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BKIPX vs. DFAAX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BKIPX vs. DFAAX

Last updated Jun 4, 2026

BKIPX (iShares Short-Term TIPS Bond Index Fund Class K) and DFAAX (DFA Global Core Plus Real Return Portfolio) are both Inflation-Protected Bonds funds. Over the past 5 years, BKIPX returned 2.87%/yr vs 5.25%/yr for DFAAX. A 0.66 correlation means they provide meaningful diversification when combined. BKIPX charges 0.06%/yr vs 0.29%/yr for DFAAX.

Performance

BKIPX vs. DFAAX - 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 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, BKIPX achieves a 2.00% return, which is significantly lower than DFAAX's 3.06% return.

BKIPX

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

DFAAX

1D
0.10%
1M
0.82%
YTD
3.06%
6M
2.63%
1Y
5.28%
3Y*
6.24%
5Y*
5.25%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

BKIPX vs. DFAAX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
BKIPX
iShares Short-Term TIPS Bond Index Fund Class K		2.00%6.08%4.77%3.37%-4.18%2.75%
DFAAX
DFA Global Core Plus Real Return Portfolio		3.06%5.18%4.41%9.49%-13.40%20.47%

Correlation

The correlation between BKIPX and DFAAX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.44

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

0.61

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

0.66

Correlation (All Time)
Calculated using the full available price history since May 6, 2021

0.66

Over the past year, the correlation between BKIPX and DFAAX has dropped to 0.44 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

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iShares Short-Term TIPS Bond Index Fund Class K

DFA Global Core Plus Real Return Portfolio

Often compared with BKIPX:
BKIPX vs. SEIAXBKIPX vs. BRGKXBKIPX vs. IPBAXBKIPX vs. FSPWXBKIPX vs. RRPAXBKIPX vs. VCTPXBKIPX vs. BDBKX
Often compared with DFAAX:
DFAAX vs. JPGL.DEDFAAX vs. SPYDFAAX vs. VCTPXDFAAX vs. SEIAXDFAAX vs. EARRXDFAAX vs. RRPAXDFAAX vs. IPBAX

Return for Risk

BKIPX vs. DFAAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BKIPX
BKIPX Risk / Return Rank: 7575
Overall Rank
BKIPX Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
BKIPX Sortino Ratio Rank: 8686
Sortino Ratio Rank
BKIPX Omega Ratio Rank: 7979
Omega Ratio Rank
BKIPX Calmar Ratio Rank: 7777
Calmar Ratio Rank
BKIPX Martin Ratio Rank: 8585
Martin Ratio Rank
DFAAX
DFAAX Risk / Return Rank: 3434
Overall Rank
DFAAX Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
DFAAX Sortino Ratio Rank: 3636
Sortino Ratio Rank
DFAAX Omega Ratio Rank: 4040
Omega Ratio Rank
DFAAX Calmar Ratio Rank: 3030
Calmar Ratio Rank
DFAAX Martin Ratio Rank: 3131
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.

BKIPX vs. DFAAX - 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 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.

BKIPXDFAAXDifference
Sharpe ratioReturn per unit of total volatility
2.04
1.71

+0.33

Sortino ratioReturn per unit of downside risk
4.10
2.50

+1.60

Omega ratioGain probability vs. loss probability

1.52

1.34

+0.18

Calmar ratioReturn relative to maximum drawdown

3.51

2.06

+1.45

Martin ratioReturn relative to average drawdown

16.09

7.27

+8.82

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. DFAAX - Sharpe Ratio Comparison

The current BKIPX Sharpe Ratio is 2.04, which is comparable to the DFAAX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of BKIPX 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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Sharpe Ratios by Period

BKIPXDFAAXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.04

1.71

+0.33

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.92

0.63

+0.29

Sharpe Ratio (All Time)

Calculated using the full available price history

1.13

0.63

+0.51

Drawdowns

BKIPX vs. DFAAX - Drawdown Comparison

The maximum BKIPX drawdown since its inception was -6.42%, smaller than the maximum DFAAX drawdown of -16.64%. Use the drawdown chart below to compare losses from any high point for BKIPX and DFAAX.

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Drawdown Indicators

BKIPXDFAAXDifference

Max Drawdown

Largest peak-to-trough decline

-6.42%

-16.64%

+10.22%

Max Drawdown (1Y)

Largest decline over 1 year

-1.32%

-2.55%

+1.23%

Max Drawdown (3Y)

Largest decline over 3 years

-1.32%

-3.44%

+2.12%

Max Drawdown (5Y)

Largest decline over 5 years

-6.42%

-16.64%

+10.22%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-1.07%

-4.55%

+3.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.29%

0.72%

-0.43%

Volatility

BKIPX vs. DFAAX - Volatility Comparison

iShares Short-Term TIPS Bond Index Fund Class K (BKIPX) has a higher volatility of 1.22% compared to DFA Global Core Plus Real Return Portfolio (DFAAX) at 0.93%. This indicates that BKIPX'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

BKIPXDFAAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.22%

0.93%

+0.29%

Volatility (6M)

Calculated over the trailing 6-month period

1.73%

2.23%

-0.50%

Volatility (1Y)

Calculated over the trailing 1-year period

2.28%

3.06%

-0.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.12%

8.37%

-5.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.64%

8.32%

-5.68%

BKIPX vs. DFAAX - Expense Ratio Comparison

BKIPX has a 0.06% expense ratio, which is lower than DFAAX's 0.29% expense ratio.

Dividends

BKIPX vs. DFAAX - Dividend Comparison

BKIPX's dividend yield for the trailing twelve months is around 4.63%, more than DFAAX's 3.37% yield.

PositionTTM202520242023202220212020201920182017
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%
DFAAX
DFA Global Core Plus Real Return Portfolio		3.37%2.90%4.09%3.96%2.06%13.05%0.00%0.00%0.00%0.00%

Frequently Asked Questions

BKIPX and DFAAX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BKIPX has higher volatility (1.22%) compared to DFAAX (0.93%). In terms of maximum drawdown, BKIPX dropped -6.42% vs DFAAX's -16.64%.

BKIPX currently has the higher Sharpe Ratio (2.04 vs 1.71), 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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