BIIPX vs. DFAAX

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Short-Term TIPS Bond Index Fund (BIIPX) and DFA Global Core Plus Real Return Portfolio (DFAAX).

BIIPX is managed by BlackRock. It was launched on Feb 15, 2016. DFAAX is managed by Dimensional. It was launched on May 5, 2021.

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.

BIIPX vs. DFAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BIIPX iShares Short-Term TIPS Bond Index Fund	0.73%	6.05%	4.75%	3.25%	-4.12%	2.73%
DFAAX DFA Global Core Plus Real Return Portfolio	-0.28%	5.18%	4.41%	9.49%	-13.40%	20.47%

Returns By Period

In the year-to-date period, BIIPX achieves a 0.73% return, which is significantly higher than DFAAX's -0.28% return.

BIIPX

• 1D: 0.20%
• 1M: -0.20%
• YTD: 0.73%
• 6M: 1.05%
• 1Y: 3.65%
• 3Y*: 4.19%
• 5Y*: 2.88%
• 10Y*: —

DFAAX

• 1D: 0.45%
• 1M: -2.10%
• YTD: -0.28%
• 6M: -0.90%
• 1Y: 1.97%
• 3Y*: 4.78%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BIIPX vs. DFAAX - Expense Ratio Comparison

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

DFAAX

DFA Global Core Plus Real Return Portfolio

BIIPX

iShares Short-Term TIPS Bond Index Fund

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: 93
BIIPX Sharpe Ratio Rank: 89
BIIPX Sortino Ratio Rank: 95
BIIPX Omega Ratio Rank: 92
BIIPX Calmar Ratio Rank: 97
BIIPX Martin Ratio Rank: 93

DFAAX

DFAAX Risk / Return Rank: 28
DFAAX Sharpe Ratio Rank: 26
DFAAX Sortino Ratio Rank: 22
DFAAX Omega Ratio Rank: 22
DFAAX Calmar Ratio Rank: 36
DFAAX Martin Ratio Rank: 33

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.

	BIIPX	DFAAX	Difference
Sharpe ratio Return per unit of total volatility	1.81	0.66	+1.15
Sortino ratio Return per unit of downside risk	3.21	0.92	+2.29
Omega ratio Gain probability vs. loss probability	1.43	1.13	+0.30
Calmar ratio Return relative to maximum drawdown	4.25	0.98	+3.27
Martin ratio Return relative to average drawdown	11.88	3.60	+8.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BIIPX vs. DFAAX - Sharpe Ratio Comparison

The current BIIPX Sharpe Ratio is 1.81, which is higher than the DFAAX Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of BIIPX and DFAAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BIIPX	DFAAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	0.66	+1.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	0.56	+0.54

Correlation

The correlation between BIIPX and DFAAX is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BIIPX vs. DFAAX - Dividend Comparison

BIIPX's dividend yield for the trailing twelve months is around 3.57%, more than DFAAX's 3.48% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
DFAAX DFA Global Core Plus Real Return Portfolio	3.48%	2.90%	4.09%	3.96%	2.06%	13.05%	0.00%	0.00%	0.00%	0.00%

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.

Drawdown Indicators

	BIIPX	DFAAX	Difference
Max Drawdown Largest peak-to-trough decline	-6.46%	-16.64%	+10.18%
Max Drawdown (1Y) Largest decline over 1 year	-1.12%	-2.99%	+1.87%
Max Drawdown (5Y) Largest decline over 5 years	-6.46%	—	—
Current Drawdown Current decline from peak	-0.51%	-2.10%	+1.59%
Average Drawdown Average peak-to-trough decline	-1.09%	-4.70%	+3.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.81%	-0.41%

Volatility

BIIPX vs. DFAAX - Volatility Comparison

The current volatility for iShares Short-Term TIPS Bond Index Fund (BIIPX) is 0.57%, while DFA Global Core Plus Real Return Portfolio (DFAAX) has a volatility of 1.37%. This indicates that BIIPX experiences smaller price fluctuations and is considered to be less risky than DFAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIIPX	DFAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.57%	1.37%	-0.80%
Volatility (6M) Calculated over the trailing 6-month period	1.28%	1.98%	-0.70%
Volatility (1Y) Calculated over the trailing 1-year period	2.53%	3.70%	-1.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.07%	8.45%	-5.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.63%	8.45%	-5.82%