ALMIX vs. BIIPX
ALMIX (Invesco Short Duration Inflation Protected Fund) and BIIPX (iShares Short-Term TIPS Bond Index Fund) are both Inflation-Protected Bonds funds. Over the past 5 years, ALMIX returned 2.70%/yr vs 2.66%/yr for BIIPX. Their correlation of 0.80 suggests significant overlap in exposure. ALMIX charges 0.30%/yr vs 0.08%/yr for BIIPX.
Performance
ALMIX vs. BIIPX - Performance Comparison
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Returns By Period
In the year-to-date period, ALMIX achieves a 0.99% return, which is significantly higher than BIIPX's 0.61% return.
ALMIX
- 1D
- -0.30%
- 1M
- -0.40%
- YTD
- 0.99%
- 6M
- 1.09%
- 1Y
- 3.10%
- 3Y*
- 4.70%
- 5Y*
- 2.70%
- 10Y*
- 2.69%
BIIPX
- 1D
- -0.21%
- 1M
- 0.01%
- YTD
- 0.61%
- 6M
- 1.09%
- 1Y
- 3.18%
- 3Y*
- 4.64%
- 5Y*
- 2.66%
- 10Y*
- —
ALMIX vs. BIIPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALMIX Invesco Short Duration Inflation Protected Fund | 0.99% | 6.13% | 4.29% | 4.17% | -4.35% | 5.20% | 5.35% | 4.84% | 0.12% | 0.45% |
BIIPX iShares Short-Term TIPS Bond Index Fund | 0.61% | 6.05% | 4.75% | 3.25% | -4.12% | 5.19% | 4.89% | 4.83% | 0.58% | 0.88% |
Correlation
The correlation between ALMIX and BIIPX is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.80 |
The correlation between ALMIX and BIIPX shifts across timeframes, from 0.71 (1 year) to 0.84 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ALMIX vs. BIIPX — Risk / Return Rank
ALMIX
BIIPX
ALMIX vs. BIIPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Short Duration Inflation Protected Fund (ALMIX) and iShares Short-Term TIPS Bond Index Fund (BIIPX). 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.
| ALMIX | BIIPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.32 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 2.39 | +0.79 |
| Martin ratioReturn relative to average drawdown | 12.71 | 9.93 | +2.78 |
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Drawdowns
ALMIX vs. BIIPX - Drawdown Comparison
The maximum ALMIX drawdown since its inception was -6.61%, roughly equal to the maximum BIIPX drawdown of -6.46%. Use the drawdown chart below to compare losses from any high point for ALMIX and BIIPX.
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Drawdown Indicators
| ALMIX | BIIPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.61% | -6.46% | -0.15% |
Max Drawdown (1Y)Largest decline over 1 year | -0.99% | -1.34% | +0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -1.18% | -1.34% | +0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -6.61% | -6.46% | -0.15% |
Max Drawdown (10Y)Largest decline over 10 years | -6.61% | — | — |
Current DrawdownCurrent decline from peak | -0.99% | -1.34% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -0.45% | -1.08% | +0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.25% | 0.32% | -0.07% |
Volatility
ALMIX vs. BIIPX - Volatility Comparison
The current volatility for Invesco Short Duration Inflation Protected Fund (ALMIX) is 0.80%, while iShares Short-Term TIPS Bond Index Fund (BIIPX) has a volatility of 1.32%. This indicates that ALMIX experiences smaller price fluctuations and is considered to be less risky than BIIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALMIX | BIIPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 1.32% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 1.43% | 1.76% | -0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.91% | 2.33% | -0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.19% | 3.11% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.71% | 2.64% | +0.07% |
ALMIX vs. BIIPX - Expense Ratio Comparison
ALMIX has a 0.30% expense ratio, which is higher than BIIPX's 0.08% expense ratio.
Dividends
ALMIX vs. BIIPX - Dividend Comparison
ALMIX's dividend yield for the trailing twelve months is around 4.38%, less than BIIPX's 4.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALMIX Invesco Short Duration Inflation Protected Fund | 4.38% | 4.38% | 3.00% | 3.24% | 7.59% | 4.38% | 1.19% | 2.17% | 2.80% | 2.19% | 1.53% | 0.09% |
BIIPX iShares Short-Term TIPS Bond Index Fund | 4.65% | 4.64% | 4.30% | 2.65% | 4.56% | 4.39% | 1.58% | 2.27% | 2.74% | 1.89% | 0.00% | 0.00% |
Frequently Asked Questions
ALMIX and BIIPX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIIPX has higher volatility (1.32%) compared to ALMIX (0.80%). In terms of maximum drawdown, ALMIX dropped -6.61% vs BIIPX's -6.46%.
ALMIX currently has the higher Sharpe Ratio (1.64 vs 1.37), 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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