TFLO vs. SCHQ
TFLO (iShares Treasury Floating Rate Bond ETF) and SCHQ (Schwab Long-Term U.S. Treasury ETF) are both Government Bonds funds - TFLO tracks the Bloomberg U.S. Treasury Floating Rate Index while SCHQ tracks the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 5 years, TFLO returned 3.63%/yr vs -5.29%/yr for SCHQ. At a correlation of -0.00, they often move in opposite directions. TFLO charges 0.15%/yr vs 0.03%/yr for SCHQ.
Performance
TFLO vs. SCHQ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TFLO achieves a 1.59% return, which is significantly higher than SCHQ's -0.43% return.
TFLO
- 1D
- 0.02%
- 1M
- 0.31%
- YTD
- 1.59%
- 6M
- 1.92%
- 1Y
- 3.97%
- 3Y*
- 4.74%
- 5Y*
- 3.63%
- 10Y*
- 2.37%
SCHQ
- 1D
- -0.45%
- 1M
- 0.65%
- YTD
- -0.43%
- 6M
- -1.74%
- 1Y
- 5.22%
- 3Y*
- -0.72%
- 5Y*
- -5.29%
- 10Y*
- —
TFLO vs. SCHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TFLO iShares Treasury Floating Rate Bond ETF | 1.59% | 4.22% | 5.34% | 5.12% | 1.99% | -0.02% | 0.43% | 0.46% |
SCHQ Schwab Long-Term U.S. Treasury ETF | -0.43% | 5.50% | -6.44% | 3.43% | -29.44% | -4.86% | 17.73% | -4.02% |
Correlation
The correlation between TFLO and SCHQ is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2019 | -0.00 |
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
TFLO vs. SCHQ — Risk / Return Rank
TFLO
SCHQ
TFLO vs. SCHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Treasury Floating Rate Bond ETF (TFLO) and Schwab Long-Term U.S. Treasury ETF (SCHQ). 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.
| TFLO | SCHQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +13.50 | ||
| Sortino ratioReturn per unit of downside risk | +49.95 | ||
| Omega ratioGain probability vs. loss probability | 13.94 | 1.10 | +12.84 |
| Calmar ratioReturn relative to maximum drawdown | 201.22 | 0.75 | +200.48 |
| Martin ratioReturn relative to average drawdown | 823.26 | 1.94 | +821.33 |
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 charts...
Sharpe Ratios by Period
| TFLO | SCHQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 14.09 | 0.59 | +13.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 10.30 | -0.37 | +10.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 5.21 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | -0.25 | +1.24 |
Drawdowns
TFLO vs. SCHQ - Drawdown Comparison
The maximum TFLO drawdown since its inception was -5.01%, smaller than the maximum SCHQ drawdown of -46.13%. Use the drawdown chart below to compare losses from any high point for TFLO and SCHQ.
Loading charts...
Drawdown Indicators
| TFLO | SCHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.01% | -46.13% | +41.12% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -7.01% | +6.99% |
Max Drawdown (3Y)Largest decline over 3 years | -0.04% | -17.65% | +17.61% |
Max Drawdown (5Y)Largest decline over 5 years | -0.13% | -40.93% | +40.80% |
Max Drawdown (10Y)Largest decline over 10 years | -0.16% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -36.82% | +36.82% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -26.36% | +26.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 2.70% | -2.70% |
Volatility
TFLO vs. SCHQ - Volatility Comparison
The current volatility for iShares Treasury Floating Rate Bond ETF (TFLO) is 0.07%, while Schwab Long-Term U.S. Treasury ETF (SCHQ) has a volatility of 2.57%. This indicates that TFLO experiences smaller price fluctuations and is considered to be less risky than SCHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TFLO | SCHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.07% | 2.57% | -2.50% |
Volatility (6M)Calculated over the trailing 6-month period | 0.20% | 5.94% | -5.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.28% | 8.93% | -8.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.35% | 14.54% | -14.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.46% | 15.33% | -14.87% |
TFLO vs. SCHQ - Expense Ratio Comparison
TFLO has a 0.15% expense ratio, which is higher than SCHQ'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%.
Dividends
TFLO vs. SCHQ - Dividend Comparison
TFLO's dividend yield for the trailing twelve months is around 3.90%, less than SCHQ's 4.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHQ Schwab Long-Term U.S. Treasury ETF | 4.79% | 4.54% | 4.58% | 3.79% | 2.88% | 1.69% | 1.51% | 0.44% | 0.00% | 0.00% | 0.00% | 0.00% |
TFLO iShares Treasury Floating Rate Bond ETF | 3.90% | 4.16% | 5.21% | 4.88% | 1.68% | 0.00% | 0.36% | 2.08% | 1.65% | 0.86% | 0.31% | 0.15% |
Frequently Asked Questions
TFLO and SCHQ have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHQ has higher volatility (2.57%) compared to TFLO (0.07%). In terms of maximum drawdown, TFLO dropped -5.01% vs SCHQ's -46.13%.
On 5-year performance, TFLO leads with 3.63% vs -5.29% for SCHQ. On fees, SCHQ is cheaper at 0.03% per year. On volatility, TFLO has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, TFLO has performed better with a 3.63% return vs -5.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHQ is cheaper with a 0.03% expense ratio, compared with 0.15% for TFLO.
SCHQ has the higher dividend yield at 4.79%, compared with 3.90% for TFLO.
TFLO tracks Bloomberg U.S. Treasury Floating Rate Index, while SCHQ tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.15% for TFLO and 0.03% for SCHQ.
TFLO currently has the higher Sharpe Ratio (14.09 vs 0.59), 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 TFLO and SCHQ
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