SCYB vs. DFIP

Last updated Jun 4, 2026

SCYB (Schwab High Yield Bond ETF) and DFIP (Dimensional Inflation-Protected Securities ETF) are both exchange-traded funds - SCYB is a High Yield Bonds fund tracking the ICE BofA US Cash Pay High Yield Constrained Index, while DFIP is a Inflation-Protected Bonds fund actively managed by Dimensional. SCYB is passively managed, while DFIP is actively managed. Over the past year, SCYB returned 6.99% vs 5.08% for DFIP. A 0.52 correlation means they provide meaningful diversification when combined. SCYB charges 0.03%/yr vs 0.11%/yr for DFIP.

Performance

SCYB vs. DFIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab High Yield Bond ETF (SCYB) and Dimensional Inflation-Protected Securities ETF (DFIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SCYB having a 1.55% return and DFIP slightly lower at 1.49%.

SCYB

• 1D: -0.29%
• 1M: 0.36%
• YTD: 1.55%
• 6M: 1.87%
• 1Y: 6.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFIP

• 1D: -0.26%
• 1M: -0.23%
• YTD: 1.49%
• 6M: 0.95%
• 1Y: 5.08%
• 3Y*: 4.18%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SCYB vs. DFIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SCYB Schwab High Yield Bond ETF	1.55%	8.33%	8.15%	6.74%
DFIP Dimensional Inflation-Protected Securities ETF	1.49%	7.54%	1.72%	3.10%

Correlation

The correlation between SCYB and DFIP is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jul 12, 2023	0.52

The correlation between SCYB and DFIP has been stable across timeframes, ranging from 0.43 to 0.52 - a consistent structural relationship.

Return for Risk

SCYB vs. DFIP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SCYB

SCYB Risk / Return Rank: 59
SCYB Sharpe Ratio Rank: 54
SCYB Sortino Ratio Rank: 58
SCYB Omega Ratio Rank: 59
SCYB Calmar Ratio Rank: 57
SCYB Martin Ratio Rank: 68

DFIP

DFIP Risk / Return Rank: 45
DFIP Sharpe Ratio Rank: 41
DFIP Sortino Ratio Rank: 46
DFIP Omega Ratio Rank: 41
DFIP Calmar Ratio Rank: 50
DFIP Martin Ratio Rank: 46

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.

SCYB vs. DFIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab High Yield Bond ETF (SCYB) and Dimensional Inflation-Protected Securities ETF (DFIP). 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.

	SCYB	DFIP	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.48	+0.39
Sortino ratio: Return per unit of downside risk	2.81	2.28	+0.53
Omega ratio: Gain probability vs. loss probability	1.37	1.27	+0.10
Calmar ratio: Return relative to maximum drawdown	2.87	2.48	+0.39
Martin ratio: Return relative to average drawdown	12.87	7.52	+5.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCYB vs. DFIP - Sharpe Ratio Comparison

The current SCYB Sharpe Ratio is 1.88, which is comparable to the DFIP Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of SCYB and DFIP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SCYB	DFIP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	1.48	+0.39
Sharpe Ratio (All Time) Calculated using the full available price history	1.68	0.04	+1.65

Drawdowns

SCYB vs. DFIP - Drawdown Comparison

The maximum SCYB drawdown since its inception was -4.92%, smaller than the maximum DFIP drawdown of -14.96%. Use the drawdown chart below to compare losses from any high point for SCYB and DFIP.

Drawdown Indicators

	SCYB	DFIP	Difference
Max Drawdown Largest peak-to-trough decline	-4.92%	-14.96%	+10.04%
Max Drawdown (1Y) Largest decline over 1 year	-2.44%	-2.06%	-0.38%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.82%	—
Current Drawdown Current decline from peak	-0.33%	-0.47%	+0.14%
Average Drawdown Average peak-to-trough decline	-0.52%	-6.95%	+6.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	0.68%	-0.14%

Volatility

SCYB vs. DFIP - Volatility Comparison

Schwab High Yield Bond ETF (SCYB) has a higher volatility of 1.07% compared to Dimensional Inflation-Protected Securities ETF (DFIP) at 0.93%. This indicates that SCYB's price experiences larger fluctuations and is considered to be riskier than DFIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCYB	DFIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	0.93%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	2.93%	2.32%	+0.61%
Volatility (1Y) Calculated over the trailing 1-year period	3.76%	3.44%	+0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.13%	6.81%	-1.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.13%	6.81%	-1.68%

SCYB vs. DFIP - Expense Ratio Comparison

SCYB has a 0.03% expense ratio, which is lower than DFIP's 0.11% 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

SCYB vs. DFIP - Dividend Comparison

SCYB's dividend yield for the trailing twelve months is around 6.94%, more than DFIP's 3.88% yield.

Position	TTM	2025	2024	2023	2022	2021
DFIP Dimensional Inflation-Protected Securities ETF	3.88%	4.70%	3.69%	3.68%	5.97%	0.56%
SCYB Schwab High Yield Bond ETF	6.94%	6.99%	7.06%	3.36%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SCYB and DFIP in my portfolio?

SCYB and DFIP have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCYB or DFIP?

SCYB has higher volatility (1.07%) compared to DFIP (0.93%). In terms of maximum drawdown, SCYB dropped -4.92% vs DFIP's -14.96%.

Which ETF is better, SCYB or DFIP?

On 1-year performance, SCYB leads with 6.99% vs 5.08% for DFIP. On fees, SCYB is cheaper at 0.03% per year. On volatility, DFIP has been the lower-risk option at 0.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCYB or DFIP?

Over the 1-year period, SCYB has performed better with a 6.99% return vs 5.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCYB or DFIP?

SCYB is cheaper with a 0.03% expense ratio, compared with 0.11% for DFIP.

Which ETF pays a higher dividend yield, SCYB or DFIP?

SCYB has the higher dividend yield at 6.94%, compared with 3.88% for DFIP.

What is the main difference between SCYB and DFIP?

SCYB is categorized as High Yield Bonds, while DFIP is Inflation-Protected Bonds. They also come from different issuers: Charles Schwab and Dimensional. Their fees differ too: 0.03% for SCYB and 0.11% for DFIP.

Which has better risk-adjusted returns?

SCYB currently has the higher Sharpe Ratio (1.88 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.