TIP vs. SWRSX
TIP (iShares TIPS Bond ETF) and SWRSX (Schwab Treasury Inflation Protected Securities Index Fund) are both Inflation-Protected Bonds funds. Over the past 10 years, TIP returned 2.57%/yr vs 2.66%/yr for SWRSX. Their correlation of 0.92 suggests significant overlap in exposure. TIP charges 0.18%/yr vs 0.05%/yr for SWRSX.
Performance
TIP vs. SWRSX - Performance Comparison
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Returns By Period
In the year-to-date period, TIP achieves a 1.54% return, which is significantly lower than SWRSX's 1.72% return. Both investments have delivered pretty close results over the past 10 years, with TIP having a 2.57% annualized return and SWRSX not far ahead at 2.66%.
TIP
- 1D
- -0.18%
- 1M
- -0.09%
- YTD
- 1.54%
- 6M
- 1.06%
- 1Y
- 4.96%
- 3Y*
- 3.88%
- 5Y*
- 0.97%
- 10Y*
- 2.57%
SWRSX
- 1D
- 0.00%
- 1M
- 0.10%
- YTD
- 1.72%
- 6M
- 1.28%
- 1Y
- 5.28%
- 3Y*
- 4.09%
- 5Y*
- 1.23%
- 10Y*
- 2.66%
TIP vs. SWRSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIP iShares TIPS Bond ETF | 1.54% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 10.84% | 8.35% | -1.42% | 2.92% |
SWRSX Schwab Treasury Inflation Protected Securities Index Fund | 1.72% | 6.84% | 1.95% | 3.80% | -12.01% | 5.83% | 10.88% | 8.38% | -1.32% | 2.69% |
Correlation
The correlation between TIP and SWRSX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2006 | 0.92 |
The correlation between TIP and SWRSX has been stable across timeframes, ranging from 0.92 to 0.98 - a consistent structural relationship.
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Return for Risk
TIP vs. SWRSX — Risk / Return Rank
TIP
SWRSX
TIP vs. SWRSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares TIPS Bond ETF (TIP) and Schwab Treasury Inflation Protected Securities Index Fund (SWRSX). 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.
| TIP | SWRSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.30 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 2.73 | -0.21 |
| Martin ratioReturn relative to average drawdown | 7.57 | 8.25 | -0.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TIP | SWRSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 1.61 | -0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.20 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.50 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.58 | 0.00 |
Drawdowns
TIP vs. SWRSX - Drawdown Comparison
The maximum TIP drawdown since its inception was -14.57%, roughly equal to the maximum SWRSX drawdown of -14.29%. Use the drawdown chart below to compare losses from any high point for TIP and SWRSX.
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Drawdown Indicators
| TIP | SWRSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.57% | -14.29% | -0.28% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -1.90% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -4.54% | -4.46% | -0.08% |
Max Drawdown (5Y)Largest decline over 5 years | -14.51% | -14.29% | -0.22% |
Max Drawdown (10Y)Largest decline over 10 years | -14.51% | -14.29% | -0.22% |
Current DrawdownCurrent decline from peak | -0.32% | -0.10% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -3.72% | +0.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.63% | +0.03% |
Volatility
TIP vs. SWRSX - Volatility Comparison
iShares TIPS Bond ETF (TIP) and Schwab Treasury Inflation Protected Securities Index Fund (SWRSX) have volatilities of 0.89% and 0.86%, 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
| TIP | SWRSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 0.86% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 2.20% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.41% | 3.26% | +0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.21% | 6.04% | +0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.74% | 5.37% | +0.37% |
TIP vs. SWRSX - Expense Ratio Comparison
TIP has a 0.18% expense ratio, which is higher than SWRSX's 0.05% 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
TIP vs. SWRSX - Dividend Comparison
TIP's dividend yield for the trailing twelve months is around 3.76%, which matches SWRSX's 3.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWRSX Schwab Treasury Inflation Protected Securities Index Fund | 3.78% | 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 | 3.76% | 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, TIP and SWRSX 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.
TIP has higher volatility (0.89%) compared to SWRSX (0.86%). In terms of maximum drawdown, TIP dropped -14.57% vs SWRSX's -14.29%.
SWRSX currently has the higher Sharpe Ratio (1.61 vs 1.46), 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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