GTIP vs. LTPZ
GTIP (Goldman Sachs Access Inflation Protected USD Bond ETF) and LTPZ (PIMCO 15+ Year US TIPS Index ETF) are both Inflation-Protected Bonds funds - GTIP tracks the FTSE Goldman Sachs Treasury Inflation Protected USD Bond Index while LTPZ tracks the ICE BofA US Inflation-Linked Treasury (15+ Y). Both are passively managed. Over the past 5 years, GTIP returned 1.09%/yr vs -5.24%/yr for LTPZ. Their correlation of 0.90 suggests significant overlap in exposure. GTIP charges 0.12%/yr vs 0.20%/yr for LTPZ.
Performance
GTIP vs. LTPZ - Performance Comparison
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Returns By Period
In the year-to-date period, GTIP achieves a 1.70% return, which is significantly higher than LTPZ's 0.41% return.
GTIP
- 1D
- -0.08%
- 1M
- 0.04%
- YTD
- 1.70%
- 6M
- 1.11%
- 1Y
- 5.10%
- 3Y*
- 4.01%
- 5Y*
- 1.09%
- 10Y*
- —
LTPZ
- 1D
- -0.49%
- 1M
- 1.02%
- YTD
- 0.41%
- 6M
- -1.15%
- 1Y
- 4.72%
- 3Y*
- -0.79%
- 5Y*
- -5.24%
- 10Y*
- 0.75%
GTIP vs. LTPZ - 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% |
LTPZ PIMCO 15+ Year US TIPS Index ETF | 0.41% | 4.00% | -4.80% | 0.96% | -31.71% | 7.02% | 24.89% | 17.47% | -0.10% |
Correlation
The correlation between GTIP and LTPZ is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Oct 5, 2018 | 0.90 |
The correlation between GTIP and LTPZ has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.
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Return for Risk
GTIP vs. LTPZ — Risk / Return Rank
GTIP
LTPZ
GTIP vs. LTPZ - 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 PIMCO 15+ Year US TIPS Index ETF (LTPZ). 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 | LTPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.02 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.09 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.54 | 0.68 | +1.86 |
| Martin ratioReturn relative to average drawdown | 8.00 | 1.48 | +6.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GTIP | LTPZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.53 | 0.51 | +1.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | -0.33 | +0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.05 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.21 | +0.35 |
Drawdowns
GTIP vs. LTPZ - Drawdown Comparison
The maximum GTIP drawdown since its inception was -14.31%, smaller than the maximum LTPZ drawdown of -40.99%. Use the drawdown chart below to compare losses from any high point for GTIP and LTPZ.
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Drawdown Indicators
| GTIP | LTPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.31% | -40.99% | +26.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -7.00% | +4.98% |
Max Drawdown (3Y)Largest decline over 3 years | -4.47% | -16.27% | +11.80% |
Max Drawdown (5Y)Largest decline over 5 years | -14.31% | -40.99% | +26.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.99% | — |
Current DrawdownCurrent decline from peak | -0.17% | -32.74% | +32.57% |
Average DrawdownAverage peak-to-trough decline | -4.24% | -12.41% | +8.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 3.20% | -2.56% |
Volatility
GTIP vs. LTPZ - Volatility Comparison
The current volatility for Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP) is 0.97%, while PIMCO 15+ Year US TIPS Index ETF (LTPZ) has a volatility of 2.32%. This indicates that GTIP experiences smaller price fluctuations and is considered to be less risky than LTPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GTIP | LTPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 2.32% | -1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 2.32% | 6.41% | -4.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.34% | 9.26% | -5.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.07% | 15.89% | -9.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.01% | 15.07% | -9.06% |
GTIP vs. LTPZ - Expense Ratio Comparison
GTIP has a 0.12% expense ratio, which is lower than LTPZ's 0.20% 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%.
Dividends
GTIP vs. LTPZ - Dividend Comparison
GTIP's dividend yield for the trailing twelve months is around 4.69%, less than LTPZ's 5.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
LTPZ PIMCO 15+ Year US TIPS Index ETF | 5.23% | 4.64% | 3.71% | 3.71% | 8.38% | 3.56% | 1.42% | 1.74% | 3.05% | 2.25% | 2.32% | 0.71% |
Frequently Asked Questions
GTIP and LTPZ have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LTPZ has higher volatility (2.32%) compared to GTIP (0.97%). In terms of maximum drawdown, GTIP dropped -14.31% vs LTPZ's -40.99%.
On 5-year performance, GTIP leads with 1.09% vs -5.24% for LTPZ. On fees, GTIP is cheaper at 0.12% per year. On volatility, GTIP has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GTIP has performed better with a 1.09% return vs -5.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GTIP is cheaper with a 0.12% expense ratio, compared with 0.20% for LTPZ.
LTPZ has the higher dividend yield at 5.23%, compared with 4.69% for GTIP.
GTIP tracks FTSE Goldman Sachs Treasury Inflation Protected USD Bond Index, while LTPZ tracks ICE BofA US Inflation-Linked Treasury (15+ Y). They also come from different issuers: Goldman Sachs and PIMCO. Their fees differ too: 0.12% for GTIP and 0.20% for LTPZ.
GTIP currently has the higher Sharpe Ratio (1.53 vs 0.51), 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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