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SPIP vs. SCHD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPIP vs. SCHD

Last updated Jun 4, 2026

SPIP (SPDR Portfolio TIPS ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - SPIP is a Inflation-Protected Bonds fund tracking the Bloomberg Barclays US Government Inflation-linked Bond Index, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 10 years, SPIP returned 2.61%/yr vs 12.77%/yr for SCHD. At a correlation of -0.06, they often move in opposite directions. SPIP charges 0.12%/yr vs 0.06%/yr for SCHD.

Performance

SPIP vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio TIPS ETF (SPIP) and Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SPIP achieves a 1.49% return, which is significantly lower than SCHD's 19.01% return. Over the past 10 years, SPIP has underperformed SCHD with an annualized return of 2.61%, while SCHD has yielded a comparatively higher 12.77% annualized return.

SPIP

1D
-0.16%
1M
0.02%
YTD
1.49%
6M
1.02%
1Y
4.97%
3Y*
3.85%
5Y*
0.87%
10Y*
2.61%

SCHD

1D
0.00%
1M
2.70%
YTD
19.01%
6M
18.63%
1Y
27.16%
3Y*
15.09%
5Y*
8.36%
10Y*
12.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPIP vs. SCHD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPIP
SPDR Portfolio TIPS ETF		1.49%6.78%2.35%2.98%-12.84%5.80%11.41%9.14%-1.53%3.16%
SCHD
Schwab U.S. Dividend Equity ETF		19.01%4.34%11.66%4.54%-3.26%29.87%15.03%27.29%-5.56%20.85%

Correlation

The correlation between SPIP and SCHD is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.13

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

0.21

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

0.16

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

0.03

Correlation (All Time)
Calculated using the full available price history since Oct 21, 2011

-0.06

The correlation between SPIP and SCHD shifts across timeframes, from -0.06 (all time) to 0.21 (3 years), 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.

SPDR Portfolio TIPS ETF

Schwab U.S. Dividend Equity ETF

Often compared with SPIP:
SPIP vs. TIPSPIP vs. VTIPSPIP vs. SCHPSPIP vs. TIPXSPIP vs. FIPDXSPIP vs. TDTTSPIP vs. BKLN
Often compared with SCHD:
SCHD vs. VOOSCHD vs. VYMSCHD vs. SPYSCHD vs. SCHGSCHD vs. JEPISCHD vs. FDVVSCHD vs. VIG

Return for Risk

SPIP vs. SCHD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPIP
SPIP Risk / Return Rank: 4141
Overall Rank
SPIP Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
SPIP Sortino Ratio Rank: 3939
Sortino Ratio Rank
SPIP Omega Ratio Rank: 3737
Omega Ratio Rank
SPIP Calmar Ratio Rank: 4949
Calmar Ratio Rank
SPIP Martin Ratio Rank: 4444
Martin Ratio Rank
SCHD
SCHD Risk / Return Rank: 8080
Overall Rank
SCHD Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
SCHD Sortino Ratio Rank: 8484
Sortino Ratio Rank
SCHD Omega Ratio Rank: 7373
Omega Ratio Rank
SCHD Calmar Ratio Rank: 9191
Calmar Ratio Rank
SCHD Martin Ratio Rank: 7575
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.

SPIP vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio TIPS ETF (SPIP) and Schwab U.S. Dividend Equity ETF (SCHD). 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.

SPIPSCHDDifference
Sharpe ratioReturn per unit of total volatility
1.40
2.49

-1.10

Sortino ratioReturn per unit of downside risk
2.04
3.87

-1.82

Omega ratioGain probability vs. loss probability

1.25

1.45

-0.20

Calmar ratioReturn relative to maximum drawdown

2.44

5.91

-3.47

Martin ratioReturn relative to average drawdown

7.15

14.53

-7.38

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

SPIP vs. SCHD - Sharpe Ratio Comparison

The current SPIP Sharpe Ratio is 1.40, which is lower than the SCHD Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of SPIP and SCHD, 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

SPIPSCHDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.40

2.49

-1.10

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.13

0.58

-0.45

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.44

0.77

-0.33

Sharpe Ratio (All Time)

Calculated using the full available price history

0.53

0.86

-0.33

Drawdowns

SPIP vs. SCHD - Drawdown Comparison

The maximum SPIP drawdown since its inception was -15.39%, smaller than the maximum SCHD drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for SPIP and SCHD.

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Drawdown Indicators

SPIPSCHDDifference

Max Drawdown

Largest peak-to-trough decline

-15.39%

-33.37%

+17.98%

Max Drawdown (1Y)

Largest decline over 1 year

-2.04%

-4.61%

+2.57%

Max Drawdown (3Y)

Largest decline over 3 years

-4.76%

-16.13%

+11.37%

Max Drawdown (5Y)

Largest decline over 5 years

-15.39%

-16.85%

+1.46%

Max Drawdown (10Y)

Largest decline over 10 years

-15.39%

-33.37%

+17.98%

Current Drawdown

Current decline from peak

-1.02%

-1.40%

+0.38%

Average Drawdown

Average peak-to-trough decline

-4.10%

-3.32%

-0.78%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.70%

1.88%

-1.18%

Volatility

SPIP vs. SCHD - Volatility Comparison

The current volatility for SPDR Portfolio TIPS ETF (SPIP) is 0.95%, while Schwab U.S. Dividend Equity ETF (SCHD) has a volatility of 2.66%. This indicates that SPIP experiences smaller price fluctuations and is considered to be less risky than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPIPSCHDDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.95%

2.66%

-1.71%

Volatility (6M)

Calculated over the trailing 6-month period

2.54%

7.66%

-5.12%

Volatility (1Y)

Calculated over the trailing 1-year period

3.57%

10.96%

-7.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.57%

14.38%

-7.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.01%

16.72%

-10.71%

SPIP vs. SCHD - Expense Ratio Comparison

SPIP has a 0.12% expense ratio, which is higher than SCHD's 0.06% 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

SPIP vs. SCHD - Dividend Comparison

SPIP's dividend yield for the trailing twelve months is around 4.75%, more than SCHD's 3.26% yield.

PositionTTM20252024202320222021202020192018201720162015
SCHD
Schwab U.S. Dividend Equity ETF		3.26%3.82%3.64%3.49%3.39%2.78%3.16%2.98%3.06%2.63%2.89%2.97%
SPIP
SPDR Portfolio TIPS ETF		4.75%4.09%3.36%3.70%7.05%4.53%1.97%2.91%2.80%3.02%1.88%0.14%

Frequently Asked Questions

SPIP and SCHD have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SCHD has higher volatility (2.66%) compared to SPIP (0.95%). In terms of maximum drawdown, SPIP dropped -15.39% vs SCHD's -33.37%.

On 10-year performance, SCHD leads with 12.77% vs 2.61% for SPIP. On fees, SCHD is cheaper at 0.06% per year. On volatility, SPIP has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SCHD has performed better with a 12.77% return vs 2.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SCHD is cheaper with a 0.06% expense ratio, compared with 0.12% for SPIP.

SPIP has the higher dividend yield at 4.75%, compared with 3.26% for SCHD.

SPIP is categorized as Inflation-Protected Bonds, while SCHD is Dividend. SPIP tracks Bloomberg Barclays US Government Inflation-linked Bond Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: State Street and Charles Schwab. Their fees differ too: 0.12% for SPIP and 0.06% for SCHD.

SCHD currently has the higher Sharpe Ratio (2.49 vs 1.40), 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.

Portfolio Optimizer

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