GTIP vs. FIPDX

Last updated Jun 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. Over the past 5 years, GTIP returned 1.09%/yr vs 1.22%/yr for FIPDX. Their correlation of 0.95 suggests significant overlap in exposure. 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

The year-to-date returns for both stocks are quite close, with GTIP having a 1.70% return and FIPDX slightly lower at 1.66%.

GTIP

• 1D: -0.08%
• 1M: 0.04%
• YTD: 1.70%
• 6M: 1.11%
• 1Y: 5.10%
• 3Y*: 4.01%
• 5Y*: 1.09%
• 10Y*: —

FIPDX

• 1D: 0.00%
• 1M: 0.11%
• YTD: 1.66%
• 6M: 1.22%
• 1Y: 5.23%
• 3Y*: 4.08%
• 5Y*: 1.22%
• 10Y*: 2.67%

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

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	1.70%	6.63%	2.04%	3.88%	-12.14%	5.86%	10.83%	8.33%	0.24%
FIPDX Fidelity Inflation-Protected Bond Index Fund	1.66%	6.90%	2.00%	3.77%	-12.09%	5.94%	10.90%	8.32%	0.33%

Correlation

The correlation between GTIP and FIPDX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Oct 5, 2018	0.95

The correlation between GTIP and FIPDX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

GTIP vs. FIPDX — Risk / Return Rank

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

GTIP

GTIP Risk / Return Rank: 47
GTIP Sharpe Ratio Rank: 44
GTIP Sortino Ratio Rank: 47
GTIP Omega Ratio Rank: 43
GTIP Calmar Ratio Rank: 51
GTIP Martin Ratio Rank: 48

FIPDX

FIPDX Risk / Return Rank: 34
FIPDX Sharpe Ratio Rank: 29
FIPDX Sortino Ratio Rank: 31
FIPDX Omega Ratio Rank: 29
FIPDX Calmar Ratio Rank: 48
FIPDX Martin Ratio Rank: 34

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.

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.

	GTIP	FIPDX	Difference
Sharpe ratio: Return per unit of total volatility	1.53	1.53	0.00
Sortino ratio: Return per unit of downside risk	2.33	2.30	+0.03
Omega ratio: Gain probability vs. loss probability	1.28	1.28	0.00
Calmar ratio: Return relative to maximum drawdown	2.54	2.65	-0.11
Martin ratio: Return relative to average drawdown	8.00	7.78	+0.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GTIP vs. FIPDX - Sharpe Ratio Comparison

The current GTIP Sharpe Ratio is 1.53, which is comparable to the FIPDX Sharpe Ratio of 1.53. 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.

Sharpe Ratios by Period

	GTIP	FIPDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	1.53	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	0.21	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.41	+0.14

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	-4.47%	-4.49%	+0.02%
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	-0.17%	-0.11%	-0.06%
Average Drawdown Average peak-to-trough decline	-4.24%	-4.47%	+0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.64%	0.66%	-0.02%

Volatility

GTIP vs. FIPDX - Volatility Comparison

Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP) has a higher volatility of 0.97% compared to Fidelity Inflation-Protected Bond Index Fund (FIPDX) at 0.90%. This indicates that GTIP's price experiences larger fluctuations and is considered to be riskier 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	0.97%	0.90%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	2.32%	2.30%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	3.34%	3.38%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.07%	5.98%	+0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.01%	5.37%	+0.64%

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 4.69%, more than FIPDX's 3.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIPDX Fidelity Inflation-Protected Bond Index Fund	3.79%	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	4.69%	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 0.93, 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?

GTIP has higher volatility (0.97%) compared to FIPDX (0.90%). In terms of maximum drawdown, GTIP dropped -14.31% vs FIPDX's -14.32%.

Which has better risk-adjusted returns?

GTIP currently has the higher Sharpe Ratio (1.53 vs 1.53), 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.