SCHO vs SPY

Comparison between SCHWAB SHORT-TERM U.S. TREASURY ETF (SCHO, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed SCHO, delivering a return of +13.3% compared to +1.8%

SCHO vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SCHO(ETF)	SPY(ETF)
Net Assets	$13B	$652B
Expense Ratio	0.03%	0.09%
Max Drawdown	7.87%	56.47%
Sharpe Ratio	-0.13	2.07
5Y Beta	-0.02	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	33.03%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

SCHO

$13B

Winner

SPY

$652B

Expense Ratio

Winner

SCHO

0.03%

SPY

0.09%

Max Drawdown

Winner

SCHO

7.87%

SPY

56.47%

Sharpe Ratio

SCHO

-0.13

Winner

SPY

2.07

5Y Beta

Winner

SCHO

-0.02

SPY

1.00

P/E Ratio

SCHO

N/A

SPY

28.24

Forward P/E

SCHO

N/A

SPY

21.85

5Y Dividends CAGR

Winner

SCHO

33.03%

SPY

5.43%

5Y EPS CAGR

SCHO

N/A

SPY

25.79%

Debt to Equity

SCHO

N/A

SPY

22.35%

P/S Ratio

SCHO

N/A

SPY

3.55

P/B Ratio

SCHO

N/A

SPY

5.29

SCHO vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	SCHO	SPY
1 month	+0.23%	+9.11%
3 months	+0.25%	+6.59%
6 months	+1.18%	+10.56%
1 year	+3.70%	+32.04%
5 years(CAGR)	+1.84%	+13.35%
10 years(CAGR)	+1.72%	+15.49%
Max(CAGR)	+1.35%	+8.50%

SCHO

+0.23%

Winner

SPY

+9.11%

SCHO

+0.25%

Winner

SPY

+6.59%

SCHO

+1.18%

Winner

SPY

+10.56%

SCHO

+3.70%

Winner

SPY

+32.04%

5Y(CAGR)

SCHO

+1.84%

Winner

SPY

+13.35%

10Y(CAGR)

SCHO

+1.72%

Winner

SPY

+15.49%

Max(CAGR)

SCHO

+1.35%

Winner

SPY

+8.50%

SCHO vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	SCHO	SPY
2026	+0.61%	+8.27%
2025	+5.14%	+18.00%
2024	+3.78%	+25.59%
2023	+4.20%	+26.72%
2022	-3.76%	-18.64%
2021	-0.66%	+30.52%
2020	+3.11%	+17.28%
2019	+3.49%	+31.09%
2018	+1.36%	-5.24%
2017	+0.35%	+20.78%
2016	+0.68%	+13.59%
2015	+0.43%	+1.31%
2014	+0.61%	+14.56%
2013	+0.35%	+29.00%
2012	+0.31%	+14.17%
2011	+1.43%	+0.85%
2010	+0.15%	+13.14%
2009	N/A	+22.67%
2008	N/A	-36.25%
2007	N/A	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

SCHO vs SPY Drawdown Comparison

The maximum drawdown for SCHO was -5.69%, occurring on Oct 20, 2022. Recovery took 700 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current SCHO drawdown is -0.12%.

Rank	SCHO	SPY
#1	-5.69% Aug 3, 2021 - May 15, 2024	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-1.07% Sep 7, 2017 - Nov 19, 2018	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-0.98% Sep 24, 2024 - Jan 24, 2025	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-0.94% Jul 5, 2016 - Aug 1, 2017	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-0.86% Feb 27, 2026 - Mar 26, 2026	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-0.78% Nov 1, 2010 - Apr 29, 2011	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-0.70% Oct 14, 2015 - Feb 2, 2016	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-0.69% Sep 4, 2019 - Oct 3, 2019	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-0.64% Apr 30, 2025 - Jun 20, 2025	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-0.53% Oct 15, 2014 - Jan 14, 2015	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-0.48% Feb 11, 2016 - Apr 5, 2016	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-0.45% Apr 4, 2025 - Apr 21, 2025	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-0.45% Feb 2, 2015 - Apr 1, 2015	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-0.45% Jan 30, 2012 - May 11, 2012	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-0.42% May 1, 2013 - Sep 25, 2013	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between SCHO and SPY is 0.96 which considered as a very strong positive correlation - the stocks move almost identically together.

0.96

-101

Dividend Comparison (1999 - 2026)

SCHO vs SPY dividend yield comparison.

Year	SCHO	SPY
2026	1.27%	0.24%
2025	4.06%	1.07%
2024	4.29%	1.21%
2023	3.76%	1.40%
2022	1.34%	1.65%
2021	0.42%	1.20%
2020	1.28%	1.52%
2019	2.27%	1.75%
2018	1.60%	2.04%
2017	1.12%	1.80%
2016	0.82%	2.03%
2015	0.68%	2.06%
2014	0.47%	1.87%
2013	0.29%	1.81%
2012	0.29%	2.18%
2011	0.41%	2.05%
2010	0.13%	1.80%
2009	0.00%	1.95%
2008	0.00%	3.02%
2007	0.00%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%