SCHQ vs. SCHA
SCHQ (Schwab Long-Term U.S. Treasury ETF) and SCHA (Schwab U.S. Small-Cap ETF) are both exchange-traded funds - SCHQ is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index, while SCHA is a Small Cap Blend Equities fund tracking the Dow Jones U.S. Small-Cap Total Stock Market Index. Both are passively managed. Over the past 5 years, SCHQ returned -7.19%/yr vs 7.93%/yr for SCHA. Their -0.03 correlation means they have often moved in opposite directions in the past. SCHQ charges 0.03%/yr vs 0.04%/yr for SCHA.
Performance
SCHQ vs. SCHA - Performance Comparison
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Returns By Period
In the year-to-date period, SCHQ achieves a -2.90% return, which is significantly lower than SCHA's 20.52% return.
SCHQ
- 1D
- 0.36%
- 1M
- -3.17%
- 6M
- -2.56%
- YTD
- -2.90%
- 1Y
- -1.33%
- 3Y*
- -0.04%
- 5Y*
- -7.19%
- 10Y*
- —
- ALL TIME*
- -4.12%
SCHA
- 1D
- 1.85%
- 1M
- -2.12%
- 6M
- 12.87%
- YTD
- 20.52%
- 1Y
- 36.77%
- 3Y*
- 16.44%
- 5Y*
- 7.93%
- 10Y*
- 10.63%
- ALL TIME*
- 12.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $71.21M | $80.95M | $78.39M | |
| $13.53M | $14.79M | $18.63M |
SCHQ vs. SCHA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SCHQ Schwab Long-Term U.S. Treasury ETF | -2.90% | 5.50% | -6.44% | 3.43% | -29.44% | -4.86% | 17.73% | -4.20% |
SCHA Schwab U.S. Small-Cap ETF | 20.52% | 11.60% | 11.16% | 18.46% | -19.81% | 16.45% | 19.34% | 12.46% |
Correlation
The correlation between SCHQ and SCHA is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (3Y) Balances recent behavior with more history. | 0.21 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019 | -0.03 |
The correlation between SCHQ and SCHA shifts across timeframes, from -0.03 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SCHQ vs. SCHA — Risk / Return Rank
SCHQ
SCHA
SCHQ vs. SCHA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Long-Term U.S. Treasury ETF (SCHQ) and Schwab U.S. Small-Cap ETF (SCHA). 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.
| SCHQ | SCHA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.08 | ||
| Sortino ratioReturn per unit of downside risk | -2.92 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.32 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | 3.89 | -4.08 |
| Martin ratioReturn relative to average drawdown | -0.41 | 12.34 | -12.75 |
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Drawdowns
SCHQ vs. SCHA - Drawdown Comparison
The maximum SCHQ drawdown since its inception was -46.13%, which is greater than SCHA's maximum drawdown of -42.41%. Use the drawdown chart below to compare losses from any high point for SCHQ and SCHA.
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Drawdown Indicators
| SCHQ | SCHA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.13% | -42.41% | -3.72% |
Max Drawdown (1Y)Largest decline over 1 year | -7.05% | -9.50% | +2.45% |
Max Drawdown (3Y)Largest decline over 3 years | -13.38% | -27.29% | +13.91% |
Max Drawdown (5Y)Largest decline over 5 years | -40.93% | -30.79% | -10.14% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.41% | — |
Current DrawdownCurrent decline from peak | -38.39% | -5.40% | -32.99% |
Average DrawdownAverage peak-to-trough decline | -26.61% | -7.54% | -19.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 2.99% | +0.24% |
Volatility
SCHQ vs. SCHA - Volatility Comparison
The current volatility for Schwab Long-Term U.S. Treasury ETF (SCHQ) is 2.30%, while Schwab U.S. Small-Cap ETF (SCHA) has a volatility of 5.82%. This indicates that SCHQ experiences smaller price fluctuations and is considered to be less risky than SCHA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHQ | SCHA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.30% | 5.82% | -3.52% |
Volatility (6M)Calculated over the trailing 6-month period | 6.30% | 14.75% | -8.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.41% | 19.27% | -10.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.41% | 22.08% | -7.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.20% | 22.78% | -7.58% |
SCHQ vs. SCHA - Expense Ratio Comparison
SCHQ has a 0.03% expense ratio, which is lower than SCHA's 0.04% 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
SCHQ vs. SCHA - Dividend Comparison
SCHQ's dividend yield for the trailing twelve months is around 4.92%, more than SCHA's 1.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHA Schwab U.S. Small-Cap ETF | 1.05% | 1.26% | 1.51% | 1.42% | 1.37% | 1.19% | 1.05% | 1.39% | 1.58% | 1.24% | 1.50% | 1.48% |
SCHQ Schwab Long-Term U.S. Treasury ETF | 4.92% | 4.54% | 4.58% | 3.79% | 2.88% | 1.69% | 1.51% | 0.44% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SCHQ and SCHA have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHA has higher volatility (5.82%) compared to SCHQ (2.30%). In terms of maximum drawdown, SCHQ dropped -46.13% vs SCHA's -42.41%.
On 5-year performance, SCHA leads with 7.93% vs -7.19% for SCHQ. On fees, SCHQ is cheaper at 0.03% per year. On volatility, SCHQ has been the lower-risk option at 2.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SCHA has performed better with a 7.93% return vs -7.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHQ is cheaper with a 0.03% expense ratio, compared with 0.04% for SCHA.
SCHQ has the higher dividend yield at 4.92%, compared with 1.05% for SCHA.
SCHQ is categorized as Government Bonds, while SCHA is Small Cap Blend Equities. SCHQ tracks Bloomberg U.S. Long Treasury Index, while SCHA tracks Dow Jones U.S. Small-Cap Total Stock Market Index. Their fees differ too: 0.03% for SCHQ and 0.04% for SCHA.
SCHA currently has the higher Sharpe Ratio (1.92 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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