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 -5.63%/yr vs 3.28%/yr for STIP. A 0.55 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 -8.37% return, which is significantly lower than STIP's 1.34% return.
IVOL
- 1D
- 0.35%
- 1M
- -3.04%
- YTD
- -8.37%
- 6M
- -7.51%
- 1Y
- -7.39%
- 3Y*
- -2.64%
- 5Y*
- -5.63%
- 10Y*
- —
STIP
- 1D
- 0.01%
- 1M
- -0.29%
- YTD
- 1.34%
- 6M
- 1.51%
- 1Y
- 3.58%
- 3Y*
- 4.99%
- 5Y*
- 3.28%
- 10Y*
- 3.07%
IVOL vs. STIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | -8.37% | 11.97% | -11.07% | -5.18% | -12.69% | -0.31% | 14.56% | 3.35% |
STIP iShares 0-5 Year TIPS Bond ETF | 1.34% | 6.03% | 4.77% | 4.63% | -3.02% | 5.68% | 5.18% | 2.66% |
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 | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since May 14, 2019 | 0.55 |
The correlation between IVOL and STIP has been stable across timeframes, ranging from 0.52 to 0.61 - 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.
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.
| IVOL | STIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.40 | ||
| Sortino ratioReturn per unit of downside risk | -5.14 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.48 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | -0.61 | 4.96 | -5.57 |
| Martin ratioReturn relative to average drawdown | -1.48 | 18.20 | -19.68 |
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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 | -12.08% | -0.73% | -11.35% |
Max Drawdown (3Y)Largest decline over 3 years | -14.48% | -0.95% | -13.53% |
Max Drawdown (5Y)Largest decline over 5 years | -30.28% | -5.50% | -24.78% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.50% | — |
Current DrawdownCurrent decline from peak | -27.94% | -0.72% | -27.22% |
Average DrawdownAverage peak-to-trough decline | -13.39% | -0.99% | -12.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.99% | 0.20% | +4.79% |
Volatility
IVOL vs. STIP - Volatility Comparison
Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) has a higher volatility of 2.57% compared to iShares 0-5 Year TIPS Bond ETF (STIP) at 0.64%. 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 | 2.57% | 0.64% | +1.93% |
Volatility (6M)Calculated over the trailing 6-month period | 4.97% | 1.14% | +3.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.05% | 1.53% | +5.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.85% | 2.74% | +10.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.98% | 2.46% | +9.52% |
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 3.98%, less than STIP's 4.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | 3.98% | 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 | 4.33% | 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 (2.57%) compared to STIP (0.64%). In terms of maximum drawdown, IVOL dropped -31.16% vs STIP's -5.50%.
On 5-year performance, STIP leads with 3.28% vs -5.63% for IVOL. On fees, STIP is cheaper at 0.06% per year. On volatility, STIP has been the lower-risk option at 0.64%. 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 3.28% return vs -5.63%. 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 4.33%, compared with 3.98% 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 (2.34 vs -1.05), 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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