IRVH vs. IBIE

Last updated Jun 23, 2026

IRVH (Global X Interest Rate Volatility & Inflation Hedge ETF) and IBIE (iShares iBonds Oct 2028 Term TIPS ETF) are both Inflation-Protected Bonds funds. IRVH is actively managed, while IBIE is passively managed. Over the past year, IRVH returned -2.13% vs 3.69% for IBIE. A 0.58 correlation means they provide meaningful diversification when combined. IRVH charges 0.50%/yr vs 0.10%/yr for IBIE.

Performance

IRVH vs. IBIE - 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 iShares iBonds Oct 2028 Term TIPS ETF (IBIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IRVH achieves a -4.36% return, which is significantly lower than IBIE's 1.39% return.

IRVH

• 1D: -0.36%
• 1M: -1.18%
• YTD: -4.36%
• 6M: -4.00%
• 1Y: -2.13%
• 3Y*: 0.01%
• 5Y*: —
• 10Y*: —

IBIE

• 1D: -0.17%
• 1M: -0.25%
• YTD: 1.39%
• 6M: 1.45%
• 1Y: 3.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IRVH vs. IBIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IRVH Global X Interest Rate Volatility & Inflation Hedge ETF	-4.36%	7.71%	-5.49%	4.31%
IBIE iShares iBonds Oct 2028 Term TIPS ETF	1.39%	6.46%	3.95%	2.93%

Correlation

The correlation between IRVH and IBIE is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023	0.58

The correlation between IRVH and IBIE shifts across timeframes, from 0.46 (1 year) to 0.58 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IRVH vs. IBIE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IRVH

IRVH Risk / Return Rank: 5
IRVH Sharpe Ratio Rank: 5
IRVH Sortino Ratio Rank: 5
IRVH Omega Ratio Rank: 5
IRVH Calmar Ratio Rank: 6
IRVH Martin Ratio Rank: 5

IBIE

IBIE Risk / Return Rank: 86
IBIE Sharpe Ratio Rank: 76
IBIE Sortino Ratio Rank: 89
IBIE Omega Ratio Rank: 85
IBIE Calmar Ratio Rank: 90
IBIE Martin Ratio Rank: 88

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IRVH vs. IBIE - 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 iShares iBonds Oct 2028 Term TIPS ETF (IBIE). 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	IBIE	Difference
Sharpe ratio: Return per unit of total volatility	-0.44	2.32	-2.76
Sortino ratio: Return per unit of downside risk	-0.59	3.93	-4.52
Omega ratio: Gain probability vs. loss probability	0.93	1.49	-0.56
Calmar ratio: Return relative to maximum drawdown	-0.36	5.30	-5.66
Martin ratio: Return relative to average drawdown	-0.82	18.77	-19.59

IRVH vs. IBIE - Sharpe Ratio Comparison

The current IRVH Sharpe Ratio is -0.44, which is lower than the IBIE Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of IRVH and IBIE, 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. IBIE - Drawdown Comparison

The maximum IRVH drawdown since its inception was -14.98%, which is greater than IBIE's maximum drawdown of -1.70%. Use the drawdown chart below to compare losses from any high point for IRVH and IBIE.

Drawdown Indicators

	IRVH	IBIE	Difference
Max Drawdown Largest peak-to-trough decline	-14.98%	-1.70%	-13.28%
Max Drawdown (1Y) Largest decline over 1 year	-5.96%	-0.70%	-5.26%
Max Drawdown (3Y) Largest decline over 3 years	-8.03%	—	—
Current Drawdown Current decline from peak	-11.28%	-0.70%	-10.58%
Average Drawdown Average peak-to-trough decline	-9.72%	-0.39%	-9.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	0.20%	+2.40%

Volatility

IRVH vs. IBIE - Volatility Comparison

Global X Interest Rate Volatility & Inflation Hedge ETF (IRVH) has a higher volatility of 1.09% compared to iShares iBonds Oct 2028 Term TIPS ETF (IBIE) at 0.58%. This indicates that IRVH's price experiences larger fluctuations and is considered to be riskier than IBIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IRVH	IBIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.09%	0.58%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	3.35%	1.08%	+2.27%
Volatility (1Y) Calculated over the trailing 1-year period	4.85%	1.60%	+3.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.80%	2.85%	+5.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.80%	2.85%	+5.95%

IRVH vs. IBIE - Expense Ratio Comparison

IRVH has a 0.50% expense ratio, which is higher than IBIE's 0.10% expense ratio.

Dividends

IRVH vs. IBIE - Dividend Comparison

IRVH's dividend yield for the trailing twelve months is around 5.62%, more than IBIE's 3.27% yield.

Position	TTM	2025	2024	2023	2022
IBIE iShares iBonds Oct 2028 Term TIPS ETF	3.27%	4.09%	4.23%	0.75%	0.00%
IRVH Global X Interest Rate Volatility & Inflation Hedge ETF	5.62%	4.89%	3.34%	3.69%	2.73%

Frequently Asked Questions

Can I hold both IRVH and IBIE in my portfolio?

IRVH and IBIE have a correlation of 0.46, 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 IBIE?

IRVH has higher volatility (1.09%) compared to IBIE (0.58%). In terms of maximum drawdown, IRVH dropped -14.98% vs IBIE's -1.70%.

Which ETF is better, IRVH or IBIE?

On 1-year performance, IBIE leads with 3.69% vs -2.13% for IRVH. On fees, IBIE is cheaper at 0.10% per year. On volatility, IBIE has been the lower-risk option at 0.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IRVH or IBIE?

Over the 1-year period, IBIE has performed better with a 3.69% return vs -2.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IRVH or IBIE?

IBIE is cheaper with a 0.10% expense ratio, compared with 0.50% for IRVH.

Which ETF pays a higher dividend yield, IRVH or IBIE?

IRVH has the higher dividend yield at 5.62%, compared with 3.27% for IBIE.

What is the main difference between IRVH and IBIE?

They also come from different issuers: Global X and iShares. Their fees differ too: 0.50% for IRVH and 0.10% for IBIE.

Which has better risk-adjusted returns?

IBIE currently has the higher Sharpe Ratio (2.32 vs -0.44), 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.