PBTP vs. STIP
PBTP (Invesco PureBeta 0-5 Yr US TIPS ETF) and STIP (iShares 0-5 Year TIPS Bond ETF) are both Inflation-Protected Bonds funds - PBTP tracks the ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y) while STIP tracks the Bloomberg US Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L). Both are passively managed. Over the past 5 years, PBTP returned 3.00%/yr vs 3.06%/yr for STIP. Their correlation of 0.88 means they have usually moved in the same direction. PBTP charges 0.07%/yr vs 0.06%/yr for STIP.
Performance
PBTP vs. STIP - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with PBTP having a 1.86% return and STIP slightly lower at 1.81%.
PBTP
- 1D
- -0.04%
- 1M
- 0.08%
- 6M
- 1.21%
- YTD
- 1.86%
- 1Y
- 3.00%
- 3Y*
- 5.11%
- 5Y*
- 3.00%
- 10Y*
- —
- ALL TIME*
- 3.33%
STIP
- 1D
- -0.05%
- 1M
- 0.13%
- 6M
- 1.26%
- YTD
- 1.81%
- 1Y
- 3.05%
- 3Y*
- 5.11%
- 5Y*
- 3.06%
- 10Y*
- 3.14%
- ALL TIME*
- 2.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.49M | $1.29M | $1.24M | |
| $80.85M | $78.77M | $101.18M |
PBTP vs. STIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 1.86% | 5.98% | 4.72% | 4.53% | -3.02% | 5.51% | 4.89% | 4.72% | 0.59% | 0.04% |
STIP iShares 0-5 Year TIPS Bond ETF | 1.81% | 6.03% | 4.77% | 4.63% | -3.02% | 5.68% | 5.18% | 4.89% | 0.54% | 0.16% |
Correlation
The correlation between PBTP and STIP is 0.90, 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. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2017 | 0.88 |
The correlation between PBTP and STIP has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.
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Return for Risk
PBTP vs. STIP — Risk / Return Rank
PBTP
STIP
PBTP vs. STIP - 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 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.
| PBTP | STIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.47 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.57 | 4.78 | -0.22 |
| Martin ratioReturn relative to average drawdown | 14.12 | 15.31 | -1.19 |
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Drawdowns
PBTP vs. STIP - Drawdown Comparison
The maximum PBTP drawdown since its inception was -5.44%, roughly equal to the maximum STIP drawdown of -5.50%. Use the drawdown chart below to compare losses from any high point for PBTP and STIP.
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Drawdown Indicators
| PBTP | STIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.44% | -5.50% | +0.06% |
Max Drawdown (1Y)Largest decline over 1 year | -0.76% | -0.73% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -1.03% | -0.95% | -0.08% |
Max Drawdown (5Y)Largest decline over 5 years | -5.44% | -5.50% | +0.06% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.50% | — |
Current DrawdownCurrent decline from peak | -0.30% | -0.25% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -0.74% | -0.99% | +0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.25% | 0.23% | +0.02% |
Volatility
PBTP vs. STIP - Volatility Comparison
Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) and iShares 0-5 Year TIPS Bond ETF (STIP) have volatilities of 0.38% and 0.38%, 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.
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Volatility by Period
| PBTP | STIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.38% | 0.38% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 1.18% | 1.17% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.60% | 1.52% | +0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.84% | 2.74% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.63% | 2.45% | +0.18% |
PBTP vs. STIP - Expense Ratio Comparison
PBTP has a 0.07% expense ratio, which is higher than STIP's 0.06% expense ratio. However, 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. STIP - Dividend Comparison
PBTP's dividend yield for the trailing twelve months is around 4.80%, less than STIP's 4.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 4.80% | 3.82% | 2.59% | 2.36% | 5.33% | 3.12% | 1.25% | 2.12% | 2.33% | 0.73% | 0.00% |
STIP iShares 0-5 Year TIPS Bond ETF | 4.60% | 4.11% | 2.62% | 2.84% | 6.04% | 4.15% | 1.40% | 2.06% | 2.44% | 1.59% | 0.89% |
Frequently Asked Questions
With a correlation of 0.90, PBTP and STIP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
STIP has higher volatility (0.38%) compared to PBTP (0.38%). In terms of maximum drawdown, PBTP dropped -5.44% vs STIP's -5.50%.
On 5-year performance, STIP leads with 3.06% vs 3.00% for PBTP. On fees, STIP is cheaper at 0.06% 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, STIP has performed better with a 3.06% return vs 3.00%. 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 0.07% for PBTP.
PBTP has the higher dividend yield at 4.80%, compared with 4.60% for STIP.
PBTP tracks ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y), while STIP tracks Bloomberg US Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L). They also come from different issuers: Invesco and iShares. Their fees differ too: 0.07% for PBTP and 0.06% for STIP.
STIP currently has the higher Sharpe Ratio (2.28 vs 2.18), 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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