GTIP vs. LTPZ
GTIP (Goldman Sachs Access Inflation Protected USD Bond ETF) and LTPZ (PIMCO 15+ Year U.S. 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 0.27%/yr vs -7.35%/yr for LTPZ. Their correlation of 0.90 means they have usually moved in the same direction. 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 0.58% return, which is significantly higher than LTPZ's -3.35% 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%
LTPZ
- 1D
- 0.42%
- 1M
- -3.33%
- 6M
- -2.92%
- YTD
- -3.35%
- 1Y
- -2.09%
- 3Y*
- -1.08%
- 5Y*
- -7.35%
- 10Y*
- -0.17%
- ALL TIME*
- 2.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.26M | $1.13M | $1.84M | |
| $12.67M | $8.82M | $7.84M |
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 | 0.58% | 6.63% | 2.04% | 3.88% | -12.14% | 5.86% | 10.83% | 8.33% | 0.32% |
LTPZ PIMCO 15+ Year U.S. TIPS Index ETF | -3.35% | 4.00% | -4.80% | 0.96% | -31.71% | 7.02% | 24.89% | 17.47% | -0.87% |
Correlation
The correlation between GTIP and LTPZ is 0.84, 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. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2018 | 0.90 |
The correlation between GTIP and LTPZ has been stable across timeframes, ranging from 0.84 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 U.S. 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.
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 | LTPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.97 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | -0.26 | +1.15 |
| Martin ratioReturn relative to average drawdown | 2.50 | -0.54 | +3.04 |
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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% | -8.09% | +6.07% |
Max Drawdown (3Y)Largest decline over 3 years | -3.69% | -12.64% | +8.95% |
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 | -1.27% | -35.26% | +33.99% |
Average DrawdownAverage peak-to-trough decline | -4.16% | -12.61% | +8.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 3.89% | -3.17% |
Volatility
GTIP vs. LTPZ - Volatility Comparison
The current volatility for Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP) is 0.69%, while PIMCO 15+ Year U.S. TIPS Index ETF (LTPZ) has a volatility of 2.08%. 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 | 0.69% | 2.08% | -1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 2.50% | 6.77% | -4.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.25% | 9.01% | -5.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.04% | 15.86% | -9.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.97% | 15.02% | -9.05% |
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 5.98%, less than LTPZ's 7.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
LTPZ PIMCO 15+ Year U.S. TIPS Index ETF | 7.00% | 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 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LTPZ has higher volatility (2.08%) compared to GTIP (0.69%). In terms of maximum drawdown, GTIP dropped -14.31% vs LTPZ's -40.99%.
On 5-year performance, GTIP leads with 0.27% vs -7.35% for LTPZ. On fees, GTIP is cheaper at 0.12% per year. On volatility, GTIP has been the lower-risk option at 0.69%. 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 0.27% return vs -7.35%. 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 7.00%, compared with 5.98% 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 (0.55 vs -0.23), 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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