SCHZ vs. GBF

Last updated Apr 2, 2026

Compare and contrast key facts about Schwab U.S. Aggregate Bond ETF (SCHZ) and iShares Government/Credit Bond ETF (GBF).

SCHZ and GBF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SCHZ is a passively managed fund by Charles Schwab that tracks the performance of the Bloomberg US Aggregate Bond Index. It was launched on Jul 14, 2011. GBF is a passively managed fund by iShares that tracks the performance of the Bloomberg U.S. Government/Credit Bond Index. It was launched on Jan 11, 2007. Both SCHZ and GBF are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SCHZ vs. GBF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Aggregate Bond ETF (SCHZ) and iShares Government/Credit Bond ETF (GBF). The values are adjusted to include any dividend payments, if applicable.

SCHZ vs. GBF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHZ Schwab U.S. Aggregate Bond ETF	0.13%	7.24%	1.26%	5.60%	-13.17%	-1.72%	7.46%	8.65%	-0.26%	3.50%
GBF iShares Government/Credit Bond ETF	0.09%	6.41%	0.99%	5.79%	-13.85%	-2.30%	8.76%	9.47%	-0.52%	4.10%

Returns By Period

In the year-to-date period, SCHZ achieves a 0.13% return, which is significantly higher than GBF's 0.09% return. Both investments have delivered pretty close results over the past 10 years, with SCHZ having a 1.62% annualized return and GBF not far behind at 1.58%.

SCHZ

• 1D: 0.08%
• 1M: -1.32%
• YTD: 0.13%
• 6M: 0.79%
• 1Y: 4.07%
• 3Y*: 3.59%
• 5Y*: 0.21%
• 10Y*: 1.62%

GBF

• 1D: -0.01%
• 1M: -1.35%
• YTD: 0.09%
• 6M: 0.44%
• 1Y: 3.51%
• 3Y*: 3.20%
• 5Y*: -0.04%
• 10Y*: 1.58%

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

SCHZ vs. GBF - Expense Ratio Comparison

SCHZ has a 0.03% expense ratio, which is lower than GBF's 0.20% 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%.

GBF

iShares Government/Credit Bond ETF

SCHZ

Schwab U.S. Aggregate Bond ETF

Return for Risk

SCHZ vs. GBF — Risk / Return Rank

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

SCHZ

SCHZ Risk / Return Rank: 52
SCHZ Sharpe Ratio Rank: 51
SCHZ Sortino Ratio Rank: 48
SCHZ Omega Ratio Rank: 41
SCHZ Calmar Ratio Rank: 68
SCHZ Martin Ratio Rank: 51

GBF

GBF Risk / Return Rank: 43
GBF Sharpe Ratio Rank: 43
GBF Sortino Ratio Rank: 40
GBF Omega Ratio Rank: 34
GBF Calmar Ratio Rank: 55
GBF Martin Ratio Rank: 42

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. GBF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Aggregate Bond ETF (SCHZ) and iShares Government/Credit Bond ETF (GBF). 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.

	SCHZ	GBF	Difference
Sharpe ratio Return per unit of total volatility	0.96	0.83	+0.12
Sortino ratio Return per unit of downside risk	1.36	1.19	+0.16
Omega ratio Gain probability vs. loss probability	1.17	1.15	+0.02
Calmar ratio Return relative to maximum drawdown	1.79	1.53	+0.26
Martin ratio Return relative to average drawdown	5.11	4.29	+0.82
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. GBF - Sharpe Ratio Comparison

The current SCHZ Sharpe Ratio is 0.96, which is comparable to the GBF Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of SCHZ and GBF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SCHZ	GBF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.96	0.83	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	-0.01	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	0.30	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.58	-0.14

Correlation

The correlation between SCHZ and GBF is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SCHZ vs. GBF - Dividend Comparison

SCHZ's dividend yield for the trailing twelve months is around 4.10%, more than GBF's 3.77% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHZ Schwab U.S. Aggregate Bond ETF	4.10%	4.05%	3.96%	3.28%	2.63%	2.16%	2.43%	2.79%	2.56%	2.40%	2.24%	2.11%
GBF iShares Government/Credit Bond ETF	3.77%	3.81%	3.94%	3.03%	2.13%	1.22%	1.64%	2.64%	2.59%	2.31%	2.09%	2.04%

Drawdowns

SCHZ vs. GBF - Drawdown Comparison

The maximum SCHZ drawdown since its inception was -18.74%, roughly equal to the maximum GBF drawdown of -19.67%. Use the drawdown chart below to compare losses from any high point for SCHZ and GBF.

Drawdown Indicators

	SCHZ	GBF	Difference
Max Drawdown Largest peak-to-trough decline	-18.74%	-19.67%	+0.93%
Max Drawdown (1Y) Largest decline over 1 year	-2.51%	-2.50%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	-18.01%	-18.45%	+0.44%
Max Drawdown (10Y) Largest decline over 10 years	-18.74%	-19.67%	+0.93%
Current Drawdown Current decline from peak	-2.63%	-4.96%	+2.33%
Average Drawdown Average peak-to-trough decline	-3.70%	-3.66%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	0.89%	-0.01%

Volatility

SCHZ vs. GBF - Volatility Comparison

Schwab U.S. Aggregate Bond ETF (SCHZ) and iShares Government/Credit Bond ETF (GBF) have volatilities of 1.66% and 1.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHZ	GBF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	1.64%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.50%	2.53%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	4.29%	4.23%	+0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.06%	5.92%	+0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.40%	5.27%	+0.13%