TIP vs SCHP: returns, risk and drawdowns compared
iShares TIPS Bond ETF against Schwab U.S. TIPS ETF, over the same 16 years (September 2010 to October 2026) with dividends reinvested.
Data updated October 2026
From September 2010 to October 2026, TIP returned 2.5% a year and SCHP 1.5% a year on average, so TIP came out ahead by 0.9% a year. SCHP was the more volatile of the two (5.1% against 5.1% a year), and the deepest falls from a month-end high were 13.9% for TIP and 17.0% for SCHP.
The correlation of monthly returns was 1.00: they moved almost in lockstep. Over 159 rolling 3-year periods, TIP did better in 100% and SCHP in 0%.
Side by side
| TIP | SCHP | |
|---|---|---|
| Annual return (CAGR) | +2.5% | +1.5% |
| Total return | +49% | +28% |
| Annual volatility | 5.1% | 5.1% |
| Maximum drawdown (month-end) | −13.9% | −17.0% |
| Worst month | −6.7% | −7.0% |
| Best month | +4.8% | +4.8% |
| Positive months | 61% | 60% |
| Best year | 2011: +13.3% | 2011: +11.8% |
| Worst year | 2022: −12.3% | 2022: −14.9% |
| 1-year return | −1.6% | −1.5% |
| 5 years, a year | −0.1% | −1.2% |
| 10 years, a year | +2.1% | +1.0% |
| Trading currency | USD | USD |
First nine rows: the same 194 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: TIP vs SCHP
Returns by calendar year
| Year | TIP | SCHP |
|---|---|---|
| 2025 | +6.8% | +6.8% |
| 2024 | +1.7% | +0.9% |
| 2023 | +3.8% | +2.3% |
| 2022 | −12.3% | −14.9% |
| 2021 | +5.7% | +3.6% |
| 2020 | +10.9% | +10.2% |
| 2019 | +8.3% | +7.4% |
| 2018 | −1.4% | −2.7% |
| 2017 | +2.9% | +2.0% |
| 2016 | +4.7% | +3.9% |
| 2015 | −1.8% | −1.9% |
| 2014 | +3.6% | +3.4% |
| 2013 | −8.5% | −9.2% |
| 2012 | +6.4% | +5.7% |
| 2011 | +13.3% | +11.8% |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
The comparison uses only the months in which both funds have prices, so the figures cover the same period even when one fund is older.
Questions
Which has returned more, TIP or SCHP?
From September 2010 to October 2026, TIP returned +2.5% a year and SCHP +1.5% a year, with dividends reinvested. Over rolling 3-year periods TIP did better in 100% of cases. Past returns do not predict future returns.
Which is riskier, TIP or SCHP?
Over the same months annual volatility was 5.1% for TIP and 5.1% for SCHP; the deepest fall from a month-end high was 13.9% and 17.0%, and the worst single month −6.7% and −7.0%.
How correlated are TIP and SCHP?
The correlation of their monthly returns was 1.00: they moved almost in lockstep. Holding both adds little diversification compared with holding one.
More comparisons
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.