UST vs. SCHD
UST (ProShares Ultra 7-10 Year Treasury) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - UST is a Leveraged Bonds fund tracking the Barclays Capital U.S. 7-10 Year Treasury Index (200%), while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 10 years, UST returned -2.65%/yr vs 12.76%/yr for SCHD. Their -0.19 correlation means they have often moved in opposite directions in the past. UST charges 0.95%/yr vs 0.06%/yr for SCHD.
Performance
UST vs. SCHD - Performance Comparison
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Returns By Period
In the year-to-date period, UST achieves a -5.28% return, which is significantly lower than SCHD's 24.03% return. Over the past 10 years, UST has underperformed SCHD with an annualized return of -2.65%, while SCHD has yielded a comparatively higher 12.76% annualized return.
UST
- 1D
- -1.21%
- 1M
- -3.09%
- 6M
- -4.76%
- YTD
- -5.28%
- 1Y
- -3.20%
- 3Y*
- 0.33%
- 5Y*
- -8.23%
- 10Y*
- -2.65%
- ALL TIME*
- 2.33%
SCHD
- 1D
- 0.18%
- 1M
- 3.33%
- 6M
- 14.09%
- YTD
- 24.03%
- 1Y
- 31.54%
- 3Y*
- 14.19%
- 5Y*
- 9.54%
- 10Y*
- 12.76%
- ALL TIME*
- 13.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $786.88M | $715.86M | $685.58M | |
| $532.69K | $437.48K | $326.17K |
UST vs. SCHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UST ProShares Ultra 7-10 Year Treasury | -5.28% | 10.26% | -6.19% | 0.16% | -30.19% | -7.81% | 18.83% | 13.34% | -1.09% | 3.21% |
SCHD Schwab U.S. Dividend Equity ETF | 24.03% | 4.34% | 11.66% | 4.54% | -3.26% | 29.87% | 15.03% | 27.29% | -5.56% | 20.85% |
Correlation
The correlation between UST and SCHD is 0.14, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.14 |
Correlation (3Y) Balances recent behavior with more history. | 0.13 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.07 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011 | -0.19 |
The correlation between UST and SCHD shifts across timeframes, from -0.19 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UST vs. SCHD — Risk / Return Rank
UST
SCHD
UST vs. SCHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra 7-10 Year Treasury (UST) and Schwab U.S. Dividend Equity ETF (SCHD). 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.
| UST | SCHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.91 | ||
| Sortino ratioReturn per unit of downside risk | -4.45 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.51 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | 6.74 | -6.84 |
| Martin ratioReturn relative to average drawdown | -0.23 | 17.01 | -17.24 |
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Drawdowns
UST vs. SCHD - Drawdown Comparison
The maximum UST drawdown since its inception was -47.99%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for UST and SCHD.
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Drawdown Indicators
| UST | SCHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.99% | -33.37% | -14.62% |
Max Drawdown (1Y)Largest decline over 1 year | -8.86% | -4.61% | -4.25% |
Max Drawdown (3Y)Largest decline over 3 years | -14.85% | -16.13% | +1.28% |
Max Drawdown (5Y)Largest decline over 5 years | -43.97% | -16.85% | -27.12% |
Max Drawdown (10Y)Largest decline over 10 years | -47.99% | -33.37% | -14.62% |
Current DrawdownCurrent decline from peak | -39.85% | -1.24% | -38.61% |
Average DrawdownAverage peak-to-trough decline | -15.35% | -3.30% | -12.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.04% | 1.82% | +2.22% |
Volatility
UST vs. SCHD - Volatility Comparison
The current volatility for ProShares Ultra 7-10 Year Treasury (UST) is 2.58%, while Schwab U.S. Dividend Equity ETF (SCHD) has a volatility of 4.11%. This indicates that UST experiences smaller price fluctuations and is considered to be less risky than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UST | SCHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.58% | 4.11% | -1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 7.22% | 8.11% | -0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.28% | 11.13% | -1.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.44% | 14.39% | +1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.15% | 16.72% | -3.57% |
UST vs. SCHD - Expense Ratio Comparison
UST has a 0.95% expense ratio, which is higher than SCHD's 0.06% expense ratio.
Dividends
UST vs. SCHD - Dividend Comparison
UST's dividend yield for the trailing twelve months is around 3.65%, more than SCHD's 3.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHD Schwab U.S. Dividend Equity ETF | 3.13% | 3.82% | 3.64% | 3.49% | 3.39% | 2.78% | 3.16% | 2.98% | 3.06% | 2.63% | 2.89% | 2.97% |
UST ProShares Ultra 7-10 Year Treasury | 3.65% | 3.65% | 4.09% | 3.49% | 0.47% | 0.27% | 0.53% | 1.42% | 1.71% | 0.84% | 0.64% | 0.75% |
Frequently Asked Questions
UST and SCHD have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHD has higher volatility (4.11%) compared to UST (2.58%). In terms of maximum drawdown, UST dropped -47.99% vs SCHD's -33.37%.
On 10-year performance, SCHD leads with 12.76% vs -2.65% for UST. On fees, SCHD is cheaper at 0.06% per year. On volatility, UST has been the lower-risk option at 2.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHD has performed better with a 12.76% return vs -2.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHD is cheaper with a 0.06% expense ratio, compared with 0.95% for UST.
UST has the higher dividend yield at 3.65%, compared with 3.13% for SCHD.
UST is categorized as Leveraged Bonds, while SCHD is Dividend. UST tracks Barclays Capital U.S. 7-10 Year Treasury Index (200%), while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: ProShares and Charles Schwab. Their fees differ too: 0.95% for UST and 0.06% for SCHD.
SCHD currently has the higher Sharpe Ratio (2.81 vs -0.10), 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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