Schwab US TIPS ETF
SCHP
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- Schwab U.S. TIPS ETF (SCHP) is an exchange-traded fund that seeks to track the total return of the Bloomberg U.S. Treasury Inflation-Linked Bond Index (Series-L), which comprises inflation-protected U.S. Treasury securities, known as Treasury Inflation-Protected Securities (TIPS), with at least one year remaining to maturity; the fund invests across the overall maturity spectrum of the U.S. TIPS market, including notes in categories such as 1-3 years (approximately 26%), 3-5 years (26%), 5-7 years (13%), 7-10 years (21%), 10-20 years (6%), and over 20 years (8%); holdings consist primarily of U.S. government securities rated AA, with top positions in various Treasury (CPI) Notes representing 3-4% each of assets under management. Launched on August 5, 2010, and managed passively by Charles Schwab Investment Management, Inc., a division of The Charles Schwab Corporation headquartered in Westlake, Texas, SCHP serves individual and institutional investors seeking low-cost (0.03% expense ratio), tax-efficient exposure to inflation-hedged fixed income within diversified portfolios; it trades on NYSE Arca and distributes monthly income. Recent major changes include a 2-for-1 forward share split effective October 10, 2024, which doubled outstanding shares to approximately 552 million while reducing net asset value per share, preserving total shareholder value; the fund also benefited from Schwab Asset Management's fee reductions on fixed income ETFs, including SCHP, positioning its entire lineup at three basis points.