SCHO vs. MUNI
Compare and contrast key facts about Schwab Short-Term U.S. Treasury ETF (SCHO) and PIMCO Intermediate Municipal Bond Active ETF (MUNI).
SCHO and MUNI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. MUNI is an actively managed fund by PIMCO. It was launched on Nov 30, 2009.
Performance
SCHO vs. MUNI - Performance Comparison
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SCHO vs. MUNI - 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% |
MUNI PIMCO Intermediate Municipal Bond Active ETF | 0.26% | 4.72% | 1.43% | 6.07% | -6.62% | 0.67% | 4.83% | 7.09% | 0.84% | 4.86% |
Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with SCHO at 0.26% and MUNI at 0.26%. Over the past 10 years, SCHO has underperformed MUNI with an annualized return of 1.72%, while MUNI has yielded a comparatively higher 2.18% 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%
MUNI
- 1D
- 0.15%
- 1M
- -1.53%
- YTD
- 0.26%
- 6M
- 1.49%
- 1Y
- 4.51%
- 3Y*
- 3.39%
- 5Y*
- 1.33%
- 10Y*
- 2.18%
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SCHO vs. MUNI - Expense Ratio Comparison
SCHO has a 0.03% expense ratio, which is lower than MUNI's 0.35% expense ratio.
Return for Risk
SCHO vs. MUNI — Risk / Return Rank
SCHO
MUNI
SCHO vs. MUNI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Short-Term U.S. Treasury ETF (SCHO) and PIMCO Intermediate Municipal Bond Active ETF (MUNI). 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 | MUNI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.44 | 1.18 | +1.26 |
Sortino ratioReturn per unit of downside risk | 3.92 | 1.58 | +2.33 |
Omega ratioGain probability vs. loss probability | 1.50 | 1.30 | +0.20 |
Calmar ratioReturn relative to maximum drawdown | 4.42 | 1.63 | +2.78 |
Martin ratioReturn relative to average drawdown | 17.32 | 5.45 | +11.87 |
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 | MUNI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.44 | 1.18 | +1.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.92 | 0.40 | +0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.11 | 0.57 | +0.54 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.00 | 0.77 | +0.23 |
Correlation
The correlation between SCHO and MUNI is 0.41, 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. MUNI - Dividend Comparison
SCHO's dividend yield for the trailing twelve months is around 3.98%, more than MUNI's 3.30% 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% |
MUNI PIMCO Intermediate Municipal Bond Active ETF | 3.30% | 3.26% | 3.50% | 3.09% | 2.13% | 1.62% | 1.92% | 2.44% | 2.38% | 2.37% | 2.37% | 2.20% |
Drawdowns
SCHO vs. MUNI - Drawdown Comparison
The maximum SCHO drawdown since its inception was -5.69%, smaller than the maximum MUNI drawdown of -11.15%. Use the drawdown chart below to compare losses from any high point for SCHO and MUNI.
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Drawdown Indicators
| SCHO | MUNI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.69% | -11.15% | +5.46% |
Max Drawdown (1Y)Largest decline over 1 year | -0.86% | -2.93% | +2.07% |
Max Drawdown (5Y)Largest decline over 5 years | -5.69% | -11.15% | +5.46% |
Max Drawdown (10Y)Largest decline over 10 years | -5.69% | -11.15% | +5.46% |
Current DrawdownCurrent decline from peak | -0.43% | -1.75% | +1.32% |
Average DrawdownAverage peak-to-trough decline | -0.61% | -1.74% | +1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 0.88% | -0.66% |
Volatility
SCHO vs. MUNI - Volatility Comparison
The current volatility for Schwab Short-Term U.S. Treasury ETF (SCHO) is 0.52%, while PIMCO Intermediate Municipal Bond Active ETF (MUNI) has a volatility of 1.07%. This indicates that SCHO experiences smaller price fluctuations and is considered to be less risky than MUNI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHO | MUNI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 1.07% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 0.87% | 1.52% | -0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.52% | 3.86% | -2.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.97% | 3.30% | -1.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.55% | 3.85% | -2.30% |