FIPDX vs. TIP
Compare and contrast key facts about Fidelity Inflation-Protected Bond Index Fund (FIPDX) and iShares TIPS Bond ETF (TIP).
FIPDX is managed by Fidelity. It was launched on May 16, 2012. TIP is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L). It was launched on Dec 4, 2003.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FIPDX or TIP.
Key characteristics
| FIPDX | TIP | |
|---|---|---|
| YTD Return | -0.02% | -0.13% |
| 1Y Return | 1.14% | 1.00% |
| 3Y Return (Ann) | -1.46% | -1.56% |
| 5Y Return (Ann) | 2.27% | 2.17% |
| 10Y Return (Ann) | 1.87% | 1.77% |
| Sharpe Ratio | 0.24 | 0.11 |
| Daily Std Dev | 5.76% | 5.91% |
| Max Drawdown | -14.29% | -14.56% |
| Current Drawdown | -9.27% | -9.51% |
Correlation
The correlation between FIPDX and TIP is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
FIPDX vs. TIP - Performance Comparison
In the year-to-date period, FIPDX achieves a -0.02% return, which is significantly higher than TIP's -0.13% return. Over the past 10 years, FIPDX has outperformed TIP with an annualized return of 1.87%, while TIP has yielded a comparatively lower 1.77% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FIPDX vs. TIP - Expense Ratio Comparison
FIPDX has a 0.05% expense ratio, which is lower than TIP's 0.19% 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%.
Risk-Adjusted Performance
FIPDX vs. TIP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Inflation-Protected Bond Index Fund (FIPDX) and iShares TIPS Bond ETF (TIP). 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.
Dividends
FIPDX vs. TIP - Dividend Comparison
FIPDX's dividend yield for the trailing twelve months is around 3.74%, more than TIP's 2.81% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIPDX Fidelity Inflation-Protected Bond Index Fund | 3.74% | 3.59% | 8.87% | 4.76% | 1.24% | 1.96% | 2.31% | 1.25% | 1.59% | 0.38% | 1.10% | 0.66% |
TIP iShares TIPS Bond ETF | 2.81% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% | 1.67% | 1.15% |
Drawdowns
FIPDX vs. TIP - Drawdown Comparison
The maximum FIPDX drawdown since its inception was -14.29%, roughly equal to the maximum TIP drawdown of -14.56%. Use the drawdown chart below to compare losses from any high point for FIPDX and TIP. For additional features, visit the drawdowns tool.
Volatility
FIPDX vs. TIP - Volatility Comparison
The current volatility for Fidelity Inflation-Protected Bond Index Fund (FIPDX) is 1.09%, while iShares TIPS Bond ETF (TIP) has a volatility of 1.15%. This indicates that FIPDX experiences smaller price fluctuations and is considered to be less risky than TIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.