GTIP vs. FIPDX

Last updated Aug 4, 2026

GTIP (Goldman Sachs Access Inflation Protected USD Bond ETF) and FIPDX (Fidelity Inflation-Protected Bond Index Fund) are both Inflation-Protected Bonds funds - GTIP tracks the FTSE Goldman Sachs Treasury Inflation Protected USD Bond Index while FIPDX tracks the Bloomberg US Treasury Inflation-Protected Securities Index. Both are passively managed. Over the past 5 years, GTIP returned 0.27%/yr vs 0.31%/yr for FIPDX. Their correlation of 0.95 means they have usually moved in the same direction. GTIP charges 0.12%/yr vs 0.05%/yr for FIPDX.

Performance

GTIP vs. FIPDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP) and Fidelity Inflation-Protected Bond Index Fund (FIPDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GTIP achieves a 0.58% return, which is significantly higher than FIPDX's 0.55% return.

GTIP

• 1D: 0.10%
• 1M: -0.65%
• 6M: 0.23%
• YTD: 0.58%
• 1Y: 1.79%
• 3Y*: 3.77%
• 5Y*: 0.27%
• 10Y*: —
• ALL TIME*: 3.14%

FIPDX

• 1D: 0.00%
• 1M: -0.44%
• 6M: 0.33%
• YTD: 0.55%
• 1Y: 2.01%
• 3Y*: 3.88%
• 5Y*: 0.31%
• 10Y*: 2.45%
• ALL TIME*: 2.16%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FIPDX Fidelity Inflation-Protected Bond Index Fund	$0.00	$0.00	$0.00
GTIP Goldman Sachs Access Inflation Protected USD Bond ETF	$1.26M	$1.13M	$1.84M

GTIP vs. FIPDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
GTIP Goldman Sachs Access Inflation Protected USD Bond ETF	0.58%	6.63%	2.04%	3.88%	-12.14%	5.86%	10.83%	8.33%	0.32%
FIPDX Fidelity Inflation-Protected Bond Index Fund	0.55%	6.90%	2.00%	3.77%	-12.09%	5.94%	10.90%	8.32%	0.02%

Correlation

The correlation between GTIP and FIPDX is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (All Time) Calculated using the full available price history since Oct 4, 2018	0.95

The correlation between GTIP and FIPDX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

Return for Risk

GTIP vs. FIPDX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GTIP

GTIP Risk / Return Rank: 25
GTIP Sharpe Ratio Rank: 24
GTIP Sortino Ratio Rank: 22
GTIP Omega Ratio Rank: 21
GTIP Calmar Ratio Rank: 28
GTIP Martin Ratio Rank: 29

FIPDX

FIPDX Risk / Return Rank: 21
FIPDX Sharpe Ratio Rank: 19
FIPDX Sortino Ratio Rank: 18
FIPDX Omega Ratio Rank: 18
FIPDX Calmar Ratio Rank: 27
FIPDX Martin Ratio Rank: 23

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GTIP vs. FIPDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP) and Fidelity Inflation-Protected Bond Index Fund (FIPDX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GTIP	FIPDX	Difference
Sharpe ratio: Return per unit of total volatility	0.55	0.78	-0.22
Sortino ratio: Return per unit of downside risk	0.81	1.14	-0.34
Omega ratio: Gain probability vs. loss probability	1.10	1.14	-0.04
Calmar ratio: Return relative to maximum drawdown	0.89	1.33	-0.44
Martin ratio: Return relative to average drawdown	2.50	3.52	-1.02

GTIP vs. FIPDX - Sharpe Ratio Comparison

The current GTIP Sharpe Ratio is 0.55, which is comparable to the FIPDX Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of GTIP and FIPDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GTIP vs. FIPDX - Drawdown Comparison

The maximum GTIP drawdown since its inception was -14.31%, roughly equal to the maximum FIPDX drawdown of -14.32%. Use the drawdown chart below to compare losses from any high point for GTIP and FIPDX.

Drawdown Indicators

	GTIP	FIPDX	Difference
Max Drawdown Largest peak-to-trough decline	-14.31%	-14.32%	+0.01%
Max Drawdown (1Y) Largest decline over 1 year	-2.02%	-1.94%	-0.08%
Max Drawdown (3Y) Largest decline over 3 years	-3.69%	-3.95%	+0.26%
Max Drawdown (5Y) Largest decline over 5 years	-14.31%	-14.32%	+0.01%
Max Drawdown (10Y) Largest decline over 10 years	—	-14.32%	—
Current Drawdown Current decline from peak	-1.27%	-1.19%	-0.08%
Average Drawdown Average peak-to-trough decline	-4.16%	-4.43%	+0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	0.73%	-0.01%

Volatility

GTIP vs. FIPDX - Volatility Comparison

The current volatility for Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP) is 0.69%, while Fidelity Inflation-Protected Bond Index Fund (FIPDX) has a volatility of 0.74%. This indicates that GTIP experiences smaller price fluctuations and is considered to be less risky than FIPDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GTIP	FIPDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.69%	0.74%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	2.50%	2.49%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	3.25%	3.31%	-0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.04%	5.96%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.97%	5.36%	+0.61%

GTIP vs. FIPDX - Expense Ratio Comparison

GTIP has a 0.12% expense ratio, which is higher than FIPDX's 0.05% 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

GTIP vs. FIPDX - Dividend Comparison

GTIP's dividend yield for the trailing twelve months is around 5.98%, more than FIPDX's 4.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIPDX Fidelity Inflation-Protected Bond Index Fund	4.36%	4.18%	3.75%	3.56%	8.87%	4.76%	1.24%	1.97%	2.26%	1.29%	1.34%	0.38%
GTIP Goldman Sachs Access Inflation Protected USD Bond ETF	5.98%	4.58%	3.52%	2.77%	6.47%	3.82%	1.04%	2.34%	0.66%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GTIP and FIPDX in my portfolio?

With a correlation of 0.92, GTIP and FIPDX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GTIP or FIPDX?

FIPDX has higher volatility (0.74%) compared to GTIP (0.69%). In terms of maximum drawdown, GTIP dropped -14.31% vs FIPDX's -14.32%.

Which has better risk-adjusted returns?

FIPDX currently has the higher Sharpe Ratio (0.78 vs 0.55), 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.