Data as of Oct 28, 2026.
LQD vs SCHP: Differences, Returns & Fees
LQD's duration was 7.7 years on Aug 31, 2026 and SCHP's 6.3 on Jun 30, 2026; SCHP charges 0.03% to LQD's 0.14%.
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Net assets: $30.6bn on Oct 27, 2026 for iShares iBoxx $ Investment Grade Corporate Bond ETF, and $16.5bn on Jun 30, 2026 for Schwab U.S. TIPS ETF.
Pair scorecard
SCHP costs 0.11 points a year less; their one-year returns differ by 2.6 points.
| Measure | LQD | SCHP |
|---|---|---|
| Return | ||
| Total return, 1 year | −3.4% | −0.8% |
| Drawdown | ||
| Below its high | 6.3%, high on Sep 22, 2021 | |
| Benchmark | ||
| What it tracks | Markit iBoxx USD Liquid Investment Grade Index | US TIPS |
| Cost and size | ||
| Expense ratio | 0.14% | 0.03% |
| Net assets, LQD as of Oct 27, 2026 and SCHP as of Jun 30, 2026 | $30.6bn | $16.5bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Jun 30, 2026 and Aug 31, 2026. Method
Risk and return
Aug 13, 2010 to Oct 23, 2026 · 845 weekly returnsEach against its own benchmark: LQD against IUSB, Jun 20, 2014 to Oct 23, 2026; SCHP against AGG, Aug 13, 2010 to Oct 23, 2026.
LQD returned more: +69.4% to +52.2%. SCHP swung less: 5.5% to 8.7%. SCHP fell less at its worst: −14.0% to −24.7%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | LQD | SCHP | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +69.4% | +52.2% | LQD | Price change plus distributions, reinvested. |
| Annualized | +3.3% | +2.6% | LQD | Total return as a yearly rate. |
| Price return | −6.1% | +1.8% | SCHP | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 8.7% | 5.5% | SCHP | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 6.1% | 4.0% | SCHP | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −24.7% | −14.0% | SCHP | Deepest fall from a high to the low after it. |
| Upside capture | 157.4% | 100.6% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 143.3% | 95.5% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.70 | 0.93 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.84 | 0.61 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.23 | 0.21 | LQD | Return above Treasury bills per unit of volatility. |
| Sortino | 0.33 | 0.29 | LQD | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.005 | 0.012 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.13 | 0.19 | SCHP | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | IUSB | AGG | The ETF each fund is measured against. | |
| Alpha | +0.7% a year | +0.6% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.64 | 0.73 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −1.4% to +2.8% | −1.0% to +2.3% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | 0.14 | 0.17 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 5.2% | 3.4% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 845 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, LQD and SCHP hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Aug 31, 2026.
half
0% in common
Only in one fund ↓
Side by side
LQD and SCHP on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
LQD and SCHP do different jobs. What does each one do in a portfolio?
- What each follows. LQD follows Markit iBoxx USD Liquid Investment Grade Index and SCHP follows US TIPS.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Aug 31, 2026 and Jun 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 LQD returned −3.4% and SCHP −0.8% with distributions reinvested, a gap of 2.6 points.
Data as of Oct 28, 2026.
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LQD
LQD tracks an index of US investment grade bonds. Over the year to Oct 28, 2026 it returned −3.4% with distributions reinvested, against −1.2% for its benchmark, the Bloomberg U.S. Universal Index. The prospectus expense ratio is 0.14% a year. It sat 6.3% below its high of Sep 22, 2021 on Oct 28, 2026.
SCHP
SCHP tracks an index of US TIPS. Over the year to Oct 28, 2026 it returned −0.8% with distributions reinvested, against −1.4% for its benchmark, the Bloomberg US Aggregate Bond Index. The prospectus expense ratio is 0.03% a year.
Questions people ask
- Which returned more over the last year, LQD or SCHP?
- In the year to Oct 28, 2026, with distributions reinvested, LQD returned −3.4% and SCHP −0.8%.
- Which is cheaper, LQD or SCHP?
- SCHP is cheaper, by 0.11 percentage points a year. That is about $11 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, LQD against SCHP, data as of Oct 28, 2026. https://etfiq.com/compare/any/lqd-vs-schp
ETFIQ. (Oct 28, 2026). LQD against SCHP. Retrieved from https://etfiq.com/compare/any/lqd-vs-schp
[LQD against SCHP (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/lqd-vs-schp)
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