PBTP vs. SCHQ
PBTP (Invesco PureBeta 0-5 Yr US TIPS ETF) and SCHQ (Schwab Long-Term U.S. Treasury ETF) are both exchange-traded funds - PBTP is a Inflation-Protected Bonds fund tracking the ICE BofA U.S. Treasuries Inflation-Linked (0-5 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, PBTP returned 3.22%/yr vs -5.56%/yr for SCHQ. At a 0.38 correlation, their price movements are largely independent. PBTP charges 0.07%/yr vs 0.03%/yr for SCHQ.
Performance
PBTP vs. SCHQ - Performance Comparison
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Returns By Period
In the year-to-date period, PBTP achieves a 1.42% return, which is significantly higher than SCHQ's 0.37% return.
PBTP
- 1D
- -0.18%
- 1M
- -0.30%
- YTD
- 1.42%
- 6M
- 1.44%
- 1Y
- 3.62%
- 3Y*
- 4.97%
- 5Y*
- 3.22%
- 10Y*
- —
SCHQ
- 1D
- -0.67%
- 1M
- 1.95%
- YTD
- 0.37%
- 6M
- 0.37%
- 1Y
- 4.37%
- 3Y*
- -0.77%
- 5Y*
- -5.56%
- 10Y*
- —
PBTP vs. SCHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 1.42% | 5.98% | 4.72% | 4.53% | -3.02% | 5.51% | 4.89% | 0.92% |
SCHQ Schwab Long-Term U.S. Treasury ETF | 0.37% | 5.50% | -6.44% | 3.43% | -29.44% | -4.86% | 17.73% | -4.20% |
Correlation
The correlation between PBTP and SCHQ is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019 | 0.38 |
The correlation between PBTP and SCHQ shifts across timeframes, from 0.38 (all time) to 0.53 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PBTP vs. SCHQ — Risk / Return Rank
PBTP
SCHQ
PBTP vs. SCHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) 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.
| PBTP | SCHQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.74 | ||
| Sortino ratioReturn per unit of downside risk | +2.67 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.09 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 4.98 | 0.63 | +4.36 |
| Martin ratioReturn relative to average drawdown | 17.63 | 1.55 | +16.08 |
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Drawdowns
PBTP vs. SCHQ - Drawdown Comparison
The maximum PBTP drawdown since its inception was -5.44%, smaller than the maximum SCHQ drawdown of -46.13%. Use the drawdown chart below to compare losses from any high point for PBTP and SCHQ.
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Drawdown Indicators
| PBTP | SCHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.44% | -46.13% | +40.69% |
Max Drawdown (1Y)Largest decline over 1 year | -0.73% | -7.01% | +6.28% |
Max Drawdown (3Y)Largest decline over 3 years | -1.03% | -17.65% | +16.62% |
Max Drawdown (5Y)Largest decline over 5 years | -5.44% | -40.93% | +35.49% |
Current DrawdownCurrent decline from peak | -0.73% | -36.31% | +35.58% |
Average DrawdownAverage peak-to-trough decline | -0.75% | -26.42% | +25.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 2.83% | -2.62% |
Volatility
PBTP vs. SCHQ - Volatility Comparison
The current volatility for Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) is 0.63%, while Schwab Long-Term U.S. Treasury ETF (SCHQ) has a volatility of 2.09%. This indicates that PBTP 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
| PBTP | SCHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 2.09% | -1.46% |
Volatility (6M)Calculated over the trailing 6-month period | 1.17% | 6.08% | -4.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.62% | 8.66% | -7.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.85% | 14.49% | -11.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.64% | 15.29% | -12.65% |
PBTP vs. SCHQ - Expense Ratio Comparison
PBTP has a 0.07% 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
PBTP vs. SCHQ - Dividend Comparison
PBTP's dividend yield for the trailing twelve months is around 5.86%, more than SCHQ's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 5.86% | 3.82% | 2.59% | 2.36% | 5.33% | 3.12% | 1.25% | 2.12% | 2.33% | 0.73% |
SCHQ Schwab Long-Term U.S. Treasury ETF | 4.75% | 4.54% | 4.58% | 3.79% | 2.88% | 1.69% | 1.51% | 0.44% | 0.00% | 0.00% |
Frequently Asked Questions
PBTP and SCHQ have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHQ has higher volatility (2.09%) compared to PBTP (0.63%). In terms of maximum drawdown, PBTP dropped -5.44% vs SCHQ's -46.13%.
On 5-year performance, PBTP leads with 3.22% vs -5.56% for SCHQ. On fees, SCHQ is cheaper at 0.03% per year. On volatility, PBTP has been the lower-risk option at 0.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PBTP has performed better with a 3.22% return vs -5.56%. 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 0.07% for PBTP.
PBTP has the higher dividend yield at 5.86%, compared with 4.75% for SCHQ.
PBTP is categorized as Inflation-Protected Bonds, while SCHQ is Government Bonds. PBTP tracks ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y), while SCHQ tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 0.07% for PBTP and 0.03% for SCHQ.
PBTP currently has the higher Sharpe Ratio (2.25 vs 0.51), 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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