Data as of Oct 28, 2026.
SCHP vs TLT: Differences, Returns & Fees
SCHP's duration was 6.3 years on Jun 30, 2026 and TLT's 15.1 on Aug 31, 2026; SCHP charges 0.03% to TLT's 0.15%.
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Net assets: $16.5bn on Jun 30, 2026 for Schwab U.S. TIPS ETF, and $47.4bn on Oct 27, 2026 for iShares 20+ Year Treasury Bond ETF.
Pair scorecard
SCHP costs 0.12 points a year less; their one-year returns differ by 7.1 points.
| Measure | SCHP | TLT |
|---|---|---|
| Return | ||
| Total return, 1 year | −0.8% | −7.9% |
| Drawdown | ||
| Below its high | 42.6%, high on Aug 4, 2020 | |
| Benchmark | ||
| What it tracks | US TIPS | ICE U.S. Treasury 20+ Year Bond Index |
| Cost and size | ||
| Expense ratio | 0.03% | 0.15% |
| Net assets, SCHP as of Jun 30, 2026 and TLT as of Oct 27, 2026 | $16.5bn | $47.4bn |
| 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: SCHP against AGG, Aug 13, 2010 to Oct 23, 2026; TLT against BBLB, Apr 28, 2023 to Oct 23, 2026.
SCHP returned more: +52.2% to +27.4%. SCHP swung less: 5.5% to 14.0%. SCHP fell less at its worst: −14.0% to −47.8%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | SCHP | TLT | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +52.2% | +27.4% | SCHP | Price change plus distributions, reinvested. |
| Annualized | +2.6% | +1.5% | SCHP | Total return as a yearly rate. |
| Price return | +1.8% | −20.5% | SCHP | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 5.5% | 14.0% | SCHP | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 4.0% | 10.0% | SCHP | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −14.0% | −47.8% | SCHP | Deepest fall from a high to the low after it. |
| Upside capture | 100.6% | 102.4% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 95.5% | 101.2% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.93 | 1.01 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.61 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.21 | 0.06 | SCHP | Return above Treasury bills per unit of volatility. |
| Sortino | 0.29 | 0.09 | SCHP | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.012 | −0.072 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.19 | 0.03 | SCHP | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | AGG | BBLB | The ETF each fund is measured against. | |
| Alpha | +0.6% a year | 0.0% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.73 | −0.01 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −1.0% to +2.3% | −0.8% to +0.8% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | 0.17 | −0.10 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 3.4% | 0.7% | 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, SCHP and TLT 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
SCHP and TLT on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SCHP and TLT do different jobs. What does each one do in a portfolio?
- What each follows. SCHP follows US TIPS and TLT follows ICE U.S. Treasury 20+ Year Bond Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Jun 30, 2026 and Aug 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 SCHP returned −0.8% and TLT −7.9% with distributions reinvested, a gap of 7.1 points.
Data as of Oct 28, 2026.
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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.
TLT
TLT tracks an index of 20+ year Treasuries. Over the year to Oct 28, 2026 it returned −7.9% with distributions reinvested, against −7.8% for its benchmark, the ICE U.S. Treasury 20+ Year Bond Index. The prospectus expense ratio is 0.15% a year. It sat 42.6% below its high of Aug 4, 2020 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, SCHP or TLT?
- In the year to Oct 28, 2026, with distributions reinvested, SCHP returned −0.8% and TLT −7.9%.
- Which is cheaper, SCHP or TLT?
- SCHP is cheaper, by 0.12 percentage points a year. That is about $12 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, SCHP against TLT, data as of Oct 28, 2026. https://etfiq.com/compare/any/schp-vs-tlt
ETFIQ. (Oct 28, 2026). SCHP against TLT. Retrieved from https://etfiq.com/compare/any/schp-vs-tlt
[SCHP against TLT (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/schp-vs-tlt)
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