IBTI vs. TIP
IBTI (iShares iBonds Dec 2028 Term Treasury ETF) and TIP (iShares TIPS Bond ETF) are both exchange-traded funds - IBTI is a Government Bonds fund tracking the ICE 2028 Maturity US Treasury Index, while TIP is a Inflation-Protected Bonds fund tracking the Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L). Both are passively managed. Over the past 5 years, IBTI returned 0.19%/yr vs 0.97%/yr for TIP. A 0.69 correlation means they provide meaningful diversification when combined. IBTI charges 0.07%/yr vs 0.19%/yr for TIP.
Performance
IBTI vs. TIP - Performance Comparison
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Returns By Period
In the year-to-date period, IBTI achieves a 0.31% return, which is significantly lower than TIP's 1.54% return.
IBTI
- 1D
- -0.05%
- 1M
- 0.05%
- YTD
- 0.31%
- 6M
- 0.52%
- 1Y
- 3.59%
- 3Y*
- 3.72%
- 5Y*
- 0.19%
- 10Y*
- —
TIP
- 1D
- -0.18%
- 1M
- -0.09%
- YTD
- 1.54%
- 6M
- 1.06%
- 1Y
- 4.96%
- 3Y*
- 3.88%
- 5Y*
- 0.97%
- 10Y*
- 2.57%
IBTI vs. TIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBTI iShares iBonds Dec 2028 Term Treasury ETF | 0.31% | 6.15% | 2.52% | 4.65% | -11.32% | -3.50% | 3.65% |
TIP iShares TIPS Bond ETF | 1.54% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 7.53% |
Correlation
The correlation between IBTI and TIP is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2020 | 0.69 |
The correlation between IBTI and TIP shifts across timeframes, from 0.69 (all time) to 0.81 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBTI vs. TIP — Risk / Return Rank
IBTI
TIP
IBTI vs. TIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2028 Term Treasury ETF (IBTI) 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.
| IBTI | TIP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.05 | 1.46 | +0.59 |
Sortino ratioReturn per unit of downside risk | 3.37 | 2.24 | +1.13 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.26 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 3.28 | 2.52 | +0.76 |
Martin ratioReturn relative to average drawdown | 11.08 | 7.57 | +3.51 |
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
| IBTI | TIP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 1.46 | +0.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.16 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.45 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 0.57 | -0.53 |
Drawdowns
IBTI vs. TIP - Drawdown Comparison
The maximum IBTI drawdown since its inception was -18.45%, which is greater than TIP's maximum drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for IBTI and TIP.
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Drawdown Indicators
| IBTI | TIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.45% | -14.57% | -3.88% |
Max Drawdown (1Y)Largest decline over 1 year | -1.10% | -1.98% | +0.88% |
Max Drawdown (3Y)Largest decline over 3 years | -3.24% | -4.54% | +1.30% |
Max Drawdown (5Y)Largest decline over 5 years | -16.18% | -14.51% | -1.67% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.51% | — |
Current DrawdownCurrent decline from peak | -3.91% | -0.32% | -3.59% |
Average DrawdownAverage peak-to-trough decline | -8.26% | -3.43% | -4.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.32% | 0.66% | -0.34% |
Volatility
IBTI vs. TIP - Volatility Comparison
The current volatility for iShares iBonds Dec 2028 Term Treasury ETF (IBTI) is 0.37%, while iShares TIPS Bond ETF (TIP) has a volatility of 0.89%. This indicates that IBTI 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
| IBTI | TIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.37% | 0.89% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 1.06% | 2.29% | -1.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.76% | 3.41% | -1.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 6.21% | -1.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.17% | 5.74% | -0.57% |
IBTI vs. TIP - Expense Ratio Comparison
IBTI has a 0.07% expense ratio, which is lower than TIP's 0.19% 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
IBTI vs. TIP - Dividend Comparison
IBTI's dividend yield for the trailing twelve months is around 3.81%, more than TIP's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTI iShares iBonds Dec 2028 Term Treasury ETF | 3.81% | 3.87% | 3.92% | 3.27% | 1.70% | 0.90% | 0.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TIP iShares TIPS Bond ETF | 3.76% | 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
IBTI and TIP have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TIP has higher volatility (0.89%) compared to IBTI (0.37%). In terms of maximum drawdown, IBTI dropped -18.45% vs TIP's -14.57%.
On 5-year performance, TIP leads with 0.97% vs 0.19% for IBTI. On fees, IBTI is cheaper at 0.07% per year. On volatility, IBTI has been the lower-risk option at 0.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, TIP has performed better with a 0.97% return vs 0.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTI is cheaper with a 0.07% expense ratio, compared with 0.19% for TIP.
IBTI has the higher dividend yield at 3.81%, compared with 3.76% for TIP.
IBTI is categorized as Government Bonds, while TIP is Inflation-Protected Bonds. IBTI tracks ICE 2028 Maturity US Treasury Index, while TIP tracks Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L). Their fees differ too: 0.07% for IBTI and 0.19% for TIP.
IBTI currently has the higher Sharpe Ratio (2.05 vs 1.46), 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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