SCHO — Schwab Short-Term U.S. Treasury ETF

SCHO Price Performance — Growth of $10,000

Value of a $10,000 investment in SCHO over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

SCHO Drawdown

The "underwater" chart: SCHO's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Schwab Short-Term U.S. Treasury ETF (SCHO) operates within the US Bonds - Government category, which currently contains 22 ETFs tracked by ETFValuer. Issued by Schwab ETFs, this fund manages $13.0 billion in assets and trades at a price of $24.04 per share. It holds an overall rank of #314 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 55.5 out of 100. The fund offers a low-cost structure with an expense ratio of just 0.03% while providing a dividend yield of 3.90%. The substantial asset under management of $13.0 billion suggests significant investor adoption relative to the fund's specific niche. This combination of low fees, high yield, and large scale positions the ETF as a widely utilized vehicle within its government bond segment.

Over the most recent single day, the fund posted a return of -0.04%, followed by a weekly decline of -0.21%. A shift to positive territory occurred over the one-month horizon with a gain of +0.12%, which extended to a 3-month return of +0.03%. The upward trend continued into the six-month period with a return of +0.53%, contributing to a year-to-date gain of +0.58%. Over the longer term, the fund delivered a 1-year return of +2.79% and a 3-year return of +13.17%. This pattern indicates a divergence where short-term fluctuations were mixed or negative, while the multi-year trajectory shows consistent positive accumulation.

SCHO carries a volatility label of Very Low and a beta of 0.23, indicating that the fund's price movements are significantly less sensitive to broader market shifts. Despite this low volatility, the fund recorded a Sharpe ratio of -1.57, suggesting that the risk-adjusted returns have been negative relative to the risk-free rate over the measurement period. The maximum drawdown was limited to -0.98%, reflecting the fund's ability to preserve capital during market stress. This combination of a very low beta and minimal drawdown implies a defensive profile that limits downside exposure. However, the negative Sharpe ratio highlights that the low volatility has not translated into positive excess returns during the analyzed timeframe.

AI-generated summary based on the data on this page.

SCHO Top Holdings

Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 14.6% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how SCHO's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With SCHO

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with SCHO's top 10 — AGG overlaps most, holding 1 of the same companies as SCHO's top 10 (14.6% of SCHO's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.71% (as of 2026-07-23) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.70 (as of 2026-07-23) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

SCHO Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.12% and average daily volume is 3.5M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $13.0B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: SCHO is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

SCHO Performance History

How SCHO Compares to Other US Bonds - Government ETFs