SCMB vs. TBIL
Compare and contrast key facts about Schwab Municipal Bond ETF (SCMB) and US Treasury 3 Month Bill ETF (TBIL).
SCMB and TBIL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SCMB is a passively managed fund by Schwab that tracks the performance of the ICE AMT-Free Core U.S. National Municipal Index - Benchmark TR Gross. It was launched on Oct 11, 2022. TBIL is a passively managed fund by US Benchmark Series that tracks the performance of the ICE BofA US Treasury Bill 3 Month Index. It was launched on Aug 8, 2022. Both SCMB and TBIL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SCMB or TBIL.
Key characteristics
| SCMB | TBIL | |
|---|---|---|
| YTD Return | 2.55% | 4.73% |
| 1Y Return | 8.27% | 5.47% |
| Sharpe Ratio | 1.99 | 14.58 |
| Sortino Ratio | 2.89 | 79.35 |
| Omega Ratio | 1.40 | 24.15 |
| Calmar Ratio | 3.12 | 271.14 |
| Martin Ratio | 10.69 | 1,240.29 |
| Ulcer Index | 0.77% | 0.00% |
| Daily Std Dev | 4.15% | 0.38% |
| Max Drawdown | -5.62% | -0.10% |
| Current Drawdown | -1.43% | 0.00% |
Correlation
The correlation between SCMB and TBIL is 0.14, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
SCMB vs. TBIL - Performance Comparison
In the year-to-date period, SCMB achieves a 2.55% return, which is significantly lower than TBIL's 4.73% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SCMB vs. TBIL - Expense Ratio Comparison
SCMB has a 0.03% expense ratio, which is lower than TBIL's 0.15% 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%.
Risk-Adjusted Performance
SCMB vs. TBIL - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Municipal Bond ETF (SCMB) and US Treasury 3 Month Bill ETF (TBIL). 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.
Dividends
SCMB vs. TBIL - Dividend Comparison
SCMB's dividend yield for the trailing twelve months is around 4.44%, less than TBIL's 5.38% yield.
| TTM | 2023 | 2022 | |
|---|---|---|---|
SCMB Schwab Municipal Bond ETF | 4.44% | 4.88% | 0.80% |
TBIL US Treasury 3 Month Bill ETF | 5.38% | 5.00% | 1.10% |
Drawdowns
SCMB vs. TBIL - Drawdown Comparison
The maximum SCMB drawdown since its inception was -5.62%, which is greater than TBIL's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for SCMB and TBIL. For additional features, visit the drawdowns tool.
Volatility
SCMB vs. TBIL - Volatility Comparison
Schwab Municipal Bond ETF (SCMB) has a higher volatility of 2.02% compared to US Treasury 3 Month Bill ETF (TBIL) at 0.09%. This indicates that SCMB's price experiences larger fluctuations and is considered to be riskier than TBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.