Schwab Short-Term US Treasury ETF
ALTAR
Score™ 		31.3% info Median Credit
S&P/Moody's		 AA+/Aaa
 
Yield to
Maturity		 31.4% Current
Yield		 4.1%
Macaulay
Duration		 1.9 yrs Modified
Duration		 1.8%


  • Description
  • Performance
  • Fundamentals
  • Rate Sensitivity
  • Rating
Schwab Short-Term U.S. Treasury ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track investment results of the Barclays U.S. 1-3 Year Treasury Bond Index.

FUND BASICS
Category Government
Fund Sponsor Charles Schwab Investment Mana
Website www.schwabetfs.com
Inception date Aug 05, 2010
Assets (mns) $11,263
Currency USD
Expense ratio 3 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian State Street Bank & Trust Co
Weighting Market Cap
Index replication Optimized

ISSUER TYPE BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents 94
No of distinct issuers 3
Inflation protected 0%
Variable/Fixed coupon -1% /101%
Non-standard maturity (callable, etc.) 1%

TOP TEN HOLDINGS
0.0% // 1.7 %
0.0% // 1.6 %
0.0% // 1.6 %
0.0% // 1.6 %
0.0% // 1.6 %
0.0% // 1.6 %
0.0% // 1.6 %
0.0% // 1.6 %
0.0% // 1.6 %
0.0% // 1.6 %
   
TOTAL 15.7 %

TOP ISSUERS
U.S. TREASURY100.0%

TOP COUNTRY EXPOSURE
UNITED STATES 100.0 %

 





HISTORICAL RETURNS info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
4.3% 3.9% 1.5% 1.6% 1.3%

Market Correlations
versus... Beta R-squared
Barclays Agg. Bond 0.20 40%
S&P500 0.04 8%
MSCI EAFE 0.05 16%
MSCI Emg. Mkts. 0.05 15%

Technical Indicators
Recent close $24.39
30d moving avg. $24.32
Annualized volatility 2.0%
Short interest (ETF) 0.5%
Relative strength (RSI) 65
Liquidity measures
Avg. volume (thou.) 2,607
Avg. daily value traded (mns) $64
Turnover 0.6%
Bid/Ask (% of price) 0.04

Distributions


Yield Comparison

*Fund Category: GOVERNMENT

CREDIT QUALITY: MOODY'S

DISTRIBUTION YIELD (TRAILING 12 MONTHS)
Macaulay Duration info
 
SCHO 1.9 yrs Category
Avg.*		 6.3 yrs
 

Modified Duration info
 
SCHO 1.8% Category
Avg.*		 6.2%

RATE SENSITIVITY ANALYSIS info
Change
in YTM		 New
YTM		 Est. Price
Change		 Est. New
Price
+300 bp 34.37% -9.4% $22.09
+200 bp 33.37% -5.4% $23.07
+150 bp 32.87% -3.7% $23.48
+100 bp 32.37% -2.3% $23.84
+75 bp 32.12% -1.6% $23.99
+50 bp 31.87% -1.0% $24.14
+25 bp 31.62% -0.5% $24.27
0 bp 31.37% 0% $24.39
-25 bp 31.12% 0.4% $24.49
-50 bp 30.87% 0.8% $24.59
-75 bp 30.62% 1.1% $24.66
-100 bp 30.37% 1.4% $24.73
-150 bp 29.87% 1.8% $24.82
-200 bp 29.37% 1.9% $24.86
-300 bp 28.37% 1.6% $24.77

*Fund Category: GOVERNMENT

ALTAR Score™


Calculation of ALTAR Score™
Adj. Yield to Maturity info 3,137 bp
Less: Annual "default factor" info 0 bp
Less: Expense ratio 3 bp
Equals: ALTAR Score 31.34 %
 

Average ALTAR Score™ by Category
Aggregate 2.8%
Corporate 3.7%
Emerging Market 5.3%
Government 7.0%
Inflation Protected 2.1%
Mortgage 4.6%
Municipals 3.2%
 
*Note: The Schwab Short-Term US Treasury ETF is classified as a Government fund.

 

Our estimate of the impact of potential defaults on investor returns, based on historical default and recovery rates for bonds of similar credit rating and maturities.
See RATING tab for calculations of ALTAR Score™
Estimate of fund sensitivity to interest rate changes based on modified duration and convexity adjustment applied to underlying bonds. Note: Less meaningful for inflation-indexed bonds.
Adds expected inflation to real YTM for inflation-linked bonds so that all instruments are compared on a nominal basis
Weighted-average term to maturity of the cash flows from a bond. All else being equal, bonds of longer duration are more sensitive to changes in interest rates than bonds of shorter duration.
Approximation of the change in bond prices given a 100 basis point shift in interest rates. A better estimate, particularly for larger moves in interest rates, is provided by the Rate Sensitivity Analysis below.