IBIJ vs. SCHP
IBIJ (iShares iBonds Oct 2033 Term TIPS ETF) and SCHP (Schwab U.S. TIPS ETF) are both Inflation-Protected Bonds funds. Over the past year, IBIJ returned 4.51% vs 4.08% for SCHP. With a 0.96 correlation, they move nearly in lockstep. IBIJ charges 0.10%/yr vs 0.03%/yr for SCHP.
Performance
IBIJ vs. SCHP - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IBIJ having a 1.61% return and SCHP slightly higher at 1.65%.
IBIJ
- 1D
- 0.09%
- 1M
- -0.33%
- YTD
- 1.61%
- 6M
- 1.33%
- 1Y
- 4.51%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SCHP
- 1D
- 0.11%
- 1M
- -0.10%
- YTD
- 1.65%
- 6M
- 1.42%
- 1Y
- 4.08%
- 3Y*
- 4.05%
- 5Y*
- 1.06%
- 10Y*
- 2.47%
IBIJ vs. SCHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBIJ iShares iBonds Oct 2033 Term TIPS ETF | 1.61% | 8.59% | 0.69% | 4.98% |
SCHP Schwab U.S. TIPS ETF | 1.65% | 6.76% | 1.95% | 3.46% |
Correlation
The correlation between IBIJ and SCHP is 0.95, 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 | 0.95 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2023 | 0.96 |
The correlation between IBIJ and SCHP has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
IBIJ vs. SCHP — Risk / Return Rank
IBIJ
SCHP
IBIJ vs. SCHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2033 Term TIPS ETF (IBIJ) 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.
| IBIJ | SCHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.21 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 2.12 | -0.17 |
| Martin ratioReturn relative to average drawdown | 6.23 | 6.28 | -0.04 |
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Drawdowns
IBIJ vs. SCHP - Drawdown Comparison
The maximum IBIJ drawdown since its inception was -5.27%, smaller than the maximum SCHP drawdown of -14.26%. Use the drawdown chart below to compare losses from any high point for IBIJ and SCHP.
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Drawdown Indicators
| IBIJ | SCHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.27% | -14.26% | +8.99% |
Max Drawdown (1Y)Largest decline over 1 year | -2.32% | -1.93% | -0.39% |
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 | -0.61% | -0.21% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -1.29% | -3.92% | +2.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 0.65% | +0.07% |
Volatility
IBIJ vs. SCHP - Volatility Comparison
iShares iBonds Oct 2033 Term TIPS ETF (IBIJ) has a higher volatility of 1.51% compared to Schwab U.S. TIPS ETF (SCHP) at 1.20%. This indicates that IBIJ'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
| IBIJ | SCHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 1.20% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 2.41% | +0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.97% | 3.36% | +0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.87% | 6.12% | -0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.87% | 5.59% | +0.28% |
IBIJ vs. SCHP - Expense Ratio Comparison
IBIJ 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
IBIJ vs. SCHP - Dividend Comparison
IBIJ's dividend yield for the trailing twelve months is around 3.93%, less than SCHP's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIJ iShares iBonds Oct 2033 Term TIPS ETF | 3.93% | 4.66% | 4.42% | 0.60% | 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 0.95, IBIJ 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.
IBIJ has higher volatility (1.51%) compared to SCHP (1.20%). In terms of maximum drawdown, IBIJ dropped -5.27% vs SCHP's -14.26%.
On 1-year performance, IBIJ leads with 4.51% vs 4.08% for SCHP. On fees, SCHP is cheaper at 0.03% per year. On volatility, SCHP has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIJ has performed better with a 4.51% return vs 4.08%. 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 IBIJ.
SCHP has the higher dividend yield at 3.99%, compared with 3.93% for IBIJ.
They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.10% for IBIJ and 0.03% for SCHP.
SCHP currently has the higher Sharpe Ratio (1.22 vs 1.14), 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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