PBTP vs. STIP
Compare and contrast key facts about Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) and iShares 0-5 Year TIPS Bond ETF (STIP).
PBTP and STIP 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. STIP is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L). It was launched on Dec 1, 2010. Both PBTP and STIP 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 STIP.
Key characteristics
| PBTP | STIP | |
|---|---|---|
| YTD Return | 0.80% | 0.82% |
| 1Y Return | 2.60% | 2.68% |
| 3Y Return (Ann) | 2.00% | 2.08% |
| 5Y Return (Ann) | 3.03% | 3.16% |
| Sharpe Ratio | 1.12 | 1.18 |
| Daily Std Dev | 2.56% | 2.52% |
| Max Drawdown | -5.42% | -5.50% |
| Current Drawdown | -0.20% | -0.18% |
Correlation
The correlation between PBTP and STIP is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
PBTP vs. STIP - Performance Comparison
The year-to-date returns for both investments are quite close, with PBTP having a 0.80% return and STIP slightly higher at 0.82%. 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. 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%.
Risk-Adjusted Performance
PBTP vs. STIP - 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 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.
Dividends
PBTP vs. STIP - Dividend Comparison
PBTP's dividend yield for the trailing twelve months is around 2.43%, less than STIP's 2.70% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 2.43% | 2.36% | 5.31% | 3.09% | 1.26% | 2.12% | 2.33% | 0.73% | 0.00% | 0.00% | 0.00% | 0.00% |
STIP iShares 0-5 Year TIPS Bond ETF | 2.70% | 2.84% | 6.04% | 4.15% | 1.40% | 2.06% | 2.44% | 1.59% | 0.89% | 0.00% | 0.74% | 0.31% |
Drawdowns
PBTP vs. STIP - Drawdown Comparison
The maximum PBTP drawdown since its inception was -5.42%, 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. For additional features, visit the drawdowns tool.
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 0.56% and 0.57%, 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.