PBTP vs. IBID
PBTP (Invesco PureBeta 0-5 Yr US TIPS ETF) and IBID (iShares iBonds Oct 2027 Term TIPS ETF) are both Inflation-Protected Bonds funds - PBTP tracks the ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y) while IBID tracks the ICE 2027 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, PBTP returned 3.62% vs 4.04% for IBID. Their correlation of 0.81 suggests significant overlap in exposure. PBTP charges 0.07%/yr vs 0.10%/yr for IBID.
Performance
PBTP vs. IBID - Performance Comparison
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Returns By Period
In the year-to-date period, PBTP achieves a 1.42% return, which is significantly lower than IBID's 1.99% return.
PBTP
- 1D
- -0.18%
- 1M
- -0.30%
- YTD
- 1.42%
- 6M
- 1.44%
- 1Y
- 3.62%
- 3Y*
- 4.97%
- 5Y*
- 3.22%
- 10Y*
- —
IBID
- 1D
- 0.00%
- 1M
- -0.19%
- YTD
- 1.99%
- 6M
- 2.08%
- 1Y
- 4.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PBTP vs. IBID - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 1.42% | 5.98% | 4.72% | 2.08% |
IBID iShares iBonds Oct 2027 Term TIPS ETF | 1.99% | 5.66% | 4.71% | 2.61% |
Correlation
The correlation between PBTP and IBID is 0.62, 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 | 0.62 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | 0.81 |
The correlation between PBTP and IBID shifts across timeframes, from 0.62 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PBTP vs. IBID — Risk / Return Rank
PBTP
IBID
PBTP vs. IBID - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) and iShares iBonds Oct 2027 Term TIPS ETF (IBID). 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.
| PBTP | IBID | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.04 | ||
| Sortino ratioReturn per unit of downside risk | -2.10 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.75 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 4.98 | 8.22 | -3.24 |
| Martin ratioReturn relative to average drawdown | 17.63 | 30.99 | -13.37 |
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Drawdowns
PBTP vs. IBID - Drawdown Comparison
The maximum PBTP drawdown since its inception was -5.44%, which is greater than IBID's maximum drawdown of -1.28%. Use the drawdown chart below to compare losses from any high point for PBTP and IBID.
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Drawdown Indicators
| PBTP | IBID | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.44% | -1.28% | -4.16% |
Max Drawdown (1Y)Largest decline over 1 year | -0.73% | -0.49% | -0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -1.03% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -5.44% | — | — |
Current DrawdownCurrent decline from peak | -0.73% | -0.49% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -0.75% | -0.22% | -0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.13% | +0.08% |
Volatility
PBTP vs. IBID - Volatility Comparison
Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) has a higher volatility of 0.63% compared to iShares iBonds Oct 2027 Term TIPS ETF (IBID) at 0.35%. This indicates that PBTP's price experiences larger fluctuations and is considered to be riskier than IBID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBTP | IBID | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 0.35% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 1.17% | 0.86% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.62% | 1.23% | +0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.85% | 2.24% | +0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.64% | 2.24% | +0.40% |
PBTP vs. IBID - Expense Ratio Comparison
PBTP has a 0.07% expense ratio, which is lower than IBID's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PBTP vs. IBID - Dividend Comparison
PBTP's dividend yield for the trailing twelve months is around 5.86%, more than IBID's 3.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IBID iShares iBonds Oct 2027 Term TIPS ETF | 3.68% | 4.43% | 4.24% | 0.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 5.86% | 3.82% | 2.59% | 2.36% | 5.33% | 3.12% | 1.25% | 2.12% | 2.33% | 0.73% |
Frequently Asked Questions
PBTP and IBID have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBTP has higher volatility (0.63%) compared to IBID (0.35%). In terms of maximum drawdown, PBTP dropped -5.44% vs IBID's -1.28%.
On 1-year performance, IBID leads with 4.04% vs 3.62% for PBTP. On fees, PBTP is cheaper at 0.07% per year. On volatility, IBID has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBID has performed better with a 4.04% return vs 3.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PBTP is cheaper with a 0.07% expense ratio, compared with 0.10% for IBID.
PBTP has the higher dividend yield at 5.86%, compared with 3.68% for IBID.
PBTP tracks ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y), while IBID tracks ICE 2027 Maturity US Inflation-Linked Treasury Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.07% for PBTP and 0.10% for IBID.
IBID currently has the higher Sharpe Ratio (3.29 vs 2.25), 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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