DSPY vs. IBIC

Last updated Jun 4, 2026

DSPY (Tema S&P 500 Historical Weight ETF Strategy) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - DSPY is a Large Cap Blend Equities fund actively managed by Tema, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. DSPY is actively managed, while IBIC is passively managed. Over the past year, DSPY returned 26.81% vs 4.54% for IBIC. At a correlation of -0.22, they often move in opposite directions. DSPY charges 0.18%/yr vs 0.10%/yr for IBIC.

Performance

DSPY vs. IBIC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema S&P 500 Historical Weight ETF Strategy (DSPY) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DSPY achieves a 12.26% return, which is significantly higher than IBIC's 2.37% return.

DSPY

• 1D: -0.36%
• 1M: 5.59%
• YTD: 12.26%
• 6M: 12.63%
• 1Y: 26.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIC

• 1D: 0.02%
• 1M: 0.27%
• YTD: 2.37%
• 6M: 2.51%
• 1Y: 4.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DSPY vs. IBIC - Yearly Performance Comparison

	2026 (YTD)	2025
DSPY Tema S&P 500 Historical Weight ETF Strategy	12.26%	18.46%
IBIC iShares iBonds Oct 2026 Term TIPS ETF	2.37%	2.44%

Correlation

The correlation between DSPY and IBIC is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.21
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025	-0.22

Return for Risk

DSPY vs. IBIC — Risk / Return Rank

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

DSPY

DSPY Risk / Return Rank: 75
DSPY Sharpe Ratio Rank: 75
DSPY Sortino Ratio Rank: 75
DSPY Omega Ratio Rank: 72
DSPY Calmar Ratio Rank: 72
DSPY Martin Ratio Rank: 82

IBIC

IBIC Risk / Return Rank: 98
IBIC Sharpe Ratio Rank: 97
IBIC Sortino Ratio Rank: 98
IBIC Omega Ratio Rank: 98
IBIC Calmar Ratio Rank: 98
IBIC Martin Ratio Rank: 98

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.

DSPY vs. IBIC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema S&P 500 Historical Weight ETF Strategy (DSPY) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). 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.

	DSPY	IBIC	Difference
Sharpe ratio: Return per unit of total volatility	2.41	5.05	-2.64
Sortino ratio: Return per unit of downside risk	3.34	9.12	-5.78
Omega ratio: Gain probability vs. loss probability	1.43	2.24	-0.82
Calmar ratio: Return relative to maximum drawdown	3.57	17.27	-13.70
Martin ratio: Return relative to average drawdown	16.34	67.45	-51.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DSPY vs. IBIC - Sharpe Ratio Comparison

The current DSPY Sharpe Ratio is 2.41, which is lower than the IBIC Sharpe Ratio of 5.05. The chart below compares the historical Sharpe Ratios of DSPY and IBIC, 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

	DSPY	IBIC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	5.05	-2.64
Sharpe Ratio (All Time) Calculated using the full available price history	1.68	3.49	-1.81

Drawdowns

DSPY vs. IBIC - Drawdown Comparison

The maximum DSPY drawdown since its inception was -12.15%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for DSPY and IBIC.

Drawdown Indicators

	DSPY	IBIC	Difference
Max Drawdown Largest peak-to-trough decline	-12.15%	-0.90%	-11.25%
Max Drawdown (1Y) Largest decline over 1 year	-7.55%	-0.26%	-7.29%
Current Drawdown Current decline from peak	-0.36%	-0.13%	-0.23%
Average Drawdown Average peak-to-trough decline	-1.25%	-0.10%	-1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	0.07%	+1.57%

Volatility

DSPY vs. IBIC - Volatility Comparison

Tema S&P 500 Historical Weight ETF Strategy (DSPY) has a higher volatility of 2.82% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.33%. This indicates that DSPY's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DSPY	IBIC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	0.33%	+2.49%
Volatility (6M) Calculated over the trailing 6-month period	8.52%	0.67%	+7.85%
Volatility (1Y) Calculated over the trailing 1-year period	11.21%	0.90%	+10.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.53%	1.58%	+14.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.53%	1.58%	+14.95%

DSPY vs. IBIC - Expense Ratio Comparison

DSPY has a 0.18% expense ratio, which is higher than IBIC's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DSPY vs. IBIC - Dividend Comparison

DSPY's dividend yield for the trailing twelve months is around 0.74%, less than IBIC's 3.59% yield.

Position	TTM	2025	2024	2023
DSPY Tema S&P 500 Historical Weight ETF Strategy	0.74%	0.72%	0.00%	0.00%
IBIC iShares iBonds Oct 2026 Term TIPS ETF	3.59%	4.43%	4.65%	0.83%

Frequently Asked Questions

Can I hold both DSPY and IBIC in my portfolio?

DSPY and IBIC have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DSPY or IBIC?

DSPY has higher volatility (2.82%) compared to IBIC (0.33%). In terms of maximum drawdown, DSPY dropped -12.15% vs IBIC's -0.90%.

Which ETF is better, DSPY or IBIC?

On 1-year performance, DSPY leads with 26.81% vs 4.54% for IBIC. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DSPY or IBIC?

Over the 1-year period, DSPY has performed better with a 26.81% return vs 4.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DSPY or IBIC?

IBIC is cheaper with a 0.10% expense ratio, compared with 0.18% for DSPY.

Which ETF pays a higher dividend yield, DSPY or IBIC?

IBIC has the higher dividend yield at 3.59%, compared with 0.74% for DSPY.

What is the main difference between DSPY and IBIC?

DSPY is categorized as Large Cap Blend Equities, while IBIC is Inflation-Protected Bonds. They also come from different issuers: Tema and iShares. Their fees differ too: 0.18% for DSPY and 0.10% for IBIC.

Which has better risk-adjusted returns?

IBIC currently has the higher Sharpe Ratio (5.05 vs 2.41), 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.