PPIE vs. IBIC

Last updated Jun 24, 2026

PPIE (Putnam Panagora ESG International Equity ETF -) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - PPIE is a Foreign Large Cap Equities fund actively managed by Putnam, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. PPIE is actively managed, while IBIC is passively managed. Over the past year, PPIE returned 21.66% vs 4.42% for IBIC. At a 0.04 correlation, their price movements are largely independent. PPIE charges 0.49%/yr vs 0.10%/yr for IBIC.

Performance

PPIE vs. IBIC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Panagora ESG International Equity ETF - (PPIE) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PPIE achieves a 8.31% return, which is significantly higher than IBIC's 2.43% return.

PPIE

• 1D: 0.02%
• 1M: 0.47%
• YTD: 8.31%
• 6M: 8.34%
• 1Y: 21.66%
• 3Y*: 18.34%
• 5Y*: —
• 10Y*: —

IBIC

• 1D: 0.04%
• 1M: 0.12%
• YTD: 2.43%
• 6M: 2.57%
• 1Y: 4.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PPIE vs. IBIC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PPIE Putnam Panagora ESG International Equity ETF -	8.31%	32.77%	7.67%	6.67%
IBIC iShares iBonds Oct 2026 Term TIPS ETF	2.43%	4.96%	5.25%	2.17%

Correlation

The correlation between PPIE and IBIC is -0.16, 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	-0.16
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023	0.04

The correlation between PPIE and IBIC shifts across timeframes, from -0.16 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PPIE vs. IBIC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PPIE

PPIE Risk / Return Rank: 39
PPIE Sharpe Ratio Rank: 40
PPIE Sortino Ratio Rank: 39
PPIE Omega Ratio Rank: 39
PPIE Calmar Ratio Rank: 36
PPIE Martin Ratio Rank: 41

IBIC

IBIC Risk / Return Rank: 98
IBIC Sharpe Ratio Rank: 98
IBIC Sortino Ratio Rank: 98
IBIC Omega Ratio Rank: 98
IBIC Calmar Ratio Rank: 98
IBIC Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PPIE vs. IBIC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Panagora ESG International Equity ETF - (PPIE) 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.

	PPIE	IBIC	Difference
Sharpe ratio: Return per unit of total volatility	1.31	4.99	-3.68
Sortino ratio: Return per unit of downside risk	1.88	8.97	-7.09
Omega ratio: Gain probability vs. loss probability	1.24	2.22	-0.98
Calmar ratio: Return relative to maximum drawdown	1.66	16.56	-14.91
Martin ratio: Return relative to average drawdown	6.12	58.67	-52.55

PPIE vs. IBIC - Sharpe Ratio Comparison

The current PPIE Sharpe Ratio is 1.31, which is lower than the IBIC Sharpe Ratio of 4.99. The chart below compares the historical Sharpe Ratios of PPIE and IBIC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PPIE vs. IBIC - Drawdown Comparison

The maximum PPIE drawdown since its inception was -13.55%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for PPIE and IBIC.

Drawdown Indicators

	PPIE	IBIC	Difference
Max Drawdown Largest peak-to-trough decline	-13.55%	-0.90%	-12.65%
Max Drawdown (1Y) Largest decline over 1 year	-12.00%	-0.27%	-11.73%
Max Drawdown (3Y) Largest decline over 3 years	-13.55%	—	—
Current Drawdown Current decline from peak	-0.75%	-0.08%	-0.67%
Average Drawdown Average peak-to-trough decline	-2.50%	-0.10%	-2.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	0.08%	+3.16%

Volatility

PPIE vs. IBIC - Volatility Comparison

Putnam Panagora ESG International Equity ETF - (PPIE) has a higher volatility of 3.00% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.17%. This indicates that PPIE'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.

Volatility by Period

	PPIE	IBIC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.00%	0.17%	+2.83%
Volatility (6M) Calculated over the trailing 6-month period	12.30%	0.67%	+11.63%
Volatility (1Y) Calculated over the trailing 1-year period	15.22%	0.89%	+14.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.78%	1.56%	+13.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.78%	1.56%	+13.22%

PPIE vs. IBIC - Expense Ratio Comparison

PPIE has a 0.49% expense ratio, which is higher than IBIC's 0.10% expense ratio.

Dividends

PPIE vs. IBIC - Dividend Comparison

PPIE's dividend yield for the trailing twelve months is around 12.06%, more 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%
PPIE Putnam Panagora ESG International Equity ETF -	12.06%	8.40%	5.12%	3.30%

Frequently Asked Questions

Can I hold both PPIE and IBIC in my portfolio?

PPIE and IBIC have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PPIE or IBIC?

PPIE has higher volatility (3.00%) compared to IBIC (0.17%). In terms of maximum drawdown, PPIE dropped -13.55% vs IBIC's -0.90%.

Which ETF is better, PPIE or IBIC?

On 1-year performance, PPIE leads with 21.66% vs 4.42% for IBIC. On fees, IBIC is cheaper at 0.10% per year. 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.

Which ETF has performed better, PPIE or IBIC?

Over the 1-year period, PPIE has performed better with a 21.66% return vs 4.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PPIE or IBIC?

IBIC is cheaper with a 0.10% expense ratio, compared with 0.49% for PPIE.

Which ETF pays a higher dividend yield, PPIE or IBIC?

PPIE has the higher dividend yield at 12.06%, compared with 3.58% for IBIC.

What is the main difference between PPIE and IBIC?

PPIE is categorized as Foreign Large Cap Equities, while IBIC is Inflation-Protected Bonds. They also come from different issuers: Putnam and iShares. Their fees differ too: 0.49% for PPIE and 0.10% for IBIC.

Which has better risk-adjusted returns?

IBIC currently has the higher Sharpe Ratio (4.99 vs 1.31), 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.