SPIP vs. IBIC
Compare and contrast key facts about SPDR Portfolio TIPS ETF (SPIP) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC).
SPIP and IBIC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. IBIC is a passively managed fund by iShares that tracks the performance of the ICE 2026 Maturity US Inflation-Linked Treasury Index. It was launched on Sep 13, 2023. Both SPIP and IBIC are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SPIP vs. IBIC - Performance Comparison
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SPIP vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPIP SPDR Portfolio TIPS ETF | 0.27% | 6.78% | 2.35% | 2.47% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 1.45% | 4.96% | 5.25% | 2.17% |
Returns By Period
In the year-to-date period, SPIP achieves a 0.27% return, which is significantly lower than IBIC's 1.45% return.
SPIP
- 1D
- -0.06%
- 1M
- -1.48%
- YTD
- 0.27%
- 6M
- 0.20%
- 1Y
- 2.65%
- 3Y*
- 2.91%
- 5Y*
- 1.15%
- 10Y*
- 2.53%
IBIC
- 1D
- -0.04%
- 1M
- 0.86%
- YTD
- 1.45%
- 6M
- 2.09%
- 1Y
- 4.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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SPIP vs. IBIC - Expense Ratio Comparison
SPIP has a 0.12% expense ratio, which is higher than IBIC's 0.10% 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%.
Return for Risk
SPIP vs. IBIC — Risk / Return Rank
SPIP
IBIC
SPIP vs. IBIC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio TIPS ETF (SPIP) 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.
| SPIP | IBIC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.61 | 3.71 | -3.10 |
Sortino ratioReturn per unit of downside risk | 0.83 | 6.38 | -5.55 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.91 | -0.80 |
Calmar ratioReturn relative to maximum drawdown | 1.05 | 8.93 | -7.88 |
Martin ratioReturn relative to average drawdown | 3.04 | 32.20 | -29.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPIP | IBIC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.61 | 3.71 | -3.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 3.42 | -2.90 |
Correlation
The correlation between SPIP and IBIC is 0.49, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
SPIP vs. IBIC - Dividend Comparison
SPIP's dividend yield for the trailing twelve months is around 4.05%, less than IBIC's 4.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPIP SPDR Portfolio TIPS ETF | 4.05% | 4.09% | 3.36% | 3.70% | 7.05% | 4.53% | 1.97% | 2.91% | 2.80% | 3.02% | 1.88% | 0.14% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 4.37% | 4.43% | 4.65% | 0.83% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPIP vs. IBIC - Drawdown Comparison
The maximum SPIP drawdown since its inception was -15.39%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for SPIP and IBIC.
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Drawdown Indicators
| SPIP | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.39% | -0.90% | -14.49% |
Max Drawdown (1Y)Largest decline over 1 year | -2.92% | -0.46% | -2.46% |
Max Drawdown (5Y)Largest decline over 5 years | -15.39% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -15.39% | — | — |
Current DrawdownCurrent decline from peak | -2.21% | -0.04% | -2.17% |
Average DrawdownAverage peak-to-trough decline | -4.13% | -0.10% | -4.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 0.13% | +0.88% |
Volatility
SPIP vs. IBIC - Volatility Comparison
SPDR Portfolio TIPS ETF (SPIP) has a higher volatility of 1.75% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.37%. This indicates that SPIP'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
| SPIP | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.75% | 0.37% | +1.38% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 0.62% | +1.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.39% | 1.16% | +3.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.59% | 1.61% | +4.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.03% | 1.61% | +4.42% |