IBII vs. SCHP
IBII (iShares iBonds Oct 2032 Term TIPS ETF) and SCHP (Schwab U.S. TIPS ETF) are both Inflation-Protected Bonds funds - IBII tracks the ICE 2032 Maturity US Inflation-Linked Treasury Index while SCHP tracks the Bloomberg US Treasury Inflation-Linked Bond Index (Series-L). Both are passively managed. Over the past year, IBII returned 5.28% vs 4.83% for SCHP. With a 0.95 correlation, they move nearly in lockstep. IBII charges 0.10%/yr vs 0.03%/yr for SCHP.
Performance
IBII vs. SCHP - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IBII having a 1.63% return and SCHP slightly lower at 1.61%.
IBII
- 1D
- 0.02%
- 1M
- -0.38%
- YTD
- 1.63%
- 6M
- 1.21%
- 1Y
- 5.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SCHP
- 1D
- 0.00%
- 1M
- 0.05%
- YTD
- 1.61%
- 6M
- 1.25%
- 1Y
- 4.83%
- 3Y*
- 3.99%
- 5Y*
- 1.13%
- 10Y*
- 2.66%
IBII vs. SCHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBII iShares iBonds Oct 2032 Term TIPS ETF | 1.63% | 8.65% | 1.21% | 4.85% |
SCHP Schwab U.S. TIPS ETF | 1.61% | 6.76% | 1.95% | 4.05% |
Correlation
The correlation between IBII and SCHP is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023 | 0.95 |
The correlation between IBII and SCHP has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
IBII vs. SCHP — Risk / Return Rank
IBII
SCHP
IBII vs. SCHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2032 Term TIPS ETF (IBII) 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.
| IBII | SCHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.26 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.68 | 2.51 | +0.16 |
| Martin ratioReturn relative to average drawdown | 9.32 | 7.67 | +1.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBII | SCHP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 1.48 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.19 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.48 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.12 | 0.51 | +0.62 |
Drawdowns
IBII vs. SCHP - Drawdown Comparison
The maximum IBII drawdown since its inception was -4.65%, smaller than the maximum SCHP drawdown of -14.26%. Use the drawdown chart below to compare losses from any high point for IBII and SCHP.
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Drawdown Indicators
| IBII | SCHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.65% | -14.26% | +9.61% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -1.93% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.48% | — |
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 | -0.65% | -0.25% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -1.12% | -3.94% | +2.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.63% | -0.05% |
Volatility
IBII vs. SCHP - Volatility Comparison
iShares iBonds Oct 2032 Term TIPS ETF (IBII) and Schwab U.S. TIPS ETF (SCHP) have volatilities of 0.89% and 0.89%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBII | SCHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 0.89% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 2.20% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.42% | 3.29% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.42% | 6.12% | -0.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.42% | 5.59% | -0.17% |
IBII vs. SCHP - Expense Ratio Comparison
IBII has a 0.10% expense ratio, which is higher than SCHP's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBII vs. SCHP - Dividend Comparison
IBII's dividend yield for the trailing twelve months is around 4.05%, more than SCHP's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBII iShares iBonds Oct 2032 Term TIPS ETF | 4.05% | 4.80% | 4.76% | 1.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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
With a correlation of 0.93, IBII and SCHP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SCHP has higher volatility (0.89%) compared to IBII (0.89%). In terms of maximum drawdown, IBII dropped -4.65% vs SCHP's -14.26%.
On 1-year performance, IBII leads with 5.28% vs 4.83% for SCHP. On fees, SCHP is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBII has performed better with a 5.28% return vs 4.83%. 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 0.10% for IBII.
IBII has the higher dividend yield at 4.05%, compared with 3.99% for SCHP.
IBII tracks ICE 2032 Maturity US Inflation-Linked Treasury Index, 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: 0.10% for IBII and 0.03% for SCHP.
IBII currently has the higher Sharpe Ratio (1.56 vs 1.48), 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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