SCHO vs. VGSH
SCHO (Schwab Short-Term U.S. Treasury ETF) and VGSH (Vanguard Short-Term Treasury ETF) are both Government Bonds funds tracking the Bloomberg U.S. Treasury 1-3 Year Index, from Charles Schwab and Vanguard respectively. Both are passively managed. Over the past 10 years, SCHO returned 1.72%/yr vs 1.73%/yr for VGSH. Their 0.78 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.03% expense ratio.
Performance
SCHO vs. VGSH - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SCHO having a 0.79% return and VGSH slightly lower at 0.77%. Both investments have delivered pretty close results over the past 10 years, with SCHO having a 1.72% annualized return and VGSH not far ahead at 1.73%.
SCHO
- 1D
- -0.04%
- 1M
- 0.04%
- 6M
- 0.58%
- YTD
- 0.79%
- 1Y
- 2.63%
- 3Y*
- 4.31%
- 5Y*
- 1.87%
- 10Y*
- 1.72%
- ALL TIME*
- 1.35%
VGSH
- 1D
- -0.05%
- 1M
- 0.03%
- 6M
- 0.55%
- YTD
- 0.77%
- 1Y
- 2.58%
- 3Y*
- 4.29%
- 5Y*
- 1.87%
- 10Y*
- 1.73%
- ALL TIME*
- 1.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $59.23M | $61.44M | $84.14M | |
| $133.56M | $160.92M | $191.51M |
SCHO vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCHO Schwab Short-Term U.S. Treasury ETF | 0.79% | 5.49% | 3.65% | 4.31% | -3.87% | -0.64% | 3.11% | 3.47% | 1.37% | 0.33% |
VGSH Vanguard Short-Term Treasury ETF | 0.77% | 5.07% | 4.00% | 4.31% | -3.86% | -0.60% | 3.04% | 3.52% | 1.55% | 0.04% |
Correlation
The correlation between SCHO and VGSH is 0.88, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.88 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.94 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2010 | 0.78 |
The correlation between SCHO and VGSH shifts across timeframes, from 0.78 (all time) to 0.94 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SCHO vs. VGSH — Risk / Return Rank
SCHO
VGSH
SCHO vs. VGSH - 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 Short-Term Treasury ETF (VGSH). 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 | VGSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.49 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 3.51 | +0.16 |
| Martin ratioReturn relative to average drawdown | 15.34 | 13.46 | +1.88 |
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Drawdowns
SCHO vs. VGSH - Drawdown Comparison
The maximum SCHO drawdown since its inception was -5.69%, roughly equal to the maximum VGSH drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for SCHO and VGSH.
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Drawdown Indicators
| SCHO | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.69% | -5.70% | +0.01% |
Max Drawdown (1Y)Largest decline over 1 year | -0.86% | -0.88% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -0.98% | -0.97% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -5.69% | -5.66% | -0.03% |
Max Drawdown (10Y)Largest decline over 10 years | -5.69% | -5.70% | +0.01% |
Current DrawdownCurrent decline from peak | -0.04% | -0.05% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -0.61% | -0.59% | -0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 0.23% | -0.03% |
Volatility
SCHO vs. VGSH - Volatility Comparison
Schwab Short-Term U.S. Treasury ETF (SCHO) and Vanguard Short-Term Treasury ETF (VGSH) have volatilities of 0.37% and 0.36%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHO | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.37% | 0.36% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.03% | 1.01% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.41% | 1.32% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 1.98% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.56% | 1.58% | -0.02% |
SCHO vs. VGSH - Expense Ratio Comparison
Both SCHO and VGSH 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. VGSH - Dividend Comparison
SCHO's dividend yield for the trailing twelve months is around 3.90%, more than VGSH's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHO Schwab Short-Term U.S. Treasury ETF | 3.53% | 4.06% | 4.29% | 3.76% | 1.34% | 0.41% | 1.27% | 2.27% | 1.60% | 1.12% | 0.82% | 0.68% |
VGSH Vanguard Short-Term Treasury ETF | 3.50% | 4.00% | 4.18% | 3.31% | 1.15% | 0.66% | 1.74% | 2.28% | 1.79% | 1.10% | 0.84% | 0.69% |
Frequently Asked Questions
SCHO and VGSH have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHO has higher volatility (0.37%) compared to VGSH (0.36%). In terms of maximum drawdown, SCHO dropped -5.69% vs VGSH's -5.70%.
On 10-year performance, VGSH leads with 1.73% vs 1.72% for SCHO. Both ETFs have the same 0.03% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VGSH 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 VGSH have the same expense ratio: 0.03% per year.
SCHO has the higher dividend yield at 3.53%, compared with 3.50% for VGSH.
Both ETFs track Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: Charles Schwab and Vanguard.
VGSH currently has the higher Sharpe Ratio (2.35 vs 2.24), 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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