ICPI vs. WIP
ICPI (iShares 0-1 Year TIPS Bond ETF) and WIP (SPDR FTSE International Government Inflation-Protected Bond ETF) are both Inflation-Protected Bonds funds - ICPI tracks the ICE U.S. Treasury 0-1 Year Inflation Linked Bond Index while WIP tracks the FTSE International Inflation-Linked Securities Select (USD). Both are passively managed. At a correlation of -0.32, they often move in opposite directions. ICPI charges 0.09%/yr vs 0.50%/yr for WIP.
Performance
ICPI vs. WIP - Performance Comparison
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Returns By Period
In the year-to-date period, ICPI achieves a 2.42% return, which is significantly higher than WIP's 2.12% return.
ICPI
- 1D
- -0.06%
- 1M
- -0.07%
- YTD
- 2.42%
- 6M
- 2.46%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
WIP
- 1D
- -0.13%
- 1M
- -1.76%
- YTD
- 2.12%
- 6M
- 2.09%
- 1Y
- 5.21%
- 3Y*
- 3.88%
- 5Y*
- -0.65%
- 10Y*
- 1.38%
ICPI vs. WIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ICPI iShares 0-1 Year TIPS Bond ETF | 2.42% | 0.32% |
WIP SPDR FTSE International Government Inflation-Protected Bond ETF | 2.12% | 2.35% |
Correlation
The correlation between ICPI and WIP is -0.32, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025 | -0.32 |
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Return for Risk
ICPI vs. WIP — Risk / Return Rank
ICPI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
WIP
ICPI vs. WIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-1 Year TIPS Bond ETF (ICPI) and SPDR FTSE International Government Inflation-Protected Bond ETF (WIP). 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.
| ICPI | WIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.10 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.01 | — |
| Martin ratioReturn relative to average drawdown | — | 2.95 | — |
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Drawdowns
ICPI vs. WIP - Drawdown Comparison
The maximum ICPI drawdown since its inception was -0.34%, smaller than the maximum WIP drawdown of -29.60%. Use the drawdown chart below to compare losses from any high point for ICPI and WIP.
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Drawdown Indicators
| ICPI | WIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.34% | -29.60% | +29.26% |
Max Drawdown (1Y)Largest decline over 1 year | — | -5.16% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.16% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.66% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.84% | — |
Current DrawdownCurrent decline from peak | -0.34% | -5.88% | +5.54% |
Average DrawdownAverage peak-to-trough decline | -0.04% | -8.57% | +8.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.77% | — |
Volatility
ICPI vs. WIP - Volatility Comparison
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Volatility by Period
| ICPI | WIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.60% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 7.03% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.96% | 8.73% | -7.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.96% | 11.45% | -10.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.96% | 10.15% | -9.19% |
ICPI vs. WIP - Expense Ratio Comparison
ICPI has a 0.09% expense ratio, which is lower than WIP's 0.50% expense ratio.
Dividends
ICPI vs. WIP - Dividend Comparison
ICPI's dividend yield for the trailing twelve months is around 1.80%, less than WIP's 5.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICPI iShares 0-1 Year TIPS Bond ETF | 1.80% | 0.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WIP SPDR FTSE International Government Inflation-Protected Bond ETF | 5.91% | 5.51% | 6.06% | 6.54% | 11.15% | 4.63% | 1.59% | 2.49% | 4.05% | 1.91% | 1.27% | 1.14% |
Frequently Asked Questions
ICPI and WIP have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICPI is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICPI is cheaper with a 0.09% expense ratio, compared with 0.50% for WIP.
WIP has the higher dividend yield at 5.91%, compared with 1.80% for ICPI.
ICPI tracks ICE U.S. Treasury 0-1 Year Inflation Linked Bond Index, while WIP tracks FTSE International Inflation-Linked Securities Select (USD). They also come from different issuers: iShares and State Street. Their fees differ too: 0.09% for ICPI and 0.50% for WIP.
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