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ALMIX vs. BIIPX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ALMIX vs. BIIPX

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco Short Duration Inflation Protected Fund (ALMIX) and iShares Short-Term TIPS Bond Index Fund (BIIPX).

ALMIX is managed by Invesco. It was launched on Jul 12, 1987. BIIPX is managed by BlackRock. It was launched on Feb 15, 2016.

Performance

ALMIX vs. BIIPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Short Duration Inflation Protected Fund (ALMIX) and iShares Short-Term TIPS Bond Index Fund (BIIPX). The values are adjusted to include any dividend payments, if applicable.

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ALMIX vs. BIIPX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ALMIX
Invesco Short Duration Inflation Protected Fund		0.89%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		0.73%6.05%4.75%3.25%-4.12%5.19%4.89%4.83%0.58%0.88%

Returns By Period

In the year-to-date period, ALMIX achieves a 0.89% return, which is significantly higher than BIIPX's 0.73% return.

ALMIX

1D
0.30%
1M
-0.11%
YTD
0.89%
6M
1.01%
1Y
3.61%
3Y*
4.40%
5Y*
2.98%
10Y*
2.73%

BIIPX

1D
0.20%
1M
-0.20%
YTD
0.73%
6M
1.05%
1Y
3.65%
3Y*
4.19%
5Y*
2.88%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Invesco Short Duration Inflation Protected Fund

iShares Short-Term TIPS Bond Index Fund

Often compared with ALMIX:
ALMIX vs. TQQQALMIX vs. FFNYXALMIX vs. VADAXALMIX vs. ACSTXALMIX vs. IVNQXALMIX vs. TRBFXALMIX vs. VTAPX
Often compared with BIIPX:
BIIPX vs. STIPBIIPX vs. VTAPXBIIPX vs. ICSHBIIPX vs. DFAAXBIIPX vs. EARRXBIIPX vs. FFNYXBIIPX vs. IPBAX

ALMIX vs. BIIPX - Expense Ratio Comparison

ALMIX has a 0.30% expense ratio, which is higher than BIIPX's 0.08% expense ratio.

ALMIX
Invesco Short Duration Inflation Protected Fund
BIIPX
iShares Short-Term TIPS Bond Index Fund

Return for Risk

ALMIX vs. BIIPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ALMIX
ALMIX Risk / Return Rank: 9191
Overall Rank
ALMIX Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
ALMIX Sortino Ratio Rank: 9191
Sortino Ratio Rank
ALMIX Omega Ratio Rank: 8888
Omega Ratio Rank
ALMIX Calmar Ratio Rank: 9696
Calmar Ratio Rank
ALMIX Martin Ratio Rank: 9494
Martin Ratio Rank
BIIPX
BIIPX Risk / Return Rank: 9393
Overall Rank
BIIPX Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
BIIPX Sortino Ratio Rank: 9595
Sortino Ratio Rank
BIIPX Omega Ratio Rank: 9292
Omega Ratio Rank
BIIPX Calmar Ratio Rank: 9797
Calmar Ratio Rank
BIIPX Martin Ratio Rank: 9393
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

ALMIXBIIPXDifference

Sharpe ratio

Return per unit of total volatility

1.75

1.81

-0.06

Sortino ratio

Return per unit of downside risk

2.68

3.21

-0.54

Omega ratio

Gain probability vs. loss probability

1.39

1.43

-0.05

Calmar ratio

Return relative to maximum drawdown

3.65

4.25

-0.60

Martin ratio

Return relative to average drawdown

12.15

11.88

+0.27

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ALMIX vs. BIIPX - Sharpe Ratio Comparison

The current ALMIX Sharpe Ratio is 1.75, which is comparable to the BIIPX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of ALMIX and BIIPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

ALMIXBIIPXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.75

1.81

-0.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.94

0.94

0.00

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.01

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.66

1.10

+0.56

Correlation

The correlation between ALMIX and BIIPX is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ALMIX vs. BIIPX - Dividend Comparison

ALMIX's dividend yield for the trailing twelve months is around 4.39%, more than BIIPX's 3.57% yield.

TTM20252024202320222021202020192018201720162015
ALMIX
Invesco Short Duration Inflation Protected Fund		4.39%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		3.57%4.64%4.30%2.65%4.56%4.39%1.58%2.27%2.74%1.89%0.00%0.00%

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

ALMIXBIIPXDifference

Max Drawdown

Largest peak-to-trough decline

-6.61%

-6.46%

-0.15%

Max Drawdown (1Y)

Largest decline over 1 year

-1.18%

-1.12%

-0.06%

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 Drawdown

Current decline from peak

-0.31%

-0.51%

+0.20%

Average Drawdown

Average peak-to-trough decline

-0.45%

-1.09%

+0.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.36%

0.40%

-0.04%

Volatility

ALMIX vs. BIIPX - Volatility Comparison

Invesco Short Duration Inflation Protected Fund (ALMIX) has a higher volatility of 0.68% compared to iShares Short-Term TIPS Bond Index Fund (BIIPX) at 0.57%. This indicates that ALMIX's price experiences larger fluctuations and is considered to be riskier 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

ALMIXBIIPXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.68%

0.57%

+0.11%

Volatility (6M)

Calculated over the trailing 6-month period

1.19%

1.28%

-0.09%

Volatility (1Y)

Calculated over the trailing 1-year period

2.20%

2.53%

-0.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.19%

3.07%

+0.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.71%

2.63%

+0.08%