SCHR vs USVN

SCHRASchwab Intermediate-Term U.S. Treasury ETF

USVNCUS Treasury 7 Year Note 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.

USVN Most Treasury funds hand you a whole maturity range. USVN aims at a single point on the curve, tracking the ICE BofA Current 7-Year US Treasury Index and paying out monthly.

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.

USVN The fund seeks performance generally corresponding to the price and yield performance of the ICE BofA Current 7-Year US Treasury Index, before fees and expenses.

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.

• USVN A scalpel, not a blanket. The mandate is one maturity, the 7-year Treasury note, so your interest-rate exposure is a known quantity instead of a blended average.
• What it says is what it holds: US Treasuries only, in a plain 1940 Act fund, with no credit or currency exposure bolted on. Portfolio and prospectus line up closely.
• Monthly distribution cadence, and you get a specific Treasury maturity in one ticker rather than working an odd lot through a bond desk.

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.

• USVN At 0.15%, it sits at the category median but well above broad intermediate Treasury options like SPTI and SCHR at 0.03%. Precision costs something.
• A small, thinly traded fund. Spreads can be wider than the household names in the group, so limit orders do real work here.
• One maturity means no cushion from the rest of the curve, and the fund has only been trading since 2023.

Full SCHR profile⁠

Full USVN profile⁠