ZCBA vs. SCHO

Last updated Jun 6, 2026

ZCBA (Global X Zero Coupon Bond 2030 ETF) and SCHO (Schwab Short-Term U.S. Treasury ETF) are both Government Bonds funds - ZCBA tracks the FTSE Zero Coupon U.S. Treasury STRIPS 2030 Maturity Index while SCHO tracks the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Their correlation of 0.90 suggests significant overlap in exposure. ZCBA charges 0.07%/yr vs 0.03%/yr for SCHO.

Performance

ZCBA vs. SCHO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Zero Coupon Bond 2030 ETF (ZCBA) and Schwab Short-Term U.S. Treasury ETF (SCHO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZCBA

• 1D: -0.40%
• 1M: -1.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SCHO

• 1D: -0.21%
• 1M: -0.23%
• YTD: 0.29%
• 6M: 0.69%
• 1Y: 3.17%
• 3Y*: 4.10%
• 5Y*: 1.78%
• 10Y*: 1.70%

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

ZCBA vs. SCHO - Yearly Performance Comparison

	2026 (YTD)
ZCBA Global X Zero Coupon Bond 2030 ETF	-0.76%
SCHO Schwab Short-Term U.S. Treasury ETF	0.29%

Correlation

The correlation between ZCBA and SCHO is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 8, 2026	0.90

Return for Risk

ZCBA vs. SCHO — Risk / Return Rank

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

SCHO

SCHO Risk / Return Rank: 78
SCHO Sharpe Ratio Rank: 72
SCHO Sortino Ratio Rank: 84
SCHO Omega Ratio Rank: 79
SCHO Calmar Ratio Rank: 75
SCHO Martin Ratio Rank: 81

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.

ZCBA vs. SCHO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Zero Coupon Bond 2030 ETF (ZCBA) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ZCBA	SCHO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.30	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.90	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.58	0.99	-1.57

Drawdowns

ZCBA vs. SCHO - Drawdown Comparison

The maximum ZCBA drawdown since its inception was -2.39%, smaller than the maximum SCHO drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for ZCBA and SCHO.

Drawdown Indicators

	ZCBA	SCHO	Difference
Max Drawdown Largest peak-to-trough decline	-2.39%	-5.69%	+3.30%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.86%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.98%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-5.69%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-5.69%	—
Current Drawdown Current decline from peak	-2.24%	-0.39%	-1.85%
Average Drawdown Average peak-to-trough decline	-1.00%	-0.61%	-0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.20%	—

Volatility

Volatility by Period

	ZCBA	SCHO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.45%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.93%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.23%	1.39%	+1.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.23%	1.98%	+1.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.23%	1.56%	+1.67%

ZCBA vs. SCHO - Expense Ratio Comparison

ZCBA has a 0.07% 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

ZCBA vs. SCHO - Dividend Comparison

ZCBA's dividend yield for the trailing twelve months is around 1.51%, 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%
ZCBA Global X Zero Coupon Bond 2030 ETF	1.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZCBA and SCHO in my portfolio?

ZCBA and SCHO have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZCBA or SCHO?

On fees, SCHO is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZCBA or SCHO?

SCHO is cheaper with a 0.03% expense ratio, compared with 0.07% for ZCBA.

Which ETF pays a higher dividend yield, ZCBA or SCHO?

SCHO has the higher dividend yield at 3.91%, compared with 1.51% for ZCBA.

What is the main difference between ZCBA and SCHO?

ZCBA tracks FTSE Zero Coupon U.S. Treasury STRIPS 2030 Maturity Index, while SCHO tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: Global X and Charles Schwab. Their fees differ too: 0.07% for ZCBA and 0.03% for SCHO.