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SCHP vs. SCHX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SCHP vs. SCHX

Last updated Jun 5, 2026

SCHP (Schwab U.S. TIPS ETF) and SCHX (Schwab U.S. Large-Cap 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 SCHX is a Large Cap Blend Equities fund tracking the Dow Jones U.S. Large-Cap Total Stock Market Index. Both are passively managed. Over the past 10 years, SCHP returned 2.66%/yr vs 15.41%/yr for SCHX. At a correlation of -0.07, they often move in opposite directions. Both charge a 0.03% expense ratio.

Performance

SCHP vs. SCHX - 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. Large-Cap ETF (SCHX). 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 SCHX's 11.20% return. Over the past 10 years, SCHP has underperformed SCHX with an annualized return of 2.66%, while SCHX has yielded a comparatively higher 15.41% 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%

SCHX

1D
0.44%
1M
4.70%
YTD
11.20%
6M
10.96%
1Y
27.92%
3Y*
22.63%
5Y*
13.39%
10Y*
15.41%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SCHP vs. SCHX - 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%
SCHX
Schwab U.S. Large-Cap ETF		11.20%17.46%24.88%26.84%-19.41%26.81%20.81%31.22%-4.66%21.95%

Correlation

The correlation between SCHP and SCHX is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.20

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

0.20

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 SCHX shifts across timeframes, from -0.07 (all time) to 0.20 (3 years), 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. Large-Cap ETF

Often compared with SCHP:
SCHP vs. VTIPSCHP vs. TIPSCHP vs. SCHZSCHP vs. FIPDXSCHP vs. STIPSCHP vs. SCHDSCHP vs. BND
Often compared with SCHX:
SCHX vs. VOOSCHX vs. SWPPXSCHX vs. SCHGSCHX vs. SCHBSCHX vs. SCHDSCHX vs. SPYSCHX vs. FNDX

Return for Risk

SCHP vs. SCHX — 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
SCHX
SCHX Risk / Return Rank: 7171
Overall Rank
SCHX Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
SCHX Sortino Ratio Rank: 7272
Sortino Ratio Rank
SCHX Omega Ratio Rank: 7272
Omega Ratio Rank
SCHX Calmar Ratio Rank: 6464
Calmar Ratio Rank
SCHX Martin Ratio Rank: 7575
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. SCHX - 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. Large-Cap ETF (SCHX). 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.

SCHPSCHXDifference
Sharpe ratioReturn per unit of total volatility
1.48
2.34

-0.86

Sortino ratioReturn per unit of downside risk
2.25
3.19

-0.94

Omega ratioGain probability vs. loss probability

1.26

1.42

-0.16

Calmar ratioReturn relative to maximum drawdown

2.51

3.11

-0.59

Martin ratioReturn relative to average drawdown

7.67

14.13

-6.46

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. SCHX - Sharpe Ratio Comparison

The current SCHP Sharpe Ratio is 1.48, which is lower than the SCHX Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of SCHP and SCHX, 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

SCHPSCHXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.48

2.34

-0.86

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.19

0.79

-0.60

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.48

0.85

-0.38

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

0.85

-0.35

Drawdowns

SCHP vs. SCHX - Drawdown Comparison

The maximum SCHP drawdown since its inception was -14.26%, smaller than the maximum SCHX drawdown of -34.33%. Use the drawdown chart below to compare losses from any high point for SCHP and SCHX.

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Drawdown Indicators

SCHPSCHXDifference

Max Drawdown

Largest peak-to-trough decline

-14.26%

-34.33%

+20.07%

Max Drawdown (1Y)

Largest decline over 1 year

-1.93%

-9.02%

+7.09%

Max Drawdown (3Y)

Largest decline over 3 years

-4.48%

-19.04%

+14.56%

Max Drawdown (5Y)

Largest decline over 5 years

-14.26%

-25.41%

+11.15%

Max Drawdown (10Y)

Largest decline over 10 years

-14.26%

-34.33%

+20.07%

Current Drawdown

Current decline from peak

-0.25%

-0.27%

+0.02%

Average Drawdown

Average peak-to-trough decline

-3.94%

-3.97%

+0.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.63%

1.98%

-1.35%

Volatility

SCHP vs. SCHX - Volatility Comparison

The current volatility for Schwab U.S. TIPS ETF (SCHP) is 0.89%, while Schwab U.S. Large-Cap ETF (SCHX) has a volatility of 2.86%. This indicates that SCHP experiences smaller price fluctuations and is considered to be less risky than SCHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SCHPSCHXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.89%

2.86%

-1.97%

Volatility (6M)

Calculated over the trailing 6-month period

2.20%

9.03%

-6.83%

Volatility (1Y)

Calculated over the trailing 1-year period

3.29%

11.98%

-8.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.12%

17.12%

-11.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.59%

18.14%

-12.55%

SCHP vs. SCHX - Expense Ratio Comparison

Both SCHP and SCHX 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. SCHX - Dividend Comparison

SCHP's dividend yield for the trailing twelve months is around 3.99%, more than SCHX's 1.00% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
SCHX
Schwab U.S. Large-Cap ETF		1.00%1.09%1.22%1.39%1.64%1.22%1.64%1.82%2.02%1.70%1.92%2.04%

Frequently Asked Questions

SCHP and SCHX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SCHX has higher volatility (2.86%) compared to SCHP (0.89%). In terms of maximum drawdown, SCHP dropped -14.26% vs SCHX's -34.33%.

On 10-year performance, SCHX leads with 15.41% 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, SCHX has performed better with a 15.41% return vs 2.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

SCHP has the higher dividend yield at 3.99%, compared with 1.00% for SCHX.

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

SCHX currently has the higher Sharpe Ratio (2.34 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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