STIP vs. PBTP
STIP (iShares 0-5 Year TIPS Bond ETF) and PBTP (Invesco PureBeta 0-5 Yr US TIPS ETF) are both Inflation-Protected Bonds funds - STIP tracks the Barclays Capital U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L) while PBTP tracks the ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y). Both are passively managed. Over the past 5 years, STIP returned 3.37%/yr vs 3.32%/yr for PBTP. Their correlation of 0.88 suggests significant overlap in exposure. STIP charges 0.06%/yr vs 0.07%/yr for PBTP.
Performance
STIP vs. PBTP - Performance Comparison
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Returns By Period
In the year-to-date period, STIP achieves a 2.04% return, which is significantly lower than PBTP's 2.15% return.
STIP
- 1D
- 0.00%
- 1M
- 0.03%
- YTD
- 2.04%
- 6M
- 2.03%
- 1Y
- 4.68%
- 3Y*
- 5.23%
- 5Y*
- 3.37%
- 10Y*
- 3.18%
PBTP
- 1D
- -0.02%
- 1M
- 0.08%
- YTD
- 2.15%
- 6M
- 2.14%
- 1Y
- 4.68%
- 3Y*
- 5.23%
- 5Y*
- 3.32%
- 10Y*
- —
STIP vs. PBTP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
STIP iShares 0-5 Year TIPS Bond ETF | 2.04% | 6.03% | 4.77% | 4.63% | -3.02% | 5.68% | 5.18% | 4.89% | 0.54% | 0.06% |
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 2.15% | 5.98% | 4.72% | 4.53% | -3.02% | 5.51% | 4.89% | 4.72% | 0.59% | 0.04% |
Correlation
The correlation between STIP and PBTP is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2017 | 0.88 |
The correlation between STIP and PBTP has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.
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Return for Risk
STIP vs. PBTP — Risk / Return Rank
STIP
PBTP
STIP vs. PBTP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year TIPS Bond ETF (STIP) and Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP). 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.
| STIP | PBTP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.69 | 1.66 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 6.76 | 7.08 | -0.31 |
| Martin ratioReturn relative to average drawdown | 26.37 | 24.51 | +1.86 |
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
| STIP | PBTP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.23 | 3.05 | +0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.23 | 1.17 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.07 | 1.30 | -0.23 |
Drawdowns
STIP vs. PBTP - Drawdown Comparison
The maximum STIP drawdown since its inception was -5.50%, roughly equal to the maximum PBTP drawdown of -5.44%. Use the drawdown chart below to compare losses from any high point for STIP and PBTP.
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Drawdown Indicators
| STIP | PBTP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.50% | -5.44% | -0.06% |
Max Drawdown (1Y)Largest decline over 1 year | -0.69% | -0.66% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -0.95% | -1.03% | +0.08% |
Max Drawdown (5Y)Largest decline over 5 years | -5.50% | -5.44% | -0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -5.50% | — | — |
Current DrawdownCurrent decline from peak | -0.03% | -0.02% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -0.99% | -0.75% | -0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.18% | 0.19% | -0.01% |
Volatility
STIP vs. PBTP - Volatility Comparison
iShares 0-5 Year TIPS Bond ETF (STIP) and Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) have volatilities of 0.40% and 0.40%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| STIP | PBTP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.40% | 0.40% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 0.99% | 1.03% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.46% | 1.54% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.75% | 2.85% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.45% | 2.64% | -0.19% |
STIP vs. PBTP - Expense Ratio Comparison
STIP has a 0.06% expense ratio, which is lower than PBTP's 0.07% 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%.
Dividends
STIP vs. PBTP - Dividend Comparison
STIP's dividend yield for the trailing twelve months is around 4.30%, more than PBTP's 3.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 3.10% | 3.82% | 2.59% | 2.36% | 5.33% | 3.12% | 1.25% | 2.12% | 2.33% | 0.73% | 0.00% |
STIP iShares 0-5 Year TIPS Bond ETF | 4.30% | 4.11% | 2.62% | 2.84% | 6.04% | 4.15% | 1.40% | 2.06% | 2.44% | 1.59% | 0.89% |
Frequently Asked Questions
With a correlation of 0.91, STIP and PBTP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PBTP has higher volatility (0.40%) compared to STIP (0.40%). In terms of maximum drawdown, STIP dropped -5.50% vs PBTP's -5.44%.
On 5-year performance, STIP leads with 3.37% vs 3.32% for PBTP. On fees, STIP is cheaper at 0.06% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, STIP has performed better with a 3.37% return vs 3.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
STIP is cheaper with a 0.06% expense ratio, compared with 0.07% for PBTP.
STIP has the higher dividend yield at 4.30%, compared with 3.10% for PBTP.
STIP tracks Barclays Capital U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L), while PBTP tracks ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y). They also come from different issuers: iShares and Invesco. Their fees differ too: 0.06% for STIP and 0.07% for PBTP.
STIP currently has the higher Sharpe Ratio (3.23 vs 3.05), 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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