PSP vs. TIP
PSP (Invesco Global Listed Private Equity ETF) and TIP (iShares TIPS Bond ETF) are both exchange-traded funds - PSP is a Global Equities fund tracking the Red Rocks Global Listed Private Equity Index, while TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index. Both are passively managed. Over the past 10 years, PSP returned 8.12%/yr vs 2.54%/yr for TIP. At a correlation of -0.05, they often move in opposite directions. PSP charges 1.44%/yr vs 0.18%/yr for TIP.
Performance
PSP vs. TIP - Performance Comparison
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Returns By Period
In the year-to-date period, PSP achieves a -11.42% return, which is significantly lower than TIP's 1.53% return. Over the past 10 years, PSP has outperformed TIP with an annualized return of 8.12%, while TIP has yielded a comparatively lower 2.54% annualized return.
PSP
- 1D
- 0.27%
- 1M
- -0.85%
- YTD
- -11.42%
- 6M
- -10.38%
- 1Y
- -5.41%
- 3Y*
- 9.76%
- 5Y*
- 0.38%
- 10Y*
- 8.12%
TIP
- 1D
- 0.14%
- 1M
- 0.39%
- YTD
- 1.53%
- 6M
- 1.63%
- 1Y
- 4.91%
- 3Y*
- 3.83%
- 5Y*
- 1.10%
- 10Y*
- 2.54%
PSP vs. TIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSP Invesco Global Listed Private Equity ETF | -11.42% | 6.49% | 17.42% | 37.72% | -37.37% | 27.30% | 12.47% | 35.73% | -15.12% | 24.13% |
TIP iShares TIPS Bond ETF | 1.53% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 10.84% | 8.35% | -1.42% | 2.92% |
Correlation
The correlation between PSP and TIP is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2006 | -0.05 |
The correlation between PSP and TIP shifts across timeframes, from -0.05 (all time) to 0.27 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PSP vs. TIP — Risk / Return Rank
PSP
TIP
PSP vs. TIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) and iShares TIPS Bond ETF (TIP). 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.
| PSP | TIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.49 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.26 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.24 | 2.49 | -2.74 |
| Martin ratioReturn relative to average drawdown | -0.54 | 7.45 | -7.98 |
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Drawdowns
PSP vs. TIP - Drawdown Comparison
The maximum PSP drawdown since its inception was -85.40%, which is greater than TIP's maximum drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for PSP and TIP.
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Drawdown Indicators
| PSP | TIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.40% | -14.57% | -70.83% |
Max Drawdown (1Y)Largest decline over 1 year | -22.37% | -1.98% | -20.39% |
Max Drawdown (3Y)Largest decline over 3 years | -22.94% | -4.54% | -18.40% |
Max Drawdown (5Y)Largest decline over 5 years | -47.16% | -14.51% | -32.65% |
Max Drawdown (10Y)Largest decline over 10 years | -47.16% | -14.51% | -32.65% |
Current DrawdownCurrent decline from peak | -15.75% | -0.33% | -15.42% |
Average DrawdownAverage peak-to-trough decline | -30.67% | -3.43% | -27.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.12% | 0.66% | +9.46% |
Volatility
PSP vs. TIP - Volatility Comparison
Invesco Global Listed Private Equity ETF (PSP) has a higher volatility of 7.43% compared to iShares TIPS Bond ETF (TIP) at 1.03%. This indicates that PSP's price experiences larger fluctuations and is considered to be riskier than TIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSP | TIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.43% | 1.03% | +6.40% |
Volatility (6M)Calculated over the trailing 6-month period | 16.48% | 2.33% | +14.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.15% | 3.38% | +16.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.85% | 6.21% | +17.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.47% | 5.74% | +16.73% |
PSP vs. TIP - Expense Ratio Comparison
PSP has a 1.44% expense ratio, which is higher than TIP's 0.18% expense ratio.
Dividends
PSP vs. TIP - Dividend Comparison
PSP's dividend yield for the trailing twelve months is around 6.52%, more than TIP's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSP Invesco Global Listed Private Equity ETF | 6.52% | 5.87% | 8.62% | 3.96% | 2.88% | 10.34% | 4.66% | 5.87% | 6.81% | 10.18% | 4.12% | 6.23% |
TIP iShares TIPS Bond ETF | 3.76% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
Frequently Asked Questions
PSP and TIP have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSP has higher volatility (7.43%) compared to TIP (1.03%). In terms of maximum drawdown, PSP dropped -85.40% vs TIP's -14.57%.
On 10-year performance, PSP leads with 8.12% vs 2.54% for TIP. On fees, TIP is cheaper at 0.18% per year. On volatility, TIP has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PSP has performed better with a 8.12% return vs 2.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TIP is cheaper with a 0.18% expense ratio, compared with 1.44% for PSP.
PSP has the higher dividend yield at 6.52%, compared with 3.76% for TIP.
PSP is categorized as Global Equities, while TIP is Inflation-Protected Bonds. PSP tracks Red Rocks Global Listed Private Equity Index, while TIP tracks ICE U.S. Treasury Inflation Linked Bond Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 1.44% for PSP and 0.18% for TIP.
TIP currently has the higher Sharpe Ratio (1.46 vs -0.27), 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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