ZCBC vs. SCHQ

Last updated Jun 6, 2026

ZCBC (Global X Zero Coupon Bond 2032 ETF) and SCHQ (Schwab Long-Term U.S. Treasury ETF) are both Government Bonds funds - ZCBC tracks the FTSE Zero Coupon U.S. Treasury STRIPS 2032 Maturity Index while SCHQ tracks the Bloomberg U.S. Long Treasury Index. Both are passively managed. Their correlation of 0.87 suggests significant overlap in exposure. ZCBC charges 0.07%/yr vs 0.03%/yr for SCHQ.

Performance

ZCBC vs. SCHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Zero Coupon Bond 2032 ETF (ZCBC) and Schwab Long-Term U.S. Treasury ETF (SCHQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZCBC

• 1D: -0.51%
• 1M: -1.15%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SCHQ

• 1D: -0.58%
• 1M: -0.90%
• YTD: -0.75%
• 6M: -1.11%
• 1Y: 3.33%
• 3Y*: -0.91%
• 5Y*: -5.35%
• 10Y*: —

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

ZCBC vs. SCHQ - Yearly Performance Comparison

	2026 (YTD)
ZCBC Global X Zero Coupon Bond 2032 ETF	-0.79%
SCHQ Schwab Long-Term U.S. Treasury ETF	-1.38%

Correlation

The correlation between ZCBC and SCHQ is 0.87, 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	0.87

Return for Risk

ZCBC vs. SCHQ — Risk / Return Rank

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

SCHQ

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

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.

ZCBC vs. SCHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Zero Coupon Bond 2032 ETF (ZCBC) 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.

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

Sharpe Ratios by Period

	ZCBC	SCHQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.38	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.37	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.42	-0.25	-0.17

Drawdowns

ZCBC vs. SCHQ - Drawdown Comparison

The maximum ZCBC drawdown since its inception was -3.65%, smaller than the maximum SCHQ drawdown of -46.13%. Use the drawdown chart below to compare losses from any high point for ZCBC and SCHQ.

Drawdown Indicators

	ZCBC	SCHQ	Difference
Max Drawdown Largest peak-to-trough decline	-3.65%	-46.13%	+42.48%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.01%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.65%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-40.93%	—
Current Drawdown Current decline from peak	-3.05%	-37.02%	+33.97%
Average Drawdown Average peak-to-trough decline	-1.46%	-26.37%	+24.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.72%	—

Volatility

Volatility by Period

	ZCBC	SCHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.49%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.97%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.59%	8.82%	-4.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.59%	14.52%	-9.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.59%	15.33%	-10.74%

ZCBC vs. SCHQ - Expense Ratio Comparison

ZCBC has a 0.07% expense ratio, which is higher than SCHQ'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

ZCBC vs. SCHQ - Dividend Comparison

ZCBC's dividend yield for the trailing twelve months is around 1.61%, less than SCHQ's 4.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
SCHQ Schwab Long-Term U.S. Treasury ETF	4.81%	4.54%	4.58%	3.79%	2.88%	1.69%	1.51%	0.44%
ZCBC Global X Zero Coupon Bond 2032 ETF	1.61%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZCBC and SCHQ in my portfolio?

ZCBC and SCHQ have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZCBC or SCHQ?

On fees, SCHQ 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, ZCBC or SCHQ?

SCHQ is cheaper with a 0.03% expense ratio, compared with 0.07% for ZCBC.

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

SCHQ has the higher dividend yield at 4.81%, compared with 1.61% for ZCBC.

What is the main difference between ZCBC and SCHQ?

ZCBC tracks FTSE Zero Coupon U.S. Treasury STRIPS 2032 Maturity Index, while SCHQ tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: Global X and Charles Schwab. Their fees differ too: 0.07% for ZCBC and 0.03% for SCHQ.