^GSPC vs. TIP
^GSPC (S&P 500 Index) is an index, while TIP (iShares TIPS Bond ETF) is Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index. Over the past 10 years, ^GSPC returned 13.53%/yr vs 2.50%/yr for TIP. At a correlation of -0.10, they often move in opposite directions.
Performance
^GSPC vs. TIP - Performance Comparison
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Returns By Period
In the year-to-date period, ^GSPC achieves a 8.02% return, which is significantly higher than TIP's 1.39% return. Over the past 10 years, ^GSPC has outperformed TIP with an annualized return of 13.53%, while TIP has yielded a comparatively lower 2.50% annualized return.
^GSPC
- 1D
- 1.75%
- 1M
- -0.09%
- YTD
- 8.02%
- 6M
- 7.15%
- 1Y
- 22.78%
- 3Y*
- 19.45%
- 5Y*
- 11.73%
- 10Y*
- 13.53%
TIP
- 1D
- 0.36%
- 1M
- -0.22%
- YTD
- 1.39%
- 6M
- 1.25%
- 1Y
- 4.90%
- 3Y*
- 3.82%
- 5Y*
- 0.91%
- 10Y*
- 2.50%
^GSPC vs. TIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^GSPC S&P 500 Index | 8.02% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
TIP iShares TIPS Bond ETF | 1.39% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 10.84% | 8.35% | -1.42% | 2.92% |
Correlation
The correlation between ^GSPC and TIP is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Dec 5, 2003 | -0.10 |
The correlation between ^GSPC and TIP shifts across timeframes, from -0.10 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
^GSPC vs. TIP — Risk / Return Rank
^GSPC
TIP
^GSPC vs. TIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for S&P 500 Index (^GSPC) and iShares TIPS Bond ETF (TIP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^GSPC | TIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.26 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 2.49 | +0.03 |
| Martin ratioReturn relative to average drawdown | 11.31 | 7.44 | +3.87 |
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Drawdowns
^GSPC vs. TIP - Drawdown Comparison
The maximum ^GSPC drawdown since its inception was -56.78%, which is greater than TIP's maximum drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for ^GSPC and TIP.
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Drawdown Indicators
| ^GSPC | TIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.78% | -14.57% | -42.21% |
Max Drawdown (1Y)Largest decline over 1 year | -9.10% | -1.98% | -7.12% |
Max Drawdown (3Y)Largest decline over 3 years | -18.90% | -4.54% | -14.36% |
Max Drawdown (5Y)Largest decline over 5 years | -25.43% | -14.51% | -10.92% |
Max Drawdown (10Y)Largest decline over 10 years | -33.92% | -14.51% | -19.41% |
Current DrawdownCurrent decline from peak | -2.83% | -0.47% | -2.36% |
Average DrawdownAverage peak-to-trough decline | -10.72% | -3.43% | -7.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 0.66% | +1.36% |
Volatility
^GSPC vs. TIP - Volatility Comparison
S&P 500 Index (^GSPC) has a higher volatility of 4.44% compared to iShares TIPS Bond ETF (TIP) at 1.03%. This indicates that ^GSPC's price experiences larger fluctuations and is considered to be riskier than TIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^GSPC | TIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.44% | 1.03% | +3.41% |
Volatility (6M)Calculated over the trailing 6-month period | 9.71% | 2.35% | +7.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.38% | 3.39% | +8.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.97% | 6.21% | +10.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.09% | 5.74% | +12.35% |
Frequently Asked Questions
^GSPC and TIP have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^GSPC has higher volatility (4.44%) compared to TIP (1.03%). In terms of maximum drawdown, ^GSPC dropped -56.78% vs TIP's -14.57%.
^GSPC currently has the higher Sharpe Ratio (1.85 vs 1.45), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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