SCHQ vs TLTP
Schwab Long-Term US Treasury ETF vs Amplify TLT US Treasury 12% Option Income ETF
Quick Verdict
SCHQ has a lower expense ratio. SCHQ delivered stronger 1-year returns. SCHQ offers more diversification with 100 holdings.
Side-by-Side Comparison
| Metric | SCHQ | TLTP | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.39% | |
| AUM | $803M | $25M | |
| Dividend Yield | 4.91% | 15.05% | |
| Holdings | 100 | 5 | |
| YTD Return | -2.39% | -8.87% | |
| 1Y Return | +0.01% | -7.14% | |
| 3Y Return (annualized) | +1.26% | - | |
| 5Y Return (annualized) | -7.14% | - | |
| Volatility (annualized) | 13.5% | 8.7% | |
| Max Drawdown | -46.7% | -13.3% | |
| Fund Family | Charles Schwab Asset Management | Amplify ETFs | |
| Category | Fixed Income | Alternative | |
| Inception | Oct 10, 2019 | Oct 29, 2024 |
SCHQ vs TLTP Performance
Schwab Long-Term US Treasury ETF (SCHQ) is a ETF from Charles Schwab Asset Management and Amplify TLT US Treasury 12% Option Income ETF (TLTP) is a ETF from Amplify ETFs. Over the past year SCHQ returned +0.01% while TLTP returned -7.14%. Year to date, SCHQ is down 2.39% versus a loss of 8.87% for TLTP.
Risk: Volatility and Drawdowns
SCHQ has been the more volatile fund, with annualized monthly volatility of 13.5% compared with 8.7% for TLTP. 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 -46.7% for SCHQ and -13.3% for TLTP. 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 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SCHQ charges 0.03% per year while TLTP charges 0.39%. On a $10,000 position that is $3 vs $39 annually, a gap of $36 per year that compounds over a long holding period. On income, SCHQ currently yields 4.91% against 15.05% for TLTP.
Holdings Overlap
SCHQ and TLTP share 1 holdings out of 94 unique holdings combined, representing a 2.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SCHQ | Weight in TLTP | Difference |
|---|---|---|---|
| T 4.25 08/15/54 | 1.99% | 21.79% | 19.80% |
Frequently Asked Questions
Which is cheaper, SCHQ or TLTP?
SCHQ has an expense ratio of 0.03% while TLTP charges 0.39%. SCHQ is the cheaper option. On a $10,000 investment, that is $36 per year of difference.
Which performed better, SCHQ or TLTP?
Over the past year SCHQ returned +0.01% vs -7.14% for TLTP, so SCHQ leads on 1-year performance. Over the longest common window we track (2 years), SCHQ annualized -4.36% vs -5.01% for TLTP. Past performance does not guarantee future results.
Which is riskier, SCHQ or TLTP?
SCHQ has been the more volatile fund at 13.5% annualized versus 8.7% for TLTP. Worst drawdown: SCHQ -46.7% vs TLTP -13.3%.
Should I hold both SCHQ and TLTP?
SCHQ and TLTP have a monthly-return correlation of 0.97, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SCHQ and TLTP?
SCHQ and TLTP share 1 common holdings with a 2.0% weight overlap. Combined, they hold 94 unique securities.
Which pays a higher dividend, SCHQ or TLTP?
SCHQ yields 4.91% while TLTP yields 15.05%, so TLTP currently pays the higher dividend yield.
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