SPIP vs. TDTT
Compare and contrast key facts about SPDR Portfolio TIPS ETF (SPIP) and FlexShares iBoxx 3-Year Target Duration TIPS Index Fund (TDTT).
SPIP and TDTT 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. TDTT is a passively managed fund by Northern Trust that tracks the performance of the iBoxx 3-Year Target Duration TIPS. It was launched on Sep 19, 2011. Both SPIP and TDTT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPIP or TDTT.
Key characteristics
| SPIP | TDTT | |
|---|---|---|
| YTD Return | 3.68% | 4.11% |
| 1Y Return | 7.14% | 6.72% |
| 3Y Return (Ann) | -2.45% | 1.17% |
| 5Y Return (Ann) | 2.08% | 3.39% |
| 10Y Return (Ann) | 2.14% | 2.31% |
| Sharpe Ratio | 1.23 | 2.29 |
| Sortino Ratio | 1.87 | 3.78 |
| Omega Ratio | 1.22 | 1.48 |
| Calmar Ratio | 0.52 | 1.64 |
| Martin Ratio | 6.14 | 14.74 |
| Ulcer Index | 1.16% | 0.45% |
| Daily Std Dev | 5.83% | 2.93% |
| Max Drawdown | -15.38% | -6.97% |
| Current Drawdown | -7.47% | -1.09% |
Correlation
The correlation between SPIP and TDTT is 0.69, 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.
Performance
SPIP vs. TDTT - Performance Comparison
In the year-to-date period, SPIP achieves a 3.68% return, which is significantly lower than TDTT's 4.11% return. Over the past 10 years, SPIP has underperformed TDTT with an annualized return of 2.14%, while TDTT has yielded a comparatively higher 2.31% 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. TDTT - Expense Ratio Comparison
SPIP has a 0.12% expense ratio, which is lower than TDTT's 0.18% expense ratio. Despite the difference, 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. TDTT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio TIPS ETF (SPIP) and FlexShares iBoxx 3-Year Target Duration TIPS Index Fund (TDTT). 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. TDTT - Dividend Comparison
SPIP's dividend yield for the trailing twelve months is around 3.21%, less than TDTT's 3.83% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPIP SPDR Portfolio TIPS ETF | 3.21% | 3.70% | 7.06% | 4.53% | 1.97% | 2.60% | 2.80% | 3.02% | 1.88% | 0.14% | 1.66% | 1.11% |
TDTT FlexShares iBoxx 3-Year Target Duration TIPS Index Fund | 3.83% | 3.88% | 6.97% | 4.53% | 1.15% | 1.91% | 2.48% | 1.88% | 1.01% | 0.00% | 0.85% | 0.19% |
Drawdowns
SPIP vs. TDTT - Drawdown Comparison
The maximum SPIP drawdown since its inception was -15.38%, which is greater than TDTT's maximum drawdown of -6.97%. Use the drawdown chart below to compare losses from any high point for SPIP and TDTT. For additional features, visit the drawdowns tool.
Volatility
SPIP vs. TDTT - Volatility Comparison
SPDR Portfolio TIPS ETF (SPIP) has a higher volatility of 1.32% compared to FlexShares iBoxx 3-Year Target Duration TIPS Index Fund (TDTT) at 0.55%. This indicates that SPIP's price experiences larger fluctuations and is considered to be riskier than TDTT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.