IVOL vs. SCHD
IVOL (Quadratic Interest Rate Volatility & Inflation Hedge ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - IVOL is a Inflation-Protected Bonds fund actively managed by CICC, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. IVOL is actively managed, while SCHD is passively managed. Over the past 5 years, IVOL returned -5.87%/yr vs 9.54%/yr for SCHD. Their 0.03 correlation means their historical movements had little consistent relationship. IVOL charges 0.99%/yr vs 0.06%/yr for SCHD.
Performance
IVOL vs. SCHD - Performance Comparison
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Returns By Period
In the year-to-date period, IVOL achieves a -7.33% return, which is significantly lower than SCHD's 24.03% return.
IVOL
- 1D
- 0.17%
- 1M
- 0.36%
- 6M
- -6.64%
- YTD
- -7.33%
- 1Y
- -7.62%
- 3Y*
- -1.90%
- 5Y*
- -5.87%
- 10Y*
- —
- ALL TIME*
- -1.42%
SCHD
- 1D
- 0.18%
- 1M
- 3.33%
- 6M
- 14.09%
- YTD
- 24.03%
- 1Y
- 31.54%
- 3Y*
- 14.19%
- 5Y*
- 9.54%
- 10Y*
- 12.76%
- ALL TIME*
- 13.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.46M | $1.22M | $2.07M | |
| $786.88M | $715.86M | $685.58M |
IVOL vs. SCHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | -7.33% | 11.97% | -11.07% | -5.18% | -12.69% | -0.31% | 14.56% | 3.35% |
SCHD Schwab U.S. Dividend Equity ETF | 24.03% | 4.34% | 11.66% | 4.54% | -3.26% | 29.87% | 15.03% | 15.20% |
Correlation
The correlation between IVOL and SCHD is 0.04, 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. | 0.04 |
Correlation (3Y) Balances recent behavior with more history. | -0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.01 |
Correlation (All Time) Calculated using the full available price history since May 14, 2019 | 0.03 |
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Return for Risk
IVOL vs. SCHD — Risk / Return Rank
IVOL
SCHD
IVOL vs. SCHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) and Schwab U.S. Dividend Equity ETF (SCHD). 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.
| IVOL | SCHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.73 | ||
| Sortino ratioReturn per unit of downside risk | -5.63 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.51 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 6.74 | -7.24 |
| Martin ratioReturn relative to average drawdown | -0.99 | 17.01 | -18.00 |
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Drawdowns
IVOL vs. SCHD - Drawdown Comparison
The maximum IVOL drawdown since its inception was -31.16%, smaller than the maximum SCHD drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for IVOL and SCHD.
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Drawdown Indicators
| IVOL | SCHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.16% | -33.37% | +2.21% |
Max Drawdown (1Y)Largest decline over 1 year | -12.17% | -4.61% | -7.56% |
Max Drawdown (3Y)Largest decline over 3 years | -14.48% | -16.13% | +1.65% |
Max Drawdown (5Y)Largest decline over 5 years | -30.07% | -16.85% | -13.22% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.37% | — |
Current DrawdownCurrent decline from peak | -27.12% | -1.24% | -25.88% |
Average DrawdownAverage peak-to-trough decline | -13.60% | -3.30% | -10.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.22% | 1.82% | +4.40% |
Volatility
IVOL vs. SCHD - Volatility Comparison
The current volatility for Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) is 1.74%, while Schwab U.S. Dividend Equity ETF (SCHD) has a volatility of 4.11%. This indicates that IVOL experiences smaller price fluctuations and is considered to be less risky than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVOL | SCHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.74% | 4.11% | -2.37% |
Volatility (6M)Calculated over the trailing 6-month period | 4.95% | 8.11% | -3.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.74% | 11.13% | -4.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.85% | 14.39% | -1.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.91% | 16.72% | -4.81% |
IVOL vs. SCHD - Expense Ratio Comparison
IVOL has a 0.99% expense ratio, which is higher than SCHD's 0.06% expense ratio.
Dividends
IVOL vs. SCHD - Dividend Comparison
IVOL's dividend yield for the trailing twelve months is around 3.88%, more than SCHD's 3.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | 3.88% | 3.61% | 3.83% | 3.73% | 3.92% | 3.93% | 3.44% | 2.02% | 0.00% | 0.00% | 0.00% | 0.00% |
SCHD Schwab U.S. Dividend Equity ETF | 3.13% | 3.82% | 3.64% | 3.49% | 3.39% | 2.78% | 3.16% | 2.98% | 3.06% | 2.63% | 2.89% | 2.97% |
Frequently Asked Questions
IVOL and SCHD have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHD has higher volatility (4.11%) compared to IVOL (1.74%). In terms of maximum drawdown, IVOL dropped -31.16% vs SCHD's -33.37%.
On 5-year performance, SCHD leads with 9.54% vs -5.87% for IVOL. On fees, SCHD is cheaper at 0.06% per year. On volatility, IVOL has been the lower-risk option at 1.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SCHD has performed better with a 9.54% return vs -5.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHD is cheaper with a 0.06% expense ratio, compared with 0.99% for IVOL.
IVOL has the higher dividend yield at 3.88%, compared with 3.13% for SCHD.
IVOL is categorized as Inflation-Protected Bonds, while SCHD is Dividend. They also come from different issuers: CICC and Charles Schwab. Their fees differ too: 0.99% for IVOL and 0.06% for SCHD.
SCHD currently has the higher Sharpe Ratio (2.81 vs -0.92), 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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