IRVH vs. FIPDX

Last updated Aug 2, 2026

IRVH (Global X Interest Rate Volatility & Inflation Hedge ETF) and FIPDX (Fidelity Inflation-Protected Bond Index Fund) are both Inflation-Protected Bonds funds. IRVH is actively managed, while FIPDX is passively managed. Over the past 3 years, IRVH returned 0.11%/yr vs 3.66%/yr for FIPDX. Their 0.67 correlation means they have sometimes moved together and sometimes differently. IRVH charges 0.50%/yr vs 0.05%/yr for FIPDX.

Performance

IRVH vs. FIPDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Interest Rate Volatility & Inflation Hedge ETF (IRVH) and Fidelity Inflation-Protected Bond Index Fund (FIPDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IRVH achieves a -4.59% return, which is significantly lower than FIPDX's 0.55% return.

IRVH

• 1D: -0.11%
• 1M: -0.67%
• 6M: -4.04%
• YTD: -4.59%
• 1Y: -3.57%
• 3Y*: 0.11%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -2.19%

FIPDX

• 1D: -0.11%
• 1M: -0.44%
• 6M: 0.11%
• YTD: 0.55%
• 1Y: 2.01%
• 3Y*: 3.66%
• 5Y*: 0.31%
• 10Y*: 2.41%
• ALL TIME*: 2.16%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FIPDX Fidelity Inflation-Protected Bond Index Fund	$0.00	$0.00	$0.00
IRVH Global X Interest Rate Volatility & Inflation Hedge ETF	$471.52	$4.02K	$5.19K

IRVH vs. FIPDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IRVH Global X Interest Rate Volatility & Inflation Hedge ETF	-4.59%	7.71%	-5.49%	0.83%	-6.69%
FIPDX Fidelity Inflation-Protected Bond Index Fund	0.55%	6.90%	2.00%	3.77%	-4.65%

Correlation

The correlation between IRVH and FIPDX is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.57
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (All Time) Calculated using the full available price history since Jul 6, 2022	0.67

The correlation between IRVH and FIPDX has been stable across timeframes, ranging from 0.57 to 0.67 - a consistent structural relationship.

Return for Risk

IRVH vs. FIPDX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IRVH

IRVH Risk / Return Rank: 4
IRVH Sharpe Ratio Rank: 4
IRVH Sortino Ratio Rank: 4
IRVH Omega Ratio Rank: 4
IRVH Calmar Ratio Rank: 5
IRVH Martin Ratio Rank: 5

FIPDX

FIPDX Risk / Return Rank: 23
FIPDX Sharpe Ratio Rank: 21
FIPDX Sortino Ratio Rank: 21
FIPDX Omega Ratio Rank: 20
FIPDX Calmar Ratio Rank: 30
FIPDX Martin Ratio Rank: 25

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IRVH vs. FIPDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Interest Rate Volatility & Inflation Hedge ETF (IRVH) and Fidelity Inflation-Protected Bond Index Fund (FIPDX). 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.

	IRVH	FIPDX	Difference
Sharpe ratio: Return per unit of total volatility	-0.68	0.74	-1.43
Sortino ratio: Return per unit of downside risk	-0.92	1.09	-2.02
Omega ratio: Gain probability vs. loss probability	0.90	1.13	-0.24
Calmar ratio: Return relative to maximum drawdown	-0.49	1.27	-1.76
Martin ratio: Return relative to average drawdown	-0.97	3.38	-4.36

IRVH vs. FIPDX - Sharpe Ratio Comparison

The current IRVH Sharpe Ratio is -0.68, which is lower than the FIPDX Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of IRVH and FIPDX, 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

IRVH vs. FIPDX - Drawdown Comparison

The maximum IRVH drawdown since its inception was -14.98%, roughly equal to the maximum FIPDX drawdown of -14.32%. Use the drawdown chart below to compare losses from any high point for IRVH and FIPDX.

Drawdown Indicators

	IRVH	FIPDX	Difference
Max Drawdown Largest peak-to-trough decline	-14.98%	-14.32%	-0.66%
Max Drawdown (1Y) Largest decline over 1 year	-6.48%	-1.94%	-4.54%
Max Drawdown (3Y) Largest decline over 3 years	-8.03%	-3.95%	-4.08%
Max Drawdown (5Y) Largest decline over 5 years	—	-14.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-14.32%	—
Current Drawdown Current decline from peak	-11.49%	-1.19%	-10.30%
Average Drawdown Average peak-to-trough decline	-9.76%	-4.43%	-5.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	0.73%	+2.53%

Volatility

IRVH vs. FIPDX - Volatility Comparison

Global X Interest Rate Volatility & Inflation Hedge ETF (IRVH) has a higher volatility of 0.88% compared to Fidelity Inflation-Protected Bond Index Fund (FIPDX) at 0.76%. This indicates that IRVH's price experiences larger fluctuations and is considered to be riskier than FIPDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IRVH	FIPDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.88%	0.76%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	3.18%	2.49%	+0.69%
Volatility (1Y) Calculated over the trailing 1-year period	4.66%	3.33%	+1.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.70%	5.96%	+2.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.70%	5.36%	+3.34%

IRVH vs. FIPDX - Expense Ratio Comparison

IRVH has a 0.50% expense ratio, which is higher than FIPDX's 0.05% expense ratio.

Dividends

IRVH vs. FIPDX - Dividend Comparison

IRVH's dividend yield for the trailing twelve months is around 5.68%, more than FIPDX's 4.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIPDX Fidelity Inflation-Protected Bond Index Fund	4.36%	4.18%	3.75%	3.56%	8.87%	4.76%	1.24%	1.97%	2.26%	1.29%	1.34%	0.38%
IRVH Global X Interest Rate Volatility & Inflation Hedge ETF	5.31%	4.89%	3.34%	3.69%	2.73%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IRVH and FIPDX in my portfolio?

IRVH and FIPDX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IRVH or FIPDX?

IRVH has higher volatility (0.88%) compared to FIPDX (0.76%). In terms of maximum drawdown, IRVH dropped -14.98% vs FIPDX's -14.32%.

Which has better risk-adjusted returns?

FIPDX currently has the higher Sharpe Ratio (0.74 vs -0.68), 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.