VGLT vs. SCHQ

Last updated Jun 23, 2026

VGLT (Vanguard Long-Term Treasury ETF) and SCHQ (Schwab Long-Term U.S. Treasury ETF) are both Government Bonds funds tracking the Bloomberg U.S. Long Treasury Index, from Vanguard and Charles Schwab respectively. Both are passively managed. Over the past 5 years, VGLT returned -5.58%/yr vs -5.56%/yr for SCHQ. With a 1.00 correlation, they move nearly in lockstep. Both charge a 0.03% expense ratio.

Performance

VGLT vs. SCHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Long-Term Treasury ETF (VGLT) and Schwab Long-Term U.S. Treasury ETF (SCHQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VGLT achieves a 0.34% return, which is significantly lower than SCHQ's 0.37% return.

VGLT

• 1D: -0.67%
• 1M: 1.89%
• YTD: 0.34%
• 6M: 0.36%
• 1Y: 4.33%
• 3Y*: -0.80%
• 5Y*: -5.58%
• 10Y*: -1.21%

SCHQ

• 1D: -0.67%
• 1M: 1.95%
• YTD: 0.37%
• 6M: 0.37%
• 1Y: 4.37%
• 3Y*: -0.77%
• 5Y*: -5.56%
• 10Y*: —

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

VGLT vs. SCHQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VGLT Vanguard Long-Term Treasury ETF	0.34%	5.35%	-6.28%	3.27%	-29.34%	-4.98%	17.57%	-5.29%
SCHQ Schwab Long-Term U.S. Treasury ETF	0.37%	5.50%	-6.44%	3.43%	-29.44%	-4.86%	17.73%	-4.20%

Correlation

The correlation between VGLT and SCHQ is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019	1.00

The correlation between VGLT and SCHQ has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

VGLT vs. SCHQ — Risk / Return Rank

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

VGLT

VGLT Risk / Return Rank: 15
VGLT Sharpe Ratio Rank: 16
VGLT Sortino Ratio Rank: 15
VGLT Omega Ratio Rank: 14
VGLT Calmar Ratio Rank: 16
VGLT Martin Ratio Rank: 16

SCHQ

SCHQ Risk / Return Rank: 15
SCHQ Sharpe Ratio Rank: 16
SCHQ Sortino Ratio Rank: 15
SCHQ Omega Ratio Rank: 14
SCHQ Calmar Ratio Rank: 16
SCHQ Martin Ratio Rank: 16

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.

VGLT vs. SCHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Treasury ETF (VGLT) 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.

	VGLT	SCHQ	Difference
Sharpe ratio: Return per unit of total volatility	0.51	0.51	0.00
Sortino ratio: Return per unit of downside risk	0.79	0.79	0.00
Omega ratio: Gain probability vs. loss probability	1.09	1.09	0.00
Calmar ratio: Return relative to maximum drawdown	0.62	0.63	-0.01
Martin ratio: Return relative to average drawdown	1.54	1.55	-0.01

VGLT vs. SCHQ - Sharpe Ratio Comparison

The current VGLT Sharpe Ratio is 0.51, which is comparable to the SCHQ Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of VGLT and SCHQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VGLT vs. SCHQ - Drawdown Comparison

The maximum VGLT drawdown since its inception was -46.18%, roughly equal to the maximum SCHQ drawdown of -46.13%. Use the drawdown chart below to compare losses from any high point for VGLT and SCHQ.

Drawdown Indicators

	VGLT	SCHQ	Difference
Max Drawdown Largest peak-to-trough decline	-46.18%	-46.13%	-0.05%
Max Drawdown (1Y) Largest decline over 1 year	-7.01%	-7.01%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-17.68%	-17.65%	-0.03%
Max Drawdown (5Y) Largest decline over 5 years	-40.98%	-40.93%	-0.05%
Max Drawdown (10Y) Largest decline over 10 years	-46.18%	—	—
Current Drawdown Current decline from peak	-36.35%	-36.31%	-0.04%
Average Drawdown Average peak-to-trough decline	-15.12%	-26.42%	+11.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	2.83%	-0.02%

Volatility

VGLT vs. SCHQ - Volatility Comparison

Vanguard Long-Term Treasury ETF (VGLT) and Schwab Long-Term U.S. Treasury ETF (SCHQ) have volatilities of 2.09% and 2.09%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGLT	SCHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.09%	2.09%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	6.08%	6.08%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	8.62%	8.66%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.53%	14.49%	+0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.82%	15.29%	-1.47%

VGLT vs. SCHQ - Expense Ratio Comparison

Both VGLT and SCHQ have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VGLT vs. SCHQ - Dividend Comparison

VGLT's dividend yield for the trailing twelve months is around 4.57%, less than SCHQ's 4.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHQ Schwab Long-Term U.S. Treasury ETF	4.75%	4.54%	4.58%	3.79%	2.88%	1.69%	1.51%	0.44%	0.00%	0.00%	0.00%	0.00%
VGLT Vanguard Long-Term Treasury ETF	4.57%	4.44%	4.33%	3.33%	2.84%	1.82%	2.15%	2.46%	2.71%	2.55%	2.69%	3.21%

Frequently Asked Questions

Can I hold both VGLT and SCHQ in my portfolio?

With a correlation of 1.00, VGLT 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.

Which is riskier, VGLT or SCHQ?

SCHQ has higher volatility (2.09%) compared to VGLT (2.09%). In terms of maximum drawdown, VGLT dropped -46.18% vs SCHQ's -46.13%.

Which ETF is better, VGLT or SCHQ?

On 5-year performance, SCHQ leads with -5.56% vs -5.58% for VGLT. Both ETFs have the same 0.03% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VGLT or SCHQ?

Over the 5-year period, SCHQ has performed better with a -5.56% return vs -5.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VGLT or SCHQ?

VGLT and SCHQ have the same expense ratio: 0.03% per year.

Which ETF pays a higher dividend yield, VGLT or SCHQ?

SCHQ has the higher dividend yield at 4.75%, compared with 4.57% for VGLT.

What is the main difference between VGLT and SCHQ?

Both ETFs track Bloomberg U.S. Long Treasury Index. They also come from different issuers: Vanguard and Charles Schwab.

Which has better risk-adjusted returns?

SCHQ currently has the higher Sharpe Ratio (0.51 vs 0.51), 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.