomberg U.S. Treasury 1-3 Year Index, while IWP tracks Russell Midcap Growth Index. They also come from different issuers: Charles Schwab and iShares. Their fees differ too: 0.03% for SCHO and 0.23% for IWP.
SCHO currently has the higher Sharpe Ratio (2.22 vs -0.11), 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 SCHO and IWP
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