ZCBG vs. SCHQ

Last updated Jun 6, 2026

ZCBG (Global X Zero Coupon Bond 2035 ETF) and SCHQ (Schwab Long-Term U.S. Treasury ETF) are both Government Bonds funds - ZCBG tracks the FTSE Zero Coupon U.S. Treasury STRIPS 2035 Maturity Index while SCHQ tracks the Bloomberg U.S. Long Treasury Index. Both are passively managed. Their correlation of 0.94 suggests significant overlap in exposure. ZCBG charges 0.07%/yr vs 0.03%/yr for SCHQ.

Performance

ZCBG vs. SCHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Zero Coupon Bond 2035 ETF (ZCBG) and Schwab Long-Term U.S. Treasury ETF (SCHQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZCBG

• 1D: -0.61%
• 1M: -1.32%
• 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)

ZCBG vs. SCHQ - Yearly Performance Comparison

	2026 (YTD)
ZCBG Global X Zero Coupon Bond 2035 ETF	-1.00%
SCHQ Schwab Long-Term U.S. Treasury ETF	-1.38%

Correlation

The correlation between ZCBG and SCHQ is 0.94, 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	0.94

Return for Risk

ZCBG 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.

ZCBG vs. SCHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Zero Coupon Bond 2035 ETF (ZCBG) 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

	ZCBG	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	-0.39	-0.25	-0.13

Drawdowns

ZCBG vs. SCHQ - Drawdown Comparison

The maximum ZCBG drawdown since its inception was -5.11%, smaller than the maximum SCHQ drawdown of -46.13%. Use the drawdown chart below to compare losses from any high point for ZCBG and SCHQ.

Drawdown Indicators

	ZCBG	SCHQ	Difference
Max Drawdown Largest peak-to-trough decline	-5.11%	-46.13%	+41.02%
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	-3.89%	-37.02%	+33.13%
Average Drawdown Average peak-to-trough decline	-1.99%	-26.37%	+24.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.72%	—

Volatility

Volatility by Period

	ZCBG	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	6.33%	8.82%	-2.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.33%	14.52%	-8.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.33%	15.33%	-9.00%

ZCBG vs. SCHQ - Expense Ratio Comparison

ZCBG 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

ZCBG vs. SCHQ - Dividend Comparison

ZCBG's dividend yield for the trailing twelve months is around 1.74%, 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%
ZCBG Global X Zero Coupon Bond 2035 ETF	1.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZCBG and SCHQ in my portfolio?

With a correlation of 0.94, ZCBG and SCHQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, ZCBG 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, ZCBG or SCHQ?

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

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

SCHQ has the higher dividend yield at 4.81%, compared with 1.74% for ZCBG.

What is the main difference between ZCBG and SCHQ?

ZCBG tracks FTSE Zero Coupon U.S. Treasury STRIPS 2035 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 ZCBG and 0.03% for SCHQ.