SCHO vs. SCHY
SCHO (Schwab Short-Term U.S. Treasury ETF) and SCHY (Schwab International Dividend Equity ETF) are both exchange-traded funds - SCHO is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index, while SCHY is a Dividend fund tracking the Dow Jones International Dividend 100 Index (Net). Both are passively managed. Over the past 5 years, SCHO returned 1.88%/yr vs 9.14%/yr for SCHY. Their 0.23 correlation means their historical movements had little consistent relationship. SCHO charges 0.03%/yr vs 0.08%/yr for SCHY.
Performance
SCHO vs. SCHY - Performance Comparison
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Returns By Period
In the year-to-date period, SCHO achieves a 0.83% return, which is significantly lower than SCHY's 13.84% return.
SCHO
- 1D
- 0.05%
- 1M
- 0.09%
- 6M
- 0.68%
- YTD
- 0.83%
- 1Y
- 2.67%
- 3Y*
- 4.23%
- 5Y*
- 1.88%
- 10Y*
- 1.73%
- ALL TIME*
- 1.35%
SCHY
- 1D
- 0.03%
- 1M
- 4.05%
- 6M
- 7.12%
- YTD
- 13.84%
- 1Y
- 28.43%
- 3Y*
- 16.74%
- 5Y*
- 9.14%
- 10Y*
- —
- ALL TIME*
- 9.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $59.21M | $61.33M | $83.92M | |
| $26.22M | $25.42M | $19.49M |
SCHO vs. SCHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SCHO Schwab Short-Term U.S. Treasury ETF | 0.83% | 5.49% | 3.65% | 4.31% | -3.87% | -0.62% |
SCHY Schwab International Dividend Equity ETF | 13.84% | 33.98% | -1.79% | 14.27% | -9.43% | 3.42% |
Correlation
The correlation between SCHO and SCHY is 0.41, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.41 |
Correlation (3Y) Balances recent behavior with more history. | 0.31 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2021 | 0.23 |
The correlation between SCHO and SCHY shifts across timeframes, from 0.23 (all time) to 0.41 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SCHO vs. SCHY — Risk / Return Rank
SCHO
SCHY
SCHO vs. SCHY - 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 International Dividend Equity ETF (SCHY). 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 | SCHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.43 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.13 | 3.14 | -0.01 |
| Martin ratioReturn relative to average drawdown | 13.09 | 8.93 | +4.16 |
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Drawdowns
SCHO vs. SCHY - Drawdown Comparison
The maximum SCHO drawdown since its inception was -5.69%, smaller than the maximum SCHY drawdown of -24.04%. Use the drawdown chart below to compare losses from any high point for SCHO and SCHY.
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Drawdown Indicators
| SCHO | SCHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.69% | -24.04% | +18.35% |
Max Drawdown (1Y)Largest decline over 1 year | -0.86% | -9.11% | +8.25% |
Max Drawdown (3Y)Largest decline over 3 years | -0.98% | -12.16% | +11.18% |
Max Drawdown (5Y)Largest decline over 5 years | -5.64% | -24.04% | +18.40% |
Max Drawdown (10Y)Largest decline over 10 years | -5.69% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.45% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -0.61% | -4.93% | +4.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 3.19% | -2.99% |
Volatility
SCHO vs. SCHY - Volatility Comparison
The current volatility for Schwab Short-Term U.S. Treasury ETF (SCHO) is 0.33%, while Schwab International Dividend Equity ETF (SCHY) has a volatility of 2.59%. This indicates that SCHO experiences smaller price fluctuations and is considered to be less risky than SCHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHO | SCHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.33% | 2.59% | -2.26% |
Volatility (6M)Calculated over the trailing 6-month period | 1.03% | 10.03% | -9.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.32% | 12.03% | -10.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 13.27% | -11.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.57% | 13.17% | -11.60% |
SCHO vs. SCHY - Expense Ratio Comparison
SCHO has a 0.03% expense ratio, which is lower than SCHY's 0.08% 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. SCHY - Dividend Comparison
SCHO's dividend yield for the trailing twelve months is around 3.88%, more than SCHY's 3.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHO Schwab Short-Term U.S. Treasury ETF | 3.88% | 4.06% | 4.29% | 3.76% | 1.34% | 0.41% | 1.27% | 2.27% | 1.60% | 1.12% | 0.82% | 0.68% |
SCHY Schwab International Dividend Equity ETF | 3.32% | 3.55% | 4.64% | 3.97% | 3.67% | 1.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SCHO and SCHY have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHY has higher volatility (2.59%) compared to SCHO (0.33%). In terms of maximum drawdown, SCHO dropped -5.69% vs SCHY's -24.04%.
On 5-year performance, SCHY leads with 9.14% vs 1.88% for SCHO. On fees, SCHO is cheaper at 0.03% per year. On volatility, SCHO has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SCHY has performed better with a 9.14% return vs 1.88%. 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 0.08% for SCHY.
SCHO has the higher dividend yield at 3.88%, compared with 3.32% for SCHY.
SCHO is categorized as Government Bonds, while SCHY is Dividend. SCHO tracks Bloomberg U.S. Treasury 1-3 Year Index, while SCHY tracks Dow Jones International Dividend 100 Index (Net). Their fees differ too: 0.03% for SCHO and 0.08% for SCHY.
SCHY currently has the higher Sharpe Ratio (2.38 vs 2.03), 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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