SCHR vs. BIL
SCHR (Schwab Intermediate-Term U.S. Treasury ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both Government Bonds funds - SCHR tracks the Bloomberg US Treasury 3-10 Year Index while BIL tracks the Bloomberg 1-3 Month U.S. Treasury Bill Index. Both are passively managed. Over the past 10 years, SCHR returned 1.23%/yr vs 2.18%/yr for BIL. At a 0.02 correlation, their price movements are largely independent. SCHR charges 0.05%/yr vs 0.14%/yr for BIL.
Performance
SCHR vs. BIL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SCHR achieves a -0.43% return, which is significantly lower than BIL's 1.49% return. Over the past 10 years, SCHR has underperformed BIL with an annualized return of 1.23%, while BIL has yielded a comparatively higher 2.18% annualized return.
SCHR
- 1D
- -0.16%
- 1M
- -0.15%
- YTD
- -0.43%
- 6M
- -0.59%
- 1Y
- 3.55%
- 3Y*
- 3.41%
- 5Y*
- 0.05%
- 10Y*
- 1.23%
BIL
- 1D
- 0.02%
- 1M
- 0.28%
- YTD
- 1.49%
- 6M
- 1.77%
- 1Y
- 3.87%
- 3Y*
- 4.64%
- 5Y*
- 3.41%
- 10Y*
- 2.18%
SCHR vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCHR Schwab Intermediate-Term U.S. Treasury ETF | -0.43% | 7.33% | 1.42% | 4.27% | -10.58% | -2.62% | 7.72% | 6.18% | 1.46% | 1.59% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.49% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
Correlation
The correlation between SCHR and BIL is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Aug 6, 2010 | 0.02 |
The correlation between SCHR and BIL shifts across timeframes, from -0.12 (1 year) to 0.05 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SCHR vs. BIL — Risk / Return Rank
SCHR
BIL
SCHR vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Intermediate-Term U.S. Treasury ETF (SCHR) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). 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.
| SCHR | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.67 | ||
| Sortino ratioReturn per unit of downside risk | -172.59 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 87.91 | -86.73 |
| Calmar ratioReturn relative to maximum drawdown | 1.27 | 355.35 | -354.08 |
| Martin ratioReturn relative to average drawdown | 3.82 | 2,817.77 | -2,813.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SCHR | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | 19.71 | -18.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 13.16 | -13.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 8.52 | -8.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 2.78 | -2.33 |
Drawdowns
SCHR vs. BIL - Drawdown Comparison
The maximum SCHR drawdown since its inception was -16.11%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for SCHR and BIL.
Loading charts...
Drawdown Indicators
| SCHR | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.11% | -0.78% | -15.33% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -0.01% | -2.78% |
Max Drawdown (3Y)Largest decline over 3 years | -4.35% | -0.01% | -4.34% |
Max Drawdown (5Y)Largest decline over 5 years | -15.07% | -0.10% | -14.97% |
Max Drawdown (10Y)Largest decline over 10 years | -16.11% | -0.21% | -15.90% |
Current DrawdownCurrent decline from peak | -2.37% | 0.00% | -2.37% |
Average DrawdownAverage peak-to-trough decline | -3.64% | -0.26% | -3.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 0.00% | +0.93% |
Volatility
SCHR vs. BIL - Volatility Comparison
Schwab Intermediate-Term U.S. Treasury ETF (SCHR) has a higher volatility of 1.08% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that SCHR's price experiences larger fluctuations and is considered to be riskier than BIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SCHR | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.08% | 0.05% | +1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.35% | 0.13% | +2.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.43% | 0.20% | +3.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.38% | 0.26% | +5.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.47% | 0.26% | +4.21% |
SCHR vs. BIL - Expense Ratio Comparison
SCHR has a 0.05% expense ratio, which is lower than BIL's 0.14% 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
SCHR vs. BIL - Dividend Comparison
SCHR's dividend yield for the trailing twelve months is around 3.92%, more than BIL's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 3.86% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% | 0.00% |
SCHR Schwab Intermediate-Term U.S. Treasury ETF | 3.92% | 3.85% | 3.77% | 3.16% | 2.02% | 1.00% | 1.62% | 2.31% | 2.11% | 1.65% | 1.45% | 1.56% |
Frequently Asked Questions
SCHR and BIL have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHR has higher volatility (1.08%) compared to BIL (0.05%). In terms of maximum drawdown, SCHR dropped -16.11% vs BIL's -0.78%.
On 10-year performance, BIL leads with 2.18% vs 1.23% for SCHR. On fees, SCHR is cheaper at 0.05% per year. On volatility, BIL has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BIL has performed better with a 2.18% return vs 1.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHR is cheaper with a 0.05% expense ratio, compared with 0.14% for BIL.
SCHR has the higher dividend yield at 3.92%, compared with 3.86% for BIL.
SCHR tracks Bloomberg US Treasury 3-10 Year Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: Charles Schwab and State Street. Their fees differ too: 0.05% for SCHR and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.71 vs 1.04), 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.
Find the right allocation for SCHR and BIL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer