UTWY vs. SCHQ
UTWY (F/m US Treasury 20 Year Bond ETF) and SCHQ (Schwab Long-Term U.S. Treasury ETF) are both Government Bonds funds - UTWY tracks the Bloomberg US Treasury Bellwether 20 Year Index while SCHQ tracks the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 3 years, UTWY returned -0.41%/yr vs -0.63%/yr for SCHQ. Their 0.99 correlation means they have historically moved very closely together. UTWY charges 0.15%/yr vs 0.03%/yr for SCHQ.
Performance
UTWY vs. SCHQ - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with UTWY having a -3.22% return and SCHQ slightly lower at -3.25%.
UTWY
- 1D
- -0.65%
- 1M
- -3.22%
- 6M
- -3.26%
- YTD
- -3.22%
- 1Y
- -1.66%
- 3Y*
- -0.41%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.63%
SCHQ
- 1D
- -0.63%
- 1M
- -3.51%
- 6M
- -3.16%
- YTD
- -3.25%
- 1Y
- -1.68%
- 3Y*
- -0.63%
- 5Y*
- -7.05%
- 10Y*
- —
- ALL TIME*
- -4.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $12.09M | $14.21M | $18.95M | |
| $108.36K | $60.31K | $63.45K |
UTWY vs. SCHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
UTWY F/m US Treasury 20 Year Bond ETF | -3.22% | 4.82% | -4.92% | -1.86% |
SCHQ Schwab Long-Term U.S. Treasury ETF | -3.25% | 5.50% | -6.44% | -1.80% |
Correlation
The correlation between UTWY and SCHQ is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.99 |
Correlation (3Y) Balances recent behavior with more history. | 0.99 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2023 | 0.99 |
The correlation between UTWY and SCHQ has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
UTWY vs. SCHQ — Risk / Return Rank
UTWY
SCHQ
UTWY vs. SCHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/m US Treasury 20 Year Bond ETF (UTWY) 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.
| UTWY | SCHQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.00 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | -0.04 | -0.01 |
| Martin ratioReturn relative to average drawdown | -0.12 | -0.10 | -0.02 |
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Drawdowns
UTWY vs. SCHQ - Drawdown Comparison
The maximum UTWY drawdown since its inception was -18.19%, smaller than the maximum SCHQ drawdown of -46.13%. Use the drawdown chart below to compare losses from any high point for UTWY and SCHQ.
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Drawdown Indicators
| UTWY | SCHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.19% | -46.13% | +27.94% |
Max Drawdown (1Y)Largest decline over 1 year | -6.72% | -7.05% | +0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -11.88% | -13.38% | +1.50% |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.93% | — |
Current DrawdownCurrent decline from peak | -8.47% | -38.61% | +30.14% |
Average DrawdownAverage peak-to-trough decline | -6.98% | -26.60% | +19.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 3.20% | -0.20% |
Volatility
UTWY vs. SCHQ - Volatility Comparison
The current volatility for F/m US Treasury 20 Year Bond ETF (UTWY) is 2.09%, while Schwab Long-Term U.S. Treasury ETF (SCHQ) has a volatility of 2.24%. This indicates that UTWY 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
| UTWY | SCHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.09% | 2.24% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 6.01% | 6.30% | -0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.83% | 8.50% | -0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.97% | 14.41% | -3.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.97% | 15.20% | -4.23% |
UTWY vs. SCHQ - Expense Ratio Comparison
UTWY 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
UTWY vs. SCHQ - Dividend Comparison
UTWY's dividend yield for the trailing twelve months is around 5.27%, more than SCHQ's 4.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
SCHQ Schwab Long-Term U.S. Treasury ETF | 4.50% | 4.54% | 4.58% | 3.79% | 2.88% | 1.69% | 1.51% | 0.44% |
UTWY F/m US Treasury 20 Year Bond ETF | 4.85% | 4.62% | 4.56% | 2.94% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.99, UTWY and SCHQ 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.
SCHQ has higher volatility (2.24%) compared to UTWY (2.09%). In terms of maximum drawdown, UTWY dropped -18.19% vs SCHQ's -46.13%.
On 3-year performance, UTWY leads with -0.41% vs -0.63% for SCHQ. On fees, SCHQ is cheaper at 0.03% per year. On volatility, UTWY has been the lower-risk option at 2.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, UTWY has performed better with a -0.41% return vs -0.63%. 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 UTWY.
UTWY has the higher dividend yield at 4.85%, compared with 4.50% for SCHQ.
UTWY tracks Bloomberg US Treasury Bellwether 20 Year Index, while SCHQ tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: F/m and Charles Schwab. Their fees differ too: 0.15% for UTWY and 0.03% for SCHQ.
SCHQ currently has the higher Sharpe Ratio (-0.04 vs -0.05), 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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