Long-Duration ETF Face-Off: SCHQ Cuts Costs, SPLB Boosts Yield, TLT Trails on Fees

Overview

• SCHQ and SPLB both target long-duration exposure, with SCHQ focused on U.S. Treasuries at a 0.03% expense ratio and SPLB on investment‑grade corporates at 0.04%.
• Income favors SPLB, which posted a 5.2% dividend yield and 6.47% 1‑year return versus SCHQ’s 4.6% yield and 4.17% 1‑year return as of Jan. 30, 2026.
• SCHQ holds 98 U.S. government and agency bonds, while SPLB spans roughly 3,000 long‑term corporate issues with large borrowers including Meta, CVS Health, Verizon, and Anheuser‑Busch InBev.
• Against TLT, SCHQ is far cheaper (0.03% vs 0.15%), more diversified (98 vs roughly mid‑40s holdings), and showed better five‑year metrics, including a smaller max drawdown (‑40.88% vs ‑43.70%) and higher growth of $1,000 ($599 vs $573).
• A separate snapshot shows SPLB outpacing TLT on recent results and income, with SPLB at a 0.22% 1‑year return and 5.25% yield versus TLT’s ‑2.61% and 4.43% as of Feb. 7, 2026.