GTIP vs. TIP
GTIP (Goldman Sachs Access Inflation Protected USD Bond ETF) and TIP (iShares TIPS Bond ETF) are both Inflation-Protected Bonds funds - GTIP tracks the FTSE Goldman Sachs Treasury Inflation Protected USD Bond Index while TIP tracks the ICE U.S. Treasury Inflation Linked Bond Index. Both are passively managed. Over the past 5 years, GTIP returned 0.94%/yr vs 0.82%/yr for TIP. With a 0.98 correlation, they move nearly in lockstep. GTIP charges 0.12%/yr vs 0.18%/yr for TIP.
Performance
GTIP vs. TIP - Performance Comparison
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Returns By Period
In the year-to-date period, GTIP achieves a 0.87% return, which is significantly higher than TIP's 0.74% return.
GTIP
- 1D
- 0.03%
- 1M
- -0.10%
- YTD
- 0.87%
- 6M
- 0.85%
- 1Y
- 3.48%
- 3Y*
- 3.62%
- 5Y*
- 0.94%
- 10Y*
- —
TIP
- 1D
- -0.04%
- 1M
- -0.19%
- YTD
- 0.74%
- 6M
- 0.81%
- 1Y
- 3.34%
- 3Y*
- 3.52%
- 5Y*
- 0.82%
- 10Y*
- 2.43%
GTIP vs. TIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GTIP Goldman Sachs Access Inflation Protected USD Bond ETF | 0.87% | 6.63% | 2.04% | 3.88% | -12.14% | 5.86% | 10.83% | 8.33% | 0.32% |
TIP iShares TIPS Bond ETF | 0.74% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 10.84% | 8.35% | 0.09% |
Correlation
The correlation between GTIP and TIP is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2018 | 0.98 |
The correlation between GTIP and TIP has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.
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Return for Risk
GTIP vs. TIP — Risk / Return Rank
GTIP
TIP
GTIP vs. TIP - 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 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.
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 | TIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.17 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 1.70 | +0.04 |
| Martin ratioReturn relative to average drawdown | 5.38 | 4.99 | +0.40 |
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Drawdowns
GTIP vs. TIP - Drawdown Comparison
The maximum GTIP drawdown since its inception was -14.31%, roughly equal to the maximum TIP drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for GTIP and TIP.
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Drawdown Indicators
| GTIP | TIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.31% | -14.57% | +0.26% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -1.98% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -4.47% | -4.54% | +0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -14.31% | -14.51% | +0.20% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.51% | — |
Current DrawdownCurrent decline from peak | -0.98% | -1.11% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -4.21% | -3.43% | -0.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.67% | -0.02% |
Volatility
GTIP vs. TIP - Volatility Comparison
The current volatility for Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP) is 1.15%, while iShares TIPS Bond ETF (TIP) has a volatility of 1.22%. This indicates that GTIP 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.
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Volatility by Period
| GTIP | TIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 1.22% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 2.47% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 3.44% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.05% | 6.20% | -0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.00% | 5.74% | +0.26% |
GTIP vs. TIP - Expense Ratio Comparison
GTIP has a 0.12% expense ratio, which is lower than TIP's 0.18% 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. TIP - Dividend Comparison
GTIP's dividend yield for the trailing twelve months is around 4.73%, more than TIP's 3.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GTIP Goldman Sachs Access Inflation Protected USD Bond ETF | 4.73% | 4.58% | 3.52% | 2.77% | 6.47% | 3.82% | 1.04% | 2.34% | 0.66% | 0.00% | 0.00% | 0.00% |
TIP iShares TIPS Bond ETF | 3.79% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
Frequently Asked Questions
With a correlation of 0.96, GTIP and TIP 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.
TIP has higher volatility (1.22%) compared to GTIP (1.15%). In terms of maximum drawdown, GTIP dropped -14.31% vs TIP's -14.57%.
On 5-year performance, GTIP leads with 0.94% vs 0.82% for TIP. On fees, GTIP is cheaper at 0.12% per year. Their volatility is very similar. 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 0.94% return vs 0.82%. 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 0.18% for TIP.
GTIP has the higher dividend yield at 4.73%, compared with 3.79% for TIP.
GTIP tracks FTSE Goldman Sachs Treasury Inflation Protected USD Bond Index, while TIP tracks ICE U.S. Treasury Inflation Linked Bond Index. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.12% for GTIP and 0.18% for TIP.
GTIP currently has the higher Sharpe Ratio (1.04 vs 0.97), 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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