SCHD vs TBLL
Schwab US Dividend Equity ETF vs Invesco Short Term Treasury ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SCHD offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | SCHD | TBLL | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 0.08% | |
| AUM | $112.2B | $2.8B | |
| Dividend Yield | 3.13% | 3.69% | |
| Holdings | 103 | 92 | |
| YTD Return | +27.89% | +2.01% | |
| 1Y Return | +29.93% | +3.43% | |
| 3Y Return (annualized) | +16.13% | +4.42% | |
| 5Y Return (annualized) | +10.00% | +3.48% | |
| Volatility (annualized) | 13.6% | 0.8% | |
| Max Drawdown | -33.4% | -1.0% | |
| Fund Family | Charles Schwab Asset Management | Invesco (US) | |
| Category | Equity | Fixed Income | |
| Inception | Oct 20, 2011 | Jan 10, 2017 |
SCHD vs TBLL Performance
Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management and Invesco Short Term Treasury ETF (TBLL) is a ETF from Invesco (US). Over the past year SCHD returned +29.93% while TBLL returned +3.43%. Year to date, SCHD is up 27.89% versus a gain of 2.01% for TBLL.
Over three years, SCHD compounded at +16.13% per year against +4.42% for TBLL; over five years the annualized figures are +10.00% and +3.48% respectively. Across the full 10-year window we track, SCHD has the edge at +11.56% annualized vs +1.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 0.8% for TBLL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -33.4% for SCHD and -1.0% for TBLL. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.07. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SCHD charges 0.06% per year while TBLL charges 0.08%. On a $10,000 position that is $6 vs $8 annually, a gap of $2 per year that compounds over a long holding period. On income, SCHD currently yields 3.13% against 3.69% for TBLL.
Holdings Overlap
SCHD and TBLL share 0 holdings out of 148 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SCHD or TBLL?
SCHD has an expense ratio of 0.06% while TBLL charges 0.08%. SCHD is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, SCHD or TBLL?
Over the past year SCHD returned +29.93% vs +3.43% for TBLL, so SCHD leads on 1-year performance. Over the longest common window we track (10 years), SCHD annualized +11.56% vs +1.82% for TBLL. Past performance does not guarantee future results.
Which is riskier, SCHD or TBLL?
SCHD has been the more volatile fund at 13.6% annualized versus 0.8% for TBLL. Worst drawdown: SCHD -33.4% vs TBLL -1.0%.
Should I hold both SCHD and TBLL?
SCHD and TBLL have a monthly-return correlation of -0.07, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SCHD and TBLL?
SCHD and TBLL share 0 common holdings with a 0.0% weight overlap. Combined, they hold 148 unique securities.
Which pays a higher dividend, SCHD or TBLL?
SCHD yields 3.13% while TBLL yields 3.69%, so TBLL currently pays the higher dividend yield.
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