GTIP vs SCHP

GTIPBGoldman Sachs Access Inflation Protected USD Bond ETF

SCHPASchwab US TIPS ETF

In short

GTIP Roughly 30 bonds of pure US inflation-protected Treasuries, run against an index carrying Goldman's name next to FTSE's. A compact take on TIPS rather than a full-market sweep.

SCHP Inflation insurance in the plainest wrapper available: SCHP owns the full maturity range of Treasury inflation-protected bonds and tracks its Bloomberg index for three basis points a year.

Stated mandate

GTIP The Fund seeks to track, before fees and expenses, the FTSE Goldman Sachs Treasury Inflation Protected USD Bond Index, which measures inflation-protected, fixed-rate U.S. Treasury securities denominated in U.S. dollars.

SCHP The fund seeks to track, before fees and expenses, the total return of an index composed of inflation-protected U.S. Treasury securities.

Why people hold it

• GTIP Clean mandate: fixed-rate, dollar-denominated US inflation-protected Treasuries. No corporate credit, no foreign paper.gsam.com
• Holds about 30 bonds and has hugged its benchmark closely, one of the tighter index implementations among the Treasury funds we cover.
• 0.12% a year lands right at the median for Treasury ETFs, with a track record dating to 2018 and a mid-sized asset base behind it.

• SCHP 0.03% a year, a quarter of the typical Treasury-fund fee and level with the cheapest names in the group (VGIT, VCSH).
• One job, done literally: only inflation-linked US Treasuries, whose principal adjusts with the official consumer price index.
• Running since 2010, now a multi-billion-dollar fund that trades actively and hugs the Bloomberg Series-L index closely.
• Passive, no maturity tilt, no manager view: one of the cleaner builds among Treasury ETFs.

Worth knowing

• GTIP Thinly traded next to the category's giants, so spreads and limit orders carry more weight here.
• Cheaper TIPS exposure exists: SCHP charges 0.03% against GTIP's 0.12%.
• Payouts arrive on an irregular schedule rather than a fixed monthly rhythm.

• SCHP Inflation-linked is not rate-proof. This spans the whole maturity spectrum, so prices move with real yields.
• Distributions are irregular. Coupons sit on an inflation-adjusted principal, so the cash arrives lumpy, not as a steady check.
• About 50 bonds, all Uncle Sam. No credit spread, no corporate yield pickup; inflation and duration are the whole story.

Full GTIP profile⁠

Full SCHP profile⁠