USFR vs. SCHQ
USFR (WisdomTree Floating Rate Treasury Fund) and SCHQ (Schwab Long-Term U.S. Treasury ETF) are both Government Bonds funds - USFR tracks the Bloomberg U.S. Treasury Floating Rate Bond Index while SCHQ tracks the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 5 years, USFR returned 3.81%/yr vs -6.96%/yr for SCHQ. Their 0.01 correlation means their historical movements had little consistent relationship. USFR charges 0.15%/yr vs 0.03%/yr for SCHQ.
Performance
USFR vs. SCHQ - Performance Comparison
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Returns By Period
In the year-to-date period, USFR achieves a 2.29% return, which is significantly higher than SCHQ's -2.16% return.
USFR
- 1D
- 0.00%
- 1M
- 0.36%
- 6M
- 1.89%
- YTD
- 2.29%
- 1Y
- 3.97%
- 3Y*
- 4.68%
- 5Y*
- 3.81%
- 10Y*
- 2.48%
- ALL TIME*
- 1.98%
SCHQ
- 1D
- 0.77%
- 1M
- -2.42%
- 6M
- -2.00%
- YTD
- -2.16%
- 1Y
- -0.79%
- 3Y*
- 0.22%
- 5Y*
- -6.96%
- 10Y*
- —
- ALL TIME*
- -4.02%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.32M | $14.68M | $18.61M | |
| $352.79M | $265.75M | $249.59M |
USFR vs. SCHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
USFR WisdomTree Floating Rate Treasury Fund | 2.29% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 0.47% |
SCHQ Schwab Long-Term U.S. Treasury ETF | -2.16% | 5.50% | -6.44% | 3.43% | -29.44% | -4.86% | 17.73% | -4.20% |
Correlation
The correlation between USFR and SCHQ is -0.12, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.12 |
Correlation (3Y) Balances recent behavior with more history. | -0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.00 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019 | 0.01 |
The correlation between USFR and SCHQ shifts across timeframes, from -0.12 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
USFR vs. SCHQ — Risk / Return Rank
USFR
SCHQ
USFR vs. SCHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Floating Rate Treasury Fund (USFR) 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.
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.
| USFR | SCHQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +14.74 | ||
| Sortino ratioReturn per unit of downside risk | +51.67 | ||
| Omega ratioGain probability vs. loss probability | 14.07 | 0.99 | +13.08 |
| Calmar ratioReturn relative to maximum drawdown | 200.37 | -0.11 | +200.48 |
| Martin ratioReturn relative to average drawdown | 800.41 | -0.24 | +800.66 |
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Drawdowns
USFR vs. SCHQ - Drawdown Comparison
The maximum USFR drawdown since its inception was -1.36%, smaller than the maximum SCHQ drawdown of -46.13%. Use the drawdown chart below to compare losses from any high point for USFR and SCHQ.
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Drawdown Indicators
| USFR | SCHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.36% | -46.13% | +44.77% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -7.05% | +7.03% |
Max Drawdown (3Y)Largest decline over 3 years | -0.06% | -13.38% | +13.32% |
Max Drawdown (5Y)Largest decline over 5 years | -0.18% | -40.93% | +40.75% |
Max Drawdown (10Y)Largest decline over 10 years | -0.80% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -37.91% | +37.91% |
Average DrawdownAverage peak-to-trough decline | -0.15% | -26.61% | +26.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 3.25% | -3.25% |
Volatility
USFR vs. SCHQ - Volatility Comparison
The current volatility for WisdomTree Floating Rate Treasury Fund (USFR) is 0.09%, while Schwab Long-Term U.S. Treasury ETF (SCHQ) has a volatility of 2.47%. This indicates that USFR 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.
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Volatility by Period
| USFR | SCHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.09% | 2.47% | -2.38% |
Volatility (6M)Calculated over the trailing 6-month period | 0.20% | 6.34% | -6.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.27% | 8.43% | -8.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.39% | 14.42% | -14.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.76% | 15.20% | -14.44% |
USFR vs. SCHQ - Expense Ratio Comparison
USFR 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
USFR vs. SCHQ - Dividend Comparison
USFR's dividend yield for the trailing twelve months is around 3.79%, less than SCHQ's 4.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SCHQ Schwab Long-Term U.S. Treasury ETF | 4.89% | 4.54% | 4.58% | 3.79% | 2.88% | 1.69% | 1.51% | 0.44% | 0.00% | 0.00% | 0.00% |
USFR WisdomTree Floating Rate Treasury Fund | 3.79% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% |
Frequently Asked Questions
USFR and SCHQ have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHQ has higher volatility (2.47%) compared to USFR (0.09%). In terms of maximum drawdown, USFR dropped -1.36% vs SCHQ's -46.13%.
On 5-year performance, USFR leads with 3.81% vs -6.96% for SCHQ. On fees, SCHQ is cheaper at 0.03% per year. On volatility, USFR has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USFR has performed better with a 3.81% return vs -6.96%. 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 USFR.
SCHQ has the higher dividend yield at 4.89%, compared with 3.79% for USFR.
USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index, while SCHQ tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: WisdomTree and Charles Schwab. Their fees differ too: 0.15% for USFR and 0.03% for SCHQ.
USFR currently has the higher Sharpe Ratio (14.64 vs -0.09), 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.
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