IRVH vs. WIP
IRVH (Global X Interest Rate Volatility & Inflation Hedge ETF) and WIP (SPDR FTSE International Government Inflation-Protected Bond ETF) are both Inflation-Protected Bonds funds. IRVH is actively managed, while WIP is passively managed. Over the past 3 years, IRVH returned -0.70%/yr vs 5.09%/yr for WIP. At a 0.33 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.
Performance
IRVH vs. WIP - Performance Comparison
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Returns By Period
In the year-to-date period, IRVH achieves a -3.32% return, which is significantly lower than WIP's 4.57% return.
IRVH
- 1D
- -0.18%
- 1M
- -1.24%
- YTD
- -3.32%
- 6M
- -3.31%
- 1Y
- -1.82%
- 3Y*
- -0.70%
- 5Y*
- —
- 10Y*
- —
WIP
- 1D
- 0.25%
- 1M
- 0.45%
- YTD
- 4.57%
- 6M
- 5.30%
- 1Y
- 10.10%
- 3Y*
- 5.09%
- 5Y*
- -0.65%
- 10Y*
- 1.63%
IRVH vs. WIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IRVH Global X Interest Rate Volatility & Inflation Hedge ETF | -3.32% | 7.71% | -5.49% | 0.83% | -6.69% |
WIP SPDR FTSE International Government Inflation-Protected Bond ETF | 4.57% | 15.18% | -8.71% | 8.84% | -1.37% |
Correlation
The correlation between IRVH and WIP is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2022 | 0.33 |
Over the past year, the correlation between IRVH and WIP has dropped to 0.12 - well below their long-term average of 0.33, suggesting their price drivers have been diverging.
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Return for Risk
IRVH vs. WIP — Risk / Return Rank
IRVH
WIP
IRVH vs. WIP - 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 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.
| IRVH | WIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.53 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.20 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 1.97 | -2.34 |
| Martin ratioReturn relative to average drawdown | -0.77 | 5.89 | -6.66 |
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
| IRVH | WIP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.37 | 1.16 | -1.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.06 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.22 | 0.13 | -0.35 |
Drawdowns
IRVH vs. WIP - Drawdown Comparison
The maximum IRVH drawdown since its inception was -14.98%, smaller than the maximum WIP drawdown of -29.60%. Use the drawdown chart below to compare losses from any high point for IRVH and WIP.
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Drawdown Indicators
| IRVH | WIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.98% | -29.60% | +14.62% |
Max Drawdown (1Y)Largest decline over 1 year | -4.94% | -5.16% | +0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -8.03% | -11.16% | +3.13% |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.84% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.84% | — |
Current DrawdownCurrent decline from peak | -10.32% | -3.63% | -6.69% |
Average DrawdownAverage peak-to-trough decline | -9.72% | -8.58% | -1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | 1.72% | +0.63% |
Volatility
IRVH vs. WIP - Volatility Comparison
The current volatility for Global X Interest Rate Volatility & Inflation Hedge ETF (IRVH) is 0.71%, while SPDR FTSE International Government Inflation-Protected Bond ETF (WIP) has a volatility of 2.92%. This indicates that IRVH experiences smaller price fluctuations and is considered to be less risky than WIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IRVH | WIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 2.92% | -2.21% |
Volatility (6M)Calculated over the trailing 6-month period | 3.27% | 6.88% | -3.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.96% | 8.72% | -3.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.84% | 11.44% | -2.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.84% | 10.16% | -1.32% |
IRVH vs. WIP - Expense Ratio Comparison
Both IRVH and WIP have an expense ratio of 0.50%.
Dividends
IRVH vs. WIP - Dividend Comparison
IRVH's dividend yield for the trailing twelve months is around 5.56%, less than WIP's 5.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IRVH Global X Interest Rate Volatility & Inflation Hedge ETF | 5.56% | 4.89% | 3.34% | 3.69% | 2.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WIP SPDR FTSE International Government Inflation-Protected Bond ETF | 5.77% | 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
IRVH and WIP have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WIP has higher volatility (2.92%) compared to IRVH (0.71%). In terms of maximum drawdown, IRVH dropped -14.98% vs WIP's -29.60%.
On 3-year performance, WIP leads with 5.09% vs -0.70% for IRVH. Both ETFs have the same 0.50% expense ratio. On volatility, IRVH has been the lower-risk option at 0.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, WIP has performed better with a 5.09% return vs -0.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IRVH and WIP have the same expense ratio: 0.50% per year.
WIP has the higher dividend yield at 5.77%, compared with 5.56% for IRVH.
They also come from different issuers: Global X and State Street.
WIP currently has the higher Sharpe Ratio (1.16 vs -0.37), 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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