PEPS vs. IBIC
PEPS (Parametric Equity Plus ETF) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - PEPS is a Derivative Income fund actively managed by Parametric, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. PEPS is actively managed, while IBIC is passively managed. Over the past year, PEPS returned 26.19% vs 4.42% for IBIC. At a correlation of -0.23, they often move in opposite directions. Both charge a 0.10% expense ratio.
Performance
PEPS vs. IBIC - Performance Comparison
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Returns By Period
In the year-to-date period, PEPS achieves a 7.86% return, which is significantly higher than IBIC's 2.43% return.
PEPS
- 1D
- -1.38%
- 1M
- -0.55%
- YTD
- 7.86%
- 6M
- 7.03%
- 1Y
- 26.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIC
- 1D
- 0.04%
- 1M
- 0.12%
- YTD
- 2.43%
- 6M
- 2.57%
- 1Y
- 4.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PEPS vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PEPS Parametric Equity Plus ETF | 7.86% | 20.32% | -1.42% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.43% | 4.96% | 0.45% |
Correlation
The correlation between PEPS and IBIC is -0.20, 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 | -0.20 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2024 | -0.23 |
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Return for Risk
PEPS vs. IBIC — Risk / Return Rank
PEPS
IBIC
PEPS vs. IBIC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Parametric Equity Plus ETF (PEPS) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). 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.
| PEPS | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.08 | ||
| Sortino ratioReturn per unit of downside risk | -6.45 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 2.22 | -0.88 |
| Calmar ratioReturn relative to maximum drawdown | 2.69 | 16.56 | -13.88 |
| Martin ratioReturn relative to average drawdown | 12.10 | 58.67 | -46.58 |
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Drawdowns
PEPS vs. IBIC - Drawdown Comparison
The maximum PEPS drawdown since its inception was -21.26%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for PEPS and IBIC.
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Drawdown Indicators
| PEPS | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.26% | -0.90% | -20.36% |
Max Drawdown (1Y)Largest decline over 1 year | -9.80% | -0.27% | -9.53% |
Current DrawdownCurrent decline from peak | -3.04% | -0.08% | -2.96% |
Average DrawdownAverage peak-to-trough decline | -2.75% | -0.10% | -2.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.17% | 0.08% | +2.09% |
Volatility
PEPS vs. IBIC - Volatility Comparison
Parametric Equity Plus ETF (PEPS) has a higher volatility of 5.38% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.17%. This indicates that PEPS's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PEPS | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.38% | 0.17% | +5.21% |
Volatility (6M)Calculated over the trailing 6-month period | 10.82% | 0.67% | +10.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.80% | 0.89% | +12.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.43% | 1.56% | +16.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.43% | 1.56% | +16.87% |
PEPS vs. IBIC - Expense Ratio Comparison
Both PEPS and IBIC have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
PEPS vs. IBIC - Dividend Comparison
PEPS's dividend yield for the trailing twelve months is around 0.95%, less than IBIC's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.58% | 4.43% | 4.65% | 0.83% |
PEPS Parametric Equity Plus ETF | 0.95% | 1.00% | 0.17% | 0.00% |
Frequently Asked Questions
PEPS and IBIC have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PEPS has higher volatility (5.38%) compared to IBIC (0.17%). In terms of maximum drawdown, PEPS dropped -21.26% vs IBIC's -0.90%.
On 1-year performance, PEPS leads with 26.19% vs 4.42% for IBIC. Both ETFs have the same 0.10% expense ratio. On volatility, IBIC has been the lower-risk option at 0.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PEPS has performed better with a 26.19% return vs 4.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PEPS and IBIC have the same expense ratio: 0.10% per year.
IBIC has the higher dividend yield at 3.58%, compared with 0.95% for PEPS.
PEPS is categorized as Derivative Income, while IBIC is Inflation-Protected Bonds. They also come from different issuers: Parametric and iShares.
IBIC currently has the higher Sharpe Ratio (4.99 vs 1.91), 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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