TDTF vs. SCHP
TDTF (FlexShares iBoxx 5-Year Target Duration TIPS Index Fund) and SCHP (Schwab U.S. TIPS ETF) are both Inflation-Protected Bonds funds - TDTF tracks the iBoxx 5-Year Target Duration TIPS while SCHP tracks the Bloomberg US Treasury Inflation-Linked Bond Index (Series-L). Both are passively managed. Over the past 10 years, TDTF returned 2.84%/yr vs 2.53%/yr for SCHP. Their correlation of 0.88 suggests significant overlap in exposure. TDTF charges 0.18%/yr vs 0.03%/yr for SCHP.
Performance
TDTF vs. SCHP - Performance Comparison
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Returns By Period
In the year-to-date period, TDTF achieves a 1.10% return, which is significantly lower than SCHP's 1.34% return. Over the past 10 years, TDTF has outperformed SCHP with an annualized return of 2.84%, while SCHP has yielded a comparatively lower 2.53% annualized return.
TDTF
- 1D
- 0.21%
- 1M
- -0.31%
- YTD
- 1.10%
- 6M
- 1.12%
- 1Y
- 3.71%
- 3Y*
- 4.40%
- 5Y*
- 1.70%
- 10Y*
- 2.84%
SCHP
- 1D
- 0.19%
- 1M
- 0.01%
- YTD
- 1.34%
- 6M
- 1.23%
- 1Y
- 3.89%
- 3Y*
- 3.85%
- 5Y*
- 1.07%
- 10Y*
- 2.53%
TDTF vs. SCHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund | 1.10% | 7.83% | 2.40% | 4.10% | -9.73% | 5.54% | 9.98% | 7.99% | -0.82% | 1.93% |
SCHP Schwab U.S. TIPS ETF | 1.34% | 6.76% | 1.95% | 3.91% | -12.02% | 5.87% | 10.86% | 8.52% | -1.78% | 3.02% |
Correlation
The correlation between TDTF and SCHP is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2011 | 0.88 |
The correlation between TDTF and SCHP has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.
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Return for Risk
TDTF vs. SCHP — Risk / Return Rank
TDTF
SCHP
TDTF vs. SCHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF) 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.
| TDTF | SCHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.20 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 2.02 | +0.34 |
| Martin ratioReturn relative to average drawdown | 6.99 | 5.98 | +1.01 |
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Drawdowns
TDTF vs. SCHP - Drawdown Comparison
The maximum TDTF drawdown since its inception was -12.02%, smaller than the maximum SCHP drawdown of -14.26%. Use the drawdown chart below to compare losses from any high point for TDTF and SCHP.
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Drawdown Indicators
| TDTF | SCHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.02% | -14.26% | +2.24% |
Max Drawdown (1Y)Largest decline over 1 year | -1.58% | -1.93% | +0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -3.79% | -4.48% | +0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -12.02% | -14.26% | +2.24% |
Max Drawdown (10Y)Largest decline over 10 years | -12.02% | -14.26% | +2.24% |
Current DrawdownCurrent decline from peak | -0.98% | -0.51% | -0.47% |
Average DrawdownAverage peak-to-trough decline | -2.90% | -3.92% | +1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 0.65% | -0.12% |
Volatility
TDTF vs. SCHP - Volatility Comparison
FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF) and Schwab U.S. TIPS ETF (SCHP) have volatilities of 1.24% and 1.21%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TDTF | SCHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.21% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.23% | 2.41% | -0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.14% | 3.36% | -0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.68% | 6.12% | -0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.07% | 5.59% | -0.52% |
TDTF vs. SCHP - Expense Ratio Comparison
TDTF has a 0.18% 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
TDTF vs. SCHP - Dividend Comparison
TDTF's dividend yield for the trailing twelve months is around 4.73%, more than SCHP's 4.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHP Schwab U.S. TIPS ETF | 4.00% | 4.06% | 2.99% | 3.02% | 7.19% | 4.39% | 1.11% | 2.02% | 2.26% | 1.90% | 1.38% | 0.28% |
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund | 4.73% | 4.58% | 3.98% | 3.97% | 7.60% | 4.55% | 1.13% | 1.80% | 2.60% | 2.20% | 1.51% | 0.21% |
Frequently Asked Questions
With a correlation of 0.91, TDTF and SCHP 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.
TDTF has higher volatility (1.24%) compared to SCHP (1.21%). In terms of maximum drawdown, TDTF dropped -12.02% vs SCHP's -14.26%.
On 10-year performance, TDTF leads with 2.84% vs 2.53% for SCHP. On fees, SCHP is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TDTF has performed better with a 2.84% return vs 2.53%. 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 0.18% for TDTF.
TDTF has the higher dividend yield at 4.73%, compared with 4.00% for SCHP.
TDTF tracks iBoxx 5-Year Target Duration TIPS, while SCHP tracks Bloomberg US Treasury Inflation-Linked Bond Index (Series-L). They also come from different issuers: Northern Trust and Charles Schwab. Their fees differ too: 0.18% for TDTF and 0.03% for SCHP.
TDTF currently has the higher Sharpe Ratio (1.19 vs 1.16), 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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