SPAB vs. SCHB
SPAB (SPDR Portfolio Aggregate Bond ETF) and SCHB (Schwab U.S. Broad Market ETF) are both exchange-traded funds - SPAB is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while SCHB is a Large Cap Blend Equities fund tracking the Dow Jones U.S. Broad Stock Market Index. Both are passively managed. Over the past 10 years, SPAB returned 1.54%/yr vs 15.01%/yr for SCHB. At a correlation of -0.09, they often move in opposite directions. Both charge a 0.03% expense ratio.
Performance
SPAB vs. SCHB - Performance Comparison
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Returns By Period
In the year-to-date period, SPAB achieves a 0.53% return, which is significantly lower than SCHB's 9.68% return. Over the past 10 years, SPAB has underperformed SCHB with an annualized return of 1.54%, while SCHB has yielded a comparatively higher 15.01% annualized return.
SPAB
- 1D
- -0.08%
- 1M
- 1.06%
- YTD
- 0.53%
- 6M
- 0.89%
- 1Y
- 4.87%
- 3Y*
- 4.18%
- 5Y*
- 0.04%
- 10Y*
- 1.54%
SCHB
- 1D
- 0.49%
- 1M
- 0.95%
- YTD
- 9.68%
- 6M
- 9.76%
- 1Y
- 26.16%
- 3Y*
- 20.63%
- 5Y*
- 12.26%
- 10Y*
- 15.01%
SPAB vs. SCHB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPAB SPDR Portfolio Aggregate Bond ETF | 0.53% | 7.25% | 1.25% | 5.56% | -13.04% | -1.77% | 7.39% | 8.67% | -0.18% | 3.71% |
SCHB Schwab U.S. Broad Market ETF | 9.68% | 16.94% | 23.93% | 26.16% | -19.46% | 25.84% | 20.76% | 30.79% | -5.43% | 21.20% |
Correlation
The correlation between SPAB and SCHB is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2009 | -0.09 |
The correlation between SPAB and SCHB shifts across timeframes, from -0.09 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPAB vs. SCHB — Risk / Return Rank
SPAB
SCHB
SPAB vs. SCHB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Aggregate Bond ETF (SPAB) and Schwab U.S. Broad Market ETF (SCHB). 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.
| SPAB | SCHB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.75 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.35 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 2.78 | -1.14 |
| Martin ratioReturn relative to average drawdown | 4.71 | 12.44 | -7.73 |
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Drawdowns
SPAB vs. SCHB - Drawdown Comparison
The maximum SPAB drawdown since its inception was -18.56%, smaller than the maximum SCHB drawdown of -35.27%. Use the drawdown chart below to compare losses from any high point for SPAB and SCHB.
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Drawdown Indicators
| SPAB | SCHB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.56% | -35.27% | +16.71% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -8.91% | +6.17% |
Max Drawdown (3Y)Largest decline over 3 years | -6.08% | -19.34% | +13.26% |
Max Drawdown (5Y)Largest decline over 5 years | -17.96% | -25.41% | +7.45% |
Max Drawdown (10Y)Largest decline over 10 years | -18.56% | -35.27% | +16.71% |
Current DrawdownCurrent decline from peak | -2.04% | -2.15% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -3.08% | -4.11% | +1.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 1.99% | -1.03% |
Volatility
SPAB vs. SCHB - Volatility Comparison
The current volatility for SPDR Portfolio Aggregate Bond ETF (SPAB) is 1.23%, while Schwab U.S. Broad Market ETF (SCHB) has a volatility of 4.60%. This indicates that SPAB experiences smaller price fluctuations and is considered to be less risky than SCHB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPAB | SCHB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 4.60% | -3.37% |
Volatility (6M)Calculated over the trailing 6-month period | 2.64% | 9.86% | -7.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.73% | 12.63% | -8.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 17.31% | -11.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.54% | 18.35% | -12.81% |
SPAB vs. SCHB - Expense Ratio Comparison
Both SPAB and SCHB have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SPAB vs. SCHB - Dividend Comparison
SPAB's dividend yield for the trailing twelve months is around 4.04%, more than SCHB's 1.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHB Schwab U.S. Broad Market ETF | 1.03% | 1.11% | 1.24% | 1.40% | 1.61% | 1.21% | 1.63% | 1.80% | 2.00% | 1.65% | 1.86% | 2.00% |
SPAB SPDR Portfolio Aggregate Bond ETF | 4.04% | 3.97% | 3.86% | 3.34% | 2.59% | 2.11% | 2.43% | 2.92% | 2.96% | 2.67% | 2.63% | 2.59% |
Frequently Asked Questions
SPAB and SCHB have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHB has higher volatility (4.60%) compared to SPAB (1.23%). In terms of maximum drawdown, SPAB dropped -18.56% vs SCHB's -35.27%.
On 10-year performance, SCHB leads with 15.01% vs 1.54% for SPAB. Both ETFs have the same 0.03% expense ratio. On volatility, SPAB has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHB has performed better with a 15.01% return vs 1.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPAB and SCHB have the same expense ratio: 0.03% per year.
SPAB has the higher dividend yield at 4.04%, compared with 1.03% for SCHB.
SPAB is categorized as Total Bond Market, while SCHB is Large Cap Blend Equities. SPAB tracks Bloomberg U.S. Aggregate Bond Index, while SCHB tracks Dow Jones U.S. Broad Stock Market Index. They also come from different issuers: State Street and Charles Schwab.
SCHB currently has the higher Sharpe Ratio (1.96 vs 1.21), 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.
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