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SCHQ vs. LTPZ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SCHQ vs. LTPZ

Last updated Jun 4, 2026

SCHQ (Schwab Long-Term U.S. Treasury ETF) and LTPZ (PIMCO 15+ Year US 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 -5.29%/yr vs -5.24%/yr for LTPZ. Their correlation of 0.82 suggests significant overlap in exposure. SCHQ charges 0.03%/yr vs 0.20%/yr for LTPZ.

Performance

SCHQ vs. LTPZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Long-Term U.S. Treasury ETF (SCHQ) and PIMCO 15+ Year US TIPS Index ETF (LTPZ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SCHQ achieves a -0.43% return, which is significantly lower than LTPZ's 0.41% return.

SCHQ

1D
-0.45%
1M
0.65%
YTD
-0.43%
6M
-1.74%
1Y
5.22%
3Y*
-0.72%
5Y*
-5.29%
10Y*
—

LTPZ

1D
-0.49%
1M
1.02%
YTD
0.41%
6M
-1.15%
1Y
4.72%
3Y*
-0.79%
5Y*
-5.24%
10Y*
0.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SCHQ vs. LTPZ - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
SCHQ
Schwab Long-Term U.S. Treasury ETF		-0.43%5.50%-6.44%3.43%-29.44%-4.86%17.73%-4.02%
LTPZ
PIMCO 15+ Year US TIPS Index ETF		0.41%4.00%-4.80%0.96%-31.71%7.02%24.89%0.16%

Correlation

The correlation between SCHQ and LTPZ is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.93

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

0.92

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

0.83

Correlation (All Time)
Calculated using the full available price history since Oct 11, 2019

0.82

The correlation between SCHQ and LTPZ shifts across timeframes, from 0.82 (all time) to 0.93 (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 Long-Term U.S. Treasury ETF

PIMCO 15+ Year US TIPS Index ETF

Often compared with SCHQ:
SCHQ vs. TLTSCHQ vs. SCHOSCHQ vs. VGLTSCHQ vs. SCHRSCHQ vs. SCHDSCHQ vs. SCHISCHQ vs. SCHG
Often compared with LTPZ:
LTPZ vs. SCHPLTPZ vs. TLTLTPZ vs. TIPXLTPZ vs. VTIPLTPZ vs. VGLTLTPZ vs. HYSLTPZ vs. JNK

Return for Risk

SCHQ vs. LTPZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SCHQ
SCHQ Risk / Return Rank: 1717
Overall Rank
SCHQ Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
SCHQ Sortino Ratio Rank: 1717
Sortino Ratio Rank
SCHQ Omega Ratio Rank: 1616
Omega Ratio Rank
SCHQ Calmar Ratio Rank: 1818
Calmar Ratio Rank
SCHQ Martin Ratio Rank: 1818
Martin Ratio Rank
LTPZ
LTPZ Risk / Return Rank: 1616
Overall Rank
LTPZ Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
LTPZ Sortino Ratio Rank: 1515
Sortino Ratio Rank
LTPZ Omega Ratio Rank: 1515
Omega Ratio Rank
LTPZ Calmar Ratio Rank: 1717
Calmar Ratio Rank
LTPZ Martin Ratio Rank: 1616
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.

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 US 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.

SCHQLTPZDifference
Sharpe ratioReturn per unit of total volatility
0.59
0.51

+0.07

Sortino ratioReturn per unit of downside risk
0.91
0.78

+0.13

Omega ratioGain probability vs. loss probability

1.10

1.09

+0.01

Calmar ratioReturn relative to maximum drawdown

0.75

0.68

+0.07

Martin ratioReturn relative to average drawdown

1.94

1.48

+0.46

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

SCHQ vs. LTPZ - Sharpe Ratio Comparison

The current SCHQ Sharpe Ratio is 0.59, which is comparable to the LTPZ Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of SCHQ and LTPZ, 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

SCHQLTPZDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.59

0.51

+0.07

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.37

-0.33

-0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.05

—

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.25

0.21

-0.46

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

SCHQLTPZDifference

Max Drawdown

Largest peak-to-trough decline

-46.13%

-40.99%

-5.14%

Max Drawdown (1Y)

Largest decline over 1 year

-7.01%

-7.00%

-0.01%

Max Drawdown (3Y)

Largest decline over 3 years

-17.65%

-16.27%

-1.38%

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 Drawdown

Current decline from peak

-36.82%

-32.74%

-4.08%

Average Drawdown

Average peak-to-trough decline

-26.36%

-12.41%

-13.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.70%

3.20%

-0.50%

Volatility

SCHQ vs. LTPZ - Volatility Comparison

Schwab Long-Term U.S. Treasury ETF (SCHQ) has a higher volatility of 2.57% compared to PIMCO 15+ Year US TIPS Index ETF (LTPZ) at 2.32%. 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

SCHQLTPZDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.57%

2.32%

+0.25%

Volatility (6M)

Calculated over the trailing 6-month period

5.94%

6.41%

-0.47%

Volatility (1Y)

Calculated over the trailing 1-year period

8.93%

9.26%

-0.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.54%

15.89%

-1.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.33%

15.07%

+0.26%

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 4.79%, less than LTPZ's 5.23% yield.

PositionTTM20252024202320222021202020192018201720162015
LTPZ
PIMCO 15+ Year US TIPS Index ETF		5.23%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		4.79%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 0.93, 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 (2.57%) compared to LTPZ (2.32%). In terms of maximum drawdown, SCHQ dropped -46.13% vs LTPZ's -40.99%.

On 5-year performance, LTPZ leads with -5.24% vs -5.29% for SCHQ. On fees, SCHQ is cheaper at 0.03% per year. On volatility, LTPZ has been the lower-risk option at 2.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, LTPZ has performed better with a -5.24% return vs -5.29%. 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 5.23%, compared with 4.79% 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 (0.59 vs 0.51), 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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