SCHO vs. XHLF
SCHO (Schwab Short-Term U.S. Treasury ETF) and XHLF (BondBloxx Bloomberg Six Month Target Duration US Treasury ETF) are both Government Bonds funds - SCHO tracks the Bloomberg U.S. Treasury 1-3 Year Index while XHLF tracks the Bloomberg US Treasury 6 Month Duration Index. Both are passively managed. Over the past 3 years, SCHO returned 4.16%/yr vs 4.61%/yr for XHLF. At a 0.37 correlation, their price movements are largely independent. Both charge a 0.03% expense ratio.
Performance
SCHO vs. XHLF - Performance Comparison
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Returns By Period
In the year-to-date period, SCHO achieves a 0.50% return, which is significantly lower than XHLF's 1.39% return.
SCHO
- 1D
- 0.08%
- 1M
- 0.10%
- YTD
- 0.50%
- 6M
- 0.90%
- 1Y
- 3.35%
- 3Y*
- 4.16%
- 5Y*
- 1.82%
- 10Y*
- 1.72%
XHLF
- 1D
- 0.00%
- 1M
- 0.25%
- YTD
- 1.39%
- 6M
- 1.69%
- 1Y
- 3.92%
- 3Y*
- 4.61%
- 5Y*
- —
- 10Y*
- —
SCHO vs. XHLF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SCHO Schwab Short-Term U.S. Treasury ETF | 0.50% | 5.49% | 3.65% | 4.31% | 0.18% |
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF | 1.39% | 4.21% | 5.04% | 4.90% | 0.96% |
Correlation
The correlation between SCHO and XHLF is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022 | 0.37 |
The correlation between SCHO and XHLF shifts across timeframes, from 0.20 (1 year) to 0.37 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SCHO vs. XHLF — Risk / Return Rank
SCHO
XHLF
SCHO vs. XHLF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Short-Term U.S. Treasury ETF (SCHO) and BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF). 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 | XHLF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.97 | ||
| Sortino ratioReturn per unit of downside risk | -41.83 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 11.75 | -10.25 |
| Calmar ratioReturn relative to maximum drawdown | 3.91 | 98.81 | -94.89 |
| Martin ratioReturn relative to average drawdown | 16.82 | 670.31 | -653.48 |
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 | XHLF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 12.43 | -9.97 |
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 | 10.74 | -9.74 |
Drawdowns
SCHO vs. XHLF - Drawdown Comparison
The maximum SCHO drawdown since its inception was -5.69%, which is greater than XHLF's maximum drawdown of -0.11%. Use the drawdown chart below to compare losses from any high point for SCHO and XHLF.
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Drawdown Indicators
| SCHO | XHLF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.69% | -0.11% | -5.58% |
Max Drawdown (1Y)Largest decline over 1 year | -0.86% | -0.04% | -0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -0.98% | -0.06% | -0.92% |
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 | -0.18% | 0.00% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -0.61% | -0.00% | -0.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 0.01% | +0.19% |
Volatility
SCHO vs. XHLF - Volatility Comparison
Schwab Short-Term U.S. Treasury ETF (SCHO) has a higher volatility of 0.42% compared to BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF) at 0.08%. This indicates that SCHO's price experiences larger fluctuations and is considered to be riskier than XHLF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHO | XHLF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.42% | 0.08% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 0.91% | 0.22% | +0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.37% | 0.32% | +1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.98% | 0.42% | +1.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.56% | 0.42% | +1.14% |
SCHO vs. XHLF - Expense Ratio Comparison
Both SCHO and XHLF 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. XHLF - Dividend Comparison
SCHO's dividend yield for the trailing twelve months is around 3.90%, more than XHLF'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 | 3.90% | 4.06% | 4.29% | 3.76% | 1.34% | 0.41% | 1.27% | 2.27% | 1.60% | 1.12% | 0.82% | 0.68% |
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF | 3.85% | 3.98% | 4.96% | 4.50% | 0.86% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SCHO and XHLF have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHO has higher volatility (0.42%) compared to XHLF (0.08%). In terms of maximum drawdown, SCHO dropped -5.69% vs XHLF's -0.11%.
On 3-year performance, XHLF leads with 4.61% vs 4.16% for SCHO. Both ETFs have the same 0.03% expense ratio. On volatility, XHLF has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XHLF has performed better with a 4.61% return vs 4.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHO and XHLF have the same expense ratio: 0.03% per year.
SCHO has the higher dividend yield at 3.90%, compared with 3.85% for XHLF.
SCHO tracks Bloomberg U.S. Treasury 1-3 Year Index, while XHLF tracks Bloomberg US Treasury 6 Month Duration Index. They also come from different issuers: Charles Schwab and BondBloxx.
XHLF currently has the higher Sharpe Ratio (12.43 vs 2.46), 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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