PBTP vs. IGHG
PBTP (Invesco PureBeta 0-5 Yr US TIPS ETF) and IGHG (ProShares Investment Grade-Interest Rate Hedged) are both exchange-traded funds - PBTP is a Inflation-Protected Bonds fund tracking the ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y), while IGHG is a Corporate Bonds fund tracking the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index. Both are passively managed. Over the past 5 years, PBTP returned 3.22%/yr vs 5.18%/yr for IGHG. At a correlation of -0.01, they often move in opposite directions. PBTP charges 0.07%/yr vs 0.30%/yr for IGHG.
Performance
PBTP vs. IGHG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PBTP achieves a 1.42% return, which is significantly lower than IGHG's 2.08% return.
PBTP
- 1D
- -0.18%
- 1M
- -0.30%
- YTD
- 1.42%
- 6M
- 1.44%
- 1Y
- 3.62%
- 3Y*
- 4.97%
- 5Y*
- 3.22%
- 10Y*
- —
IGHG
- 1D
- 0.08%
- 1M
- -0.02%
- YTD
- 2.08%
- 6M
- 2.05%
- 1Y
- 5.77%
- 3Y*
- 8.31%
- 5Y*
- 5.18%
- 10Y*
- 4.83%
PBTP vs. IGHG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 1.42% | 5.98% | 4.72% | 4.53% | -3.02% | 5.51% | 4.89% | 4.72% | 0.59% | 0.04% |
IGHG ProShares Investment Grade-Interest Rate Hedged | 2.08% | 5.65% | 9.20% | 11.58% | -0.90% | 0.88% | 0.61% | 12.73% | -3.96% | 2.36% |
Correlation
The correlation between PBTP and IGHG is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2017 | -0.01 |
The correlation between PBTP and IGHG shifts across timeframes, from -0.18 (1 year) to -0.01 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PBTP vs. IGHG — Risk / Return Rank
PBTP
IGHG
PBTP vs. IGHG - 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 ProShares Investment Grade-Interest Rate Hedged (IGHG). 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 | IGHG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.32 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 4.98 | 3.31 | +1.67 |
| Martin ratioReturn relative to average drawdown | 17.63 | 11.69 | +5.94 |
Loading charts...
Drawdowns
PBTP vs. IGHG - Drawdown Comparison
The maximum PBTP drawdown since its inception was -5.44%, smaller than the maximum IGHG drawdown of -25.16%. Use the drawdown chart below to compare losses from any high point for PBTP and IGHG.
Loading charts...
Drawdown Indicators
| PBTP | IGHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.44% | -25.16% | +19.72% |
Max Drawdown (1Y)Largest decline over 1 year | -0.73% | -1.75% | +1.02% |
Max Drawdown (3Y)Largest decline over 3 years | -1.03% | -3.74% | +2.71% |
Max Drawdown (5Y)Largest decline over 5 years | -5.44% | -8.75% | +3.31% |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.16% | — |
Current DrawdownCurrent decline from peak | -0.73% | -0.25% | -0.48% |
Average DrawdownAverage peak-to-trough decline | -0.75% | -2.29% | +1.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.49% | -0.28% |
Volatility
PBTP vs. IGHG - Volatility Comparison
Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) and ProShares Investment Grade-Interest Rate Hedged (IGHG) have volatilities of 0.63% and 0.63%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PBTP | IGHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 0.63% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 1.17% | 2.48% | -1.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.62% | 3.41% | -1.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.85% | 5.02% | -2.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.64% | 7.46% | -4.82% |
PBTP vs. IGHG - Expense Ratio Comparison
PBTP has a 0.07% expense ratio, which is lower than IGHG's 0.30% expense ratio.
Dividends
PBTP vs. IGHG - Dividend Comparison
PBTP's dividend yield for the trailing twelve months is around 5.86%, more than IGHG's 5.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGHG ProShares Investment Grade-Interest Rate Hedged | 5.12% | 5.14% | 5.06% | 4.99% | 3.55% | 2.50% | 2.79% | 3.48% | 4.13% | 3.36% | 3.37% | 3.65% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
PBTP and IGHG have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGHG has higher volatility (0.63%) compared to PBTP (0.63%). In terms of maximum drawdown, PBTP dropped -5.44% vs IGHG's -25.16%.
On 5-year performance, IGHG leads with 5.18% vs 3.22% for PBTP. On fees, PBTP is cheaper at 0.07% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IGHG has performed better with a 5.18% return vs 3.22%. 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 0.30% for IGHG.
PBTP has the higher dividend yield at 5.86%, compared with 5.12% for IGHG.
PBTP is categorized as Inflation-Protected Bonds, while IGHG is Corporate Bonds. PBTP tracks ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y), while IGHG tracks Citi Corporate Investment Grade (Treasury Rate-Hedged) Index. They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.07% for PBTP and 0.30% for IGHG.
PBTP currently has the higher Sharpe Ratio (2.25 vs 1.70), 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.
Find the right allocation for PBTP and IGHG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer