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BIIPX vs. DFAAX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BIIPX vs. DFAAX

Last updated Jun 23, 2026

BIIPX (iShares Short-Term TIPS Bond Index Fund) and DFAAX (DFA Global Core Plus Real Return Portfolio) are both Inflation-Protected Bonds funds. Over the past 5 years, BIIPX returned 2.76%/yr vs 5.27%/yr for DFAAX. A 0.65 correlation means they provide meaningful diversification when combined. BIIPX charges 0.08%/yr vs 0.29%/yr for DFAAX.

Performance

BIIPX vs. DFAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Short-Term TIPS Bond Index Fund (BIIPX) and DFA Global Core Plus Real Return Portfolio (DFAAX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BIIPX achieves a 0.82% return, which is significantly lower than DFAAX's 2.75% return.

BIIPX

1D
0.00%
1M
0.21%
YTD
0.82%
6M
1.19%
1Y
3.39%
3Y*
4.68%
5Y*
2.76%
10Y*
—

DFAAX

1D
0.10%
1M
0.61%
YTD
2.75%
6M
2.96%
1Y
4.21%
3Y*
6.21%
5Y*
5.27%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

BIIPX vs. DFAAX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
BIIPX
iShares Short-Term TIPS Bond Index Fund		0.82%6.05%4.75%3.25%-4.12%2.93%
DFAAX
DFA Global Core Plus Real Return Portfolio		2.75%5.18%4.41%9.49%-13.40%20.47%

Correlation

The correlation between BIIPX and DFAAX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.39

Correlation (3Y)
Calculated over the trailing 3-year period

0.61

Correlation (5Y)
Calculated over the trailing 5-year period

0.65

Correlation (All Time)
Calculated using the full available price history since May 5, 2021

0.65

Over the past year, the correlation between BIIPX and DFAAX has dropped to 0.39 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

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iShares Short-Term TIPS Bond Index Fund

DFA Global Core Plus Real Return Portfolio

Often compared with BIIPX:
BIIPX vs. STIPBIIPX vs. VTAPXBIIPX vs. ICSHBIIPX vs. FFNYXBIIPX vs. EARRXBIIPX vs. IPBAXBIIPX vs. VCTPX
Often compared with DFAAX:
DFAAX vs. JPGL.DEDFAAX vs. SPYDFAAX vs. SEIAXDFAAX vs. VCTPXDFAAX vs. EARRXDFAAX vs. RRPAXDFAAX vs. IPBAX

Return for Risk

BIIPX vs. DFAAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BIIPX
BIIPX Risk / Return Rank: 5555
Overall Rank
BIIPX Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
BIIPX Sortino Ratio Rank: 5555
Sortino Ratio Rank
BIIPX Omega Ratio Rank: 5555
Omega Ratio Rank
BIIPX Calmar Ratio Rank: 6565
Calmar Ratio Rank
BIIPX Martin Ratio Rank: 6464
Martin Ratio Rank
DFAAX
DFAAX Risk / Return Rank: 2929
Overall Rank
DFAAX Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
DFAAX Sortino Ratio Rank: 3030
Sortino Ratio Rank
DFAAX Omega Ratio Rank: 3232
Omega Ratio Rank
DFAAX Calmar Ratio Rank: 2525
Calmar Ratio Rank
DFAAX Martin Ratio Rank: 2828
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.

BIIPX vs. DFAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Short-Term TIPS Bond Index Fund (BIIPX) and DFA Global Core Plus Real Return Portfolio (DFAAX). 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.

BIIPXDFAAXDifference
Sharpe ratioReturn per unit of total volatility
1.56
1.44

+0.12

Sortino ratioReturn per unit of downside risk
2.86
2.10

+0.76

Omega ratioGain probability vs. loss probability

1.38

1.28

+0.09

Calmar ratioReturn relative to maximum drawdown

2.96

1.76

+1.21

Martin ratioReturn relative to average drawdown

11.68

6.16

+5.52

BIIPX vs. DFAAX - Sharpe Ratio Comparison

The current BIIPX Sharpe Ratio is 1.56, which is comparable to the DFAAX Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of BIIPX and DFAAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

BIIPX vs. DFAAX - Drawdown Comparison

The maximum BIIPX drawdown since its inception was -6.46%, smaller than the maximum DFAAX drawdown of -16.64%. Use the drawdown chart below to compare losses from any high point for BIIPX and DFAAX.

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Drawdown Indicators

BIIPXDFAAXDifference

Max Drawdown

Largest peak-to-trough decline

-6.46%

-16.64%

+10.18%

Max Drawdown (1Y)

Largest decline over 1 year

-1.22%

-2.55%

+1.33%

Max Drawdown (3Y)

Largest decline over 3 years

-1.22%

-3.44%

+2.22%

Max Drawdown (5Y)

Largest decline over 5 years

-6.46%

-16.64%

+10.18%

Current Drawdown

Current decline from peak

-1.13%

-0.30%

-0.83%

Average Drawdown

Average peak-to-trough decline

-1.08%

-4.51%

+3.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.31%

0.72%

-0.41%

Volatility

BIIPX vs. DFAAX - Volatility Comparison

iShares Short-Term TIPS Bond Index Fund (BIIPX) has a higher volatility of 1.30% compared to DFA Global Core Plus Real Return Portfolio (DFAAX) at 0.97%. This indicates that BIIPX's price experiences larger fluctuations and is considered to be riskier than DFAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BIIPXDFAAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.30%

0.97%

+0.33%

Volatility (6M)

Calculated over the trailing 6-month period

1.75%

2.28%

-0.53%

Volatility (1Y)

Calculated over the trailing 1-year period

2.32%

3.10%

-0.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.11%

8.37%

-5.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.64%

8.29%

-5.65%

BIIPX vs. DFAAX - Expense Ratio Comparison

BIIPX has a 0.08% expense ratio, which is lower than DFAAX's 0.29% expense ratio.

Dividends

BIIPX vs. DFAAX - Dividend Comparison

BIIPX's dividend yield for the trailing twelve months is around 4.64%, more than DFAAX's 3.38% yield.

PositionTTM202520242023202220212020201920182017
BIIPX
iShares Short-Term TIPS Bond Index Fund		4.64%4.64%4.30%2.65%4.56%4.39%1.58%2.27%2.74%1.89%
DFAAX
DFA Global Core Plus Real Return Portfolio		3.38%2.90%4.09%3.96%2.06%13.05%0.00%0.00%0.00%0.00%

Frequently Asked Questions

BIIPX and DFAAX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BIIPX has higher volatility (1.30%) compared to DFAAX (0.97%). In terms of maximum drawdown, BIIPX dropped -6.46% vs DFAAX's -16.64%.

BIIPX currently has the higher Sharpe Ratio (1.56 vs 1.44), 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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