IBII vs. DFIP

Last updated Jun 26, 2026

IBII (iShares iBonds Oct 2032 Term TIPS ETF) and DFIP (Dimensional Inflation-Protected Securities ETF) are both Inflation-Protected Bonds funds. IBII is passively managed, while DFIP is actively managed. Over the past year, IBII returned 4.13% vs 3.75% for DFIP. With a 0.97 correlation, they move nearly in lockstep. IBII charges 0.10%/yr vs 0.11%/yr for DFIP.

Performance

IBII vs. DFIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Oct 2032 Term TIPS ETF (IBII) and Dimensional Inflation-Protected Securities ETF (DFIP). 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 IBII having a 1.28% return and DFIP slightly lower at 1.22%.

IBII

• 1D: 0.31%
• 1M: -0.25%
• YTD: 1.28%
• 6M: 1.16%
• 1Y: 4.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFIP

• 1D: 0.15%
• 1M: -0.13%
• YTD: 1.22%
• 6M: 1.10%
• 1Y: 3.75%
• 3Y*: 4.02%
• 5Y*: —
• 10Y*: —

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

IBII vs. DFIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IBII iShares iBonds Oct 2032 Term TIPS ETF	1.28%	8.65%	1.21%	4.85%
DFIP Dimensional Inflation-Protected Securities ETF	1.22%	7.54%	1.72%	3.74%

Correlation

The correlation between IBII and DFIP 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 (All Time) Calculated using the full available price history since Sep 21, 2023	0.97

The correlation between IBII and DFIP has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

IBII vs. DFIP — Risk / Return Rank

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

IBII

IBII Risk / Return Rank: 39
IBII Sharpe Ratio Rank: 35
IBII Sortino Ratio Rank: 36
IBII Omega Ratio Rank: 34
IBII Calmar Ratio Rank: 46
IBII Martin Ratio Rank: 43

DFIP

DFIP Risk / Return Rank: 35
DFIP Sharpe Ratio Rank: 33
DFIP Sortino Ratio Rank: 32
DFIP Omega Ratio Rank: 30
DFIP Calmar Ratio Rank: 41
DFIP Martin Ratio Rank: 38

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.

IBII vs. DFIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2032 Term TIPS ETF (IBII) and Dimensional Inflation-Protected Securities ETF (DFIP). 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.

	IBII	DFIP	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.07	+0.11
Sortino ratio: Return per unit of downside risk	1.76	1.61	+0.15
Omega ratio: Gain probability vs. loss probability	1.21	1.19	+0.02
Calmar ratio: Return relative to maximum drawdown	2.09	1.83	+0.26
Martin ratio: Return relative to average drawdown	6.56	5.35	+1.21

IBII vs. DFIP - Sharpe Ratio Comparison

The current IBII Sharpe Ratio is 1.18, which is comparable to the DFIP Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of IBII and DFIP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IBII vs. DFIP - Drawdown Comparison

The maximum IBII drawdown since its inception was -4.65%, smaller than the maximum DFIP drawdown of -14.96%. Use the drawdown chart below to compare losses from any high point for IBII and DFIP.

Drawdown Indicators

	IBII	DFIP	Difference
Max Drawdown Largest peak-to-trough decline	-4.65%	-14.96%	+10.31%
Max Drawdown (1Y) Largest decline over 1 year	-1.98%	-2.06%	+0.08%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.82%	—
Current Drawdown Current decline from peak	-0.99%	-0.73%	-0.26%
Average Drawdown Average peak-to-trough decline	-1.12%	-6.87%	+5.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	0.70%	-0.07%

Volatility

IBII vs. DFIP - Volatility Comparison

iShares iBonds Oct 2032 Term TIPS ETF (IBII) has a higher volatility of 1.39% compared to Dimensional Inflation-Protected Securities ETF (DFIP) at 1.30%. This indicates that IBII's price experiences larger fluctuations and is considered to be riskier than DFIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBII	DFIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.39%	1.30%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	2.56%	2.54%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	3.50%	3.51%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.42%	6.79%	-1.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.42%	6.79%	-1.37%

IBII vs. DFIP - Expense Ratio Comparison

IBII has a 0.10% expense ratio, which is lower than DFIP's 0.11% 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

IBII vs. DFIP - Dividend Comparison

IBII's dividend yield for the trailing twelve months is around 4.06%, less than DFIP's 4.64% yield.

Position	TTM	2025	2024	2023	2022	2021
DFIP Dimensional Inflation-Protected Securities ETF	4.64%	4.70%	3.69%	3.68%	5.97%	0.56%
IBII iShares iBonds Oct 2032 Term TIPS ETF	4.06%	4.80%	4.76%	1.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBII and DFIP in my portfolio?

With a correlation of 0.96, IBII and DFIP 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, IBII or DFIP?

IBII has higher volatility (1.39%) compared to DFIP (1.30%). In terms of maximum drawdown, IBII dropped -4.65% vs DFIP's -14.96%.

Which ETF is better, IBII or DFIP?

On 1-year performance, IBII leads with 4.13% vs 3.75% for DFIP. On fees, IBII is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBII or DFIP?

Over the 1-year period, IBII has performed better with a 4.13% return vs 3.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBII or DFIP?

IBII is cheaper with a 0.10% expense ratio, compared with 0.11% for DFIP.

Which ETF pays a higher dividend yield, IBII or DFIP?

DFIP has the higher dividend yield at 4.64%, compared with 4.06% for IBII.

What is the main difference between IBII and DFIP?

They also come from different issuers: iShares and Dimensional. Their fees differ too: 0.10% for IBII and 0.11% for DFIP.

Which has better risk-adjusted returns?

IBII currently has the higher Sharpe Ratio (1.18 vs 1.07), 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.