TROT vs. SCHO

Last updated Jul 1, 2026

TROT (Invesco MSCI Treasury Duration Rotation ETF) and SCHO (Schwab Short-Term U.S. Treasury ETF) are both Government Bonds funds - TROT tracks the MSCI Treasury Duration Rotation Index while SCHO tracks the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Their correlation of 0.93 suggests significant overlap in exposure.

Performance

TROT vs. SCHO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco MSCI Treasury Duration Rotation ETF (TROT) and Schwab Short-Term U.S. Treasury ETF (SCHO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TROT

• 1D: -0.12%
• 1M: 0.09%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SCHO

• 1D: -0.08%
• 1M: 0.06%
• YTD: 0.63%
• 6M: 0.63%
• 1Y: 2.92%
• 3Y*: 4.34%
• 5Y*: 1.88%
• 10Y*: 1.69%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TROT vs. SCHO - Yearly Performance Comparison

	2026 (YTD)
TROT Invesco MSCI Treasury Duration Rotation ETF	-0.34%
SCHO Schwab Short-Term U.S. Treasury ETF	0.06%

Correlation

The correlation between TROT and SCHO is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 25, 2026	0.93

Return for Risk

TROT vs. SCHO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TROT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SCHO

SCHO Risk / Return Rank: 82
SCHO Sharpe Ratio Rank: 77
SCHO Sortino Ratio Rank: 86
SCHO Omega Ratio Rank: 82
SCHO Calmar Ratio Rank: 78
SCHO Martin Ratio Rank: 84

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TROT vs. SCHO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Treasury Duration Rotation ETF (TROT) 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.

	TROT	SCHO	Difference
Sharpe ratio: Return per unit of total volatility	—	2.09	—
Sortino ratio: Return per unit of downside risk	—	3.31	—
Omega ratio: Gain probability vs. loss probability	—	1.41	—
Calmar ratio: Return relative to maximum drawdown	—	3.42	—
Martin ratio: Return relative to average drawdown	—	14.37	—

Drawdowns

TROT vs. SCHO - Drawdown Comparison

The maximum TROT drawdown since its inception was -1.29%, smaller than the maximum SCHO drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for TROT and SCHO.

Drawdown Indicators

	TROT	SCHO	Difference
Max Drawdown Largest peak-to-trough decline	-1.29%	-5.69%	+4.40%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.86%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.98%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-5.69%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-5.69%	—
Current Drawdown Current decline from peak	-0.62%	-0.08%	-0.54%
Average Drawdown Average peak-to-trough decline	-0.71%	-0.61%	-0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.21%	—

Volatility

Volatility by Period

	TROT	SCHO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.49%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.99%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.11%	1.41%	+0.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.11%	1.99%	+0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.11%	1.56%	+0.55%

Dividends

TROT vs. SCHO - Dividend Comparison

TROT's dividend yield for the trailing twelve months is around 1.16%, less than 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	3.90%	4.06%	4.29%	3.76%	1.34%	0.41%	1.27%	2.27%	1.60%	1.12%	0.82%	0.68%
TROT Invesco MSCI Treasury Duration Rotation ETF	1.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TROT and SCHO in my portfolio?

With a correlation of 0.93, TROT and SCHO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF pays a higher dividend yield, TROT or SCHO?

SCHO has the higher dividend yield at 3.90%, compared with 1.16% for TROT.

What is the main difference between TROT and SCHO?

TROT tracks MSCI Treasury Duration Rotation Index, while SCHO tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: Invesco and Charles Schwab.