SWRSX vs. TIP
SWRSX (Schwab Treasury Inflation Protected Securities Index Fund) and TIP (iShares TIPS Bond ETF) are both Inflation-Protected Bonds funds. Over the past 10 years, SWRSX returned 2.40%/yr vs 2.37%/yr for TIP. Their correlation of 0.92 means they have usually moved in the same direction. SWRSX charges 0.05%/yr vs 0.18%/yr for TIP.
Performance
SWRSX vs. TIP - Performance Comparison
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Returns By Period
In the year-to-date period, SWRSX achieves a 0.70% return, which is significantly higher than TIP's 0.54% return. Both investments have delivered pretty close results over the past 10 years, with SWRSX having a 2.40% annualized return and TIP not far behind at 2.37%.
SWRSX
- 1D
- 0.00%
- 1M
- -0.49%
- 6M
- 0.22%
- YTD
- 0.70%
- 1Y
- 2.04%
- 3Y*
- 3.69%
- 5Y*
- 0.31%
- 10Y*
- 2.40%
- ALL TIME*
- 3.30%
TIP
- 1D
- -0.10%
- 1M
- -0.65%
- 6M
- 0.02%
- YTD
- 0.54%
- 1Y
- 1.79%
- 3Y*
- 3.73%
- 5Y*
- 0.16%
- 10Y*
- 2.37%
- ALL TIME*
- 3.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $209.70M | $179.93M | $215.65M |
SWRSX vs. TIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SWRSX Schwab Treasury Inflation Protected Securities Index Fund | 0.70% | 6.84% | 1.95% | 3.80% | -12.01% | 5.83% | 10.88% | 8.38% | -1.32% | 2.69% |
TIP iShares TIPS Bond ETF | 0.54% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 10.84% | 8.35% | -1.42% | 2.92% |
Correlation
The correlation between SWRSX and TIP is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.96 |
Correlation (3Y) Balances recent behavior with more history. | 0.97 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2006 | 0.92 |
The correlation between SWRSX and TIP has been stable across timeframes, ranging from 0.92 to 0.98 - a consistent structural relationship.
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Return for Risk
SWRSX vs. TIP — Risk / Return Rank
SWRSX
TIP
SWRSX vs. TIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Treasury Inflation Protected Securities Index Fund (SWRSX) and iShares TIPS Bond ETF (TIP). 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.
| SWRSX | TIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.13 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 1.27 | +0.06 |
| Martin ratioReturn relative to average drawdown | 3.65 | 3.39 | +0.26 |
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Drawdowns
SWRSX vs. TIP - Drawdown Comparison
The maximum SWRSX drawdown since its inception was -14.29%, roughly equal to the maximum TIP drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for SWRSX and TIP.
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Drawdown Indicators
| SWRSX | TIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.29% | -14.57% | +0.28% |
Max Drawdown (1Y)Largest decline over 1 year | -1.90% | -1.98% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -3.96% | -3.71% | -0.25% |
Max Drawdown (5Y)Largest decline over 5 years | -14.29% | -14.51% | +0.22% |
Max Drawdown (10Y)Largest decline over 10 years | -14.29% | -14.51% | +0.22% |
Current DrawdownCurrent decline from peak | -1.09% | -1.31% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -3.70% | -3.41% | -0.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.70% | 0.74% | -0.04% |
Volatility
SWRSX vs. TIP - Volatility Comparison
Schwab Treasury Inflation Protected Securities Index Fund (SWRSX) has a higher volatility of 0.77% compared to iShares TIPS Bond ETF (TIP) at 0.73%. This indicates that SWRSX's price experiences larger fluctuations and is considered to be riskier than TIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SWRSX | TIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 0.73% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.38% | 2.52% | -0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.18% | 3.39% | -0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.01% | 6.19% | -0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.36% | 5.72% | -0.36% |
SWRSX vs. TIP - Expense Ratio Comparison
SWRSX has a 0.05% expense ratio, which is lower than TIP's 0.18% 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
SWRSX vs. TIP - Dividend Comparison
SWRSX's dividend yield for the trailing twelve months is around 4.44%, which matches TIP's 4.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWRSX Schwab Treasury Inflation Protected Securities Index Fund | 4.44% | 4.20% | 3.68% | 3.11% | 7.95% | 4.45% | 1.33% | 2.20% | 2.87% | 1.75% | 1.81% | 1.06% |
TIP iShares TIPS Bond ETF | 4.22% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
Frequently Asked Questions
With a correlation of 0.96, SWRSX and TIP 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.
SWRSX has higher volatility (0.77%) compared to TIP (0.73%). In terms of maximum drawdown, SWRSX dropped -14.29% vs TIP's -14.57%.
SWRSX currently has the higher Sharpe Ratio (0.80 vs 0.74), 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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