SPTS vs. SCHO
SPTS (SPDR Portfolio Short Term Treasury ETF) and SCHO (Schwab Short-Term U.S. Treasury ETF) are both Government Bonds funds - SPTS tracks the Bloomberg 1-3 Year U.S. Treasury Index while SCHO tracks the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 10 years, SPTS returned 1.64%/yr vs 1.72%/yr for SCHO. Their 0.70 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.03% expense ratio.
Performance
SPTS vs. SCHO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPTS achieves a 0.75% return, which is significantly lower than SCHO's 0.79% return. Both investments have delivered pretty close results over the past 10 years, with SPTS having a 1.64% annualized return and SCHO not far ahead at 1.72%.
SPTS
- 1D
- -0.07%
- 1M
- 0.00%
- 6M
- 0.58%
- YTD
- 0.75%
- 1Y
- 2.62%
- 3Y*
- 4.34%
- 5Y*
- 1.87%
- 10Y*
- 1.64%
- ALL TIME*
- 1.44%
SCHO
- 1D
- -0.04%
- 1M
- 0.04%
- 6M
- 0.58%
- YTD
- 0.79%
- 1Y
- 2.63%
- 3Y*
- 4.31%
- 5Y*
- 1.87%
- 10Y*
- 1.72%
- ALL TIME*
- 1.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $59.23M | $61.44M | $84.14M | |
| $23.39M | $28.59M | $39.91M |
SPTS vs. SCHO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPTS SPDR Portfolio Short Term Treasury ETF | 0.75% | 5.05% | 4.20% | 4.27% | -3.86% | -0.72% | 3.23% | 3.56% | 1.08% | 0.59% |
SCHO Schwab Short-Term U.S. Treasury ETF | 0.79% | 5.49% | 3.65% | 4.31% | -3.87% | -0.64% | 3.11% | 3.47% | 1.37% | 0.33% |
Correlation
The correlation between SPTS and SCHO is 0.86, 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. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.89 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2011 | 0.70 |
The correlation between SPTS and SCHO shifts across timeframes, from 0.70 (all time) to 0.92 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPTS vs. SCHO — Risk / Return Rank
SPTS
SCHO
SPTS vs. SCHO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Short Term Treasury ETF (SPTS) 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.
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.
| SPTS | SCHO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.45 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.76 | 3.66 | +0.09 |
| Martin ratioReturn relative to average drawdown | 14.64 | 15.34 | -0.70 |
Loading charts...
Drawdowns
SPTS vs. SCHO - Drawdown Comparison
The maximum SPTS drawdown since its inception was -5.83%, roughly equal to the maximum SCHO drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for SPTS and SCHO.
Loading charts...
Drawdown Indicators
| SPTS | SCHO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.83% | -5.69% | -0.14% |
Max Drawdown (1Y)Largest decline over 1 year | -0.84% | -0.86% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -0.96% | -0.98% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -5.71% | -5.69% | -0.02% |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | -5.69% | -0.02% |
Current DrawdownCurrent decline from peak | -0.07% | -0.04% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -1.70% | -0.61% | -1.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.20% | +0.01% |
Volatility
SPTS vs. SCHO - Volatility Comparison
SPDR Portfolio Short Term Treasury ETF (SPTS) has a higher volatility of 0.41% compared to Schwab Short-Term U.S. Treasury ETF (SCHO) at 0.37%. This indicates that SPTS'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.
Loading charts...
Volatility by Period
| SPTS | SCHO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 0.37% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.00% | 1.03% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.34% | 1.41% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 2.00% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.70% | 1.56% | +0.14% |
SPTS vs. SCHO - Expense Ratio Comparison
Both SPTS 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%.
Dividends
SPTS vs. SCHO - Dividend Comparison
SPTS's dividend yield for the trailing twelve months is around 3.88%, which matches SCHO's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHO Schwab Short-Term U.S. Treasury ETF | 3.53% | 4.06% | 4.29% | 3.76% | 1.34% | 0.41% | 1.27% | 2.27% | 1.60% | 1.12% | 0.82% | 0.68% |
SPTS SPDR Portfolio Short Term Treasury ETF | 3.54% | 3.99% | 4.25% | 3.61% | 1.27% | 0.19% | 0.70% | 2.21% | 2.04% | 1.20% | 0.95% | 0.83% |
Frequently Asked Questions
SPTS and SCHO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPTS has higher volatility (0.41%) compared to SCHO (0.37%). In terms of maximum drawdown, SPTS dropped -5.83% vs SCHO's -5.69%.
On 10-year performance, SCHO leads with 1.72% vs 1.64% for SPTS. Both ETFs have the same 0.03% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHO has performed better with a 1.72% return vs 1.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTS and SCHO have the same expense ratio: 0.03% per year.
SPTS has the higher dividend yield at 3.54%, compared with 3.53% for SCHO.
SPTS tracks Bloomberg 1-3 Year U.S. Treasury Index, while SCHO tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: State Street and Charles Schwab.
SPTS currently has the higher Sharpe Ratio (2.35 vs 2.24), 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.
Find the right allocation for SPTS and SCHO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer