ITPS.L vs. SCHP
ITPS.L (iShares $ TIPS UCITS ETF USD (Acc)) and SCHP (Schwab U.S. TIPS ETF) are both Inflation-Protected Bonds funds - ITPS.L tracks the Bloomberg Gbl Infl Linked US TIPS TR USD while SCHP tracks the Bloomberg US Treasury Inflation-Linked Bond Index (Series-L). Both are passively managed. Over the past 10 years, ITPS.L returned 3.38%/yr vs 3.42%/yr for SCHP. A 0.73 correlation means they provide meaningful diversification when combined. ITPS.L charges 0.12%/yr vs 0.03%/yr for SCHP.
Performance
ITPS.L vs. SCHP - Performance Comparison
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Different Trading Currencies
ITPS.L is traded in GBP, while SCHP is traded in USD. To make them comparable, the SCHP values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, ITPS.L achieves a 1.40% return, which is significantly lower than SCHP's 2.02% return. Both investments have delivered pretty close results over the past 10 years, with ITPS.L having a 3.38% annualized return and SCHP not far ahead at 3.42%.
ITPS.L
- 1D
- 0.07%
- 1M
- 0.85%
- YTD
- 1.40%
- 6M
- 0.52%
- 1Y
- 5.75%
- 3Y*
- 1.16%
- 5Y*
- 2.04%
- 10Y*
- 3.38%
SCHP
- 1D
- 0.00%
- 1M
- 0.97%
- YTD
- 2.02%
- 6M
- 0.55%
- 1Y
- 5.85%
- 3Y*
- 1.38%
- 5Y*
- 2.22%
- 10Y*
- 3.42%
ITPS.L vs. SCHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ITPS.L iShares $ TIPS UCITS ETF USD (Acc) | 1.40% | -0.29% | 3.57% | -2.08% | -2.35% | 7.75% | 7.12% | 5.33% | 4.25% | -6.03% |
SCHP Schwab U.S. TIPS ETF | 2.02% | -0.84% | 3.73% | -1.29% | -1.56% | 6.87% | 7.61% | 4.39% | 4.04% | -5.89% |
Correlation
The correlation between ITPS.L and SCHP is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Aug 6, 2010 | 0.73 |
The correlation between ITPS.L and SCHP has been stable across timeframes, ranging from 0.66 to 0.75 - a consistent structural relationship.
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Return for Risk
ITPS.L vs. SCHP — Risk / Return Rank
ITPS.L
SCHP
ITPS.L vs. SCHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ TIPS UCITS ETF USD (Acc) (ITPS.L) 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.
| ITPS.L | SCHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.17 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 1.00 | +0.09 |
| Martin ratioReturn relative to average drawdown | 2.78 | 2.68 | +0.09 |
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
| ITPS.L | SCHP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.92 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.25 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | 0.34 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.40 | -0.12 |
Drawdowns
ITPS.L vs. SCHP - Drawdown Comparison
The maximum ITPS.L drawdown since its inception was -37.27%, which is greater than SCHP's maximum drawdown of -16.93%. Use the drawdown chart below to compare losses from any high point for ITPS.L and SCHP.
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Drawdown Indicators
| ITPS.L | SCHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.27% | -16.93% | -20.34% |
Max Drawdown (1Y)Largest decline over 1 year | -5.26% | -5.87% | +0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -7.85% | -8.03% | +0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -15.72% | -15.75% | +0.03% |
Max Drawdown (10Y)Largest decline over 10 years | -15.72% | -15.75% | +0.03% |
Current DrawdownCurrent decline from peak | -7.94% | -7.47% | -0.47% |
Average DrawdownAverage peak-to-trough decline | -10.69% | -6.64% | -4.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 2.18% | -0.12% |
Volatility
ITPS.L vs. SCHP - Volatility Comparison
iShares $ TIPS UCITS ETF USD (Acc) (ITPS.L) has a higher volatility of 1.70% compared to Schwab U.S. TIPS ETF (SCHP) at 1.42%. This indicates that ITPS.L'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
| ITPS.L | SCHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.70% | 1.42% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 4.89% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.30% | 6.39% | -0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.76% | 8.93% | -0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.34% | 10.04% | +0.30% |
ITPS.L vs. SCHP - Expense Ratio Comparison
ITPS.L has a 0.12% 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
ITPS.L vs. SCHP - Dividend Comparison
ITPS.L has not paid dividends to shareholders, while SCHP's dividend yield for the trailing twelve months is around 3.99%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ITPS.L iShares $ TIPS UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 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
ITPS.L and SCHP have a correlation of 0.66, 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 0.12% for ITPS.L.
ITPS.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, 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: 0.12% for ITPS.L and 0.03% for SCHP.
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