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SCHA vs. SCHP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SCHA vs. SCHP

Last updated Jun 13, 2026

SCHA (Schwab U.S. Small-Cap ETF) and SCHP (Schwab U.S. TIPS ETF) are both exchange-traded funds - SCHA is a Small Cap Blend Equities fund tracking the Dow Jones U.S. Small-Cap Total Stock Market Index, while SCHP is a Inflation-Protected Bonds fund tracking the Bloomberg US Treasury Inflation-Linked Bond Index (Series-L). Both are passively managed. Over the past 10 years, SCHA returned 11.55%/yr vs 2.60%/yr for SCHP. At a correlation of -0.06, they often move in opposite directions. SCHA charges 0.04%/yr vs 0.03%/yr for SCHP.

Performance

SCHA vs. SCHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Small-Cap ETF (SCHA) and Schwab U.S. TIPS ETF (SCHP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SCHA achieves a 22.49% return, which is significantly higher than SCHP's 1.42% return. Over the past 10 years, SCHA has outperformed SCHP with an annualized return of 11.55%, while SCHP has yielded a comparatively lower 2.60% annualized return.

SCHA

1D
1.16%
1M
5.29%
YTD
22.49%
6M
19.84%
1Y
41.48%
3Y*
18.37%
5Y*
7.19%
10Y*
11.55%

SCHP

1D
0.04%
1M
-0.18%
YTD
1.42%
6M
1.48%
1Y
4.71%
3Y*
4.14%
5Y*
1.06%
10Y*
2.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SCHA vs. SCHP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SCHA
Schwab U.S. Small-Cap ETF		22.49%11.60%11.16%18.46%-19.81%16.45%19.34%26.50%-11.79%14.94%
SCHP
Schwab U.S. TIPS ETF		1.42%6.76%1.95%3.91%-12.02%5.87%10.86%8.52%-1.78%3.02%

Correlation

The correlation between SCHA and SCHP is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.25

Correlation (3Y)
Calculated over the trailing 3-year period

0.22

Correlation (5Y)
Calculated over the trailing 5-year period

0.17

Correlation (10Y)
Calculated over the trailing 10-year period

0.05

Correlation (All Time)
Calculated using the full available price history since Aug 5, 2010

-0.06

The correlation between SCHA and SCHP shifts across timeframes, from -0.06 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.

SCHA vs. SCHP - Sectors Allocation Comparison

Sectors
SCHA
SCHP

Technology

23.9%

-

Industrials

15.6%

-

Financial Services

15.3%
0.0%

Healthcare

13.2%

-

Consumer Cyclical

9.0%
100.0%

Real Estate

5.9%

-

Energy

5.4%

-

Basic Materials

4.4%

-

Consumer Defensive

2.5%

-

Utilities

2.3%

-

Communication Services

2.3%

-

Technology

SCHA
23.9%
SCHP

-

Industrials

SCHA
15.6%
SCHP

-

Financial Services

SCHA
15.3%
SCHP
0.0%

Healthcare

SCHA
13.2%
SCHP

-

Consumer Cyclical

SCHA
9.0%
SCHP
100.0%

Real Estate

SCHA
5.9%
SCHP

-

Energy

SCHA
5.4%
SCHP

-

Basic Materials

SCHA
4.4%
SCHP

-

Consumer Defensive

SCHA
2.5%
SCHP

-

Utilities

SCHA
2.3%
SCHP

-

Communication Services

SCHA
2.3%
SCHP

-

Compare stocks, funds, or ETFs

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Schwab U.S. Small-Cap ETF

Schwab U.S. TIPS ETF

Often compared with SCHA:
SCHA vs. VBSCHA vs. AVUVSCHA vs. SWSSXSCHA vs. IJRSCHA vs. SCHDSCHA vs. SCHBSCHA vs. SCHM
Often compared with SCHP:
SCHP vs. VTIPSCHP vs. TIPSCHP vs. SCHZSCHP vs. FIPDXSCHP vs. STIPSCHP vs. SCHDSCHP vs. BND

Return for Risk

SCHA vs. SCHP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SCHA
SCHA Risk / Return Rank: 8282
Overall Rank
SCHA Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
SCHA Sortino Ratio Rank: 8181
Sortino Ratio Rank
SCHA Omega Ratio Rank: 7474
Omega Ratio Rank
SCHA Calmar Ratio Rank: 8787
Calmar Ratio Rank
SCHA Martin Ratio Rank: 8787
Martin Ratio Rank
SCHP
SCHP Risk / Return Rank: 5050
Overall Rank
SCHP Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
SCHP Sortino Ratio Rank: 5151
Sortino Ratio Rank
SCHP Omega Ratio Rank: 4545
Omega Ratio Rank
SCHP Calmar Ratio Rank: 5656
Calmar Ratio Rank
SCHP Martin Ratio Rank: 5050
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SCHA vs. SCHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Small-Cap ETF (SCHA) 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.

SCHASCHPDifference
Sharpe ratioReturn per unit of total volatility
2.24
1.44

+0.80

Sortino ratioReturn per unit of downside risk
3.10
2.19

+0.92

Omega ratioGain probability vs. loss probability

1.37

1.25

+0.12

Calmar ratioReturn relative to maximum drawdown

4.38

2.45

+1.93

Martin ratioReturn relative to average drawdown

16.08

7.41

+8.68

SCHA vs. SCHP - Sharpe Ratio Comparison

The current SCHA Sharpe Ratio is 2.24, which is higher than the SCHP Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of SCHA and SCHP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SCHA vs. SCHP - Drawdown Comparison

The maximum SCHA drawdown since its inception was -42.41%, which is greater than SCHP's maximum drawdown of -14.26%. Use the drawdown chart below to compare losses from any high point for SCHA and SCHP.

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Drawdown Indicators

SCHASCHPDifference

Max Drawdown

Largest peak-to-trough decline

-42.41%

-14.26%

-28.15%

Max Drawdown (1Y)

Largest decline over 1 year

-9.50%

-1.93%

-7.57%

Max Drawdown (3Y)

Largest decline over 3 years

-27.29%

-4.48%

-22.81%

Max Drawdown (5Y)

Largest decline over 5 years

-30.79%

-14.26%

-16.53%

Max Drawdown (10Y)

Largest decline over 10 years

-42.41%

-14.26%

-28.15%

Current Drawdown

Current decline from peak

0.00%

-0.44%

+0.44%

Average Drawdown

Average peak-to-trough decline

-7.57%

-3.93%

-3.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.59%

0.64%

+1.95%

Volatility

SCHA vs. SCHP - Volatility Comparison

Schwab U.S. Small-Cap ETF (SCHA) has a higher volatility of 6.62% compared to Schwab U.S. TIPS ETF (SCHP) at 1.02%. This indicates that SCHA'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

SCHASCHPDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.62%

1.02%

+5.60%

Volatility (6M)

Calculated over the trailing 6-month period

13.67%

2.24%

+11.43%

Volatility (1Y)

Calculated over the trailing 1-year period

18.62%

3.30%

+15.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.03%

6.12%

+15.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.75%

5.59%

+17.16%

SCHA vs. SCHP - Expense Ratio Comparison

SCHA has a 0.04% 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

SCHA vs. SCHP - Dividend Comparison

SCHA's dividend yield for the trailing twelve months is around 0.98%, less than SCHP's 3.99% yield.

PositionTTM20252024202320222021202020192018201720162015
SCHA
Schwab U.S. Small-Cap ETF		0.98%1.26%1.51%1.42%1.37%1.19%1.05%1.39%1.58%1.24%1.50%1.48%
SCHP
Schwab U.S. TIPS ETF		3.99%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

SCHA and SCHP have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SCHA has higher volatility (6.62%) compared to SCHP (1.02%). In terms of maximum drawdown, SCHA dropped -42.41% vs SCHP's -14.26%.

On 10-year performance, SCHA leads with 11.55% vs 2.60% for SCHP. 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, SCHA has performed better with a 11.55% return vs 2.60%. 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 0.04% for SCHA.

SCHP has the higher dividend yield at 3.99%, compared with 0.98% for SCHA.

SCHA is categorized as Small Cap Blend Equities, while SCHP is Inflation-Protected Bonds. SCHA tracks Dow Jones U.S. Small-Cap Total Stock Market Index, while SCHP tracks Bloomberg US Treasury Inflation-Linked Bond Index (Series-L). Their fees differ too: 0.04% for SCHA and 0.03% for SCHP.

SCHA currently has the higher Sharpe Ratio (2.24 vs 1.44), 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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