SCHQ vs. LTPZ
SCHQ (Schwab Long-Term U.S. Treasury ETF) and LTPZ (PIMCO 15+ Year U.S. TIPS Index ETF) are both exchange-traded funds - SCHQ is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index, while LTPZ is a Inflation-Protected Bonds fund tracking the ICE BofA US Inflation-Linked Treasury (15+ Y). Both are passively managed. Over the past 5 years, SCHQ returned -7.19%/yr vs -7.35%/yr for LTPZ. Their correlation of 0.82 means they have usually moved in the same direction. SCHQ charges 0.03%/yr vs 0.20%/yr for LTPZ.
Performance
SCHQ vs. LTPZ - Performance Comparison
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Returns By Period
In the year-to-date period, SCHQ achieves a -2.90% return, which is significantly higher than LTPZ's -3.35% return.
SCHQ
- 1D
- 0.36%
- 1M
- -3.17%
- 6M
- -2.56%
- YTD
- -2.90%
- 1Y
- -1.33%
- 3Y*
- -0.04%
- 5Y*
- -7.19%
- 10Y*
- —
- ALL TIME*
- -4.12%
LTPZ
- 1D
- 0.42%
- 1M
- -3.33%
- 6M
- -2.92%
- YTD
- -3.35%
- 1Y
- -2.09%
- 3Y*
- -1.08%
- 5Y*
- -7.35%
- 10Y*
- -0.17%
- ALL TIME*
- 2.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $12.67M | $8.82M | $7.84M | |
| $13.53M | $14.79M | $18.63M |
SCHQ vs. LTPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SCHQ Schwab Long-Term U.S. Treasury ETF | -2.90% | 5.50% | -6.44% | 3.43% | -29.44% | -4.86% | 17.73% | -4.20% |
LTPZ PIMCO 15+ Year U.S. TIPS Index ETF | -3.35% | 4.00% | -4.80% | 0.96% | -31.71% | 7.02% | 24.89% | -1.07% |
Correlation
The correlation between SCHQ and LTPZ is 0.92, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019 | 0.82 |
The correlation between SCHQ and LTPZ shifts across timeframes, from 0.82 (all time) to 0.92 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SCHQ vs. LTPZ — Risk / Return Rank
SCHQ
LTPZ
SCHQ vs. LTPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Long-Term U.S. Treasury ETF (SCHQ) and PIMCO 15+ Year U.S. TIPS Index ETF (LTPZ). 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.
| SCHQ | LTPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 0.97 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | -0.26 | +0.07 |
| Martin ratioReturn relative to average drawdown | -0.41 | -0.54 | +0.13 |
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Drawdowns
SCHQ vs. LTPZ - Drawdown Comparison
The maximum SCHQ drawdown since its inception was -46.13%, which is greater than LTPZ's maximum drawdown of -40.99%. Use the drawdown chart below to compare losses from any high point for SCHQ and LTPZ.
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Drawdown Indicators
| SCHQ | LTPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.13% | -40.99% | -5.14% |
Max Drawdown (1Y)Largest decline over 1 year | -7.05% | -8.09% | +1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -13.38% | -12.64% | -0.74% |
Max Drawdown (5Y)Largest decline over 5 years | -40.93% | -40.99% | +0.06% |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.99% | — |
Current DrawdownCurrent decline from peak | -38.39% | -35.26% | -3.13% |
Average DrawdownAverage peak-to-trough decline | -26.61% | -12.61% | -14.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 3.89% | -0.66% |
Volatility
SCHQ vs. LTPZ - Volatility Comparison
Schwab Long-Term U.S. Treasury ETF (SCHQ) has a higher volatility of 2.30% compared to PIMCO 15+ Year U.S. TIPS Index ETF (LTPZ) at 2.08%. This indicates that SCHQ's price experiences larger fluctuations and is considered to be riskier than LTPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHQ | LTPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.30% | 2.08% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 6.30% | 6.77% | -0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.41% | 9.01% | -0.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.41% | 15.86% | -1.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.20% | 15.02% | +0.18% |
SCHQ vs. LTPZ - Expense Ratio Comparison
SCHQ has a 0.03% expense ratio, which is lower than LTPZ's 0.20% 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
SCHQ vs. LTPZ - Dividend Comparison
SCHQ's dividend yield for the trailing twelve months is around 4.92%, less than LTPZ's 7.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year U.S. TIPS Index ETF | 7.00% | 4.64% | 3.71% | 3.71% | 8.38% | 3.56% | 1.42% | 1.74% | 3.05% | 2.25% | 2.32% | 0.71% |
SCHQ Schwab Long-Term U.S. Treasury ETF | 4.92% | 4.54% | 4.58% | 3.79% | 2.88% | 1.69% | 1.51% | 0.44% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, SCHQ and LTPZ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SCHQ has higher volatility (2.30%) compared to LTPZ (2.08%). In terms of maximum drawdown, SCHQ dropped -46.13% vs LTPZ's -40.99%.
On 5-year performance, SCHQ leads with -7.19% vs -7.35% for LTPZ. On fees, SCHQ is cheaper at 0.03% per year. On volatility, LTPZ has been the lower-risk option at 2.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SCHQ has performed better with a -7.19% return vs -7.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHQ is cheaper with a 0.03% expense ratio, compared with 0.20% for LTPZ.
LTPZ has the higher dividend yield at 7.00%, compared with 4.92% for SCHQ.
SCHQ is categorized as Government Bonds, while LTPZ is Inflation-Protected Bonds. SCHQ tracks Bloomberg U.S. Long Treasury Index, while LTPZ tracks ICE BofA US Inflation-Linked Treasury (15+ Y). They also come from different issuers: Charles Schwab and PIMCO. Their fees differ too: 0.03% for SCHQ and 0.20% for LTPZ.
SCHQ currently has the higher Sharpe Ratio (-0.16 vs -0.23), 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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