LTPZ vs. SCHQ
LTPZ (PIMCO 15+ Year U.S. 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 -7.01%/yr vs -6.63%/yr for SCHQ. Their correlation of 0.82 means they have usually moved in the same direction. 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 -2.92% return, which is significantly lower than SCHQ's -2.00% return.
LTPZ
- 1D
- -0.10%
- 1M
- -2.78%
- 6M
- -2.60%
- YTD
- -2.92%
- 1Y
- -2.35%
- 3Y*
- -0.94%
- 5Y*
- -7.01%
- 10Y*
- -0.12%
- ALL TIME*
- 2.84%
SCHQ
- 1D
- 0.17%
- 1M
- -2.20%
- 6M
- -1.62%
- YTD
- -2.00%
- 1Y
- -0.90%
- 3Y*
- 0.27%
- 5Y*
- -6.63%
- 10Y*
- —
- ALL TIME*
- -3.99%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.58M | $9.36M | $8.11M | |
| $14.61M | $14.46M | $18.61M |
LTPZ vs. SCHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year U.S. TIPS Index ETF | -2.92% | 4.00% | -4.80% | 0.96% | -31.71% | 7.02% | 24.89% | -1.07% |
SCHQ Schwab Long-Term U.S. Treasury ETF | -2.00% | 5.50% | -6.44% | 3.43% | -29.44% | -4.86% | 17.73% | -4.20% |
Correlation
The correlation between LTPZ and SCHQ is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
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 U.S. 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 | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.99 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | -0.13 | -0.16 |
| Martin ratioReturn relative to average drawdown | -0.60 | -0.28 | -0.32 |
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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 | -8.09% | -7.05% | -1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -12.64% | -13.38% | +0.74% |
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 | -34.98% | -37.81% | +2.83% |
Average DrawdownAverage peak-to-trough decline | -12.62% | -26.62% | +14.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.94% | 3.27% | +0.67% |
Volatility
LTPZ vs. SCHQ - Volatility Comparison
The current volatility for PIMCO 15+ Year U.S. TIPS Index ETF (LTPZ) is 2.02%, while Schwab Long-Term U.S. Treasury ETF (SCHQ) has a volatility of 2.30%. This indicates that LTPZ experiences smaller price fluctuations and is considered to be less risky 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 | 2.02% | 2.30% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 6.76% | 6.34% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.98% | 8.43% | +0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.86% | 14.42% | +1.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.02% | 15.19% | -0.17% |
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 6.97%, more than SCHQ's 4.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year U.S. TIPS Index ETF | 6.97% | 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 | 4.88% | 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.
SCHQ has higher volatility (2.30%) compared to LTPZ (2.02%). In terms of maximum drawdown, LTPZ dropped -40.99% vs SCHQ's -46.13%.
On 5-year performance, SCHQ leads with -6.63% vs -7.01% for LTPZ. On fees, SCHQ is cheaper at 0.03% per year. On volatility, LTPZ has been the lower-risk option at 2.02%. 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 -6.63% return vs -7.01%. 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 6.97%, compared with 4.88% 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 (-0.11 vs -0.26), 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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