SCHO vs. VGLT
SCHO (Schwab Short-Term U.S. Treasury ETF) and VGLT (Vanguard Long-Term Treasury ETF) are both Government Bonds funds - SCHO tracks the Bloomberg U.S. Treasury 1-3 Year Index while VGLT tracks the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 10 years, SCHO returned 1.73%/yr vs -1.72%/yr for VGLT. Their 0.57 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.03% expense ratio.
Performance
SCHO vs. VGLT - Performance Comparison
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Returns By Period
In the year-to-date period, SCHO achieves a 0.83% return, which is significantly higher than VGLT's -2.90% return. Over the past 10 years, SCHO has outperformed VGLT with an annualized return of 1.73%, while VGLT has yielded a comparatively lower -1.72% annualized 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%
VGLT
- 1D
- 0.37%
- 1M
- -3.15%
- 6M
- -2.54%
- YTD
- -2.90%
- 1Y
- -1.31%
- 3Y*
- -0.04%
- 5Y*
- -7.20%
- 10Y*
- -1.72%
- ALL TIME*
- 2.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $59.21M | $61.33M | $83.92M | |
| $99.02M | $99.81M | $109.19M |
SCHO vs. VGLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCHO Schwab Short-Term U.S. Treasury ETF | 0.83% | 5.49% | 3.65% | 4.31% | -3.87% | -0.64% | 3.11% | 3.47% | 1.37% | 0.33% |
VGLT Vanguard Long-Term Treasury ETF | -2.90% | 5.35% | -6.28% | 3.27% | -29.34% | -4.98% | 17.57% | 14.30% | -1.54% | 8.64% |
Correlation
The correlation between SCHO and VGLT is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.60 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.63 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.59 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2010 | 0.57 |
The correlation between SCHO and VGLT has been stable across timeframes, ranging from 0.57 to 0.64 - a consistent structural relationship.
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Return for Risk
SCHO vs. VGLT — Risk / Return Rank
SCHO
VGLT
SCHO vs. VGLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Short-Term U.S. Treasury ETF (SCHO) and Vanguard Long-Term Treasury ETF (VGLT). 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 | VGLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.19 | ||
| Sortino ratioReturn per unit of downside risk | +3.22 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 0.98 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 3.13 | -0.19 | +3.31 |
| Martin ratioReturn relative to average drawdown | 13.09 | -0.41 | +13.50 |
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Drawdowns
SCHO vs. VGLT - Drawdown Comparison
The maximum SCHO drawdown since its inception was -5.69%, smaller than the maximum VGLT drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for SCHO and VGLT.
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Drawdown Indicators
| SCHO | VGLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.69% | -46.18% | +40.49% |
Max Drawdown (1Y)Largest decline over 1 year | -0.86% | -7.03% | +6.17% |
Max Drawdown (3Y)Largest decline over 3 years | -0.98% | -13.38% | +12.40% |
Max Drawdown (5Y)Largest decline over 5 years | -5.64% | -40.98% | +35.34% |
Max Drawdown (10Y)Largest decline over 10 years | -5.69% | -46.18% | +40.49% |
Current DrawdownCurrent decline from peak | 0.00% | -38.41% | +38.41% |
Average DrawdownAverage peak-to-trough decline | -0.61% | -15.27% | +14.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 3.22% | -3.02% |
Volatility
SCHO vs. VGLT - Volatility Comparison
The current volatility for Schwab Short-Term U.S. Treasury ETF (SCHO) is 0.33%, while Vanguard Long-Term Treasury ETF (VGLT) has a volatility of 2.30%. This indicates that SCHO experiences smaller price fluctuations and is considered to be less risky than VGLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHO | VGLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.33% | 2.30% | -1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 1.03% | 6.31% | -5.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.32% | 8.39% | -7.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 14.46% | -12.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.57% | 13.75% | -12.18% |
SCHO vs. VGLT - Expense Ratio Comparison
Both SCHO and VGLT 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%.
Dividends
SCHO vs. VGLT - Dividend Comparison
SCHO's dividend yield for the trailing twelve months is around 3.88%, less than VGLT's 4.78% 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% |
VGLT Vanguard Long-Term Treasury ETF | 4.78% | 4.44% | 4.33% | 3.33% | 2.84% | 1.82% | 2.15% | 2.46% | 2.71% | 2.55% | 2.69% | 3.21% |
Frequently Asked Questions
SCHO and VGLT have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGLT has higher volatility (2.30%) compared to SCHO (0.33%). In terms of maximum drawdown, SCHO dropped -5.69% vs VGLT's -46.18%.
On 10-year performance, SCHO leads with 1.73% vs -1.72% for VGLT. Both ETFs have the same 0.03% expense ratio. 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 10-year period, SCHO has performed better with a 1.73% return vs -1.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHO and VGLT have the same expense ratio: 0.03% per year.
VGLT has the higher dividend yield at 4.78%, compared with 3.88% for SCHO.
SCHO tracks Bloomberg U.S. Treasury 1-3 Year Index, while VGLT tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: Charles Schwab and Vanguard.
SCHO currently has the higher Sharpe Ratio (2.03 vs -0.16), 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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