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SCHP vs. SCHB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SCHP vs. SCHB

Last updated Jun 5, 2026

SCHP (Schwab U.S. TIPS ETF) and SCHB (Schwab U.S. Broad Market 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 SCHB is a Large Cap Blend Equities fund tracking the Dow Jones U.S. Broad Stock Market Index. Both are passively managed. Over the past 10 years, SCHP returned 2.66%/yr vs 15.02%/yr for SCHB. At a correlation of -0.07, they often move in opposite directions. Both charge a 0.03% expense ratio.

Performance

SCHP vs. SCHB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. TIPS ETF (SCHP) and Schwab U.S. Broad Market ETF (SCHB). 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 1.61% return, which is significantly lower than SCHB's 11.78% return. Over the past 10 years, SCHP has underperformed SCHB with an annualized return of 2.66%, while SCHB has yielded a comparatively higher 15.02% annualized return.

SCHP

1D
0.00%
1M
0.05%
YTD
1.61%
6M
1.25%
1Y
4.83%
3Y*
3.99%
5Y*
1.13%
10Y*
2.66%

SCHB

1D
0.45%
1M
4.65%
YTD
11.78%
6M
11.45%
1Y
28.80%
3Y*
22.39%
5Y*
12.86%
10Y*
15.02%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SCHP vs. SCHB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SCHP
Schwab U.S. TIPS ETF		1.61%6.76%1.95%3.91%-12.02%5.87%10.86%8.52%-1.78%3.02%
SCHB
Schwab U.S. Broad Market ETF		11.78%16.94%23.93%26.16%-19.46%25.84%20.76%30.79%-5.43%21.20%

Correlation

The correlation between SCHP and SCHB is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.21

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

0.21

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

0.18

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

0.06

Correlation (All Time)
Calculated using the full available price history since Aug 6, 2010

-0.07

The correlation between SCHP and SCHB shifts across timeframes, from -0.07 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Schwab U.S. TIPS ETF

Schwab U.S. Broad Market ETF

Often compared with SCHP:
SCHP vs. VTIPSCHP vs. TIPSCHP vs. SCHZSCHP vs. FIPDXSCHP vs. STIPSCHP vs. SCHDSCHP vs. BND
Often compared with SCHB:
SCHB vs. VTISCHB vs. SCHGSCHB vs. SCHXSCHB vs. VOOSCHB vs. SCHDSCHB vs. SWTSXSCHB vs. SPY

Return for Risk

SCHP vs. SCHB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SCHP
SCHP Risk / Return Rank: 4646
Overall Rank
SCHP Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
SCHP Sortino Ratio Rank: 4646
Sortino Ratio Rank
SCHP Omega Ratio Rank: 4242
Omega Ratio Rank
SCHP Calmar Ratio Rank: 5252
Calmar Ratio Rank
SCHP Martin Ratio Rank: 4747
Martin Ratio Rank
SCHB
SCHB Risk / Return Rank: 7373
Overall Rank
SCHB Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
SCHB Sortino Ratio Rank: 7373
Sortino Ratio Rank
SCHB Omega Ratio Rank: 7373
Omega Ratio Rank
SCHB Calmar Ratio Rank: 6666
Calmar Ratio Rank
SCHB Martin Ratio Rank: 7878
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. SCHB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. TIPS ETF (SCHP) and Schwab U.S. Broad Market ETF (SCHB). 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.

SCHPSCHBDifference
Sharpe ratioReturn per unit of total volatility
1.48
2.39

-0.91

Sortino ratioReturn per unit of downside risk
2.25
3.25

-1.01

Omega ratioGain probability vs. loss probability

1.26

1.43

-0.17

Calmar ratioReturn relative to maximum drawdown

2.51

3.25

-0.73

Martin ratioReturn relative to average drawdown

7.67

14.90

-7.23

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCHP vs. SCHB - Sharpe Ratio Comparison

The current SCHP Sharpe Ratio is 1.48, which is lower than the SCHB Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of SCHP and SCHB, 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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Sharpe Ratios by Period

SCHPSCHBDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.48

2.39

-0.91

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.19

0.75

-0.56

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.48

0.82

-0.35

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

0.83

-0.33

Drawdowns

SCHP vs. SCHB - Drawdown Comparison

The maximum SCHP drawdown since its inception was -14.26%, smaller than the maximum SCHB drawdown of -35.27%. Use the drawdown chart below to compare losses from any high point for SCHP and SCHB.

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Drawdown Indicators

SCHPSCHBDifference

Max Drawdown

Largest peak-to-trough decline

-14.26%

-35.27%

+21.01%

Max Drawdown (1Y)

Largest decline over 1 year

-1.93%

-8.91%

+6.98%

Max Drawdown (3Y)

Largest decline over 3 years

-4.48%

-19.34%

+14.86%

Max Drawdown (5Y)

Largest decline over 5 years

-14.26%

-25.41%

+11.15%

Max Drawdown (10Y)

Largest decline over 10 years

-14.26%

-35.27%

+21.01%

Current Drawdown

Current decline from peak

-0.25%

-0.27%

+0.02%

Average Drawdown

Average peak-to-trough decline

-3.94%

-4.11%

+0.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.63%

1.94%

-1.31%

Volatility

SCHP vs. SCHB - Volatility Comparison

The current volatility for Schwab U.S. TIPS ETF (SCHP) is 0.89%, while Schwab U.S. Broad Market ETF (SCHB) has a volatility of 2.97%. This indicates that SCHP experiences smaller price fluctuations and is considered to be less risky than SCHB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SCHPSCHBDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.89%

2.97%

-2.08%

Volatility (6M)

Calculated over the trailing 6-month period

2.20%

9.14%

-6.94%

Volatility (1Y)

Calculated over the trailing 1-year period

3.29%

12.11%

-8.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.12%

17.24%

-11.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.59%

18.31%

-12.72%

SCHP vs. SCHB - Expense Ratio Comparison

Both SCHP and SCHB have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SCHP vs. SCHB - Dividend Comparison

SCHP's dividend yield for the trailing twelve months is around 3.99%, more than SCHB's 1.01% yield.

PositionTTM20252024202320222021202020192018201720162015
SCHB
Schwab U.S. Broad Market ETF		1.01%1.11%1.24%1.40%1.61%1.21%1.63%1.80%2.00%1.65%1.86%2.00%
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 SCHB have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SCHB has higher volatility (2.97%) compared to SCHP (0.89%). In terms of maximum drawdown, SCHP dropped -14.26% vs SCHB's -35.27%.

On 10-year performance, SCHB leads with 15.02% vs 2.66% for SCHP. Both ETFs have the same 0.03% expense ratio. On volatility, SCHP has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SCHB has performed better with a 15.02% return vs 2.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SCHP and SCHB have the same expense ratio: 0.03% per year.

SCHP has the higher dividend yield at 3.99%, compared with 1.01% for SCHB.

SCHP is categorized as Inflation-Protected Bonds, while SCHB is Large Cap Blend Equities. SCHP tracks Bloomberg US Treasury Inflation-Linked Bond Index (Series-L), while SCHB tracks Dow Jones U.S. Broad Stock Market Index.

SCHB currently has the higher Sharpe Ratio (2.39 vs 1.48), 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.

Portfolio Optimizer

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