IRVH vs. SCHP

Last updated Jun 3, 2026

IRVH (Global X Interest Rate Volatility & Inflation Hedge ETF) and SCHP (Schwab U.S. TIPS ETF) are both Inflation-Protected Bonds funds. IRVH is actively managed, while SCHP is passively managed. Over the past 3 years, IRVH returned -0.64%/yr vs 4.10%/yr for SCHP. A 0.68 correlation means they provide meaningful diversification when combined. IRVH charges 0.50%/yr vs 0.05%/yr for SCHP.

Performance

IRVH vs. SCHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Interest Rate Volatility & Inflation Hedge ETF (IRVH) and Schwab U.S. TIPS ETF (SCHP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IRVH achieves a -2.97% return, which is significantly lower than SCHP's 1.76% return.

IRVH

• 1D: -0.15%
• 1M: -1.21%
• YTD: -2.97%
• 6M: -2.93%
• 1Y: -1.44%
• 3Y*: -0.64%
• 5Y*: —
• 10Y*: —

SCHP

• 1D: 0.00%
• 1M: -0.10%
• YTD: 1.76%
• 6M: 1.48%
• 1Y: 5.19%
• 3Y*: 4.10%
• 5Y*: 1.25%
• 10Y*: 2.68%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IRVH vs. SCHP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IRVH Global X Interest Rate Volatility & Inflation Hedge ETF	-2.97%	7.71%	-5.49%	0.83%	-6.69%
SCHP Schwab U.S. TIPS ETF	1.76%	6.76%	1.95%	3.91%	-3.69%

Correlation

The correlation between IRVH and SCHP is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jul 7, 2022	0.68

The correlation between IRVH and SCHP has been stable across timeframes, ranging from 0.59 to 0.68 - a consistent structural relationship.

Return for Risk

IRVH vs. SCHP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IRVH

IRVH Risk / Return Rank: 6
IRVH Sharpe Ratio Rank: 6
IRVH Sortino Ratio Rank: 5
IRVH Omega Ratio Rank: 5
IRVH Calmar Ratio Rank: 6
IRVH Martin Ratio Rank: 5

SCHP

SCHP Risk / Return Rank: 47
SCHP Sharpe Ratio Rank: 45
SCHP Sortino Ratio Rank: 49
SCHP Omega Ratio Rank: 43
SCHP Calmar Ratio Rank: 51
SCHP Martin Ratio Rank: 47

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IRVH vs. SCHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Interest Rate Volatility & Inflation Hedge ETF (IRVH) 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.

	IRVH	SCHP	Difference
Sharpe ratio Return per unit of total volatility	-0.29	1.58	-1.87
Sortino ratio Return per unit of downside risk	-0.38	2.41	-2.79
Omega ratio Gain probability vs. loss probability	0.96	1.28	-0.32
Calmar ratio Return relative to maximum drawdown	-0.31	2.55	-2.86
Martin ratio Return relative to average drawdown	-0.65	7.78	-8.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IRVH vs. SCHP - Sharpe Ratio Comparison

The current IRVH Sharpe Ratio is -0.29, which is lower than the SCHP Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of IRVH and SCHP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IRVH	SCHP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.29	1.58	-1.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.20	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.21	0.51	-0.72

Drawdowns

IRVH vs. SCHP - Drawdown Comparison

The maximum IRVH drawdown since its inception was -14.98%, which is greater than SCHP's maximum drawdown of -14.26%. Use the drawdown chart below to compare losses from any high point for IRVH and SCHP.

Drawdown Indicators

	IRVH	SCHP	Difference
Max Drawdown Largest peak-to-trough decline	-14.98%	-14.26%	-0.72%
Max Drawdown (1Y) Largest decline over 1 year	-4.89%	-1.93%	-2.96%
Max Drawdown (3Y) Largest decline over 3 years	-8.03%	-4.48%	-3.55%
Max Drawdown (5Y) Largest decline over 5 years	—	-14.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-14.26%	—
Current Drawdown Current decline from peak	-9.99%	-0.10%	-9.89%
Average Drawdown Average peak-to-trough decline	-9.72%	-3.94%	-5.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	0.63%	+1.68%

Volatility

IRVH vs. SCHP - Volatility Comparison

The current volatility for Global X Interest Rate Volatility & Inflation Hedge ETF (IRVH) is 0.72%, while Schwab U.S. TIPS ETF (SCHP) has a volatility of 0.91%. This indicates that IRVH experiences smaller price fluctuations and is considered to be less risky than SCHP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IRVH	SCHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.72%	0.91%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	3.28%	2.22%	+1.06%
Volatility (1Y) Calculated over the trailing 1-year period	4.95%	3.31%	+1.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.85%	6.13%	+2.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.85%	5.59%	+3.26%

IRVH vs. SCHP - Expense Ratio Comparison

IRVH has a 0.50% expense ratio, which is higher than SCHP's 0.05% expense ratio.

Dividends

IRVH vs. SCHP - Dividend Comparison

IRVH's dividend yield for the trailing twelve months is around 5.54%, more than SCHP's 3.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IRVH Global X Interest Rate Volatility & Inflation Hedge ETF	5.54%	4.89%	3.34%	3.69%	2.73%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHP Schwab U.S. TIPS ETF	3.98%	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

Can I hold both IRVH and SCHP in my portfolio?

IRVH and SCHP have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IRVH or SCHP?

SCHP has higher volatility (0.91%) compared to IRVH (0.72%). In terms of maximum drawdown, IRVH dropped -14.98% vs SCHP's -14.26%.

Which ETF is better, IRVH or SCHP?

On 3-year performance, SCHP leads with 4.10% vs -0.64% for IRVH. On fees, SCHP is cheaper at 0.05% per year. On volatility, IRVH has been the lower-risk option at 0.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IRVH or SCHP?

Over the 3-year period, SCHP has performed better with a 4.10% return vs -0.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IRVH or SCHP?

SCHP is cheaper with a 0.05% expense ratio, compared with 0.50% for IRVH.

Which ETF pays a higher dividend yield, IRVH or SCHP?

IRVH has the higher dividend yield at 5.54%, compared with 3.98% for SCHP.

What is the main difference between IRVH and SCHP?

They also come from different issuers: Global X and Charles Schwab. Their fees differ too: 0.50% for IRVH and 0.05% for SCHP.

Which has better risk-adjusted returns?

SCHP currently has the higher Sharpe Ratio (1.58 vs -0.29), 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.