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My water heater has both the heat pump and 2 regular electric elements. The water heater has 4 modes that blend the use of those heat sources. Anything from only using the heat pump to only using the resistant elements. Between those extremes are 2 modes that blend the use with the trade-off that the more eco mode has slower recovery time.
It would be possible to use more electricity with a schedule vs steady 125F hold depending on how the schedule was designed and the usage mode for the water heater. If I set the water heater for fast recovery and then let the water temp drop to something like 110 degrees only to be heated each morning with the electric elements I'm sure that would use a lot more electricity than holding the water at a steady 125F all day using the heat pump. (Which is roughly 3x more efficient than the element heaters.
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