SPLB vs. SCHI
SPLB (SPDR Portfolio Long Term Corporate Bond ETF) and SCHI (Schwab 5-10 Year Corporate Bond ETF) are both Corporate Bonds funds - SPLB tracks the Bloomberg Barclays Long U.S. Corporate Index while SCHI tracks the Bloomberg US 5-10 Year Corporate Bond Index. Both are passively managed. Over the past 5 years, SPLB returned -2.22%/yr vs 1.19%/yr for SCHI. Their correlation of 0.90 suggests significant overlap in exposure. SPLB charges 0.07%/yr vs 0.03%/yr for SCHI.
Performance
SPLB vs. SCHI - Performance Comparison
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Returns By Period
In the year-to-date period, SPLB achieves a 1.51% return, which is significantly higher than SCHI's 0.37% return.
SPLB
- 1D
- 0.22%
- 1M
- 1.59%
- YTD
- 1.51%
- 6M
- 1.33%
- 1Y
- 6.39%
- 3Y*
- 4.20%
- 5Y*
- -2.22%
- 10Y*
- 2.21%
SCHI
- 1D
- 0.13%
- 1M
- 0.68%
- YTD
- 0.37%
- 6M
- 0.50%
- 1Y
- 5.29%
- 3Y*
- 6.15%
- 5Y*
- 1.19%
- 10Y*
- —
SPLB vs. SCHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 1.51% | 7.05% | -1.74% | 11.20% | -25.68% | -1.99% | 13.47% | 1.23% |
SCHI Schwab 5-10 Year Corporate Bond ETF | 0.37% | 9.47% | 3.32% | 8.97% | -14.06% | -1.85% | 9.74% | 0.83% |
Correlation
The correlation between SPLB and SCHI is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019 | 0.90 |
The correlation between SPLB and SCHI has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
SPLB vs. SCHI — Risk / Return Rank
SPLB
SCHI
SPLB vs. SCHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Corporate Bond ETF (SPLB) and Schwab 5-10 Year Corporate Bond ETF (SCHI). 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.
| SPLB | SCHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.23 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | 1.76 | -0.58 |
| Martin ratioReturn relative to average drawdown | 2.88 | 5.66 | -2.78 |
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Drawdowns
SPLB vs. SCHI - Drawdown Comparison
The maximum SPLB drawdown since its inception was -34.46%, which is greater than SCHI's maximum drawdown of -20.67%. Use the drawdown chart below to compare losses from any high point for SPLB and SCHI.
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Drawdown Indicators
| SPLB | SCHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.46% | -20.67% | -13.79% |
Max Drawdown (1Y)Largest decline over 1 year | -5.42% | -3.01% | -2.41% |
Max Drawdown (3Y)Largest decline over 3 years | -12.91% | -6.14% | -6.77% |
Max Drawdown (5Y)Largest decline over 5 years | -34.46% | -20.67% | -13.79% |
Max Drawdown (10Y)Largest decline over 10 years | -34.46% | — | — |
Current DrawdownCurrent decline from peak | -14.04% | -1.19% | -12.85% |
Average DrawdownAverage peak-to-trough decline | -8.02% | -5.68% | -2.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.22% | 0.94% | +1.28% |
Volatility
SPLB vs. SCHI - Volatility Comparison
SPDR Portfolio Long Term Corporate Bond ETF (SPLB) has a higher volatility of 1.92% compared to Schwab 5-10 Year Corporate Bond ETF (SCHI) at 1.25%. This indicates that SPLB's price experiences larger fluctuations and is considered to be riskier than SCHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPLB | SCHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.92% | 1.25% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 5.90% | 3.20% | +2.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.94% | 4.14% | +3.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.69% | 6.67% | +6.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.96% | 7.38% | +5.58% |
SPLB vs. SCHI - Expense Ratio Comparison
SPLB has a 0.07% expense ratio, which is higher than SCHI's 0.03% 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
SPLB vs. SCHI - Dividend Comparison
SPLB's dividend yield for the trailing twelve months is around 5.34%, more than SCHI's 5.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHI Schwab 5-10 Year Corporate Bond ETF | 5.04% | 4.99% | 5.11% | 4.27% | 3.10% | 1.93% | 2.31% | 0.53% | 0.00% | 0.00% | 0.00% | 0.00% |
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 5.34% | 5.25% | 5.20% | 4.60% | 4.53% | 3.00% | 3.01% | 3.79% | 4.50% | 4.06% | 4.34% | 4.70% |
Frequently Asked Questions
With a correlation of 0.93, SPLB and SCHI 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.
SPLB has higher volatility (1.92%) compared to SCHI (1.25%). In terms of maximum drawdown, SPLB dropped -34.46% vs SCHI's -20.67%.
On 5-year performance, SCHI leads with 1.19% vs -2.22% for SPLB. On fees, SCHI is cheaper at 0.03% per year. On volatility, SCHI has been the lower-risk option at 1.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SCHI has performed better with a 1.19% return vs -2.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHI is cheaper with a 0.03% expense ratio, compared with 0.07% for SPLB.
SPLB has the higher dividend yield at 5.34%, compared with 5.04% for SCHI.
SPLB tracks Bloomberg Barclays Long U.S. Corporate Index, while SCHI tracks Bloomberg US 5-10 Year Corporate Bond Index. They also come from different issuers: State Street and Charles Schwab. Their fees differ too: 0.07% for SPLB and 0.03% for SCHI.
SCHI currently has the higher Sharpe Ratio (1.29 vs 0.81), 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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