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SPHQ vs. SCHP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPHQ vs. SCHP

Last updated Jun 13, 2026

SPHQ (Invesco S&P 500 Quality ETF) and SCHP (Schwab U.S. TIPS ETF) are both exchange-traded funds - SPHQ is a S&P 500 fund tracking the S&P 500 Quality Index, while SCHP is a Inflation-Protected Bonds fund tracking the Bloomberg US Treasury Inflation-Linked Bond Index (Series-L). Both are passively managed. Over the past 10 years, SPHQ returned 15.27%/yr vs 2.60%/yr for SCHP. At a correlation of -0.07, they often move in opposite directions. SPHQ charges 0.15%/yr vs 0.03%/yr for SCHP.

Performance

SPHQ vs. SCHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Quality ETF (SPHQ) and Schwab U.S. TIPS ETF (SCHP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SPHQ achieves a 16.79% return, which is significantly higher than SCHP's 1.42% return. Over the past 10 years, SPHQ has outperformed SCHP with an annualized return of 15.27%, while SCHP has yielded a comparatively lower 2.60% annualized return.

SPHQ

1D
1.02%
1M
4.96%
YTD
16.79%
6M
15.77%
1Y
26.53%
3Y*
22.40%
5Y*
14.55%
10Y*
15.27%

SCHP

1D
0.04%
1M
-0.10%
YTD
1.42%
6M
1.48%
1Y
4.83%
3Y*
4.14%
5Y*
1.06%
10Y*
2.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPHQ vs. SCHP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPHQ
Invesco S&P 500 Quality ETF		16.79%13.25%25.44%24.83%-15.76%28.03%17.36%33.64%-7.10%19.10%
SCHP
Schwab U.S. TIPS ETF		1.42%6.76%1.95%3.91%-12.02%5.87%10.86%8.52%-1.78%3.02%

Correlation

The correlation between SPHQ and SCHP is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.21

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

0.19

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

0.16

Correlation (10Y)
Calculated over the trailing 10-year period

0.05

Correlation (All Time)
Calculated using the full available price history since Aug 5, 2010

-0.07

The correlation between SPHQ and SCHP shifts across timeframes, from -0.07 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.

SPHQ vs. SCHP - Sectors Allocation Comparison

Sectors
SPHQ
SCHP

Technology

28.1%

-

Industrials

24.3%

-

Consumer Defensive

15.4%

-

Financial Services

13.3%
0.0%

Healthcare

8.4%

-

Consumer Cyclical

4.6%
100.0%

Basic Materials

2.2%

-

Communication Services

2.0%

-

Utilities

1.0%

-

Energy

0.7%

-

Real Estate

-

-

Technology

SPHQ
28.1%
SCHP

-

Industrials

SPHQ
24.3%
SCHP

-

Consumer Defensive

SPHQ
15.4%
SCHP

-

Financial Services

SPHQ
13.3%
SCHP
0.0%

Healthcare

SPHQ
8.4%
SCHP

-

Consumer Cyclical

SPHQ
4.6%
SCHP
100.0%

Basic Materials

SPHQ
2.2%
SCHP

-

Communication Services

SPHQ
2.0%
SCHP

-

Utilities

SPHQ
1.0%
SCHP

-

Energy

SPHQ
0.7%
SCHP

-

Real Estate

SPHQ

-

SCHP

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco S&P 500 Quality ETF

Schwab U.S. TIPS ETF

Often compared with SPHQ:
SPHQ vs. QUALSPHQ vs. VOOSPHQ vs. SPYSPHQ vs. JQUASPHQ vs. SCHDSPHQ vs. SPYVSPHQ vs. QQQ
Often compared with SCHP:
SCHP vs. VTIPSCHP vs. TIPSCHP vs. SCHZSCHP vs. FIPDXSCHP vs. STIPSCHP vs. SCHDSCHP vs. BND

Return for Risk

SPHQ vs. SCHP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPHQ
SPHQ Risk / Return Rank: 6666
Overall Rank
SPHQ Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
SPHQ Sortino Ratio Rank: 6868
Sortino Ratio Rank
SPHQ Omega Ratio Rank: 6060
Omega Ratio Rank
SPHQ Calmar Ratio Rank: 6363
Calmar Ratio Rank
SPHQ Martin Ratio Rank: 7373
Martin Ratio Rank
SCHP
SCHP Risk / Return Rank: 5050
Overall Rank
SCHP Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
SCHP Sortino Ratio Rank: 5151
Sortino Ratio Rank
SCHP Omega Ratio Rank: 4545
Omega Ratio Rank
SCHP Calmar Ratio Rank: 5656
Calmar Ratio Rank
SCHP Martin Ratio Rank: 5050
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.

SPHQ vs. SCHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Quality ETF (SPHQ) and Schwab U.S. TIPS ETF (SCHP). 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.

SPHQSCHPDifference
Sharpe ratioReturn per unit of total volatility
1.85
1.44

+0.42

Sortino ratioReturn per unit of downside risk
2.67
2.19

+0.48

Omega ratioGain probability vs. loss probability

1.32

1.25

+0.06

Calmar ratioReturn relative to maximum drawdown

2.75

2.45

+0.29

Martin ratioReturn relative to average drawdown

11.76

7.41

+4.36

SPHQ vs. SCHP - Sharpe Ratio Comparison

The current SPHQ Sharpe Ratio is 1.85, which is comparable to the SCHP Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of SPHQ and SCHP, 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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Drawdowns

SPHQ vs. SCHP - Drawdown Comparison

The maximum SPHQ drawdown since its inception was -57.83%, which is greater than SCHP's maximum drawdown of -14.26%. Use the drawdown chart below to compare losses from any high point for SPHQ and SCHP.

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Drawdown Indicators

SPHQSCHPDifference

Max Drawdown

Largest peak-to-trough decline

-57.83%

-14.26%

-43.57%

Max Drawdown (1Y)

Largest decline over 1 year

-8.90%

-1.93%

-6.97%

Max Drawdown (3Y)

Largest decline over 3 years

-16.57%

-4.48%

-12.09%

Max Drawdown (5Y)

Largest decline over 5 years

-25.04%

-14.26%

-10.78%

Max Drawdown (10Y)

Largest decline over 10 years

-31.60%

-14.26%

-17.34%

Current Drawdown

Current decline from peak

0.00%

-0.44%

+0.44%

Average Drawdown

Average peak-to-trough decline

-10.69%

-3.93%

-6.76%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.09%

0.64%

+1.45%

Volatility

SPHQ vs. SCHP - Volatility Comparison

Invesco S&P 500 Quality ETF (SPHQ) has a higher volatility of 4.92% compared to Schwab U.S. TIPS ETF (SCHP) at 1.02%. This indicates that SPHQ's price experiences larger fluctuations and is considered to be riskier than SCHP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPHQSCHPDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.92%

1.02%

+3.90%

Volatility (6M)

Calculated over the trailing 6-month period

10.83%

2.24%

+8.59%

Volatility (1Y)

Calculated over the trailing 1-year period

13.18%

3.30%

+9.88%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.53%

6.12%

+10.41%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.90%

5.59%

+12.31%

SPHQ vs. SCHP - Expense Ratio Comparison

SPHQ has a 0.15% expense ratio, which is higher than SCHP's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPHQ vs. SCHP - Dividend Comparison

SPHQ's dividend yield for the trailing twelve months is around 1.03%, less than SCHP's 3.99% 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%
SPHQ
Invesco S&P 500 Quality ETF		1.03%1.09%1.15%1.42%1.85%1.19%1.55%1.51%1.85%1.57%1.67%2.29%

Frequently Asked Questions

SPHQ and SCHP have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPHQ has higher volatility (4.92%) compared to SCHP (1.02%). In terms of maximum drawdown, SPHQ dropped -57.83% vs SCHP's -14.26%.

On 10-year performance, SPHQ leads with 15.27% vs 2.60% for SCHP. On fees, SCHP is cheaper at 0.03% per year. On volatility, SCHP has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPHQ has performed better with a 15.27% return vs 2.60%. 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 0.15% for SPHQ.

SCHP has the higher dividend yield at 3.99%, compared with 1.03% for SPHQ.

SPHQ is categorized as S&P 500, while SCHP is Inflation-Protected Bonds. SPHQ tracks S&P 500 Quality Index, while SCHP tracks Bloomberg US Treasury Inflation-Linked Bond Index (Series-L). They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 0.15% for SPHQ and 0.03% for SCHP.

SPHQ currently has the higher Sharpe Ratio (1.85 vs 1.44), 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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