LTPZ vs. TIPZ
LTPZ (PIMCO 15+ Year U.S. TIPS Index ETF) and TIPZ (PIMCO Broad US TIPS Index ETF) are both Inflation-Protected Bonds funds from PIMCO - LTPZ tracks the ICE BofA US Inflation-Linked Treasury (15+ Y) while TIPZ tracks the ICE BofA US Inflation-Linked Treasury. Both are passively managed. Over the past 10 years, LTPZ returned -0.17%/yr vs 2.23%/yr for TIPZ. Their correlation of 0.88 means they have usually moved in the same direction. Both charge a 0.20% expense ratio.
Performance
LTPZ vs. TIPZ - Performance Comparison
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Returns By Period
In the year-to-date period, LTPZ achieves a -3.35% return, which is significantly lower than TIPZ's 1.56% return. Over the past 10 years, LTPZ has underperformed TIPZ with an annualized return of -0.17%, while TIPZ has yielded a comparatively higher 2.23% annualized return.
LTPZ
- 1D
- 0.42%
- 1M
- -3.33%
- 6M
- -2.92%
- YTD
- -3.35%
- 1Y
- -2.09%
- 3Y*
- -1.08%
- 5Y*
- -7.35%
- 10Y*
- -0.17%
- ALL TIME*
- 2.81%
TIPZ
- 1D
- 0.18%
- 1M
- -0.71%
- 6M
- 0.27%
- YTD
- 1.56%
- 1Y
- 1.81%
- 3Y*
- 3.66%
- 5Y*
- -0.08%
- 10Y*
- 2.23%
- ALL TIME*
- 2.97%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $12.67M | $8.82M | $7.84M | |
| $339.17K | $457.32K | $618.60K |
LTPZ vs. TIPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year U.S. TIPS Index ETF | -3.35% | 4.00% | -4.80% | 0.96% | -31.71% | 7.02% | 24.89% | 17.47% | -7.22% | 9.07% |
TIPZ PIMCO Broad US TIPS Index ETF | 1.56% | 5.87% | 1.52% | 3.37% | -12.67% | 5.48% | 10.98% | 8.64% | -1.65% | 3.12% |
Correlation
The correlation between LTPZ and TIPZ is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2009 | 0.88 |
The correlation between LTPZ and TIPZ has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.
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Return for Risk
LTPZ vs. TIPZ — Risk / Return Rank
LTPZ
TIPZ
LTPZ vs. TIPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO 15+ Year U.S. TIPS Index ETF (LTPZ) and PIMCO Broad US TIPS Index ETF (TIPZ). 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.
| LTPZ | TIPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -0.96 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.09 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | 0.83 | -1.09 |
| Martin ratioReturn relative to average drawdown | -0.54 | 2.32 | -2.86 |
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Drawdowns
LTPZ vs. TIPZ - Drawdown Comparison
The maximum LTPZ drawdown since its inception was -40.99%, which is greater than TIPZ's maximum drawdown of -15.77%. Use the drawdown chart below to compare losses from any high point for LTPZ and TIPZ.
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Drawdown Indicators
| LTPZ | TIPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.99% | -15.77% | -25.22% |
Max Drawdown (1Y)Largest decline over 1 year | -8.09% | -2.18% | -5.91% |
Max Drawdown (3Y)Largest decline over 3 years | -12.64% | -4.05% | -8.59% |
Max Drawdown (5Y)Largest decline over 5 years | -40.99% | -15.77% | -25.22% |
Max Drawdown (10Y)Largest decline over 10 years | -40.99% | -15.77% | -25.22% |
Current DrawdownCurrent decline from peak | -35.26% | -2.42% | -32.84% |
Average DrawdownAverage peak-to-trough decline | -12.61% | -4.31% | -8.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.89% | 0.78% | +3.11% |
Volatility
LTPZ vs. TIPZ - Volatility Comparison
PIMCO 15+ Year U.S. TIPS Index ETF (LTPZ) has a higher volatility of 2.08% compared to PIMCO Broad US TIPS Index ETF (TIPZ) at 0.74%. This indicates that LTPZ's price experiences larger fluctuations and is considered to be riskier than TIPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LTPZ | TIPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.08% | 0.74% | +1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 6.77% | 2.60% | +4.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.01% | 3.80% | +5.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.86% | 6.35% | +9.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.02% | 5.83% | +9.19% |
LTPZ vs. TIPZ - Expense Ratio Comparison
Both LTPZ and TIPZ have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
LTPZ vs. TIPZ - Dividend Comparison
LTPZ's dividend yield for the trailing twelve months is around 7.00%, more than TIPZ's 6.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year U.S. TIPS Index ETF | 7.00% | 4.64% | 3.71% | 3.71% | 8.38% | 3.56% | 1.42% | 1.74% | 3.05% | 2.25% | 2.32% | 0.71% |
TIPZ PIMCO Broad US TIPS Index ETF | 6.31% | 4.74% | 4.44% | 4.69% | 7.14% | 4.41% | 1.47% | 1.65% | 2.23% | 1.70% | 1.06% | 0.56% |
Frequently Asked Questions
LTPZ and TIPZ have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LTPZ has higher volatility (2.08%) compared to TIPZ (0.74%). In terms of maximum drawdown, LTPZ dropped -40.99% vs TIPZ's -15.77%.
On 10-year performance, TIPZ leads with 2.23% vs -0.17% for LTPZ. Both ETFs have the same 0.20% expense ratio. On volatility, TIPZ has been the lower-risk option at 0.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TIPZ has performed better with a 2.23% return vs -0.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LTPZ and TIPZ have the same expense ratio: 0.20% per year.
LTPZ has the higher dividend yield at 7.00%, compared with 6.31% for TIPZ.
LTPZ tracks ICE BofA US Inflation-Linked Treasury (15+ Y), while TIPZ tracks ICE BofA US Inflation-Linked Treasury.
TIPZ currently has the higher Sharpe Ratio (0.48 vs -0.23), 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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