SPTL vs. SCHR
SPTL (SPDR Portfolio Long Term Treasury ETF) and SCHR (Schwab Intermediate-Term U.S. Treasury ETF) are both Government Bonds funds - SPTL tracks the Bloomberg Long U.S. Treasury Index while SCHR tracks the Bloomberg US Treasury 3-10 Year Index. Both are passively managed. Over the past 10 years, SPTL returned -1.81%/yr vs 1.08%/yr for SCHR. Their correlation of 0.85 means they have usually moved in the same direction. SPTL charges 0.03%/yr vs 0.05%/yr for SCHR.
Performance
SPTL vs. SCHR - Performance Comparison
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Returns By Period
In the year-to-date period, SPTL achieves a -3.28% return, which is significantly lower than SCHR's -0.76% return. Over the past 10 years, SPTL has underperformed SCHR with an annualized return of -1.81%, while SCHR has yielded a comparatively higher 1.08% annualized return.
SPTL
- 1D
- -0.67%
- 1M
- -3.50%
- 6M
- -3.17%
- YTD
- -3.28%
- 1Y
- -1.73%
- 3Y*
- -0.59%
- 5Y*
- -7.09%
- 10Y*
- -1.81%
- ALL TIME*
- 3.09%
SCHR
- 1D
- -0.20%
- 1M
- -0.73%
- 6M
- -0.72%
- YTD
- -0.76%
- 1Y
- 1.17%
- 3Y*
- 3.74%
- 5Y*
- -0.25%
- 10Y*
- 1.08%
- ALL TIME*
- 1.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $55.30M | $60.69M | $73.53M | |
| $141.08M | $126.11M | $146.73M |
SPTL vs. SCHR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPTL SPDR Portfolio Long Term Treasury ETF | -3.28% | 5.28% | -6.23% | 3.30% | -29.44% | -4.99% | 18.07% | 13.74% | -1.57% | 9.01% |
SCHR Schwab Intermediate-Term U.S. Treasury ETF | -0.76% | 7.33% | 1.42% | 4.27% | -10.58% | -2.62% | 7.72% | 6.18% | 1.46% | 1.59% |
Correlation
The correlation between SPTL and SCHR is 0.83, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.83 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.87 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.86 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2010 | 0.85 |
The correlation between SPTL and SCHR has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.
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Return for Risk
SPTL vs. SCHR — Risk / Return Rank
SPTL
SCHR
SPTL vs. SCHR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Treasury ETF (SPTL) and Schwab Intermediate-Term U.S. Treasury ETF (SCHR). 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.
| SPTL | SCHR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.11 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | 0.77 | -0.83 |
| Martin ratioReturn relative to average drawdown | -0.14 | 1.77 | -1.91 |
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Drawdowns
SPTL vs. SCHR - Drawdown Comparison
The maximum SPTL drawdown since its inception was -46.20%, which is greater than SCHR's maximum drawdown of -16.11%. Use the drawdown chart below to compare losses from any high point for SPTL and SCHR.
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Drawdown Indicators
| SPTL | SCHR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.20% | -16.11% | -30.09% |
Max Drawdown (1Y)Largest decline over 1 year | -7.09% | -2.79% | -4.30% |
Max Drawdown (3Y)Largest decline over 3 years | -13.39% | -4.35% | -9.04% |
Max Drawdown (5Y)Largest decline over 5 years | -41.02% | -15.01% | -26.01% |
Max Drawdown (10Y)Largest decline over 10 years | -46.20% | -16.11% | -30.09% |
Current DrawdownCurrent decline from peak | -38.71% | -2.69% | -36.02% |
Average DrawdownAverage peak-to-trough decline | -14.43% | -3.63% | -10.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 1.21% | +2.00% |
Volatility
SPTL vs. SCHR - Volatility Comparison
SPDR Portfolio Long Term Treasury ETF (SPTL) has a higher volatility of 2.26% compared to Schwab Intermediate-Term U.S. Treasury ETF (SCHR) at 0.86%. This indicates that SPTL's price experiences larger fluctuations and is considered to be riskier than SCHR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPTL | SCHR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.26% | 0.86% | +1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 6.39% | 2.62% | +3.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.51% | 3.41% | +5.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.50% | 5.39% | +9.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.88% | 4.47% | +9.41% |
SPTL vs. SCHR - Expense Ratio Comparison
SPTL has a 0.03% expense ratio, which is lower than SCHR's 0.05% 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%.
Dividends
SPTL vs. SCHR - Dividend Comparison
SPTL's dividend yield for the trailing twelve months is around 4.35%, more than SCHR's 3.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHR Schwab Intermediate-Term U.S. Treasury ETF | 3.60% | 3.85% | 3.77% | 3.16% | 2.02% | 1.00% | 1.62% | 2.31% | 2.11% | 1.65% | 1.45% | 1.56% |
SPTL SPDR Portfolio Long Term Treasury ETF | 3.99% | 4.12% | 4.03% | 3.24% | 2.75% | 1.68% | 1.71% | 2.45% | 2.69% | 2.53% | 2.56% | 2.60% |
Frequently Asked Questions
SPTL and SCHR have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPTL has higher volatility (2.26%) compared to SCHR (0.86%). In terms of maximum drawdown, SPTL dropped -46.20% vs SCHR's -16.11%.
On 10-year performance, SCHR leads with 1.08% vs -1.81% for SPTL. On fees, SPTL is cheaper at 0.03% per year. On volatility, SCHR has been the lower-risk option at 0.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHR has performed better with a 1.08% return vs -1.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTL is cheaper with a 0.03% expense ratio, compared with 0.05% for SCHR.
SPTL has the higher dividend yield at 3.99%, compared with 3.60% for SCHR.
SPTL tracks Bloomberg Long U.S. Treasury Index, while SCHR tracks Bloomberg US Treasury 3-10 Year Index. They also come from different issuers: State Street and Charles Schwab. Their fees differ too: 0.03% for SPTL and 0.05% for SCHR.
SCHR currently has the higher Sharpe Ratio (0.63 vs -0.05), 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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