IBII vs. LTPZ
IBII (iShares iBonds Oct 2032 Term TIPS ETF) and LTPZ (PIMCO 15+ Year US TIPS Index ETF) are both Inflation-Protected Bonds funds - IBII tracks the ICE 2032 Maturity US Inflation-Linked Treasury Index while LTPZ tracks the ICE BofA US Inflation-Linked Treasury (15+ Y). Both are passively managed. Over the past year, IBII returned 5.28% vs 3.59% for LTPZ. Their correlation of 0.87 suggests significant overlap in exposure. IBII charges 0.10%/yr vs 0.20%/yr for LTPZ.
Performance
IBII vs. LTPZ - Performance Comparison
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Returns By Period
In the year-to-date period, IBII achieves a 1.63% return, which is significantly higher than LTPZ's 0.57% return.
IBII
- 1D
- 0.02%
- 1M
- -0.38%
- YTD
- 1.63%
- 6M
- 1.21%
- 1Y
- 5.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
LTPZ
- 1D
- 0.15%
- 1M
- 0.72%
- YTD
- 0.57%
- 6M
- -0.64%
- 1Y
- 3.59%
- 3Y*
- -0.77%
- 5Y*
- -5.21%
- 10Y*
- 0.80%
IBII vs. LTPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBII iShares iBonds Oct 2032 Term TIPS ETF | 1.63% | 8.65% | 1.21% | 4.85% |
LTPZ PIMCO 15+ Year US TIPS Index ETF | 0.57% | 4.00% | -4.80% | 6.87% |
Correlation
The correlation between IBII and LTPZ is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023 | 0.87 |
The correlation between IBII and LTPZ shifts across timeframes, from 0.76 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBII vs. LTPZ — Risk / Return Rank
IBII
LTPZ
IBII vs. LTPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2032 Term TIPS ETF (IBII) 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.
| IBII | LTPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.17 | ||
| Sortino ratioReturn per unit of downside risk | +1.76 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.07 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.68 | 0.51 | +2.16 |
| Martin ratioReturn relative to average drawdown | 9.32 | 1.12 | +8.20 |
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
| IBII | LTPZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 0.39 | +1.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.33 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.05 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.12 | 0.21 | +0.91 |
Drawdowns
IBII vs. LTPZ - Drawdown Comparison
The maximum IBII drawdown since its inception was -4.65%, smaller than the maximum LTPZ drawdown of -40.99%. Use the drawdown chart below to compare losses from any high point for IBII and LTPZ.
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Drawdown Indicators
| IBII | LTPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.65% | -40.99% | +36.34% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -7.00% | +5.02% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.27% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.99% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.99% | — |
Current DrawdownCurrent decline from peak | -0.65% | -32.64% | +31.99% |
Average DrawdownAverage peak-to-trough decline | -1.12% | -12.41% | +11.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 3.21% | -2.63% |
Volatility
IBII vs. LTPZ - Volatility Comparison
The current volatility for iShares iBonds Oct 2032 Term TIPS ETF (IBII) is 0.89%, while PIMCO 15+ Year US TIPS Index ETF (LTPZ) has a volatility of 2.29%. This indicates that IBII 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
| IBII | LTPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 2.29% | -1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 6.41% | -4.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.42% | 9.26% | -5.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.42% | 15.87% | -10.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.42% | 15.06% | -9.64% |
IBII vs. LTPZ - Expense Ratio Comparison
IBII has a 0.10% 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
IBII vs. LTPZ - Dividend Comparison
IBII's dividend yield for the trailing twelve months is around 4.05%, less than LTPZ's 5.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBII iShares iBonds Oct 2032 Term TIPS ETF | 4.05% | 4.80% | 4.76% | 1.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LTPZ PIMCO 15+ Year US TIPS Index ETF | 5.22% | 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
IBII and LTPZ have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LTPZ has higher volatility (2.29%) compared to IBII (0.89%). In terms of maximum drawdown, IBII dropped -4.65% vs LTPZ's -40.99%.
On 1-year performance, IBII leads with 5.28% vs 3.59% for LTPZ. On fees, IBII is cheaper at 0.10% per year. On volatility, IBII has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBII has performed better with a 5.28% return vs 3.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBII is cheaper with a 0.10% expense ratio, compared with 0.20% for LTPZ.
LTPZ has the higher dividend yield at 5.22%, compared with 4.05% for IBII.
IBII tracks ICE 2032 Maturity US Inflation-Linked Treasury Index, while LTPZ tracks ICE BofA US Inflation-Linked Treasury (15+ Y). They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.10% for IBII and 0.20% for LTPZ.
IBII currently has the higher Sharpe Ratio (1.56 vs 0.39), 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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