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SCHP vs. PRFZ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SCHP vs. PRFZ

Last updated Jun 13, 2026

SCHP (Schwab U.S. TIPS ETF) and PRFZ (Invesco FTSE RAFI US 1500 Small-Mid ETF) are both exchange-traded funds - SCHP is a Inflation-Protected Bonds fund tracking the Bloomberg US Treasury Inflation-Linked Bond Index (Series-L), while PRFZ is a Small Cap Blend Equities fund tracking the FTSE RAFI US 1500 Small-Mid Index. Both are passively managed. Over the past 10 years, SCHP returned 2.60%/yr vs 11.95%/yr for PRFZ. At a correlation of -0.06, they often move in opposite directions. SCHP charges 0.03%/yr vs 0.39%/yr for PRFZ.

Performance

SCHP vs. PRFZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. TIPS ETF (SCHP) and Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SCHP achieves a 1.42% return, which is significantly lower than PRFZ's 15.55% return. Over the past 10 years, SCHP has underperformed PRFZ with an annualized return of 2.60%, while PRFZ has yielded a comparatively higher 11.95% annualized return.

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%

PRFZ

1D
0.87%
1M
4.92%
YTD
15.55%
6M
12.59%
1Y
33.05%
3Y*
16.84%
5Y*
8.16%
10Y*
11.95%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SCHP vs. PRFZ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
PRFZ
Invesco FTSE RAFI US 1500 Small-Mid ETF		15.55%11.26%12.68%20.21%-16.29%28.26%11.84%21.91%-11.43%13.82%

Correlation

The correlation between SCHP and PRFZ is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.26

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

0.23

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

0.17

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

0.04

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

-0.06

The correlation between SCHP and PRFZ shifts across timeframes, from -0.06 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.

SCHP vs. PRFZ - Sectors Allocation Comparison

Sectors
SCHP
PRFZ

Consumer Cyclical

100.0%
10.4%

Financial Services

0.0%
13.3%

Basic Materials

-

3.3%

Communication Services

-

2.7%

Consumer Defensive

-

2.5%

Energy

-

5.4%

Healthcare

-

16.4%

Industrials

-

16.7%

Real Estate

-

6.7%

Technology

-

20.8%

Utilities

-

1.5%

Consumer Cyclical

SCHP
100.0%
PRFZ
10.4%

Financial Services

SCHP
0.0%
PRFZ
13.3%

Basic Materials

SCHP

-

PRFZ
3.3%

Communication Services

SCHP

-

PRFZ
2.7%

Consumer Defensive

SCHP

-

PRFZ
2.5%

Energy

SCHP

-

PRFZ
5.4%

Healthcare

SCHP

-

PRFZ
16.4%

Industrials

SCHP

-

PRFZ
16.7%

Real Estate

SCHP

-

PRFZ
6.7%

Technology

SCHP

-

PRFZ
20.8%

Utilities

SCHP

-

PRFZ
1.5%

Compare stocks, funds, or ETFs

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Schwab U.S. TIPS ETF

Invesco FTSE RAFI US 1500 Small-Mid ETF

Often compared with SCHP:
SCHP vs. VTIPSCHP vs. TIPSCHP vs. SCHZSCHP vs. FIPDXSCHP vs. STIPSCHP vs. SCHDSCHP vs. BND
Often compared with PRFZ:
PRFZ vs. BSMIXPRFZ vs. FNDAPRFZ vs. FVPRFZ vs. RWKPRFZ vs. PWBPRFZ vs. VOOPRFZ vs. SCHA

Return for Risk

SCHP vs. PRFZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
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
PRFZ
PRFZ Risk / Return Rank: 6565
Overall Rank
PRFZ Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
PRFZ Sortino Ratio Rank: 6363
Sortino Ratio Rank
PRFZ Omega Ratio Rank: 5757
Omega Ratio Rank
PRFZ Calmar Ratio Rank: 7272
Calmar Ratio Rank
PRFZ Martin Ratio Rank: 6868
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.

SCHP vs. PRFZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. TIPS ETF (SCHP) and Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ). 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.

SCHPPRFZDifference
Sharpe ratioReturn per unit of total volatility
1.44
1.81

-0.37

Sortino ratioReturn per unit of downside risk
2.19
2.58

-0.40

Omega ratioGain probability vs. loss probability

1.25

1.31

-0.05

Calmar ratioReturn relative to maximum drawdown

2.45

3.20

-0.74

Martin ratioReturn relative to average drawdown

7.41

11.02

-3.61

SCHP vs. PRFZ - Sharpe Ratio Comparison

The current SCHP Sharpe Ratio is 1.44, which is comparable to the PRFZ Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of SCHP and PRFZ, 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

SCHP vs. PRFZ - Drawdown Comparison

The maximum SCHP drawdown since its inception was -14.26%, smaller than the maximum PRFZ drawdown of -62.41%. Use the drawdown chart below to compare losses from any high point for SCHP and PRFZ.

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Drawdown Indicators

SCHPPRFZDifference

Max Drawdown

Largest peak-to-trough decline

-14.26%

-62.41%

+48.15%

Max Drawdown (1Y)

Largest decline over 1 year

-1.93%

-10.38%

+8.45%

Max Drawdown (3Y)

Largest decline over 3 years

-4.48%

-26.54%

+22.06%

Max Drawdown (5Y)

Largest decline over 5 years

-14.26%

-26.58%

+12.32%

Max Drawdown (10Y)

Largest decline over 10 years

-14.26%

-44.28%

+30.02%

Current Drawdown

Current decline from peak

-0.44%

0.00%

-0.44%

Average Drawdown

Average peak-to-trough decline

-3.93%

-9.41%

+5.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.64%

3.01%

-2.37%

Volatility

SCHP vs. PRFZ - Volatility Comparison

The current volatility for Schwab U.S. TIPS ETF (SCHP) is 1.02%, while Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ) has a volatility of 5.92%. This indicates that SCHP experiences smaller price fluctuations and is considered to be less risky than PRFZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SCHPPRFZDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.02%

5.92%

-4.90%

Volatility (6M)

Calculated over the trailing 6-month period

2.24%

12.93%

-10.69%

Volatility (1Y)

Calculated over the trailing 1-year period

3.30%

18.33%

-15.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.12%

21.38%

-15.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.59%

22.46%

-16.87%

SCHP vs. PRFZ - Expense Ratio Comparison

SCHP has a 0.03% expense ratio, which is lower than PRFZ's 0.39% expense ratio.

Dividends

SCHP vs. PRFZ - Dividend Comparison

SCHP's dividend yield for the trailing twelve months is around 3.99%, more than PRFZ's 0.82% yield.

PositionTTM20252024202320222021202020192018201720162015
PRFZ
Invesco FTSE RAFI US 1500 Small-Mid ETF		0.82%0.82%1.45%1.42%1.33%0.93%0.91%1.29%1.37%0.97%1.31%1.39%
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

SCHP and PRFZ have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PRFZ has higher volatility (5.92%) compared to SCHP (1.02%). In terms of maximum drawdown, SCHP dropped -14.26% vs PRFZ's -62.41%.

On 10-year performance, PRFZ leads with 11.95% 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, PRFZ has performed better with a 11.95% 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 0.39% for PRFZ.

SCHP has the higher dividend yield at 3.99%, compared with 0.82% for PRFZ.

SCHP is categorized as Inflation-Protected Bonds, while PRFZ is Small Cap Blend Equities. SCHP tracks Bloomberg US Treasury Inflation-Linked Bond Index (Series-L), while PRFZ tracks FTSE RAFI US 1500 Small-Mid Index. They also come from different issuers: Charles Schwab and Invesco. Their fees differ too: 0.03% for SCHP and 0.39% for PRFZ.

PRFZ currently has the higher Sharpe Ratio (1.81 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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