IVOL vs. SCHP
IVOL (Quadratic Interest Rate Volatility & Inflation Hedge ETF) and SCHP (Schwab U.S. TIPS ETF) are both Inflation-Protected Bonds funds. IVOL is actively managed, while SCHP is passively managed. Over the past 5 years, IVOL returned -5.87%/yr vs 0.30%/yr for SCHP. Their 0.40 correlation means their historical movements had little consistent relationship. IVOL charges 0.99%/yr vs 0.03%/yr for SCHP.
Performance
IVOL vs. SCHP - 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 SCHP's 0.54% 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%
SCHP
- 1D
- -0.11%
- 1M
- -0.76%
- 6M
- -0.03%
- YTD
- 0.54%
- 1Y
- 1.89%
- 3Y*
- 3.86%
- 5Y*
- 0.30%
- 10Y*
- 2.44%
- ALL TIME*
- 2.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.46M | $1.22M | $2.07M | |
| $93.70M | $94.28M | $106.00M |
IVOL vs. SCHP - 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% |
SCHP Schwab U.S. TIPS ETF | 0.54% | 6.76% | 1.95% | 3.91% | -12.02% | 5.87% | 10.86% | 4.58% |
Correlation
The correlation between IVOL and SCHP is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.42 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.44 |
Correlation (All Time) Calculated using the full available price history since May 14, 2019 | 0.40 |
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Return for Risk
IVOL vs. SCHP — Risk / Return Rank
IVOL
SCHP
IVOL vs. SCHP - 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. 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.
| IVOL | SCHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.69 | ||
| Sortino ratioReturn per unit of downside risk | -2.39 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.13 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 1.30 | -1.81 |
| Martin ratioReturn relative to average drawdown | -0.99 | 3.52 | -4.51 |
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Drawdowns
IVOL vs. SCHP - Drawdown Comparison
The maximum IVOL drawdown since its inception was -31.16%, which is greater than SCHP's maximum drawdown of -14.26%. Use the drawdown chart below to compare losses from any high point for IVOL and SCHP.
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Drawdown Indicators
| IVOL | SCHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.16% | -14.26% | -16.90% |
Max Drawdown (1Y)Largest decline over 1 year | -12.17% | -1.93% | -10.24% |
Max Drawdown (3Y)Largest decline over 3 years | -14.48% | -3.70% | -10.78% |
Max Drawdown (5Y)Largest decline over 5 years | -30.07% | -14.26% | -15.81% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.26% | — |
Current DrawdownCurrent decline from peak | -27.12% | -1.30% | -25.82% |
Average DrawdownAverage peak-to-trough decline | -13.60% | -3.90% | -9.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.22% | 0.71% | +5.51% |
Volatility
IVOL vs. SCHP - Volatility Comparison
Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) has a higher volatility of 1.74% compared to Schwab U.S. TIPS ETF (SCHP) at 0.70%. This indicates that IVOL'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
| IVOL | SCHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.74% | 0.70% | +1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 4.95% | 2.45% | +2.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.74% | 3.26% | +3.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.85% | 6.11% | +6.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.91% | 5.58% | +6.33% |
IVOL vs. SCHP - Expense Ratio Comparison
IVOL has a 0.99% expense ratio, which is higher than SCHP's 0.03% expense ratio.
Dividends
IVOL vs. SCHP - Dividend Comparison
IVOL's dividend yield for the trailing twelve months is around 3.88%, less than SCHP's 4.51% 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% |
SCHP Schwab U.S. TIPS ETF | 4.17% | 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
IVOL and SCHP have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVOL has higher volatility (1.74%) compared to SCHP (0.70%). In terms of maximum drawdown, IVOL dropped -31.16% vs SCHP's -14.26%.
On 5-year performance, SCHP leads with 0.30% vs -5.87% for IVOL. On fees, SCHP is cheaper at 0.03% per year. On volatility, SCHP has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SCHP has performed better with a 0.30% return vs -5.87%. 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 0.99% for IVOL.
SCHP has the higher dividend yield at 4.17%, compared with 3.88% for IVOL.
They also come from different issuers: CICC and Charles Schwab. Their fees differ too: 0.99% for IVOL and 0.03% for SCHP.
SCHP currently has the higher Sharpe Ratio (0.77 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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