GXC vs. SCHP
GXC (SPDR S&P China ETF) and SCHP (Schwab U.S. TIPS ETF) are both exchange-traded funds - GXC is a China Equities fund tracking the S&P China BMI Index, 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, GXC returned 4.30%/yr vs 2.47%/yr for SCHP. At a correlation of -0.06, they often move in opposite directions. GXC charges 0.59%/yr vs 0.03%/yr for SCHP.
Performance
GXC vs. SCHP - Performance Comparison
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Returns By Period
In the year-to-date period, GXC achieves a -7.16% return, which is significantly lower than SCHP's 1.00% return. Over the past 10 years, GXC has outperformed SCHP with an annualized return of 4.30%, while SCHP has yielded a comparatively lower 2.47% annualized return.
GXC
- 1D
- 1.87%
- 1M
- 0.03%
- 6M
- -11.66%
- YTD
- -7.16%
- 1Y
- -0.19%
- 3Y*
- 9.25%
- 5Y*
- -4.10%
- 10Y*
- 4.30%
- ALL TIME*
- 4.81%
SCHP
- 1D
- -0.19%
- 1M
- -0.22%
- 6M
- 0.89%
- YTD
- 1.00%
- 1Y
- 3.05%
- 3Y*
- 3.68%
- 5Y*
- 0.68%
- 10Y*
- 2.47%
- ALL TIME*
- 2.76%
GXC vs. SCHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GXC SPDR S&P China ETF | -7.16% | 30.84% | 14.60% | -9.93% | -22.12% | -19.70% | 28.31% | 23.07% | -19.39% | 51.66% |
SCHP Schwab U.S. TIPS ETF | 1.00% | 6.76% | 1.95% | 3.91% | -12.02% | 5.87% | 10.86% | 8.52% | -1.78% | 3.02% |
Correlation
The correlation between GXC and SCHP is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2010 | -0.06 |
The correlation between GXC and SCHP shifts across timeframes, from -0.06 (all time) to 0.12 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GXC vs. SCHP — Risk / Return Rank
GXC
SCHP
GXC vs. SCHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P China ETF (GXC) 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.
| GXC | SCHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.16 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 1.59 | -1.60 |
| Martin ratioReturn relative to average drawdown | -0.02 | 4.53 | -4.56 |
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Drawdowns
GXC vs. SCHP - Drawdown Comparison
The maximum GXC drawdown since its inception was -71.96%, which is greater than SCHP's maximum drawdown of -14.26%. Use the drawdown chart below to compare losses from any high point for GXC and SCHP.
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Drawdown Indicators
| GXC | SCHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.96% | -14.26% | -57.70% |
Max Drawdown (1Y)Largest decline over 1 year | -17.77% | -1.93% | -15.84% |
Max Drawdown (3Y)Largest decline over 3 years | -25.54% | -4.48% | -21.06% |
Max Drawdown (5Y)Largest decline over 5 years | -50.93% | -14.26% | -36.67% |
Max Drawdown (10Y)Largest decline over 10 years | -60.23% | -14.26% | -45.97% |
Current DrawdownCurrent decline from peak | -34.39% | -0.85% | -33.54% |
Average DrawdownAverage peak-to-trough decline | -28.85% | -3.91% | -24.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.08% | 0.67% | +7.41% |
Volatility
GXC vs. SCHP - Volatility Comparison
SPDR S&P China ETF (GXC) has a higher volatility of 5.87% compared to Schwab U.S. TIPS ETF (SCHP) at 0.98%. This indicates that GXC'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
| GXC | SCHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.87% | 0.98% | +4.89% |
Volatility (6M)Calculated over the trailing 6-month period | 14.02% | 2.45% | +11.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.44% | 3.36% | +16.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.00% | 6.11% | +22.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.06% | 5.59% | +20.47% |
GXC vs. SCHP - Expense Ratio Comparison
GXC has a 0.59% expense ratio, which is higher than SCHP's 0.03% expense ratio.
Dividends
GXC vs. SCHP - Dividend Comparison
GXC's dividend yield for the trailing twelve months is around 2.23%, less than SCHP's 4.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GXC SPDR S&P China ETF | 2.23% | 2.40% | 2.81% | 3.70% | 2.67% | 1.35% | 1.04% | 1.60% | 2.03% | 1.84% | 2.05% | 2.85% |
SCHP Schwab U.S. TIPS ETF | 4.49% | 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
GXC and SCHP have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GXC has higher volatility (5.87%) compared to SCHP (0.98%). In terms of maximum drawdown, GXC dropped -71.96% vs SCHP's -14.26%.
On 10-year performance, GXC leads with 4.30% vs 2.47% for SCHP. On fees, SCHP is cheaper at 0.03% per year. On volatility, SCHP has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GXC has performed better with a 4.30% return vs 2.47%. 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 0.59% for GXC.
SCHP has the higher dividend yield at 4.49%, compared with 2.23% for GXC.
GXC is categorized as China Equities, while SCHP is Inflation-Protected Bonds. GXC tracks S&P China BMI Index, 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: 0.59% for GXC and 0.03% for SCHP.
SCHP currently has the higher Sharpe Ratio (0.91 vs -0.01), 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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