PEX vs. IBIC
PEX (ProShares Global Listed Private Equity ETF) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - PEX is a Financials Equities fund tracking the LPX Direct Listed Private Equity Index, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, PEX returned -14.11% vs 4.38% for IBIC. At a 0.03 correlation, their price movements are largely independent. PEX charges 3.13%/yr vs 0.10%/yr for IBIC.
Performance
PEX vs. IBIC - Performance Comparison
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Returns By Period
In the year-to-date period, PEX achieves a -13.10% return, which is significantly lower than IBIC's 2.39% return.
PEX
- 1D
- -1.14%
- 1M
- -1.25%
- YTD
- -13.10%
- 6M
- -12.03%
- 1Y
- -14.11%
- 3Y*
- 3.98%
- 5Y*
- -0.97%
- 10Y*
- 4.70%
IBIC
- 1D
- 0.06%
- 1M
- 0.08%
- YTD
- 2.39%
- 6M
- 2.49%
- 1Y
- 4.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PEX vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PEX ProShares Global Listed Private Equity ETF | -13.10% | 0.21% | 13.05% | 9.49% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.39% | 4.96% | 5.25% | 2.17% |
Correlation
The correlation between PEX and IBIC is -0.10, 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 | -0.10 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | 0.03 |
The correlation between PEX and IBIC shifts across timeframes, from -0.10 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PEX vs. IBIC — Risk / Return Rank
PEX
IBIC
PEX vs. IBIC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Global Listed Private Equity ETF (PEX) 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.
| PEX | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.83 | ||
| Sortino ratioReturn per unit of downside risk | -10.07 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 2.21 | -1.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.57 | 16.41 | -16.99 |
| Martin ratioReturn relative to average drawdown | -1.09 | 58.11 | -59.20 |
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Drawdowns
PEX vs. IBIC - Drawdown Comparison
The maximum PEX drawdown since its inception was -49.17%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for PEX and IBIC.
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Drawdown Indicators
| PEX | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.17% | -0.90% | -48.27% |
Max Drawdown (1Y)Largest decline over 1 year | -24.72% | -0.27% | -24.45% |
Max Drawdown (3Y)Largest decline over 3 years | -24.72% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -36.58% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -49.17% | — | — |
Current DrawdownCurrent decline from peak | -21.46% | -0.11% | -21.35% |
Average DrawdownAverage peak-to-trough decline | -8.25% | -0.10% | -8.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.99% | 0.08% | +12.91% |
Volatility
PEX vs. IBIC - Volatility Comparison
ProShares Global Listed Private Equity ETF (PEX) has a higher volatility of 5.24% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.16%. This indicates that PEX'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
| PEX | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.24% | 0.16% | +5.08% |
Volatility (6M)Calculated over the trailing 6-month period | 13.46% | 0.67% | +12.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.95% | 0.89% | +15.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.99% | 1.57% | +16.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.44% | 1.57% | +17.87% |
PEX vs. IBIC - Expense Ratio Comparison
PEX has a 3.13% expense ratio, which is higher than IBIC's 0.10% expense ratio.
Dividends
PEX vs. IBIC - Dividend Comparison
PEX's dividend yield for the trailing twelve months is around 12.91%, more than IBIC's 3.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.59% | 4.43% | 4.65% | 0.83% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PEX ProShares Global Listed Private Equity ETF | 12.91% | 12.80% | 14.11% | 13.02% | 1.77% | 13.64% | 5.52% | 7.94% | 4.72% | 24.26% | 3.24% | 12.50% |
Frequently Asked Questions
PEX and IBIC have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PEX has higher volatility (5.24%) compared to IBIC (0.16%). In terms of maximum drawdown, PEX dropped -49.17% vs IBIC's -0.90%.
On 1-year performance, IBIC leads with 4.38% vs -14.11% for PEX. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIC has performed better with a 4.38% return vs -14.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC is cheaper with a 0.10% expense ratio, compared with 3.13% for PEX.
PEX has the higher dividend yield at 12.91%, compared with 3.59% for IBIC.
PEX is categorized as Financials Equities, while IBIC is Inflation-Protected Bonds. PEX tracks LPX Direct Listed Private Equity Index, while IBIC tracks ICE 2026 Maturity US Inflation-Linked Treasury Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 3.13% for PEX and 0.10% for IBIC.
IBIC currently has the higher Sharpe Ratio (4.94 vs -0.89), 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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