TIPC vs. SCHP

Last updated Jul 4, 2026

TIPC (Northern Trust 2045 Inflation-Linked Distributing Ladder ETF) and SCHP (Schwab U.S. TIPS ETF) are both Inflation-Protected Bonds funds. TIPC is actively managed, while SCHP is passively managed. With a 0.96 correlation, they move nearly in lockstep. TIPC charges 0.10%/yr vs 0.03%/yr for SCHP.

Performance

TIPC vs. SCHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Trust 2045 Inflation-Linked Distributing Ladder ETF (TIPC) and Schwab U.S. TIPS ETF (SCHP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TIPC achieves a 0.93% return, which is significantly lower than SCHP's 1.31% return.

TIPC

• 1D: 0.03%
• 1M: -0.45%
• 6M: 1.01%
• YTD: 0.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SCHP

• 1D: 0.19%
• 1M: -0.30%
• 6M: 1.35%
• YTD: 1.31%
• 1Y: 3.64%
• 3Y*: 3.99%
• 5Y*: 0.89%
• 10Y*: 2.43%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TIPC vs. SCHP - Yearly Performance Comparison

	2026 (YTD)	2025
TIPC Northern Trust 2045 Inflation-Linked Distributing Ladder ETF	0.93%	1.30%
SCHP Schwab U.S. TIPS ETF	1.31%	1.50%

Correlation

The correlation between TIPC and SCHP 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 (All Time) Calculated using the full available price history since Aug 19, 2025	0.96

Return for Risk

TIPC vs. SCHP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TIPC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SCHP

SCHP Risk / Return Rank: 35
SCHP Sharpe Ratio Rank: 33
SCHP Sortino Ratio Rank: 32
SCHP Omega Ratio Rank: 29
SCHP Calmar Ratio Rank: 42
SCHP Martin Ratio Rank: 40

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.

TIPC vs. SCHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust 2045 Inflation-Linked Distributing Ladder ETF (TIPC) 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.

	TIPC	SCHP	Difference
Sharpe ratio: Return per unit of total volatility	—	1.04	—
Sortino ratio: Return per unit of downside risk	—	1.52	—
Omega ratio: Gain probability vs. loss probability	—	1.18	—
Calmar ratio: Return relative to maximum drawdown	—	1.81	—
Martin ratio: Return relative to average drawdown	—	5.34	—

Drawdowns

TIPC vs. SCHP - Drawdown Comparison

The maximum TIPC drawdown since its inception was -2.95%, smaller than the maximum SCHP drawdown of -14.26%. Use the drawdown chart below to compare losses from any high point for TIPC and SCHP.

Drawdown Indicators

	TIPC	SCHP	Difference
Max Drawdown Largest peak-to-trough decline	-2.95%	-14.26%	+11.31%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.93%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.48%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-14.26%	—
Current Drawdown Current decline from peak	-1.26%	-0.54%	-0.72%
Average Drawdown Average peak-to-trough decline	-0.99%	-3.92%	+2.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.65%	—

Volatility

Volatility by Period

	TIPC	SCHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.28%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.45%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.68%	3.37%	+1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.68%	6.12%	-1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.68%	5.59%	-0.91%

TIPC vs. SCHP - Expense Ratio Comparison

TIPC has a 0.10% 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

TIPC vs. SCHP - Dividend Comparison

TIPC's dividend yield for the trailing twelve months is around 4.94%, more than SCHP's 4.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHP Schwab U.S. TIPS ETF	4.47%	4.06%	2.99%	3.02%	7.19%	4.39%	1.11%	2.02%	2.26%	1.90%	1.38%	0.28%
TIPC Northern Trust 2045 Inflation-Linked Distributing Ladder ETF	4.94%	1.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TIPC and SCHP in my portfolio?

With a correlation of 0.96, TIPC 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.

Which ETF is better, TIPC or SCHP?

On fees, SCHP is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TIPC or SCHP?

SCHP is cheaper with a 0.03% expense ratio, compared with 0.10% for TIPC.

Which ETF pays a higher dividend yield, TIPC or SCHP?

TIPC has the higher dividend yield at 4.94%, compared with 4.47% for SCHP.

What is the main difference between TIPC and SCHP?

They also come from different issuers: Northern Trust and Charles Schwab. Their fees differ too: 0.10% for TIPC and 0.03% for SCHP.