TAXE vs. SCHO
Compare and contrast key facts about T. Rowe Price Intermediate Municipal Income ETF (TAXE) and Schwab Short-Term U.S. Treasury ETF (SCHO).
TAXE and SCHO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TAXE is an actively managed fund by T. Rowe Price. It was launched on Jul 9, 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.
Performance
TAXE vs. SCHO - Performance Comparison
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TAXE vs. SCHO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TAXE T. Rowe Price Intermediate Municipal Income ETF | 0.32% | 5.78% | 1.55% |
SCHO Schwab Short-Term U.S. Treasury ETF | 0.26% | 5.49% | 2.14% |
Returns By Period
In the year-to-date period, TAXE achieves a 0.32% return, which is significantly higher than SCHO's 0.26% return.
TAXE
- 1D
- 0.15%
- 1M
- -1.77%
- YTD
- 0.32%
- 6M
- 1.98%
- 1Y
- 5.40%
- 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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TAXE vs. SCHO - Expense Ratio Comparison
TAXE has a 0.24% expense ratio, which is higher than SCHO'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%.
Return for Risk
TAXE vs. SCHO — Risk / Return Rank
TAXE
SCHO
TAXE vs. SCHO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Intermediate Municipal Income ETF (TAXE) 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.
| TAXE | SCHO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.68 | 2.44 | -0.76 |
Sortino ratioReturn per unit of downside risk | 2.12 | 3.92 | -1.79 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.50 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.89 | 4.42 | -2.52 |
Martin ratioReturn relative to average drawdown | 6.74 | 17.32 | -10.58 |
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
| TAXE | SCHO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.68 | 2.44 | -0.76 |
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 | 1.38 | 1.00 | +0.38 |
Correlation
The correlation between TAXE and SCHO is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
TAXE vs. SCHO - Dividend Comparison
TAXE's dividend yield for the trailing twelve months is around 3.50%, less than SCHO's 3.98% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TAXE T. Rowe Price Intermediate Municipal Income ETF | 3.50% | 3.46% | 1.74% | 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
TAXE vs. SCHO - Drawdown Comparison
The maximum TAXE drawdown since its inception was -3.72%, smaller than the maximum SCHO drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for TAXE and SCHO.
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Drawdown Indicators
| TAXE | SCHO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.72% | -5.69% | +1.97% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -0.86% | -2.19% |
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 | -2.01% | -0.43% | -1.58% |
Average DrawdownAverage peak-to-trough decline | -0.66% | -0.61% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 0.22% | +0.64% |
Volatility
TAXE vs. SCHO - Volatility Comparison
T. Rowe Price Intermediate Municipal Income ETF (TAXE) has a higher volatility of 0.99% compared to Schwab Short-Term U.S. Treasury ETF (SCHO) at 0.52%. This indicates that TAXE'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
| TAXE | SCHO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 0.52% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 1.50% | 0.87% | +0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.25% | 1.52% | +1.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.23% | 1.97% | +1.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.23% | 1.55% | +1.68% |