IVOL vs. STIP
IVOL (Quadratic Interest Rate Volatility & Inflation Hedge ETF) and STIP (iShares 0-5 Year TIPS Bond ETF) are both Inflation-Protected Bonds funds. IVOL is actively managed, while STIP is passively managed. Over the past 5 years, IVOL returned -5.77%/yr vs 3.37%/yr for STIP. A 0.54 correlation means they provide meaningful diversification when combined. IVOL charges 0.99%/yr vs 0.06%/yr for STIP.
Performance
IVOL vs. STIP - Performance Comparison
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Returns By Period
In the year-to-date period, IVOL achieves a -6.33% return, which is significantly lower than STIP's 2.04% return.
IVOL
- 1D
- -0.34%
- 1M
- -3.62%
- YTD
- -6.33%
- 6M
- -7.21%
- 1Y
- -5.59%
- 3Y*
- -3.54%
- 5Y*
- -5.77%
- 10Y*
- —
STIP
- 1D
- 0.00%
- 1M
- 0.03%
- YTD
- 2.04%
- 6M
- 2.03%
- 1Y
- 4.68%
- 3Y*
- 5.23%
- 5Y*
- 3.37%
- 10Y*
- 3.18%
IVOL vs. STIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | -6.33% | 11.97% | -11.07% | -5.18% | -12.69% | -0.31% | 14.56% | 3.23% |
STIP iShares 0-5 Year TIPS Bond ETF | 2.04% | 6.03% | 4.77% | 4.63% | -3.02% | 5.68% | 5.18% | 2.59% |
Correlation
The correlation between IVOL and STIP is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since May 15, 2019 | 0.54 |
The correlation between IVOL and STIP has been stable across timeframes, ranging from 0.52 to 0.62 - a consistent structural relationship.
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Return for Risk
IVOL vs. STIP — Risk / Return Rank
IVOL
STIP
IVOL vs. STIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) and iShares 0-5 Year TIPS Bond ETF (STIP). 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.
| IVOL | STIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.04 | ||
| Sortino ratioReturn per unit of downside risk | -6.73 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.69 | -0.82 |
| Calmar ratioReturn relative to maximum drawdown | -0.57 | 6.76 | -7.34 |
| Martin ratioReturn relative to average drawdown | -1.28 | 26.37 | -27.65 |
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
| IVOL | STIP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.81 | 3.23 | -4.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.45 | 1.23 | -1.68 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.30 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | 1.07 | -1.18 |
Drawdowns
IVOL vs. STIP - Drawdown Comparison
The maximum IVOL drawdown since its inception was -31.16%, which is greater than STIP's maximum drawdown of -5.50%. Use the drawdown chart below to compare losses from any high point for IVOL and STIP.
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Drawdown Indicators
| IVOL | STIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.16% | -5.50% | -25.66% |
Max Drawdown (1Y)Largest decline over 1 year | -9.81% | -0.69% | -9.12% |
Max Drawdown (3Y)Largest decline over 3 years | -16.63% | -0.95% | -15.68% |
Max Drawdown (5Y)Largest decline over 5 years | -30.62% | -5.50% | -25.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.50% | — |
Current DrawdownCurrent decline from peak | -26.33% | -0.03% | -26.30% |
Average DrawdownAverage peak-to-trough decline | -13.30% | -0.99% | -12.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.38% | 0.18% | +4.20% |
Volatility
IVOL vs. STIP - Volatility Comparison
Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) has a higher volatility of 1.07% compared to iShares 0-5 Year TIPS Bond ETF (STIP) at 0.40%. This indicates that IVOL's price experiences larger fluctuations and is considered to be riskier than STIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVOL | STIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 0.40% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 4.44% | 0.99% | +3.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.89% | 1.46% | +5.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.84% | 2.75% | +10.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.99% | 2.45% | +9.54% |
IVOL vs. STIP - Expense Ratio Comparison
IVOL has a 0.99% expense ratio, which is higher than STIP's 0.06% expense ratio.
Dividends
IVOL vs. STIP - Dividend Comparison
IVOL's dividend yield for the trailing twelve months is around 3.89%, less than STIP's 4.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | 3.89% | 3.61% | 3.83% | 3.73% | 3.92% | 3.93% | 3.44% | 2.02% | 0.00% | 0.00% | 0.00% |
STIP iShares 0-5 Year TIPS Bond ETF | 4.30% | 4.11% | 2.62% | 2.84% | 6.04% | 4.15% | 1.40% | 2.06% | 2.44% | 1.59% | 0.89% |
Frequently Asked Questions
IVOL and STIP have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVOL has higher volatility (1.07%) compared to STIP (0.40%). In terms of maximum drawdown, IVOL dropped -31.16% vs STIP's -5.50%.
On 5-year performance, STIP leads with 3.37% vs -5.77% for IVOL. On fees, STIP is cheaper at 0.06% per year. On volatility, STIP has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, STIP has performed better with a 3.37% return vs -5.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
STIP is cheaper with a 0.06% expense ratio, compared with 0.99% for IVOL.
STIP has the higher dividend yield at 4.30%, compared with 3.89% for IVOL.
They also come from different issuers: CICC and iShares. Their fees differ too: 0.99% for IVOL and 0.06% for STIP.
STIP currently has the higher Sharpe Ratio (3.23 vs -0.81), 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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