SCUS vs. CLIP

Last updated Jun 24, 2026

SCUS (Schwab Ultra-Short Income ETF) and CLIP (Global X 1-3 Month T-Bill ETF) are both Ultrashort Bond funds. SCUS is actively managed, while CLIP is passively managed. Over the past year, SCUS returned 4.00% vs 3.95% for CLIP. At a 0.19 correlation, their price movements are largely independent. SCUS charges 0.14%/yr vs 0.07%/yr for CLIP.

Performance

SCUS vs. CLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Ultra-Short Income ETF (SCUS) and Global X 1-3 Month T-Bill ETF (CLIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCUS achieves a 1.51% return, which is significantly lower than CLIP's 1.71% return.

SCUS

• 1D: 0.02%
• 1M: 0.20%
• YTD: 1.51%
• 6M: 1.61%
• 1Y: 4.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLIP

• 1D: 0.00%
• 1M: 0.29%
• YTD: 1.71%
• 6M: 1.80%
• 1Y: 3.95%
• 3Y*: 4.64%
• 5Y*: —
• 10Y*: —

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

SCUS vs. CLIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SCUS Schwab Ultra-Short Income ETF	1.51%	4.51%	2.00%
CLIP Global X 1-3 Month T-Bill ETF	1.71%	4.23%	1.95%

Correlation

The correlation between SCUS and CLIP is 0.09, 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	0.09
Correlation (All Time) Calculated using the full available price history since Aug 13, 2024	0.19

Return for Risk

SCUS vs. CLIP — Risk / Return Rank

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

SCUS

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

CLIP

CLIP Risk / Return Rank: 100
CLIP Sharpe Ratio Rank: 100
CLIP Sortino Ratio Rank: 100
CLIP Omega Ratio Rank: 100
CLIP Calmar Ratio Rank: 100
CLIP 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.

SCUS vs. CLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Ultra-Short Income ETF (SCUS) and Global X 1-3 Month T-Bill ETF (CLIP). 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.

	SCUS	CLIP	Difference
Sharpe ratio: Return per unit of total volatility	5.95	17.84	-11.89
Sortino ratio: Return per unit of downside risk	11.42	80.86	-69.44
Omega ratio: Gain probability vs. loss probability	2.61	26.35	-23.74
Calmar ratio: Return relative to maximum drawdown	24.13	141.67	-117.54
Martin ratio: Return relative to average drawdown	104.03	1,281.30	-1,177.26

SCUS vs. CLIP - Sharpe Ratio Comparison

The current SCUS Sharpe Ratio is 5.95, which is lower than the CLIP Sharpe Ratio of 17.84. The chart below compares the historical Sharpe Ratios of SCUS and CLIP, 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

SCUS vs. CLIP - Drawdown Comparison

The maximum SCUS drawdown since its inception was -0.17%, which is greater than CLIP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for SCUS and CLIP.

Drawdown Indicators

	SCUS	CLIP	Difference
Max Drawdown Largest peak-to-trough decline	-0.17%	-0.08%	-0.09%
Max Drawdown (1Y) Largest decline over 1 year	-0.17%	-0.03%	-0.14%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.08%	—
Current Drawdown Current decline from peak	-0.06%	0.00%	-0.06%
Average Drawdown Average peak-to-trough decline	-0.02%	-0.00%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.04%	0.00%	+0.04%

Volatility

SCUS vs. CLIP - Volatility Comparison

Schwab Ultra-Short Income ETF (SCUS) has a higher volatility of 0.22% compared to Global X 1-3 Month T-Bill ETF (CLIP) at 0.07%. This indicates that SCUS's price experiences larger fluctuations and is considered to be riskier than CLIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCUS	CLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.22%	0.07%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	0.50%	0.15%	+0.35%
Volatility (1Y) Calculated over the trailing 1-year period	0.68%	0.22%	+0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.71%	0.44%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.71%	0.44%	+0.27%

SCUS vs. CLIP - Expense Ratio Comparison

SCUS has a 0.14% expense ratio, which is higher than CLIP's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SCUS vs. CLIP - Dividend Comparison

SCUS's dividend yield for the trailing twelve months is around 3.91%, which matches CLIP's 3.90% yield.

Position	TTM	2025	2024	2023
CLIP Global X 1-3 Month T-Bill ETF	3.90%	4.14%	5.11%	2.75%
SCUS Schwab Ultra-Short Income ETF	3.91%	4.17%	1.62%	0.00%

Frequently Asked Questions

Can I hold both SCUS and CLIP in my portfolio?

SCUS and CLIP have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCUS or CLIP?

SCUS has higher volatility (0.22%) compared to CLIP (0.07%). In terms of maximum drawdown, SCUS dropped -0.17% vs CLIP's -0.08%.

Which ETF is better, SCUS or CLIP?

On 1-year performance, SCUS leads with 4.00% vs 3.95% for CLIP. On fees, CLIP is cheaper at 0.07% per year. On volatility, CLIP has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCUS or CLIP?

Over the 1-year period, SCUS has performed better with a 4.00% return vs 3.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCUS or CLIP?

CLIP is cheaper with a 0.07% expense ratio, compared with 0.14% for SCUS.

Which ETF pays a higher dividend yield, SCUS or CLIP?

SCUS has the higher dividend yield at 3.91%, compared with 3.90% for CLIP.

What is the main difference between SCUS and CLIP?

They also come from different issuers: Charles Schwab and Global X. Their fees differ too: 0.14% for SCUS and 0.07% for CLIP.

Which has better risk-adjusted returns?

CLIP currently has the higher Sharpe Ratio (17.84 vs 5.95), 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.