XTWO vs. SCHO
XTWO (BondBloxx Bloomberg Two Year Target Duration US Treasury ETF) and SCHO (Schwab Short-Term U.S. Treasury ETF) are both Government Bonds funds - XTWO tracks the Bloomberg US Treasury 2 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, XTWO returned 4.12%/yr vs 4.15%/yr for SCHO. Their correlation of 0.94 suggests significant overlap in exposure. XTWO charges 0.05%/yr vs 0.03%/yr for SCHO.
Performance
XTWO vs. SCHO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with XTWO having a 0.41% return and SCHO slightly higher at 0.42%.
XTWO
- 1D
- -0.03%
- 1M
- 0.08%
- YTD
- 0.41%
- 6M
- 0.67%
- 1Y
- 3.42%
- 3Y*
- 4.12%
- 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%
XTWO vs. SCHO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XTWO BondBloxx Bloomberg Two Year Target Duration US Treasury ETF | 0.41% | 5.17% | 3.92% | 4.27% | 0.17% |
SCHO Schwab Short-Term U.S. Treasury ETF | 0.42% | 5.49% | 3.65% | 4.31% | 0.18% |
Correlation
The correlation between XTWO and SCHO is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022 | 0.94 |
The correlation between XTWO and SCHO has been stable across timeframes, ranging from 0.86 to 0.94 - a consistent structural relationship.
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Return for Risk
XTWO vs. SCHO — Risk / Return Rank
XTWO
SCHO
XTWO vs. SCHO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg Two Year Target Duration US Treasury ETF (XTWO) 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.
| XTWO | SCHO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.50 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 3.96 | -0.19 |
| Martin ratioReturn relative to average drawdown | 13.59 | 17.03 | -3.44 |
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
| XTWO | SCHO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.52 | 2.48 | +0.03 |
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 | 1.74 | 0.99 | +0.75 |
Drawdowns
XTWO vs. SCHO - Drawdown Comparison
The maximum XTWO drawdown since its inception was -1.73%, smaller than the maximum SCHO drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for XTWO and SCHO.
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Drawdown Indicators
| XTWO | SCHO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.73% | -5.69% | +3.96% |
Max Drawdown (1Y)Largest decline over 1 year | -0.91% | -0.86% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -1.18% | -0.98% | -0.20% |
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 | -0.38% | -0.27% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -0.40% | -0.61% | +0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.25% | 0.20% | +0.05% |
Volatility
XTWO vs. SCHO - Volatility Comparison
The current volatility for BondBloxx Bloomberg Two Year Target Duration US Treasury ETF (XTWO) is 0.36%, while Schwab Short-Term U.S. Treasury ETF (SCHO) has a volatility of 0.41%. This indicates that XTWO experiences smaller price fluctuations and is considered to be less risky 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
| XTWO | SCHO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 0.41% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 0.95% | 0.90% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.37% | 1.37% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.16% | 1.98% | +0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.16% | 1.56% | +0.60% |
XTWO vs. SCHO - Expense Ratio Comparison
XTWO has a 0.05% 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
XTWO vs. SCHO - Dividend Comparison
XTWO's dividend yield for the trailing twelve months is around 4.05%, 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% |
XTWO BondBloxx Bloomberg Two Year Target Duration US Treasury ETF | 4.05% | 4.24% | 4.54% | 4.07% | 1.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XTWO and SCHO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHO has higher volatility (0.41%) compared to XTWO (0.36%). In terms of maximum drawdown, XTWO dropped -1.73% vs SCHO's -5.69%.
On 3-year performance, SCHO leads with 4.15% vs 4.12% for XTWO. On fees, SCHO is cheaper at 0.03% per year. Their volatility is very similar. 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 4.12%. 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 0.05% for XTWO.
XTWO has the higher dividend yield at 4.05%, compared with 3.91% for SCHO.
XTWO tracks Bloomberg US Treasury 2 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: 0.05% for XTWO and 0.03% for SCHO.
XTWO currently has the higher Sharpe Ratio (2.52 vs 2.48), 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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