XOP vs. SCHO
XOP (SPDR S&P Oil & Gas Exploration & Production ETF) and SCHO (Schwab Short-Term U.S. Treasury ETF) are both exchange-traded funds - XOP is a Energy Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry, while SCHO is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 10 years, XOP returned 3.08%/yr vs 1.68%/yr for SCHO. At a correlation of -0.17, they often move in opposite directions. XOP charges 0.35%/yr vs 0.03%/yr for SCHO.
Performance
XOP vs. SCHO - Performance Comparison
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Returns By Period
In the year-to-date period, XOP achieves a 23.78% return, which is significantly higher than SCHO's 0.42% return. Over the past 10 years, XOP has outperformed SCHO with an annualized return of 3.08%, while SCHO has yielded a comparatively lower 1.68% annualized return.
XOP
- 1D
- 1.50%
- 1M
- -9.47%
- YTD
- 23.78%
- 6M
- 24.78%
- 1Y
- 18.46%
- 3Y*
- 10.97%
- 5Y*
- 12.47%
- 10Y*
- 3.08%
SCHO
- 1D
- -0.04%
- 1M
- 0.14%
- YTD
- 0.42%
- 6M
- 0.54%
- 1Y
- 3.09%
- 3Y*
- 4.20%
- 5Y*
- 1.84%
- 10Y*
- 1.68%
XOP vs. SCHO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 23.78% | -2.15% | -1.00% | 3.56% | 45.37% | 66.74% | -36.40% | -9.44% | -28.10% | -9.47% |
SCHO Schwab Short-Term U.S. Treasury ETF | 0.42% | 5.49% | 3.65% | 4.31% | -3.87% | -0.64% | 3.11% | 3.47% | 1.37% | 0.33% |
Correlation
The correlation between XOP and SCHO is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.17 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2010 | -0.17 |
The correlation between XOP and SCHO shifts across timeframes, from -0.29 (1 year) to -0.12 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XOP vs. SCHO — Risk / Return Rank
XOP
SCHO
XOP vs. SCHO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Oil & Gas Exploration & Production ETF (XOP) 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.
| XOP | SCHO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.57 | ||
| Sortino ratioReturn per unit of downside risk | -2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.44 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 3.61 | -2.61 |
| Martin ratioReturn relative to average drawdown | 2.84 | 15.06 | -12.21 |
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Drawdowns
XOP vs. SCHO - Drawdown Comparison
The maximum XOP drawdown since its inception was -90.27%, which is greater than SCHO's maximum drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for XOP and SCHO.
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Drawdown Indicators
| XOP | SCHO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.27% | -5.69% | -84.58% |
Max Drawdown (1Y)Largest decline over 1 year | -18.50% | -0.86% | -17.64% |
Max Drawdown (3Y)Largest decline over 3 years | -34.98% | -0.98% | -34.00% |
Max Drawdown (5Y)Largest decline over 5 years | -34.98% | -5.69% | -29.29% |
Max Drawdown (10Y)Largest decline over 10 years | -82.61% | -5.69% | -76.92% |
Current DrawdownCurrent decline from peak | -42.15% | -0.27% | -41.88% |
Average DrawdownAverage peak-to-trough decline | -42.58% | -0.61% | -41.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.62% | 0.21% | +6.41% |
Volatility
XOP vs. SCHO - Volatility Comparison
SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has a higher volatility of 9.19% compared to Schwab Short-Term U.S. Treasury ETF (SCHO) at 0.49%. This indicates that XOP's price experiences larger fluctuations and is considered to be riskier than SCHO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XOP | SCHO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.19% | 0.49% | +8.70% |
Volatility (6M)Calculated over the trailing 6-month period | 22.09% | 0.98% | +21.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.36% | 1.40% | +26.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.88% | 1.99% | +31.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.29% | 1.56% | +38.73% |
XOP vs. SCHO - Expense Ratio Comparison
XOP has a 0.35% expense ratio, which is higher than SCHO's 0.03% expense ratio.
Dividends
XOP vs. SCHO - Dividend Comparison
XOP's dividend yield for the trailing twelve months is around 2.58%, less than SCHO's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHO Schwab Short-Term U.S. Treasury ETF | 3.91% | 4.06% | 4.29% | 3.76% | 1.34% | 0.41% | 1.27% | 2.27% | 1.60% | 1.12% | 0.82% | 0.68% |
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 2.10% | 2.62% | 2.45% | 2.63% | 2.47% | 1.61% | 2.34% | 1.47% | 0.99% | 0.76% | 0.76% | 2.21% |
Frequently Asked Questions
XOP and SCHO have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XOP has higher volatility (9.19%) compared to SCHO (0.49%). In terms of maximum drawdown, XOP dropped -90.27% vs SCHO's -5.69%.
On 10-year performance, XOP leads with 3.08% vs 1.68% for SCHO. On fees, SCHO is cheaper at 0.03% per year. On volatility, SCHO has been the lower-risk option at 0.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XOP has performed better with a 3.08% return vs 1.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHO is cheaper with a 0.03% expense ratio, compared with 0.35% for XOP.
SCHO has the higher dividend yield at 3.91%, compared with 2.58% for XOP.
XOP is categorized as Energy Equities, while SCHO is Government Bonds. XOP tracks S&P Oil & Gas Exploration & Production Select Industry, while SCHO tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: State Street and Charles Schwab. Their fees differ too: 0.35% for XOP and 0.03% for SCHO.
SCHO currently has the higher Sharpe Ratio (2.22 vs 0.66), 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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