LTPZ vs. SCHQ
LTPZ (PIMCO 15+ Year US TIPS Index ETF) and SCHQ (Schwab Long-Term U.S. Treasury ETF) are both exchange-traded funds - LTPZ is a Inflation-Protected Bonds fund tracking the ICE BofA US Inflation-Linked Treasury (15+ Y), while SCHQ is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 5 years, LTPZ returned -5.64%/yr vs -5.55%/yr for SCHQ. Their correlation of 0.82 suggests significant overlap in exposure. LTPZ charges 0.20%/yr vs 0.03%/yr for SCHQ.
Performance
LTPZ vs. SCHQ - Performance Comparison
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Returns By Period
In the year-to-date period, LTPZ achieves a -0.06% return, which is significantly lower than SCHQ's 0.57% return.
LTPZ
- 1D
- -0.22%
- 1M
- 0.76%
- YTD
- -0.06%
- 6M
- -0.12%
- 1Y
- 2.88%
- 3Y*
- -1.61%
- 5Y*
- -5.64%
- 10Y*
- 0.61%
SCHQ
- 1D
- 0.19%
- 1M
- 2.15%
- YTD
- 0.57%
- 6M
- 0.44%
- 1Y
- 4.14%
- 3Y*
- -0.70%
- 5Y*
- -5.55%
- 10Y*
- —
LTPZ vs. SCHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year US TIPS Index ETF | -0.06% | 4.00% | -4.80% | 0.96% | -31.71% | 7.02% | 24.89% | -1.07% |
SCHQ Schwab Long-Term U.S. Treasury ETF | 0.57% | 5.50% | -6.44% | 3.43% | -29.44% | -4.86% | 17.73% | -4.20% |
Correlation
The correlation between LTPZ and SCHQ is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019 | 0.82 |
The correlation between LTPZ and SCHQ shifts across timeframes, from 0.82 (all time) to 0.93 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LTPZ vs. SCHQ — Risk / Return Rank
LTPZ
SCHQ
LTPZ vs. SCHQ - 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 Long-Term U.S. Treasury ETF (SCHQ). 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 | SCHQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.09 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 0.59 | -0.18 |
| Martin ratioReturn relative to average drawdown | 0.86 | 1.46 | -0.60 |
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Drawdowns
LTPZ vs. SCHQ - Drawdown Comparison
The maximum LTPZ drawdown since its inception was -40.99%, smaller than the maximum SCHQ drawdown of -46.13%. Use the drawdown chart below to compare losses from any high point for LTPZ and SCHQ.
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Drawdown Indicators
| LTPZ | SCHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.99% | -46.13% | +5.14% |
Max Drawdown (1Y)Largest decline over 1 year | -7.00% | -7.01% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -16.05% | -17.65% | +1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -40.99% | -40.93% | -0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -40.99% | — | — |
Current DrawdownCurrent decline from peak | -33.06% | -36.18% | +3.12% |
Average DrawdownAverage peak-to-trough decline | -12.47% | -26.43% | +13.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.34% | 2.84% | +0.50% |
Volatility
LTPZ vs. SCHQ - Volatility Comparison
PIMCO 15+ Year US TIPS Index ETF (LTPZ) has a higher volatility of 2.52% compared to Schwab Long-Term U.S. Treasury ETF (SCHQ) at 2.07%. This indicates that LTPZ's price experiences larger fluctuations and is considered to be riskier than SCHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LTPZ | SCHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.52% | 2.07% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 6.62% | 6.07% | +0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.13% | 8.65% | +0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.86% | 14.49% | +1.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.07% | 15.29% | -0.22% |
LTPZ vs. SCHQ - Expense Ratio Comparison
LTPZ has a 0.20% expense ratio, which is higher than SCHQ'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. SCHQ - Dividend Comparison
LTPZ's dividend yield for the trailing twelve months is around 5.25%, more than SCHQ's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year US TIPS Index ETF | 5.25% | 4.64% | 3.71% | 3.71% | 8.38% | 3.56% | 1.42% | 1.74% | 3.05% | 2.25% | 2.32% | 0.71% |
SCHQ Schwab Long-Term U.S. Treasury ETF | 4.74% | 4.54% | 4.58% | 3.79% | 2.88% | 1.69% | 1.51% | 0.44% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, LTPZ and SCHQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
LTPZ has higher volatility (2.52%) compared to SCHQ (2.07%). In terms of maximum drawdown, LTPZ dropped -40.99% vs SCHQ's -46.13%.
On 5-year performance, SCHQ leads with -5.55% vs -5.64% for LTPZ. On fees, SCHQ is cheaper at 0.03% per year. On volatility, SCHQ has been the lower-risk option at 2.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SCHQ has performed better with a -5.55% return vs -5.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHQ is cheaper with a 0.03% expense ratio, compared with 0.20% for LTPZ.
LTPZ has the higher dividend yield at 5.25%, compared with 4.74% for SCHQ.
LTPZ is categorized as Inflation-Protected Bonds, while SCHQ is Government Bonds. LTPZ tracks ICE BofA US Inflation-Linked Treasury (15+ Y), while SCHQ tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: PIMCO and Charles Schwab. Their fees differ too: 0.20% for LTPZ and 0.03% for SCHQ.
SCHQ currently has the higher Sharpe Ratio (0.48 vs 0.32), 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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