SPTB vs. SCHO
Compare and contrast key facts about State Street SPDR Portfolio Treasury ETF (SPTB) and Schwab Short-Term U.S. Treasury ETF (SCHO).
SPTB and SCHO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPTB is a passively managed fund by State Street that tracks the performance of the Bloomberg U.S. Treasury Index. It was launched on May 20, 2024. SCHO is a passively managed fund by Charles Schwab that tracks the performance of the Bloomberg U.S. Treasury 1-3 Year Index. It was launched on Aug 5, 2010. Both SPTB and SCHO 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
SPTB vs. SCHO - Performance Comparison
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SPTB vs. SCHO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPTB State Street SPDR Portfolio Treasury ETF | 0.07% | 6.14% | 2.17% |
SCHO Schwab Short-Term U.S. Treasury ETF | 0.26% | 5.49% | 3.11% |
Returns By Period
In the year-to-date period, SPTB achieves a 0.07% return, which is significantly lower than SCHO's 0.26% return.
SPTB
- 1D
- -0.05%
- 1M
- -1.36%
- YTD
- 0.07%
- 6M
- 0.58%
- 1Y
- 2.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SCHO
- 1D
- 0.02%
- 1M
- -0.31%
- YTD
- 0.26%
- 6M
- 1.27%
- 1Y
- 3.69%
- 3Y*
- 4.00%
- 5Y*
- 1.79%
- 10Y*
- 1.72%
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SPTB vs. SCHO - Expense Ratio Comparison
Both SPTB and SCHO 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%.
Return for Risk
SPTB vs. SCHO — Risk / Return Rank
SPTB
SCHO
SPTB vs. SCHO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio Treasury ETF (SPTB) and Schwab Short-Term U.S. Treasury ETF (SCHO). 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.
| SPTB | SCHO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.72 | 2.44 | -1.71 |
Sortino ratioReturn per unit of downside risk | 1.07 | 3.92 | -2.85 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.50 | -0.37 |
Calmar ratioReturn relative to maximum drawdown | 1.21 | 4.42 | -3.21 |
Martin ratioReturn relative to average drawdown | 3.09 | 17.32 | -14.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPTB | SCHO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 2.44 | -1.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.92 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.01 | 1.00 | +0.01 |
Correlation
The correlation between SPTB and SCHO is 0.76, 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
SPTB vs. SCHO - Dividend Comparison
SPTB's dividend yield for the trailing twelve months is around 4.21%, more than SCHO's 3.98% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPTB State Street SPDR Portfolio Treasury ETF | 4.21% | 4.23% | 2.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SCHO Schwab Short-Term U.S. Treasury ETF | 3.98% | 4.06% | 4.29% | 3.76% | 1.34% | 0.41% | 1.27% | 2.27% | 1.60% | 1.12% | 0.82% | 0.68% |
Drawdowns
SPTB vs. SCHO - Drawdown Comparison
The maximum SPTB drawdown since its inception was -4.96%, smaller than the maximum SCHO drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for SPTB and SCHO.
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Drawdown Indicators
| SPTB | SCHO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.96% | -5.69% | +0.73% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -0.86% | -1.81% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.69% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.69% | — |
Current DrawdownCurrent decline from peak | -1.80% | -0.43% | -1.37% |
Average DrawdownAverage peak-to-trough decline | -1.28% | -0.61% | -0.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.22% | +0.82% |
Volatility
SPTB vs. SCHO - Volatility Comparison
State Street SPDR Portfolio Treasury ETF (SPTB) has a higher volatility of 1.44% compared to Schwab Short-Term U.S. Treasury ETF (SCHO) at 0.52%. This indicates that SPTB's price experiences larger fluctuations and is considered to be riskier than SCHO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPTB | SCHO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 0.52% | +0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 2.44% | 0.87% | +1.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 1.52% | +2.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.50% | 1.97% | +2.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.50% | 1.55% | +2.95% |