PSK vs. LTPZ
PSK (SPDR ICE Preferred Securities ETF) and LTPZ (PIMCO 15+ Year U.S. TIPS Index ETF) are both exchange-traded funds - PSK is a Preferred Stock fund tracking the PSK-US - ICE Exchange-Listed Fixed& Adjustable Rate Preferred Securities Index, while LTPZ is a Inflation-Protected Bonds fund tracking the ICE BofA US Inflation-Linked Treasury (15+ Y). Both are passively managed. Over the past 10 years, PSK returned 1.86%/yr vs -0.06%/yr for LTPZ. Their 0.19 correlation means their historical movements had little consistent relationship. PSK charges 0.45%/yr vs 0.20%/yr for LTPZ.
Performance
PSK vs. LTPZ - Performance Comparison
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Returns By Period
In the year-to-date period, PSK achieves a -1.10% return, which is significantly higher than LTPZ's -3.75% return. Over the past 10 years, PSK has outperformed LTPZ with an annualized return of 1.86%, while LTPZ has yielded a comparatively lower -0.06% annualized return.
PSK
- 1D
- 0.10%
- 1M
- -0.82%
- 6M
- -2.99%
- YTD
- -1.10%
- 1Y
- -0.14%
- 3Y*
- 3.27%
- 5Y*
- -1.17%
- 10Y*
- 1.86%
- ALL TIME*
- 4.49%
LTPZ
- 1D
- -0.34%
- 1M
- -3.73%
- 6M
- -3.61%
- YTD
- -3.75%
- 1Y
- -2.50%
- 3Y*
- -1.54%
- 5Y*
- -7.34%
- 10Y*
- -0.06%
- ALL TIME*
- 2.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.36M | $8.24M | $7.63M | |
| $3.42M | $3.24M | $2.65M |
PSK vs. LTPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSK SPDR ICE Preferred Securities ETF | -1.10% | 2.69% | 4.81% | 8.91% | -18.86% | 1.57% | 6.37% | 17.59% | -4.54% | 12.44% |
LTPZ PIMCO 15+ Year U.S. TIPS Index ETF | -3.75% | 4.00% | -4.80% | 0.96% | -31.71% | 7.02% | 24.89% | 17.47% | -7.22% | 9.07% |
Correlation
The correlation between PSK and LTPZ is 0.44, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.44 |
Correlation (3Y) Balances recent behavior with more history. | 0.51 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.43 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.32 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2009 | 0.19 |
Over the past year, PSK and LTPZ have become more correlated (0.44) than their long-term average of 0.19, meaning their price movements have been converging.
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Return for Risk
PSK vs. LTPZ — Risk / Return Rank
PSK
LTPZ
PSK vs. LTPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR ICE Preferred Securities ETF (PSK) and PIMCO 15+ Year U.S. TIPS Index ETF (LTPZ). 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.
| PSK | LTPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.98 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.04 | -0.20 | +0.24 |
| Martin ratioReturn relative to average drawdown | 0.08 | -0.42 | +0.50 |
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Drawdowns
PSK vs. LTPZ - Drawdown Comparison
The maximum PSK drawdown since its inception was -30.10%, smaller than the maximum LTPZ drawdown of -40.99%. Use the drawdown chart below to compare losses from any high point for PSK and LTPZ.
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Drawdown Indicators
| PSK | LTPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.10% | -40.99% | +10.89% |
Max Drawdown (1Y)Largest decline over 1 year | -5.50% | -8.09% | +2.59% |
Max Drawdown (3Y)Largest decline over 3 years | -10.30% | -12.64% | +2.34% |
Max Drawdown (5Y)Largest decline over 5 years | -22.23% | -40.99% | +18.76% |
Max Drawdown (10Y)Largest decline over 10 years | -30.10% | -40.99% | +10.89% |
Current DrawdownCurrent decline from peak | -6.47% | -35.53% | +29.06% |
Average DrawdownAverage peak-to-trough decline | -4.00% | -12.60% | +8.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 3.86% | -0.81% |
Volatility
PSK vs. LTPZ - Volatility Comparison
The current volatility for SPDR ICE Preferred Securities ETF (PSK) is 1.35%, while PIMCO 15+ Year U.S. TIPS Index ETF (LTPZ) has a volatility of 2.05%. This indicates that PSK experiences smaller price fluctuations and is considered to be less risky than LTPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSK | LTPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 2.05% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 4.28% | 6.79% | -2.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.90% | 9.03% | -3.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.75% | 15.85% | -5.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.88% | 15.03% | -3.15% |
PSK vs. LTPZ - Expense Ratio Comparison
PSK has a 0.45% expense ratio, which is higher than LTPZ's 0.20% expense ratio.
Dividends
PSK vs. LTPZ - Dividend Comparison
PSK's dividend yield for the trailing twelve months is around 7.13%, more than LTPZ's 6.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year U.S. TIPS Index ETF | 6.00% | 4.64% | 3.71% | 3.71% | 8.38% | 3.56% | 1.42% | 1.74% | 3.05% | 2.25% | 2.32% | 0.71% |
PSK SPDR ICE Preferred Securities ETF | 6.54% | 6.82% | 6.55% | 6.44% | 6.55% | 5.03% | 5.08% | 5.44% | 6.47% | 6.91% | 5.92% | 5.35% |
Frequently Asked Questions
PSK and LTPZ have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LTPZ has higher volatility (2.05%) compared to PSK (1.35%). In terms of maximum drawdown, PSK dropped -30.10% vs LTPZ's -40.99%.
On 10-year performance, PSK leads with 1.86% vs -0.06% for LTPZ. On fees, LTPZ is cheaper at 0.20% per year. On volatility, PSK has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PSK has performed better with a 1.86% return vs -0.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LTPZ is cheaper with a 0.20% expense ratio, compared with 0.45% for PSK.
PSK has the higher dividend yield at 6.54%, compared with 6.00% for LTPZ.
PSK is categorized as Preferred Stock, while LTPZ is Inflation-Protected Bonds. PSK tracks PSK-US - ICE Exchange-Listed Fixed& Adjustable Rate Preferred Securities Index, while LTPZ tracks ICE BofA US Inflation-Linked Treasury (15+ Y). They also come from different issuers: State Street and PIMCO. Their fees differ too: 0.45% for PSK and 0.20% for LTPZ.
PSK currently has the higher Sharpe Ratio (0.04 vs -0.18), 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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