SCHO vs. SPTB
Compare and contrast key facts about Schwab Short-Term U.S. Treasury ETF (SCHO) and State Street SPDR Portfolio Treasury ETF (SPTB).
SCHO and SPTB 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. SPTB is a passively managed fund by State Street that tracks the performance of the Bloomberg U.S. Treasury Index. It was launched on May 20, 2024. Both SCHO and SPTB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SCHO vs. SPTB - Performance Comparison
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SCHO vs. SPTB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SCHO Schwab Short-Term U.S. Treasury ETF | 0.26% | 5.49% | 3.11% |
SPTB State Street SPDR Portfolio Treasury ETF | 0.07% | 6.14% | 2.17% |
Returns By Period
In the year-to-date period, SCHO achieves a 0.26% return, which is significantly higher than SPTB's 0.07% 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%
SPTB
- 1D
- -0.05%
- 1M
- -1.36%
- YTD
- 0.07%
- 6M
- 0.58%
- 1Y
- 2.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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SCHO vs. SPTB - Expense Ratio Comparison
Both SCHO and SPTB have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Return for Risk
SCHO vs. SPTB — Risk / Return Rank
SCHO
SPTB
SCHO vs. SPTB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Short-Term U.S. Treasury ETF (SCHO) and State Street SPDR Portfolio Treasury ETF (SPTB). 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 | SPTB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.44 | 0.72 | +1.71 |
Sortino ratioReturn per unit of downside risk | 3.92 | 1.07 | +2.85 |
Omega ratioGain probability vs. loss probability | 1.50 | 1.13 | +0.37 |
Calmar ratioReturn relative to maximum drawdown | 4.42 | 1.21 | +3.21 |
Martin ratioReturn relative to average drawdown | 17.32 | 3.09 | +14.22 |
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 | SPTB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.44 | 0.72 | +1.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.92 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.11 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.00 | 1.01 | -0.01 |
Correlation
The correlation between SCHO and SPTB is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SCHO vs. SPTB - Dividend Comparison
SCHO's dividend yield for the trailing twelve months is around 3.98%, less than SPTB's 4.21% 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% |
SPTB State Street SPDR Portfolio Treasury ETF | 4.21% | 4.23% | 2.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SCHO vs. SPTB - Drawdown Comparison
The maximum SCHO drawdown since its inception was -5.69%, which is greater than SPTB's maximum drawdown of -4.96%. Use the drawdown chart below to compare losses from any high point for SCHO and SPTB.
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Drawdown Indicators
| SCHO | SPTB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.69% | -4.96% | -0.73% |
Max Drawdown (1Y)Largest decline over 1 year | -0.86% | -2.67% | +1.81% |
Max Drawdown (5Y)Largest decline over 5 years | -5.69% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -5.69% | — | — |
Current DrawdownCurrent decline from peak | -0.43% | -1.80% | +1.37% |
Average DrawdownAverage peak-to-trough decline | -0.61% | -1.28% | +0.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 1.04% | -0.82% |
Volatility
SCHO vs. SPTB - Volatility Comparison
The current volatility for Schwab Short-Term U.S. Treasury ETF (SCHO) is 0.52%, while State Street SPDR Portfolio Treasury ETF (SPTB) has a volatility of 1.44%. This indicates that SCHO experiences smaller price fluctuations and is considered to be less risky than SPTB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHO | SPTB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 1.44% | -0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 0.87% | 2.44% | -1.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.52% | 4.10% | -2.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.97% | 4.50% | -2.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.55% | 4.50% | -2.95% |