SPIP vs. FIPDX
Compare and contrast key facts about SPDR Portfolio TIPS ETF (SPIP) and Fidelity Inflation-Protected Bond Index Fund (FIPDX).
SPIP is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays US Government Inflation-linked Bond Index. It was launched on May 25, 2007. FIPDX is managed by Fidelity. It was launched on May 16, 2012.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPIP or FIPDX.
Key characteristics
| SPIP | FIPDX | |
|---|---|---|
| YTD Return | 4.00% | 3.46% |
| 1Y Return | 7.47% | 7.44% |
| 3Y Return (Ann) | -2.46% | -2.05% |
| 5Y Return (Ann) | 2.16% | 1.76% |
| 10Y Return (Ann) | 2.17% | 1.47% |
| Sharpe Ratio | 1.13 | 1.54 |
| Sortino Ratio | 1.70 | 2.31 |
| Omega Ratio | 1.20 | 1.28 |
| Calmar Ratio | 0.48 | 0.59 |
| Martin Ratio | 5.73 | 7.13 |
| Ulcer Index | 1.15% | 1.04% |
| Daily Std Dev | 5.87% | 4.88% |
| Max Drawdown | -15.38% | -14.29% |
| Current Drawdown | -7.19% | -6.12% |
Correlation
The correlation between SPIP and FIPDX is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
SPIP vs. FIPDX - Performance Comparison
In the year-to-date period, SPIP achieves a 4.00% return, which is significantly higher than FIPDX's 3.46% return. Over the past 10 years, SPIP has outperformed FIPDX with an annualized return of 2.17%, while FIPDX has yielded a comparatively lower 1.47% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SPIP vs. FIPDX - Expense Ratio Comparison
SPIP has a 0.12% expense ratio, which is higher than FIPDX's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
SPIP vs. FIPDX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio TIPS ETF (SPIP) and Fidelity Inflation-Protected Bond Index Fund (FIPDX). 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.
Dividends
SPIP vs. FIPDX - Dividend Comparison
SPIP's dividend yield for the trailing twelve months is around 3.20%, less than FIPDX's 5.45% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPIP SPDR Portfolio TIPS ETF | 3.20% | 3.70% | 7.06% | 4.53% | 1.97% | 2.60% | 2.80% | 3.02% | 1.88% | 0.14% | 1.66% | 1.11% |
FIPDX Fidelity Inflation-Protected Bond Index Fund | 5.45% | 3.59% | 8.87% | 4.76% | 0.24% | 0.41% | 0.39% | 0.09% | 0.08% | 0.11% | 1.10% | 0.66% |
Drawdowns
SPIP vs. FIPDX - Drawdown Comparison
The maximum SPIP drawdown since its inception was -15.38%, which is greater than FIPDX's maximum drawdown of -14.29%. Use the drawdown chart below to compare losses from any high point for SPIP and FIPDX. For additional features, visit the drawdowns tool.
Volatility
SPIP vs. FIPDX - Volatility Comparison
SPDR Portfolio TIPS ETF (SPIP) has a higher volatility of 1.29% compared to Fidelity Inflation-Protected Bond Index Fund (FIPDX) at 1.19%. This indicates that SPIP's price experiences larger fluctuations and is considered to be riskier than FIPDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.