XTEN vs. SCHO
XTEN (BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF) and SCHO (Schwab Short-Term U.S. Treasury ETF) are both Government Bonds funds - XTEN tracks the Bloomberg US Treasury 10 Year Target Duration Index while SCHO tracks the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 3 years, XTEN returned 1.73%/yr vs 4.15%/yr for SCHO. A 0.75 correlation means they provide meaningful diversification when combined. XTEN charges 0.07%/yr vs 0.03%/yr for SCHO.
Performance
XTEN vs. SCHO - Performance Comparison
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Returns By Period
In the year-to-date period, XTEN achieves a -0.54% return, which is significantly lower than SCHO's 0.42% return.
XTEN
- 1D
- -0.35%
- 1M
- 0.25%
- YTD
- -0.54%
- 6M
- -1.22%
- 1Y
- 4.81%
- 3Y*
- 1.73%
- 5Y*
- —
- 10Y*
- —
SCHO
- 1D
- -0.04%
- 1M
- 0.06%
- YTD
- 0.42%
- 6M
- 0.78%
- 1Y
- 3.39%
- 3Y*
- 4.15%
- 5Y*
- 1.80%
- 10Y*
- 1.71%
XTEN vs. SCHO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XTEN BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF | -0.54% | 7.37% | -2.15% | 4.00% | -2.94% |
SCHO Schwab Short-Term U.S. Treasury ETF | 0.42% | 5.49% | 3.65% | 4.31% | 0.18% |
Correlation
The correlation between XTEN and SCHO is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022 | 0.75 |
The correlation between XTEN and SCHO has been stable across timeframes, ranging from 0.70 to 0.75 - a consistent structural relationship.
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Return for Risk
XTEN vs. SCHO — Risk / Return Rank
XTEN
SCHO
XTEN vs. SCHO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF (XTEN) 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.
| XTEN | SCHO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.93 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.50 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | 3.96 | -3.07 |
| Martin ratioReturn relative to average drawdown | 2.59 | 17.03 | -14.44 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XTEN | SCHO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 2.48 | -1.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.91 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.99 | -0.84 |
Drawdowns
XTEN vs. SCHO - Drawdown Comparison
The maximum XTEN drawdown since its inception was -13.86%, which is greater than SCHO's maximum drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for XTEN and SCHO.
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Drawdown Indicators
| XTEN | SCHO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.86% | -5.69% | -8.17% |
Max Drawdown (1Y)Largest decline over 1 year | -5.42% | -0.86% | -4.56% |
Max Drawdown (3Y)Largest decline over 3 years | -11.15% | -0.98% | -10.17% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.69% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.69% | — |
Current DrawdownCurrent decline from peak | -3.51% | -0.27% | -3.24% |
Average DrawdownAverage peak-to-trough decline | -4.03% | -0.61% | -3.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 0.20% | +1.66% |
Volatility
XTEN vs. SCHO - Volatility Comparison
BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF (XTEN) has a higher volatility of 2.05% compared to Schwab Short-Term U.S. Treasury ETF (SCHO) at 0.41%. This indicates that XTEN'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
| XTEN | SCHO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.05% | 0.41% | +1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 4.41% | 0.90% | +3.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.41% | 1.37% | +5.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.56% | 1.98% | +7.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.56% | 1.56% | +8.00% |
XTEN vs. SCHO - Expense Ratio Comparison
XTEN has a 0.08% expense ratio, which is higher than SCHO'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
XTEN vs. SCHO - Dividend Comparison
XTEN's dividend yield for the trailing twelve months is around 4.40%, more 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% |
XTEN BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF | 4.40% | 4.05% | 4.21% | 3.71% | 1.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XTEN and SCHO have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XTEN has higher volatility (2.05%) compared to SCHO (0.41%). In terms of maximum drawdown, XTEN dropped -13.86% vs SCHO's -5.69%.
On 3-year performance, SCHO leads with 4.15% vs 1.73% for XTEN. On fees, SCHO is cheaper at 0.03% per year. On volatility, SCHO has been the lower-risk option at 0.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SCHO has performed better with a 4.15% return vs 1.73%. 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 0.07% for XTEN.
XTEN has the higher dividend yield at 4.40%, compared with 3.91% for SCHO.
XTEN tracks Bloomberg US Treasury 10 Year Target Duration Index, while SCHO tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: BondBloxx and Charles Schwab. Their fees differ too: 0.07% for XTEN and 0.03% for SCHO.
SCHO currently has the higher Sharpe Ratio (2.48 vs 0.75), 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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