EBND vs. SCHP
EBND (SPDR Bloomberg Barclays Emerging Markets Local Bond ETF) and SCHP (Schwab U.S. TIPS ETF) are both exchange-traded funds - EBND is a Emerging Markets Bonds fund tracking the Bloomberg Emerging Market Local Currency Government Diversified, while SCHP is a Inflation-Protected Bonds fund tracking the Bloomberg US Treasury Inflation-Linked Bond Index (Series-L). Both are passively managed. Over the past 10 years, EBND returned 1.82%/yr vs 2.60%/yr for SCHP. At a 0.22 correlation, their price movements are largely independent. EBND charges 0.30%/yr vs 0.03%/yr for SCHP.
Performance
EBND vs. SCHP - Performance Comparison
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Returns By Period
In the year-to-date period, EBND achieves a 0.44% return, which is significantly lower than SCHP's 1.42% return. Over the past 10 years, EBND has underperformed SCHP with an annualized return of 1.82%, while SCHP has yielded a comparatively higher 2.60% annualized return.
EBND
- 1D
- 0.34%
- 1M
- 0.64%
- YTD
- 0.44%
- 6M
- 1.64%
- 1Y
- 5.43%
- 3Y*
- 5.36%
- 5Y*
- 0.21%
- 10Y*
- 1.82%
SCHP
- 1D
- 0.04%
- 1M
- -0.18%
- YTD
- 1.42%
- 6M
- 1.48%
- 1Y
- 4.71%
- 3Y*
- 4.14%
- 5Y*
- 1.06%
- 10Y*
- 2.60%
EBND vs. SCHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EBND SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | 0.44% | 15.83% | -2.70% | 9.02% | -11.84% | -9.66% | 4.49% | 10.40% | -6.52% | 13.93% |
SCHP Schwab U.S. TIPS ETF | 1.42% | 6.76% | 1.95% | 3.91% | -12.02% | 5.87% | 10.86% | 8.52% | -1.78% | 3.02% |
Correlation
The correlation between EBND and SCHP is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2011 | 0.22 |
Over the past year, EBND and SCHP have become more correlated (0.45) than their long-term average of 0.22, meaning their price movements have been converging.
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Return for Risk
EBND vs. SCHP — Risk / Return Rank
EBND
SCHP
EBND vs. SCHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND) and Schwab U.S. TIPS ETF (SCHP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EBND | SCHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.25 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.82 | 2.45 | -1.63 |
| Martin ratioReturn relative to average drawdown | 2.63 | 7.41 | -4.77 |
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Drawdowns
EBND vs. SCHP - Drawdown Comparison
The maximum EBND drawdown since its inception was -29.51%, which is greater than SCHP's maximum drawdown of -14.26%. Use the drawdown chart below to compare losses from any high point for EBND and SCHP.
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Drawdown Indicators
| EBND | SCHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.51% | -14.26% | -15.25% |
Max Drawdown (1Y)Largest decline over 1 year | -6.63% | -1.93% | -4.70% |
Max Drawdown (3Y)Largest decline over 3 years | -9.25% | -4.48% | -4.77% |
Max Drawdown (5Y)Largest decline over 5 years | -27.00% | -14.26% | -12.74% |
Max Drawdown (10Y)Largest decline over 10 years | -29.50% | -14.26% | -15.24% |
Current DrawdownCurrent decline from peak | -2.59% | -0.44% | -2.15% |
Average DrawdownAverage peak-to-trough decline | -10.85% | -3.93% | -6.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 0.64% | +1.43% |
Volatility
EBND vs. SCHP - Volatility Comparison
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND) has a higher volatility of 2.61% compared to Schwab U.S. TIPS ETF (SCHP) at 1.02%. This indicates that EBND's price experiences larger fluctuations and is considered to be riskier than SCHP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EBND | SCHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.61% | 1.02% | +1.59% |
Volatility (6M)Calculated over the trailing 6-month period | 6.19% | 2.24% | +3.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.11% | 3.30% | +3.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.00% | 6.12% | +2.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.19% | 5.59% | +3.60% |
EBND vs. SCHP - Expense Ratio Comparison
EBND has a 0.30% expense ratio, which is higher than SCHP's 0.03% expense ratio.
Dividends
EBND vs. SCHP - Dividend Comparison
EBND's dividend yield for the trailing twelve months is around 5.79%, more than SCHP's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EBND SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | 5.79% | 5.54% | 5.89% | 5.26% | 4.75% | 3.83% | 3.67% | 4.68% | 4.70% | 2.00% | 0.00% | 0.00% |
SCHP Schwab U.S. TIPS ETF | 3.99% | 4.06% | 2.99% | 3.02% | 7.19% | 4.39% | 1.11% | 2.02% | 2.26% | 1.90% | 1.38% | 0.28% |
Frequently Asked Questions
EBND and SCHP have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EBND has higher volatility (2.61%) compared to SCHP (1.02%). In terms of maximum drawdown, EBND dropped -29.51% vs SCHP's -14.26%.
On 10-year performance, SCHP leads with 2.60% vs 1.82% for EBND. On fees, SCHP is cheaper at 0.03% per year. On volatility, SCHP has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHP has performed better with a 2.60% return vs 1.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHP is cheaper with a 0.03% expense ratio, compared with 0.30% for EBND.
EBND has the higher dividend yield at 5.79%, compared with 3.99% for SCHP.
EBND is categorized as Emerging Markets Bonds, while SCHP is Inflation-Protected Bonds. EBND tracks Bloomberg Emerging Market Local Currency Government Diversified, while SCHP tracks Bloomberg US Treasury Inflation-Linked Bond Index (Series-L). They also come from different issuers: State Street and Charles Schwab. Their fees differ too: 0.30% for EBND and 0.03% for SCHP.
SCHP currently has the higher Sharpe Ratio (1.44 vs 0.77), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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