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SCHZ vs. BTOT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SCHZ vs. BTOT

Last updated Jun 4, 2026

SCHZ (Schwab U.S. Aggregate Bond ETF) and BTOT (iShares Total USD Fixed Income Market ETF) are both Total Bond Market funds - SCHZ tracks the Bloomberg US Aggregate Bond Index while BTOT tracks the Bloomberg US Total Fixed Income Market Index. Both are passively managed. Their correlation of 0.95 suggests significant overlap in exposure. SCHZ charges 0.03%/yr vs 0.09%/yr for BTOT.

Performance

SCHZ vs. BTOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Aggregate Bond ETF (SCHZ) and iShares Total USD Fixed Income Market ETF (BTOT). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SCHZ achieves a 0.30% return, which is significantly lower than BTOT's 0.39% return.

SCHZ

1D
-0.17%
1M
0.26%
YTD
0.30%
6M
0.15%
1Y
5.16%
3Y*
3.94%
5Y*
0.07%
10Y*
1.52%

BTOT

1D
-0.21%
1M
0.29%
YTD
0.39%
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SCHZ vs. BTOT - Yearly Performance Comparison

2026 (YTD)2025
SCHZ
Schwab U.S. Aggregate Bond ETF		0.30%0.11%
BTOT
iShares Total USD Fixed Income Market ETF		0.39%0.31%

Correlation

The correlation between SCHZ and BTOT is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (All Time)
Calculated using the full available price history since Dec 12, 2025

0.95

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Schwab U.S. Aggregate Bond ETF

iShares Total USD Fixed Income Market ETF

Often compared with SCHZ:
SCHZ vs. BNDSCHZ vs. SCHPSCHZ vs. SWAGXSCHZ vs. SCHDSCHZ vs. AGGSCHZ vs. BONDSCHZ vs. SPAB
Often compared with BTOT:
BTOT vs. BNDBTOT vs. AGGBTOT vs. XAGG.TOBTOT vs. SPABBTOT vs. BKAGBTOT vs. TLTBTOT vs. IBIT

Return for Risk

SCHZ vs. BTOT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SCHZ
SCHZ Risk / Return Rank: 3737
Overall Rank
SCHZ Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
SCHZ Sortino Ratio Rank: 3939
Sortino Ratio Rank
SCHZ Omega Ratio Rank: 3535
Omega Ratio Rank
SCHZ Calmar Ratio Rank: 3838
Calmar Ratio Rank
SCHZ Martin Ratio Rank: 3737
Martin Ratio Rank
BTOT
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.

SCHZ vs. BTOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Aggregate Bond ETF (SCHZ) and iShares Total USD Fixed Income Market ETF (BTOT). 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.

SCHZBTOTDifference
Sharpe ratioReturn per unit of total volatility
1.37

—

—

Sortino ratioReturn per unit of downside risk
2.04

—

—

Omega ratioGain probability vs. loss probability

1.24

—

—

Calmar ratioReturn relative to maximum drawdown

1.92

—

—

Martin ratioReturn relative to average drawdown

5.87

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCHZ vs. BTOT - Sharpe Ratio Comparison

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Sharpe Ratios by Period

SCHZBTOTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.37

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.01

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.28

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.44

0.41

+0.03

Drawdowns

SCHZ vs. BTOT - Drawdown Comparison

The maximum SCHZ drawdown since its inception was -18.74%, which is greater than BTOT's maximum drawdown of -2.36%. Use the drawdown chart below to compare losses from any high point for SCHZ and BTOT.

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Drawdown Indicators

SCHZBTOTDifference

Max Drawdown

Largest peak-to-trough decline

-18.74%

-2.36%

-16.38%

Max Drawdown (1Y)

Largest decline over 1 year

-2.70%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-6.18%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-18.01%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-18.74%

—

—

Current Drawdown

Current decline from peak

-2.47%

-1.18%

-1.29%

Average Drawdown

Average peak-to-trough decline

-3.68%

-0.77%

-2.91%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.88%

—

—

Volatility

SCHZ vs. BTOT - Volatility Comparison

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Volatility by Period

SCHZBTOTDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.24%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

2.67%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

3.79%

3.70%

+0.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.08%

3.70%

+2.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.41%

3.70%

+1.71%

SCHZ vs. BTOT - Expense Ratio Comparison

SCHZ has a 0.03% expense ratio, which is lower than BTOT's 0.09% 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

SCHZ vs. BTOT - Dividend Comparison

SCHZ's dividend yield for the trailing twelve months is around 4.12%, more than BTOT's 2.13% yield.

PositionTTM20252024202320222021202020192018201720162015
BTOT
iShares Total USD Fixed Income Market ETF		2.13%0.22%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SCHZ
Schwab U.S. Aggregate Bond ETF		4.12%4.05%3.96%3.28%2.63%2.16%2.43%2.79%2.56%2.40%2.24%2.11%

Frequently Asked Questions

With a correlation of 0.95, SCHZ and BTOT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, SCHZ is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SCHZ is cheaper with a 0.03% expense ratio, compared with 0.09% for BTOT.

SCHZ has the higher dividend yield at 4.12%, compared with 2.13% for BTOT.

SCHZ tracks Bloomberg US Aggregate Bond Index, while BTOT tracks Bloomberg US Total Fixed Income Market Index. They also come from different issuers: Charles Schwab and iShares. Their fees differ too: 0.03% for SCHZ and 0.09% for BTOT.

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