IBIE vs. PGJ
IBIE (iShares iBonds Oct 2028 Term TIPS ETF) and PGJ (Invesco Golden Dragon China ETF) are both exchange-traded funds - IBIE is a Inflation-Protected Bonds fund tracking the ICE 2028 Maturity US Inflation-Linked Treasury Index, while PGJ is a China Equities fund tracking the Halter USX China Index. Both are passively managed. Over the past year, IBIE returned 4.68% vs -7.05% for PGJ. At a 0.02 correlation, their price movements are largely independent. IBIE charges 0.10%/yr vs 0.70%/yr for PGJ.
Performance
IBIE vs. PGJ - Performance Comparison
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Returns By Period
In the year-to-date period, IBIE achieves a 2.09% return, which is significantly higher than PGJ's -11.48% return.
IBIE
- 1D
- -0.02%
- 1M
- 0.30%
- YTD
- 2.09%
- 6M
- 2.10%
- 1Y
- 4.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PGJ
- 1D
- -0.55%
- 1M
- -4.23%
- YTD
- -11.48%
- 6M
- -13.73%
- 1Y
- -7.05%
- 3Y*
- 2.92%
- 5Y*
- -13.73%
- 10Y*
- 0.21%
IBIE vs. PGJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBIE iShares iBonds Oct 2028 Term TIPS ETF | 2.09% | 6.46% | 3.95% | 2.93% |
PGJ Invesco Golden Dragon China ETF | -11.48% | 13.66% | 5.91% | -4.23% |
Correlation
The correlation between IBIE and PGJ is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2023 | 0.02 |
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Return for Risk
IBIE vs. PGJ — Risk / Return Rank
IBIE
PGJ
IBIE vs. PGJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2028 Term TIPS ETF (IBIE) and Invesco Golden Dragon China ETF (PGJ). 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.
| IBIE | PGJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.31 | ||
| Sortino ratioReturn per unit of downside risk | +5.71 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 0.97 | +0.70 |
| Calmar ratioReturn relative to maximum drawdown | 8.51 | -0.28 | +8.79 |
| Martin ratioReturn relative to average drawdown | 25.61 | -0.52 | +26.13 |
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
| IBIE | PGJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.02 | -0.29 | +3.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.32 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.01 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.01 | 0.12 | +1.90 |
Drawdowns
IBIE vs. PGJ - Drawdown Comparison
The maximum IBIE drawdown since its inception was -1.70%, smaller than the maximum PGJ drawdown of -78.37%. Use the drawdown chart below to compare losses from any high point for IBIE and PGJ.
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Drawdown Indicators
| IBIE | PGJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.70% | -78.37% | +76.67% |
Max Drawdown (1Y)Largest decline over 1 year | -0.55% | -25.69% | +25.14% |
Max Drawdown (3Y)Largest decline over 3 years | — | -30.82% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -70.00% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -78.37% | — |
Current DrawdownCurrent decline from peak | -0.02% | -66.25% | +66.23% |
Average DrawdownAverage peak-to-trough decline | -0.39% | -31.74% | +31.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 13.49% | -13.30% |
Volatility
IBIE vs. PGJ - Volatility Comparison
The current volatility for iShares iBonds Oct 2028 Term TIPS ETF (IBIE) is 0.36%, while Invesco Golden Dragon China ETF (PGJ) has a volatility of 8.54%. This indicates that IBIE experiences smaller price fluctuations and is considered to be less risky than PGJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIE | PGJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 8.54% | -8.18% |
Volatility (6M)Calculated over the trailing 6-month period | 0.97% | 17.28% | -16.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.56% | 24.46% | -22.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.85% | 43.73% | -40.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.85% | 36.69% | -33.84% |
IBIE vs. PGJ - Expense Ratio Comparison
IBIE has a 0.10% expense ratio, which is lower than PGJ's 0.70% expense ratio.
Dividends
IBIE vs. PGJ - Dividend Comparison
IBIE's dividend yield for the trailing twelve months is around 3.25%, less than PGJ's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIE iShares iBonds Oct 2028 Term TIPS ETF | 3.25% | 4.09% | 4.23% | 0.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PGJ Invesco Golden Dragon China ETF | 3.58% | 3.38% | 4.70% | 2.50% | 0.84% | 0.00% | 0.30% | 0.17% | 0.31% | 2.05% | 1.94% | 0.37% |
Frequently Asked Questions
IBIE and PGJ have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGJ has higher volatility (8.54%) compared to IBIE (0.36%). In terms of maximum drawdown, IBIE dropped -1.70% vs PGJ's -78.37%.
On 1-year performance, IBIE leads with 4.68% vs -7.05% for PGJ. On fees, IBIE is cheaper at 0.10% per year. On volatility, IBIE has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIE has performed better with a 4.68% return vs -7.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIE is cheaper with a 0.10% expense ratio, compared with 0.70% for PGJ.
PGJ has the higher dividend yield at 3.58%, compared with 3.25% for IBIE.
IBIE is categorized as Inflation-Protected Bonds, while PGJ is China Equities. IBIE tracks ICE 2028 Maturity US Inflation-Linked Treasury Index, while PGJ tracks Halter USX China Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.10% for IBIE and 0.70% for PGJ.
IBIE currently has the higher Sharpe Ratio (3.02 vs -0.29), 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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