HYGI vs. SCHP
HYGI (iShares Inflation Hedged High Yield Bond ETF) and SCHP (Schwab U.S. TIPS ETF) are both Inflation-Protected Bonds funds - HYGI tracks the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross while SCHP tracks the Bloomberg US Treasury Inflation-Linked Bond Index (Series-L). Both are passively managed. Their 0.44 correlation means their historical movements had little consistent relationship. HYGI charges 0.52%/yr vs 0.03%/yr for SCHP.
Performance
HYGI vs. SCHP - Performance Comparison
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Returns By Period
HYGI
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
SCHP
- 1D
- -0.11%
- 1M
- -0.76%
- 6M
- -0.03%
- YTD
- 0.54%
- 1Y
- 1.89%
- 3Y*
- 3.86%
- 5Y*
- 0.30%
- 10Y*
- 2.44%
- ALL TIME*
- 2.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $93.70M | $94.28M | $106.00M |
HYGI vs. SCHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYGI iShares Inflation Hedged High Yield Bond ETF | 0.00% | 6.20% | 9.16% | 11.71% | 0.65% |
SCHP Schwab U.S. TIPS ETF | 0.54% | 6.76% | 1.95% | 3.91% | -4.52% |
Correlation
The correlation between HYGI and SCHP is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.01 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2022 | 0.44 |
The correlation between HYGI and SCHP shifts across timeframes, from -0.01 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYGI vs. SCHP — Risk / Return Rank
HYGI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SCHP
HYGI vs. SCHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Inflation Hedged High Yield Bond ETF (HYGI) 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.
| HYGI | SCHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.13 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.30 | — |
| Martin ratioReturn relative to average drawdown | — | 3.52 | — |
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Drawdowns
HYGI vs. SCHP - Drawdown Comparison
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Drawdown Indicators
| HYGI | SCHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -14.26% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.93% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.70% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.26% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.26% | — |
Current DrawdownCurrent decline from peak | — | -1.30% | — |
Average DrawdownAverage peak-to-trough decline | — | -3.90% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.71% | — |
Volatility
HYGI vs. SCHP - Volatility Comparison
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Volatility by Period
| HYGI | SCHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.70% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.45% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 3.26% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 6.11% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 5.58% | — |
HYGI vs. SCHP - Expense Ratio Comparison
HYGI has a 0.52% expense ratio, which is higher than SCHP's 0.03% expense ratio.
Dividends
HYGI vs. SCHP - Dividend Comparison
HYGI has not paid dividends to shareholders, while SCHP's dividend yield for the trailing twelve months is around 4.51%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGI iShares Inflation Hedged High Yield Bond ETF | 0.50% | 3.41% | 6.08% | 6.22% | 3.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SCHP Schwab U.S. TIPS ETF | 4.17% | 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
HYGI and SCHP have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SCHP is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SCHP is cheaper with a 0.03% expense ratio, compared with 0.52% for HYGI.
SCHP has the higher dividend yield at 4.17%, compared with 0.50% for HYGI.
HYGI tracks BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross, while SCHP tracks Bloomberg US Treasury Inflation-Linked Bond Index (Series-L). They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.52% for HYGI and 0.03% for SCHP.
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