SWCAX vs. SCHO
Compare and contrast key facts about Schwab California Tax-Free Bond Fund™ (SWCAX) and Schwab Short-Term U.S. Treasury ETF (SCHO).
SWCAX is managed by Charles Schwab. It was launched on Feb 23, 1992. 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.
Performance
SWCAX vs. SCHO - Performance Comparison
Loading graphics...
SWCAX vs. SCHO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SWCAX Schwab California Tax-Free Bond Fund™ | -0.74% | 3.95% | 1.51% | 4.73% | -8.10% | 0.36% | 3.93% | 6.02% | 1.16% | 4.37% |
SCHO Schwab Short-Term U.S. Treasury ETF | 0.24% | 5.49% | 3.65% | 4.31% | -3.87% | -0.64% | 3.11% | 3.47% | 1.37% | 0.33% |
Returns By Period
In the year-to-date period, SWCAX achieves a -0.74% return, which is significantly lower than SCHO's 0.24% return. Over the past 10 years, SWCAX has underperformed SCHO with an annualized return of 1.42%, while SCHO has yielded a comparatively higher 1.71% annualized return.
SWCAX
- 1D
- 0.09%
- 1M
- -2.66%
- YTD
- -0.74%
- 6M
- 0.80%
- 1Y
- 3.41%
- 3Y*
- 2.45%
- 5Y*
- 0.39%
- 10Y*
- 1.42%
SCHO
- 1D
- 0.08%
- 1M
- -0.45%
- YTD
- 0.24%
- 6M
- 1.40%
- 1Y
- 3.77%
- 3Y*
- 3.99%
- 5Y*
- 1.79%
- 10Y*
- 1.71%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
SWCAX vs. SCHO - Expense Ratio Comparison
SWCAX has a 0.48% expense ratio, which is higher than SCHO's 0.03% expense ratio.
Return for Risk
SWCAX vs. SCHO — Risk / Return Rank
SWCAX
SCHO
SWCAX vs. SCHO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab California Tax-Free Bond Fund™ (SWCAX) 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.
| SWCAX | SCHO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.03 | 2.49 | -1.45 |
Sortino ratioReturn per unit of downside risk | 1.39 | 4.00 | -2.61 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.51 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | 1.01 | 4.44 | -3.43 |
Martin ratioReturn relative to average drawdown | 3.34 | 17.55 | -14.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| SWCAX | SCHO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.03 | 2.49 | -1.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | 0.91 | -0.79 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 1.11 | -0.68 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.17 | 1.00 | +0.18 |
Correlation
The correlation between SWCAX and SCHO is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
SWCAX vs. SCHO - Dividend Comparison
SWCAX's dividend yield for the trailing twelve months is around 2.99%, less than SCHO's 4.00% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWCAX Schwab California Tax-Free Bond Fund™ | 2.99% | 3.46% | 2.67% | 2.23% | 1.57% | 1.68% | 2.45% | 2.54% | 2.50% | 2.22% | 3.10% | 2.79% |
SCHO Schwab Short-Term U.S. Treasury ETF | 4.00% | 4.06% | 4.29% | 3.76% | 1.34% | 0.41% | 1.27% | 2.27% | 1.60% | 1.12% | 0.82% | 0.68% |
Drawdowns
SWCAX vs. SCHO - Drawdown Comparison
The maximum SWCAX drawdown since its inception was -13.51%, which is greater than SCHO's maximum drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for SWCAX and SCHO.
Loading graphics...
Drawdown Indicators
| SWCAX | SCHO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.51% | -5.69% | -7.82% |
Max Drawdown (1Y)Largest decline over 1 year | -3.99% | -0.86% | -3.13% |
Max Drawdown (5Y)Largest decline over 5 years | -12.30% | -5.69% | -6.61% |
Max Drawdown (10Y)Largest decline over 10 years | -12.30% | -5.69% | -6.61% |
Current DrawdownCurrent decline from peak | -2.66% | -0.45% | -2.21% |
Average DrawdownAverage peak-to-trough decline | -1.88% | -0.61% | -1.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 0.22% | +0.99% |
Volatility
SWCAX vs. SCHO - Volatility Comparison
Schwab California Tax-Free Bond Fund™ (SWCAX) has a higher volatility of 0.90% compared to Schwab Short-Term U.S. Treasury ETF (SCHO) at 0.52%. This indicates that SWCAX'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 graphics...
Volatility by Period
| SWCAX | SCHO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 0.52% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 1.50% | 0.87% | +0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.03% | 1.52% | +2.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.07% | 1.97% | +1.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.35% | 1.55% | +1.80% |