SCHR vs SPTI

SCHRASchwab Intermediate-Term U.S. Treasury ETF

SPTIAState Street SPDR Portfolio Intermediate Term Treasury ETF

In short

SCHR The belly of the Treasury curve for three basis points. Since 2010, SCHR has tracked the Bloomberg US Treasury 3-10 Year Index: government paper only, no corporate credit, income paid monthly.

SPTI Middle-of-the-curve Treasuries and nothing else: notes maturing in 3 to 10 years, wrapped at 0.03% a year. Running since 2007, it is one of the cheapest ways to own that slice of the government bond market.

Stated mandate

SCHR The fund seeks to track, before fees and expenses, the total return of an index measuring the intermediate-term U.S. Treasury bond market.

SPTI The fund seeks to deliver returns generally matching the Bloomberg 3-10 Year U.S. Treasury Index before fees and expenses, investing in U.S. Treasury securities with remaining maturities of 3 to 10 years.

Why people hold it

• SCHR Charges 0.03% a year, a fraction of the 0.15% median for intermediate Treasury funds. In a corner of the market where yields do the heavy lifting, fee drag matters.
• Does exactly what the label says: about 100 US Treasury notes, tracking the Bloomberg US Treasury 3-10 Year Index with very tight fidelity. No credit sleeve, no derivatives detour.schwabassetmanagement.com
• Pays monthly, and it is an actively traded, multi-billion-dollar fund, which puts it among the more established options in the 3-10 year Treasury aisle.
• One of the strongest implementations in its peer group, matching SPTI at the bottom of the fee table and undercutting BBIB and the BondBloxx target-duration funds.

• SPTI 0.03% a year sits in the cheapest tier of intermediate Treasury funds, well under the category norm and level with Schwab's SCHR at the floor.
• No credit guesswork. Roughly a hundred US Treasury notes, held to mirror the Bloomberg 3-10 Year U.S. Treasury Index.ssga.com
• Index tracking has been among the tightest in its peer group, and income lands monthly.
• Launched in 2007 and now a multi-billion-dollar fund that trades actively, so getting in and out is rarely the hard part.

Worth knowing

• SCHR Intermediate maturities carry real rate sensitivity. When yields rise, prices on 3-10 year Treasuries fall, and this fund holds the full move.
• Treasuries only. You get no credit spread from corporate or mortgage bonds, which is the point for some investors and a limit for others.schwabassetmanagement.com
• SPTI runs the same 0.03% fee on the same slice of the curve, so the choice often comes down to brokerage plumbing rather than the funds themselves.

• SPTI Intermediate maturities carry real rate sensitivity: a 3-to-10-year book swings more when yields move than a short-bill fund does.
• Treasuries only. No corporates, mortgages or inflation-linked bonds, which makes it a building block rather than a full bond allocation.
• The monthly payout floats with whatever the Treasury curve is paying, so it moves with rates rather than sitting at a set level.

Full SCHR profile⁠

Full SPTI profile⁠