LTPZ vs. SCHP
LTPZ (PIMCO 15+ Year US TIPS Index ETF) and SCHP (Schwab U.S. TIPS ETF) are both Inflation-Protected Bonds funds - LTPZ tracks the ICE BofA US Inflation-Linked Treasury (15+ Y) while SCHP tracks the Bloomberg US Treasury Inflation-Linked Bond Index (Series-L). Both are passively managed. Over the past 10 years, LTPZ returned 0.66%/yr vs 2.58%/yr for SCHP. Their correlation of 0.91 suggests significant overlap in exposure. LTPZ charges 0.20%/yr vs 0.03%/yr for SCHP.
Performance
LTPZ vs. SCHP - Performance Comparison
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Returns By Period
In the year-to-date period, LTPZ achieves a 0.42% return, which is significantly lower than SCHP's 1.38% return. Over the past 10 years, LTPZ has underperformed SCHP with an annualized return of 0.66%, while SCHP has yielded a comparatively higher 2.58% annualized return.
LTPZ
- 1D
- 1.05%
- 1M
- 1.11%
- YTD
- 0.42%
- 6M
- -0.15%
- 1Y
- 4.41%
- 3Y*
- -1.03%
- 5Y*
- -5.52%
- 10Y*
- 0.66%
SCHP
- 1D
- 0.34%
- 1M
- -0.18%
- YTD
- 1.38%
- 6M
- 1.29%
- 1Y
- 4.99%
- 3Y*
- 3.96%
- 5Y*
- 1.06%
- 10Y*
- 2.58%
LTPZ vs. SCHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year US TIPS Index ETF | 0.42% | 4.00% | -4.80% | 0.96% | -31.71% | 7.02% | 24.89% | 17.47% | -7.22% | 9.07% |
SCHP Schwab U.S. TIPS ETF | 1.38% | 6.76% | 1.95% | 3.91% | -12.02% | 5.87% | 10.86% | 8.52% | -1.78% | 3.02% |
Correlation
The correlation between LTPZ and SCHP is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2010 | 0.91 |
The correlation between LTPZ and SCHP has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.
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Return for Risk
LTPZ vs. SCHP — Risk / Return Rank
LTPZ
SCHP
LTPZ vs. SCHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO 15+ Year US TIPS Index ETF (LTPZ) 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.
| LTPZ | SCHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.04 | ||
| Sortino ratioReturn per unit of downside risk | -1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.27 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.63 | 2.60 | -1.97 |
| Martin ratioReturn relative to average drawdown | 1.35 | 7.85 | -6.50 |
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Drawdowns
LTPZ vs. SCHP - Drawdown Comparison
The maximum LTPZ drawdown since its inception was -40.99%, which is greater than SCHP's maximum drawdown of -14.26%. Use the drawdown chart below to compare losses from any high point for LTPZ and SCHP.
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Drawdown Indicators
| LTPZ | SCHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.99% | -14.26% | -26.73% |
Max Drawdown (1Y)Largest decline over 1 year | -7.00% | -1.93% | -5.07% |
Max Drawdown (3Y)Largest decline over 3 years | -16.27% | -4.48% | -11.79% |
Max Drawdown (5Y)Largest decline over 5 years | -40.99% | -14.26% | -26.73% |
Max Drawdown (10Y)Largest decline over 10 years | -40.99% | -14.26% | -26.73% |
Current DrawdownCurrent decline from peak | -32.73% | -0.48% | -32.25% |
Average DrawdownAverage peak-to-trough decline | -12.43% | -3.93% | -8.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 0.64% | +2.63% |
Volatility
LTPZ vs. SCHP - Volatility Comparison
PIMCO 15+ Year US TIPS Index ETF (LTPZ) has a higher volatility of 2.55% compared to Schwab U.S. TIPS ETF (SCHP) at 1.02%. This indicates that LTPZ'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
| LTPZ | SCHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.55% | 1.02% | +1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 6.55% | 2.26% | +4.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.20% | 3.31% | +5.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.88% | 6.12% | +9.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.07% | 5.59% | +9.48% |
LTPZ vs. SCHP - Expense Ratio Comparison
LTPZ has a 0.20% 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
LTPZ vs. SCHP - Dividend Comparison
LTPZ's dividend yield for the trailing twelve months is around 5.23%, more than SCHP's 4.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year US TIPS Index ETF | 5.23% | 4.64% | 3.71% | 3.71% | 8.38% | 3.56% | 1.42% | 1.74% | 3.05% | 2.25% | 2.32% | 0.71% |
SCHP Schwab U.S. TIPS ETF | 4.00% | 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
LTPZ and SCHP have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LTPZ has higher volatility (2.55%) compared to SCHP (1.02%). In terms of maximum drawdown, LTPZ dropped -40.99% vs SCHP's -14.26%.
On 10-year performance, SCHP leads with 2.58% vs 0.66% for LTPZ. On fees, SCHP is cheaper at 0.03% per year. On volatility, SCHP has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHP has performed better with a 2.58% return vs 0.66%. 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 0.20% for LTPZ.
LTPZ has the higher dividend yield at 5.23%, compared with 4.00% for SCHP.
LTPZ tracks ICE BofA US Inflation-Linked Treasury (15+ Y), while SCHP tracks Bloomberg US Treasury Inflation-Linked Bond Index (Series-L). They also come from different issuers: PIMCO and Charles Schwab. Their fees differ too: 0.20% for LTPZ and 0.03% for SCHP.
SCHP currently has the higher Sharpe Ratio (1.52 vs 0.48), 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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