SCHR vs UTRE

SCHRASchwab Intermediate-Term U.S. Treasury ETF

UTREBUS Treasury 3 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.

UTRE F/m built its Treasury lineup one maturity at a time, and UTRE is the 3-year slot. Instead of a 3-to-10-year blend, it tracks the current 3-year note index and pays 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.

UTRE The fund seeks, before fees and expenses, to track generally the price and yield performance of the ICE BofA Current 3-Year US Treasury Index.

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.

• UTRE Precision, not a blend: cohort peers SPTI and SCHR span 3 to 10 years, while UTRE aims at one point on the curve, the current 3-year Treasury note index.
• Tracking is the strong suit. The fund has stayed tight to its ICE BofA Current 3-Year US Treasury Index, which is the entire job of a Treasury tracker.
• Coupon cash comes monthly, a steadier drumbeat than a quarterly schedule.

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.

• UTRE The 0.15% fee sits at the cohort median, but the broad index shops undercut it: SPTI and SCHR at 0.03%, XTRE at 0.05%.
• Small and thinly traded, so spreads can run wider than at the cohort's giants. That shows up most on large or hurried orders.
• Short by design: a 3-year note moves less with rate swings than a 10-year, in both directions. It is a curve tool, not a duration bet.

Full SCHR profile⁠

Full UTRE profile⁠