PBTP vs. TDTT
PBTP (Invesco PureBeta 0-5 Yr US TIPS ETF) and TDTT (FlexShares iBoxx 3-Year Target Duration TIPS Index Fund) are both Inflation-Protected Bonds funds - PBTP tracks the ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y) while TDTT tracks the iBoxx 3-Year Target Duration TIPS. Both are passively managed. Over the past 5 years, PBTP returned 3.00%/yr vs 2.49%/yr for TDTT. Their correlation of 0.84 means they have usually moved in the same direction. PBTP charges 0.07%/yr vs 0.18%/yr for TDTT.
Performance
PBTP vs. TDTT - Performance Comparison
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Returns By Period
In the year-to-date period, PBTP achieves a 1.86% return, which is significantly higher than TDTT's 1.43% return.
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%
TDTT
- 1D
- -0.04%
- 1M
- 0.17%
- 6M
- 0.93%
- YTD
- 1.43%
- 1Y
- 2.56%
- 3Y*
- 4.92%
- 5Y*
- 2.49%
- 10Y*
- 3.05%
- ALL TIME*
- 2.20%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.49M | $1.29M | $1.24M | |
| $5.14M | $4.89M | $5.06M |
PBTP vs. TDTT - 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% |
TDTT FlexShares iBoxx 3-Year Target Duration TIPS Index Fund | 1.43% | 6.67% | 3.96% | 4.40% | -4.58% | 5.49% | 6.84% | 5.74% | 0.25% | -0.01% |
Correlation
The correlation between PBTP and TDTT is 0.83, 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. | 0.83 |
Correlation (3Y) Balances recent behavior with more history. | 0.89 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2017 | 0.84 |
The correlation between PBTP and TDTT shifts across timeframes, from 0.83 (1 year) to 0.93 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PBTP vs. TDTT — Risk / Return Rank
PBTP
TDTT
PBTP vs. TDTT - 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 FlexShares iBoxx 3-Year Target Duration TIPS Index Fund (TDTT). 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 | TDTT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.32 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 4.57 | 3.20 | +1.37 |
| Martin ratioReturn relative to average drawdown | 14.12 | 8.57 | +5.55 |
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Drawdowns
PBTP vs. TDTT - Drawdown Comparison
The maximum PBTP drawdown since its inception was -5.44%, smaller than the maximum TDTT drawdown of -6.97%. Use the drawdown chart below to compare losses from any high point for PBTP and TDTT.
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Drawdown Indicators
| PBTP | TDTT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.44% | -6.97% | +1.53% |
Max Drawdown (1Y)Largest decline over 1 year | -0.76% | -0.97% | +0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -1.03% | -1.53% | +0.50% |
Max Drawdown (5Y)Largest decline over 5 years | -5.44% | -6.97% | +1.53% |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.97% | — |
Current DrawdownCurrent decline from peak | -0.30% | -0.51% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -0.74% | -1.59% | +0.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.25% | 0.36% | -0.11% |
Volatility
PBTP vs. TDTT - Volatility Comparison
The current volatility for Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) is 0.38%, while FlexShares iBoxx 3-Year Target Duration TIPS Index Fund (TDTT) has a volatility of 0.54%. This indicates that PBTP experiences smaller price fluctuations and is considered to be less risky than TDTT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBTP | TDTT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.38% | 0.54% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 1.18% | 1.44% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.60% | 1.91% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.84% | 3.65% | -0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.63% | 3.38% | -0.75% |
PBTP vs. TDTT - Expense Ratio Comparison
PBTP has a 0.07% expense ratio, which is lower than TDTT's 0.18% 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. TDTT - Dividend Comparison
PBTP's dividend yield for the trailing twelve months is around 4.80%, less than TDTT's 5.14% 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% |
TDTT FlexShares iBoxx 3-Year Target Duration TIPS Index Fund | 4.81% | 4.52% | 4.01% | 3.88% | 6.97% | 4.53% | 1.15% | 1.91% | 2.48% | 1.88% | 1.01% |
Frequently Asked Questions
PBTP and TDTT have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TDTT has higher volatility (0.54%) compared to PBTP (0.38%). In terms of maximum drawdown, PBTP dropped -5.44% vs TDTT's -6.97%.
On 5-year performance, PBTP leads with 3.00% vs 2.49% for TDTT. On fees, PBTP is cheaper at 0.07% per year. On volatility, PBTP has been the lower-risk option at 0.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PBTP has performed better with a 3.00% return vs 2.49%. 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 0.18% for TDTT.
PBTP and TDTT have nearly identical dividend yields, around 4.80%.
PBTP tracks ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y), while TDTT tracks iBoxx 3-Year Target Duration TIPS. They also come from different issuers: Invesco and Northern Trust. Their fees differ too: 0.07% for PBTP and 0.18% for TDTT.
PBTP currently has the higher Sharpe Ratio (2.18 vs 1.64), 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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