SCHO’s worst drop since 2010 was 6%
Schwab Short-Term US Treasury ETF (SCHO) fell 6% from Aug 2021 to Oct 2022. It took 2.5 years from that peak to close at a new high, in Feb 2024. Over the same years the S&P 500 fell as much as 34%.
That drop is milder than most. It ranks 196th of the 203 ETFs PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 2010 to now
How SCHO held up in each crash
| Crash | Years | SCHO | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | not trading yet | −55.2% |
| COVID crash | 2020 | −0.3% | −33.7% |
| 2022 rate shock | 2022 | −4.9% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
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What was SCHO’s maximum drawdown?
SCHO’s deepest fall since 2010 was 5.7%, from its high on August 3, 2021 to its low on October 20, 2022. The figure uses daily prices with dividends reinvested.
How long did SCHO take to recover?
2.5 years. SCHO first closed above its Aug 2021 high again on February 1, 2024.
Was SCHO riskier than the S&P 500?
Over the same years, SCHO’s worst drop was 5.7% against 33.7% for the S&P 500 (SPY), and its worst 12 months were −5.4% against −19.7%.
Compare with
Daily adjusted closes from Yahoo Finance, August 6, 2010 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.