SCHP vs. SPEM
SCHP (Schwab U.S. TIPS ETF) and SPEM (SPDR Portfolio Emerging Markets 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 SPEM is a Emerging Markets Equities fund tracking the S&P Emerging BMI Index. Both are passively managed. Over the past 10 years, SCHP returned 2.47%/yr vs 8.33%/yr for SPEM. At a correlation of -0.02, they often move in opposite directions. SCHP charges 0.03%/yr vs 0.07%/yr for SPEM.
Performance
SCHP vs. SPEM - Performance Comparison
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Returns By Period
In the year-to-date period, SCHP achieves a 1.00% return, which is significantly lower than SPEM's 8.25% return. Over the past 10 years, SCHP has underperformed SPEM with an annualized return of 2.47%, while SPEM has yielded a comparatively higher 8.33% annualized return.
SCHP
- 1D
- -0.19%
- 1M
- -0.22%
- 6M
- 0.89%
- YTD
- 1.00%
- 1Y
- 3.05%
- 3Y*
- 3.68%
- 5Y*
- 0.68%
- 10Y*
- 2.47%
- ALL TIME*
- 2.76%
SPEM
- 1D
- -0.04%
- 1M
- -4.53%
- 6M
- 4.07%
- YTD
- 8.25%
- 1Y
- 18.43%
- 3Y*
- 15.93%
- 5Y*
- 5.77%
- 10Y*
- 8.33%
- ALL TIME*
- 5.47%
SCHP vs. SPEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCHP Schwab U.S. TIPS ETF | 1.00% | 6.76% | 1.95% | 3.91% | -12.02% | 5.87% | 10.86% | 8.52% | -1.78% | 3.02% |
SPEM SPDR Portfolio Emerging Markets ETF | 8.25% | 25.63% | 11.40% | 10.51% | -17.90% | 1.51% | 14.55% | 19.69% | -13.26% | 34.82% |
Correlation
The correlation between SCHP and SPEM is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2010 | -0.02 |
The correlation between SCHP and SPEM shifts across timeframes, from -0.02 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SCHP vs. SPEM — Risk / Return Rank
SCHP
SPEM
SCHP vs. SPEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. TIPS ETF (SCHP) and SPDR Portfolio Emerging Markets ETF (SPEM). 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 | SPEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.20 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 1.63 | -0.04 |
| Martin ratioReturn relative to average drawdown | 4.53 | 5.56 | -1.03 |
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Drawdowns
SCHP vs. SPEM - Drawdown Comparison
The maximum SCHP drawdown since its inception was -14.26%, smaller than the maximum SPEM drawdown of -64.41%. Use the drawdown chart below to compare losses from any high point for SCHP and SPEM.
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Drawdown Indicators
| SCHP | SPEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.26% | -64.41% | +50.15% |
Max Drawdown (1Y)Largest decline over 1 year | -1.93% | -11.36% | +9.43% |
Max Drawdown (3Y)Largest decline over 3 years | -4.48% | -17.62% | +13.14% |
Max Drawdown (5Y)Largest decline over 5 years | -14.26% | -30.03% | +15.77% |
Max Drawdown (10Y)Largest decline over 10 years | -14.26% | -36.06% | +21.80% |
Current DrawdownCurrent decline from peak | -0.85% | -5.57% | +4.72% |
Average DrawdownAverage peak-to-trough decline | -3.91% | -14.67% | +10.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 3.32% | -2.65% |
Volatility
SCHP vs. SPEM - Volatility Comparison
The current volatility for Schwab U.S. TIPS ETF (SCHP) is 0.98%, while SPDR Portfolio Emerging Markets ETF (SPEM) has a volatility of 5.83%. This indicates that SCHP experiences smaller price fluctuations and is considered to be less risky than SPEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHP | SPEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 5.83% | -4.85% |
Volatility (6M)Calculated over the trailing 6-month period | 2.45% | 15.11% | -12.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 17.41% | -14.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.11% | 17.39% | -11.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.59% | 18.77% | -13.18% |
SCHP vs. SPEM - Expense Ratio Comparison
SCHP has a 0.03% expense ratio, which is lower than SPEM's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SCHP vs. SPEM - Dividend Comparison
SCHP's dividend yield for the trailing twelve months is around 4.49%, more than SPEM's 2.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHP Schwab U.S. TIPS ETF | 4.49% | 4.06% | 2.99% | 3.02% | 7.19% | 4.39% | 1.11% | 2.02% | 2.26% | 1.90% | 1.38% | 0.28% |
SPEM SPDR Portfolio Emerging Markets ETF | 2.59% | 2.77% | 2.78% | 2.80% | 3.38% | 3.14% | 1.92% | 2.94% | 2.34% | 1.12% | 1.51% | 2.40% |
Frequently Asked Questions
SCHP and SPEM have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPEM has higher volatility (5.83%) compared to SCHP (0.98%). In terms of maximum drawdown, SCHP dropped -14.26% vs SPEM's -64.41%.
On 10-year performance, SPEM leads with 8.33% vs 2.47% for SCHP. On fees, SCHP is cheaper at 0.03% per year. On volatility, SCHP has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPEM has performed better with a 8.33% return vs 2.47%. 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 0.07% for SPEM.
SCHP has the higher dividend yield at 4.49%, compared with 2.59% for SPEM.
SCHP is categorized as Inflation-Protected Bonds, while SPEM is Emerging Markets Equities. SCHP tracks Bloomberg US Treasury Inflation-Linked Bond Index (Series-L), while SPEM tracks S&P Emerging BMI Index. They also come from different issuers: Charles Schwab and State Street. Their fees differ too: 0.03% for SCHP and 0.07% for SPEM.
SPEM currently has the higher Sharpe Ratio (1.07 vs 0.91), 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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