BKIPX vs. BSPIX

Last updated Jun 4, 2026

BKIPX (iShares Short-Term TIPS Bond Index Fund Class K) and BSPIX (iShares S&P 500 Index Fund Institutional Class) are both mutual funds - BKIPX is a Inflation-Protected Bonds fund tracking the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index, while BSPIX is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, BKIPX returned 2.87%/yr vs 14.17%/yr for BSPIX. At a 0.06 correlation, their price movements are largely independent. BKIPX charges 0.06%/yr vs 0.10%/yr for BSPIX.

Performance

BKIPX vs. BSPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Short-Term TIPS Bond Index Fund Class K (BKIPX) and iShares S&P 500 Index Fund Institutional Class (BSPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKIPX achieves a 2.00% return, which is significantly lower than BSPIX's 11.65% return.

BKIPX

• 1D: 0.00%
• 1M: 0.13%
• YTD: 2.00%
• 6M: 1.96%
• 1Y: 4.73%
• 3Y*: 5.04%
• 5Y*: 2.87%
• 10Y*: —

BSPIX

• 1D: 0.13%
• 1M: 5.79%
• YTD: 11.65%
• 6M: 11.68%
• 1Y: 28.84%
• 3Y*: 22.63%
• 5Y*: 14.17%
• 10Y*: 15.46%

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

BKIPX vs. BSPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BKIPX iShares Short-Term TIPS Bond Index Fund Class K	2.00%	6.08%	4.77%	3.37%	-4.18%	5.21%	4.86%	4.90%	0.61%	0.90%
BSPIX iShares S&P 500 Index Fund Institutional Class	11.65%	17.75%	24.85%	26.17%	-18.20%	28.55%	18.35%	31.35%	-4.87%	20.18%

Correlation

The correlation between BKIPX and BSPIX is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.06

The correlation between BKIPX and BSPIX shifts across timeframes, from -0.01 (1 year) to 0.10 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BKIPX vs. BSPIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BKIPX

BKIPX Risk / Return Rank: 75
BKIPX Sharpe Ratio Rank: 48
BKIPX Sortino Ratio Rank: 86
BKIPX Omega Ratio Rank: 79
BKIPX Calmar Ratio Rank: 77
BKIPX Martin Ratio Rank: 85

BSPIX

BSPIX Risk / Return Rank: 73
BSPIX Sharpe Ratio Rank: 74
BSPIX Sortino Ratio Rank: 67
BSPIX Omega Ratio Rank: 67
BSPIX Calmar Ratio Rank: 74
BSPIX Martin Ratio Rank: 83

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.

BKIPX vs. BSPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Short-Term TIPS Bond Index Fund Class K (BKIPX) and iShares S&P 500 Index Fund Institutional Class (BSPIX). 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.

	BKIPX	BSPIX	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.51	-0.47
Sortino ratio: Return per unit of downside risk	4.10	3.41	+0.69
Omega ratio: Gain probability vs. loss probability	1.52	1.46	+0.06
Calmar ratio: Return relative to maximum drawdown	3.51	3.34	+0.17
Martin ratio: Return relative to average drawdown	16.09	15.58	+0.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BKIPX vs. BSPIX - Sharpe Ratio Comparison

The current BKIPX Sharpe Ratio is 2.04, which is comparable to the BSPIX Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of BKIPX and BSPIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BKIPX	BSPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	2.51	-0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	0.84	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.86	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	0.81	+0.32

Drawdowns

BKIPX vs. BSPIX - Drawdown Comparison

The maximum BKIPX drawdown since its inception was -6.42%, smaller than the maximum BSPIX drawdown of -33.75%. Use the drawdown chart below to compare losses from any high point for BKIPX and BSPIX.

Drawdown Indicators

	BKIPX	BSPIX	Difference
Max Drawdown Largest peak-to-trough decline	-6.42%	-33.75%	+27.33%
Max Drawdown (1Y) Largest decline over 1 year	-1.32%	-8.91%	+7.59%
Max Drawdown (3Y) Largest decline over 3 years	-1.32%	-18.74%	+17.42%
Max Drawdown (5Y) Largest decline over 5 years	-6.42%	-24.55%	+18.13%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.75%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.07%	-3.93%	+2.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	1.90%	-1.61%

Volatility

BKIPX vs. BSPIX - Volatility Comparison

The current volatility for iShares Short-Term TIPS Bond Index Fund Class K (BKIPX) is 1.22%, while iShares S&P 500 Index Fund Institutional Class (BSPIX) has a volatility of 2.83%. This indicates that BKIPX experiences smaller price fluctuations and is considered to be less risky than BSPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKIPX	BSPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	2.83%	-1.61%
Volatility (6M) Calculated over the trailing 6-month period	1.73%	8.97%	-7.24%
Volatility (1Y) Calculated over the trailing 1-year period	2.28%	11.85%	-9.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.12%	16.88%	-13.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.64%	18.03%	-15.39%

BKIPX vs. BSPIX - Expense Ratio Comparison

BKIPX has a 0.06% expense ratio, which is lower than BSPIX's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BKIPX vs. BSPIX - Dividend Comparison

BKIPX's dividend yield for the trailing twelve months is around 4.63%, more than BSPIX's 1.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKIPX iShares Short-Term TIPS Bond Index Fund Class K	4.63%	4.68%	4.33%	2.77%	4.80%	4.41%	1.17%	2.54%	2.56%	1.90%	0.00%	0.00%
BSPIX iShares S&P 500 Index Fund Institutional Class	1.50%	1.66%	1.35%	1.44%	1.94%	1.76%	1.60%	1.92%	1.94%	1.57%	2.30%	2.42%

Frequently Asked Questions

Can I hold both BKIPX and BSPIX in my portfolio?

BKIPX and BSPIX have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKIPX or BSPIX?

BSPIX has higher volatility (2.83%) compared to BKIPX (1.22%). In terms of maximum drawdown, BKIPX dropped -6.42% vs BSPIX's -33.75%.

Which has better risk-adjusted returns?

BSPIX currently has the higher Sharpe Ratio (2.51 vs 2.04), 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.