PBTP vs. SPIP
Compare and contrast key facts about Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) and SPDR Portfolio TIPS ETF (SPIP).
PBTP and SPIP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PBTP is a passively managed fund by Invesco that tracks the performance of the ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y). It was launched on Sep 22, 2017. SPIP is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays US Government Inflation-linked Bond Index. It was launched on May 25, 2007. Both PBTP and SPIP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PBTP or SPIP.
Key characteristics
| PBTP | SPIP | |
|---|---|---|
| YTD Return | 0.78% | -0.97% |
| 1Y Return | 2.97% | -1.44% |
| 3Y Return (Ann) | 1.96% | -1.76% |
| 5Y Return (Ann) | 3.02% | 1.91% |
| Sharpe Ratio | 1.07 | -0.27 |
| Daily Std Dev | 2.55% | 6.68% |
| Max Drawdown | -5.42% | -15.39% |
| Current Drawdown | -0.22% | -11.62% |
Correlation
The correlation between PBTP and SPIP is 0.70, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
PBTP vs. SPIP - Performance Comparison
In the year-to-date period, PBTP achieves a 0.78% return, which is significantly higher than SPIP's -0.97% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PBTP vs. SPIP - Expense Ratio Comparison
PBTP has a 0.07% expense ratio, which is lower than SPIP's 0.12% 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%.
Risk-Adjusted Performance
PBTP vs. SPIP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) and SPDR Portfolio TIPS ETF (SPIP). 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.
Dividends
PBTP vs. SPIP - Dividend Comparison
PBTP's dividend yield for the trailing twelve months is around 2.44%, less than SPIP's 3.43% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 2.44% | 2.36% | 5.31% | 3.09% | 1.26% | 2.12% | 2.33% | 0.73% | 0.00% | 0.00% | 0.00% | 0.00% |
SPIP SPDR Portfolio TIPS ETF | 3.43% | 3.70% | 7.05% | 4.53% | 1.97% | 2.57% | 2.80% | 3.02% | 1.88% | 0.14% | 1.66% | 1.11% |
Drawdowns
PBTP vs. SPIP - Drawdown Comparison
The maximum PBTP drawdown since its inception was -5.42%, smaller than the maximum SPIP drawdown of -15.39%. Use the drawdown chart below to compare losses from any high point for PBTP and SPIP. For additional features, visit the drawdowns tool.
Volatility
PBTP vs. SPIP - Volatility Comparison
The current volatility for Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) is 0.55%, while SPDR Portfolio TIPS ETF (SPIP) has a volatility of 1.48%. This indicates that PBTP experiences smaller price fluctuations and is considered to be less risky than SPIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.