IBIK vs. TIPZ
IBIK (iShares iBonds Oct 2034 Term TIPS ETF) and TIPZ (PIMCO Broad US TIPS Index ETF) are both Inflation-Protected Bonds funds - IBIK tracks the iBonds Oct 2034 Term TIPS Index while TIPZ tracks the ICE BofA US Inflation-Linked Treasury. Both are passively managed. Over the past year, IBIK returned 6.15% vs 5.12% for TIPZ. With a 0.96 correlation, they move nearly in lockstep. IBIK charges 0.10%/yr vs 0.20%/yr for TIPZ.
Performance
IBIK vs. TIPZ - Performance Comparison
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Returns By Period
In the year-to-date period, IBIK achieves a 1.45% return, which is significantly lower than TIPZ's 2.58% return.
IBIK
- 1D
- -0.25%
- 1M
- -0.38%
- YTD
- 1.45%
- 6M
- 0.91%
- 1Y
- 6.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TIPZ
- 1D
- -0.20%
- 1M
- -0.01%
- YTD
- 2.58%
- 6M
- 1.00%
- 1Y
- 5.12%
- 3Y*
- 3.86%
- 5Y*
- 0.77%
- 10Y*
- 2.49%
IBIK vs. TIPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIK iShares iBonds Oct 2034 Term TIPS ETF | 1.45% | 8.78% | 1.43% |
TIPZ PIMCO Broad US TIPS Index ETF | 2.58% | 5.87% | 1.62% |
Correlation
The correlation between IBIK and TIPZ is 0.95 - 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 | 0.95 |
Correlation (All Time) Calculated using the full available price history since May 28, 2024 | 0.96 |
The correlation between IBIK and TIPZ has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
IBIK vs. TIPZ — Risk / Return Rank
IBIK
TIPZ
IBIK vs. TIPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2034 Term TIPS ETF (IBIK) and PIMCO Broad US TIPS Index ETF (TIPZ). 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.
| IBIK | TIPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.24 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 2.36 | +0.10 |
| Martin ratioReturn relative to average drawdown | 8.52 | 7.37 | +1.14 |
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
| IBIK | TIPZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.47 | 1.31 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.12 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.08 | 0.53 | +0.56 |
Drawdowns
IBIK vs. TIPZ - Drawdown Comparison
The maximum IBIK drawdown since its inception was -5.59%, smaller than the maximum TIPZ drawdown of -15.77%. Use the drawdown chart below to compare losses from any high point for IBIK and TIPZ.
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Drawdown Indicators
| IBIK | TIPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.59% | -15.77% | +10.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -2.18% | -0.32% |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.74% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.77% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.77% | — |
Current DrawdownCurrent decline from peak | -0.65% | -1.44% | +0.79% |
Average DrawdownAverage peak-to-trough decline | -1.24% | -4.33% | +3.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 0.70% | +0.02% |
Volatility
IBIK vs. TIPZ - Volatility Comparison
iShares iBonds Oct 2034 Term TIPS ETF (IBIK) has a higher volatility of 1.20% compared to PIMCO Broad US TIPS Index ETF (TIPZ) at 0.96%. This indicates that IBIK's price experiences larger fluctuations and is considered to be riskier than TIPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIK | TIPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 0.96% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 2.88% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.21% | 3.92% | +0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 6.37% | -1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.34% | 5.84% | -0.50% |
IBIK vs. TIPZ - Expense Ratio Comparison
IBIK has a 0.10% expense ratio, which is lower than TIPZ'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
IBIK vs. TIPZ - Dividend Comparison
IBIK's dividend yield for the trailing twelve months is around 3.73%, less than TIPZ's 5.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIK iShares iBonds Oct 2034 Term TIPS ETF | 3.73% | 4.43% | 2.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TIPZ PIMCO Broad US TIPS Index ETF | 5.11% | 4.74% | 4.44% | 4.69% | 7.14% | 4.41% | 1.47% | 1.65% | 2.23% | 1.70% | 1.06% | 0.56% |
Frequently Asked Questions
With a correlation of 0.95, IBIK and TIPZ 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.
IBIK has higher volatility (1.20%) compared to TIPZ (0.96%). In terms of maximum drawdown, IBIK dropped -5.59% vs TIPZ's -15.77%.
On 1-year performance, IBIK leads with 6.15% vs 5.12% for TIPZ. On fees, IBIK is cheaper at 0.10% per year. On volatility, TIPZ has been the lower-risk option at 0.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIK has performed better with a 6.15% return vs 5.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIK is cheaper with a 0.10% expense ratio, compared with 0.20% for TIPZ.
TIPZ has the higher dividend yield at 5.11%, compared with 3.73% for IBIK.
IBIK tracks iBonds Oct 2034 Term TIPS Index, while TIPZ tracks ICE BofA US Inflation-Linked Treasury. They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.10% for IBIK and 0.20% for TIPZ.
IBIK currently has the higher Sharpe Ratio (1.47 vs 1.31), 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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