SCHP vs. FFRHX
SCHP (Schwab U.S. TIPS ETF) and FFRHX (Fidelity Floating Rate High Income Fund) are both funds - SCHP is a Inflation-Protected Bonds fund tracking the Bloomberg US Treasury Inflation-Linked Bond Index (Series-L), while FFRHX is a Bank Loan fund actively managed by Fidelity. SCHP is passively managed, while FFRHX is actively managed. Over the past 10 years, SCHP returned 2.52%/yr vs 4.98%/yr for FFRHX. At a 0.01 correlation, their price movements are largely independent. SCHP charges 0.03%/yr vs 0.67%/yr for FFRHX.
Performance
SCHP vs. FFRHX - Performance Comparison
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Returns By Period
In the year-to-date period, SCHP achieves a 0.81% return, which is significantly lower than FFRHX's 1.71% return. Over the past 10 years, SCHP has underperformed FFRHX with an annualized return of 2.52%, while FFRHX has yielded a comparatively higher 4.98% annualized return.
SCHP
- 1D
- 0.00%
- 1M
- -0.18%
- YTD
- 0.81%
- 6M
- 0.88%
- 1Y
- 3.49%
- 3Y*
- 3.67%
- 5Y*
- 0.99%
- 10Y*
- 2.52%
FFRHX
- 1D
- 0.00%
- 1M
- 0.22%
- YTD
- 1.71%
- 6M
- 2.32%
- 1Y
- 5.89%
- 3Y*
- 7.20%
- 5Y*
- 5.40%
- 10Y*
- 4.98%
SCHP vs. FFRHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCHP Schwab U.S. TIPS ETF | 0.81% | 6.76% | 1.95% | 3.91% | -12.02% | 5.87% | 10.86% | 8.52% | -1.78% | 3.02% |
FFRHX Fidelity Floating Rate High Income Fund | 1.71% | 5.47% | 7.10% | 12.63% | -1.55% | 5.01% | 1.69% | 8.63% | 0.10% | 3.91% |
Correlation
The correlation between SCHP and FFRHX is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2010 | 0.01 |
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Return for Risk
SCHP vs. FFRHX — Risk / Return Rank
SCHP
FFRHX
SCHP vs. FFRHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. TIPS ETF (SCHP) and Fidelity Floating Rate High Income Fund (FFRHX). 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.
| SCHP | FFRHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.45 | ||
| Sortino ratioReturn per unit of downside risk | -4.39 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.87 | -0.69 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 4.97 | -3.15 |
| Martin ratioReturn relative to average drawdown | 5.39 | 17.06 | -11.66 |
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Drawdowns
SCHP vs. FFRHX - Drawdown Comparison
The maximum SCHP drawdown since its inception was -14.26%, smaller than the maximum FFRHX drawdown of -22.20%. Use the drawdown chart below to compare losses from any high point for SCHP and FFRHX.
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Drawdown Indicators
| SCHP | FFRHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.26% | -22.20% | +7.94% |
Max Drawdown (1Y)Largest decline over 1 year | -1.93% | -1.19% | -0.74% |
Max Drawdown (3Y)Largest decline over 3 years | -4.48% | -3.29% | -1.19% |
Max Drawdown (5Y)Largest decline over 5 years | -14.26% | -5.90% | -8.36% |
Max Drawdown (10Y)Largest decline over 10 years | -14.26% | -22.20% | +7.94% |
Current DrawdownCurrent decline from peak | -1.04% | -0.44% | -0.60% |
Average DrawdownAverage peak-to-trough decline | -3.92% | -1.15% | -2.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.35% | +0.30% |
Volatility
SCHP vs. FFRHX - Volatility Comparison
Schwab U.S. TIPS ETF (SCHP) has a higher volatility of 1.20% compared to Fidelity Floating Rate High Income Fund (FFRHX) at 0.66%. This indicates that SCHP's price experiences larger fluctuations and is considered to be riskier than FFRHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHP | FFRHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 0.66% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 2.39% | 1.63% | +0.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.35% | 2.37% | +0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.11% | 2.88% | +3.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.59% | 4.14% | +1.45% |
SCHP vs. FFRHX - Expense Ratio Comparison
SCHP has a 0.03% expense ratio, which is lower than FFRHX's 0.67% expense ratio.
Dividends
SCHP vs. FFRHX - Dividend Comparison
SCHP's dividend yield for the trailing twelve months is around 4.02%, less than FFRHX's 7.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFRHX Fidelity Floating Rate High Income Fund | 7.09% | 7.41% | 6.94% | 8.24% | 3.81% | 2.74% | 3.84% | 5.15% | 4.74% | 4.05% | 4.44% | 3.69% |
SCHP Schwab U.S. TIPS ETF | 4.02% | 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
SCHP and FFRHX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHP has higher volatility (1.20%) compared to FFRHX (0.66%). In terms of maximum drawdown, SCHP dropped -14.26% vs FFRHX's -22.20%.
FFRHX currently has the higher Sharpe Ratio (2.50 vs 1.05), 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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