SCHQ vs. XHLF

Last updated Jun 24, 2026

SCHQ (Schwab Long-Term U.S. Treasury ETF) and XHLF (BondBloxx Bloomberg Six Month Target Duration US Treasury ETF) are both Government Bonds funds - SCHQ tracks the Bloomberg U.S. Long Treasury Index while XHLF tracks the Bloomberg US Treasury 6 Month Duration Index. Both are passively managed. Over the past 3 years, SCHQ returned -0.70%/yr vs 4.58%/yr for XHLF. At a 0.20 correlation, their price movements are largely independent. Both charge a 0.03% expense ratio.

Performance

SCHQ vs. XHLF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Long-Term U.S. Treasury ETF (SCHQ) and BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHQ achieves a 0.57% return, which is significantly lower than XHLF's 1.56% return.

SCHQ

• 1D: 0.19%
• 1M: 2.15%
• YTD: 0.57%
• 6M: 0.44%
• 1Y: 4.14%
• 3Y*: -0.70%
• 5Y*: -5.55%
• 10Y*: —

XHLF

• 1D: 0.04%
• 1M: 0.24%
• YTD: 1.56%
• 6M: 1.65%
• 1Y: 3.82%
• 3Y*: 4.58%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SCHQ vs. XHLF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SCHQ Schwab Long-Term U.S. Treasury ETF	0.57%	5.50%	-6.44%	3.43%	-6.17%
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF	1.56%	4.21%	5.04%	4.90%	0.89%

Correlation

The correlation between SCHQ and XHLF is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (All Time) Calculated using the full available price history since Sep 15, 2022	0.20

The correlation between SCHQ and XHLF shifts across timeframes, from 0.00 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SCHQ vs. XHLF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SCHQ

SCHQ Risk / Return Rank: 15
SCHQ Sharpe Ratio Rank: 16
SCHQ Sortino Ratio Rank: 15
SCHQ Omega Ratio Rank: 14
SCHQ Calmar Ratio Rank: 16
SCHQ Martin Ratio Rank: 16

XHLF

XHLF Risk / Return Rank: 100
XHLF Sharpe Ratio Rank: 100
XHLF Sortino Ratio Rank: 100
XHLF Omega Ratio Rank: 99
XHLF Calmar Ratio Rank: 100
XHLF Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SCHQ vs. XHLF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Long-Term U.S. Treasury ETF (SCHQ) 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.

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	XHLF	Difference
Sharpe ratio: Return per unit of total volatility	0.48	12.04	-11.56
Sortino ratio: Return per unit of downside risk	0.75	43.57	-42.82
Omega ratio: Gain probability vs. loss probability	1.09	10.94	-9.86
Calmar ratio: Return relative to maximum drawdown	0.59	96.46	-95.87
Martin ratio: Return relative to average drawdown	1.46	639.88	-638.42

SCHQ vs. XHLF - Sharpe Ratio Comparison

The current SCHQ Sharpe Ratio is 0.48, which is lower than the XHLF Sharpe Ratio of 12.04. The chart below compares the historical Sharpe Ratios of SCHQ and XHLF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SCHQ vs. XHLF - Drawdown Comparison

The maximum SCHQ drawdown since its inception was -46.13%, which is greater than XHLF's maximum drawdown of -0.11%. Use the drawdown chart below to compare losses from any high point for SCHQ and XHLF.

Drawdown Indicators

	SCHQ	XHLF	Difference
Max Drawdown Largest peak-to-trough decline	-46.13%	-0.11%	-46.02%
Max Drawdown (1Y) Largest decline over 1 year	-7.01%	-0.04%	-6.97%
Max Drawdown (3Y) Largest decline over 3 years	-17.65%	-0.06%	-17.59%
Max Drawdown (5Y) Largest decline over 5 years	-40.93%	—	—
Current Drawdown Current decline from peak	-36.18%	0.00%	-36.18%
Average Drawdown Average peak-to-trough decline	-26.43%	-0.01%	-26.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	0.01%	+2.83%

Volatility

SCHQ vs. XHLF - Volatility Comparison

Schwab Long-Term U.S. Treasury ETF (SCHQ) has a higher volatility of 2.07% compared to BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF) at 0.09%. This indicates that SCHQ'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.

Volatility by Period

	SCHQ	XHLF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.07%	0.09%	+1.98%
Volatility (6M) Calculated over the trailing 6-month period	6.07%	0.22%	+5.85%
Volatility (1Y) Calculated over the trailing 1-year period	8.65%	0.32%	+8.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.49%	0.42%	+14.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.29%	0.42%	+14.87%

SCHQ vs. XHLF - Expense Ratio Comparison

Both SCHQ 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

SCHQ vs. XHLF - Dividend Comparison

SCHQ's dividend yield for the trailing twelve months is around 4.74%, more than XHLF's 3.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
SCHQ Schwab Long-Term U.S. Treasury ETF	4.74%	4.54%	4.58%	3.79%	2.88%	1.69%	1.51%	0.44%
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF	3.84%	3.98%	4.96%	4.50%	0.86%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SCHQ and XHLF in my portfolio?

SCHQ and XHLF have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHQ or XHLF?

SCHQ has higher volatility (2.07%) compared to XHLF (0.09%). In terms of maximum drawdown, SCHQ dropped -46.13% vs XHLF's -0.11%.

Which ETF is better, SCHQ or XHLF?

On 3-year performance, XHLF leads with 4.58% vs -0.70% for SCHQ. Both ETFs have the same 0.03% expense ratio. On volatility, XHLF has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHQ or XHLF?

Over the 3-year period, XHLF has performed better with a 4.58% return vs -0.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHQ or XHLF?

SCHQ and XHLF have the same expense ratio: 0.03% per year.

Which ETF pays a higher dividend yield, SCHQ or XHLF?

SCHQ has the higher dividend yield at 4.74%, compared with 3.84% for XHLF.

What is the main difference between SCHQ and XHLF?

SCHQ tracks Bloomberg U.S. Long Treasury Index, while XHLF tracks Bloomberg US Treasury 6 Month Duration Index. They also come from different issuers: Charles Schwab and BondBloxx.

Which has better risk-adjusted returns?

XHLF currently has the higher Sharpe Ratio (12.04 vs 0.48), 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.