STIP vs. STPZ
STIP (iShares 0-5 Year TIPS Bond ETF) and STPZ (PIMCO 1-5 Year US TIPS Index ETF) are both Inflation-Protected Bonds funds - STIP tracks the Bloomberg US Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L) while STPZ tracks the ICE BofA US Inflation-Linked Treasury (1-5 Y). Both are passively managed. Over the past 10 years, STIP returned 3.07%/yr vs 2.77%/yr for STPZ. Their correlation of 0.89 suggests significant overlap in exposure. STIP charges 0.06%/yr vs 0.20%/yr for STPZ.
Performance
STIP vs. STPZ - Performance Comparison
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Returns By Period
In the year-to-date period, STIP achieves a 1.33% return, which is significantly higher than STPZ's 0.96% return. Over the past 10 years, STIP has outperformed STPZ with an annualized return of 3.07%, while STPZ has yielded a comparatively lower 2.77% annualized return.
STIP
- 1D
- -0.22%
- 1M
- -0.30%
- YTD
- 1.33%
- 6M
- 1.45%
- 1Y
- 3.64%
- 3Y*
- 4.99%
- 5Y*
- 3.26%
- 10Y*
- 3.07%
STPZ
- 1D
- -0.23%
- 1M
- -0.42%
- YTD
- 0.96%
- 6M
- 1.11%
- 1Y
- 3.28%
- 3Y*
- 4.79%
- 5Y*
- 2.80%
- 10Y*
- 2.77%
STIP vs. STPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
STIP iShares 0-5 Year TIPS Bond ETF | 1.33% | 6.03% | 4.77% | 4.63% | -3.02% | 5.68% | 5.18% | 4.89% | 0.54% | 0.74% |
STPZ PIMCO 1-5 Year US TIPS Index ETF | 0.96% | 6.40% | 4.30% | 4.28% | -4.49% | 5.64% | 5.44% | 4.83% | 0.04% | 0.51% |
Correlation
The correlation between STIP and STPZ is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2010 | 0.89 |
The correlation between STIP and STPZ has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.
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Return for Risk
STIP vs. STPZ — Risk / Return Rank
STIP
STPZ
STIP vs. STPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year TIPS Bond ETF (STIP) and PIMCO 1-5 Year US TIPS Index ETF (STPZ). 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.
| STIP | STPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.32 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 5.04 | 3.54 | +1.50 |
| Martin ratioReturn relative to average drawdown | 19.01 | 11.04 | +7.97 |
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Drawdowns
STIP vs. STPZ - Drawdown Comparison
The maximum STIP drawdown since its inception was -5.50%, smaller than the maximum STPZ drawdown of -6.77%. Use the drawdown chart below to compare losses from any high point for STIP and STPZ.
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Drawdown Indicators
| STIP | STPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.50% | -6.77% | +1.27% |
Max Drawdown (1Y)Largest decline over 1 year | -0.73% | -0.93% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -0.95% | -1.35% | +0.40% |
Max Drawdown (5Y)Largest decline over 5 years | -5.50% | -6.70% | +1.20% |
Max Drawdown (10Y)Largest decline over 10 years | -5.50% | -6.77% | +1.27% |
Current DrawdownCurrent decline from peak | -0.73% | -0.93% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -0.99% | -1.30% | +0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 0.30% | -0.11% |
Volatility
STIP vs. STPZ - Volatility Comparison
The current volatility for iShares 0-5 Year TIPS Bond ETF (STIP) is 0.65%, while PIMCO 1-5 Year US TIPS Index ETF (STPZ) has a volatility of 0.82%. This indicates that STIP experiences smaller price fluctuations and is considered to be less risky than STPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| STIP | STPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | 0.82% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 1.14% | 1.39% | -0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.54% | 1.95% | -0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.74% | 3.29% | -0.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.46% | 2.99% | -0.53% |
STIP vs. STPZ - Expense Ratio Comparison
STIP has a 0.06% expense ratio, which is lower than STPZ's 0.20% 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. STPZ - Dividend Comparison
STIP's dividend yield for the trailing twelve months is around 4.33%, more than STPZ's 4.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
STIP iShares 0-5 Year TIPS Bond ETF | 4.33% | 4.11% | 2.62% | 2.84% | 6.04% | 4.15% | 1.40% | 2.06% | 2.44% | 1.59% | 0.89% | 0.00% |
STPZ PIMCO 1-5 Year US TIPS Index ETF | 4.14% | 3.65% | 1.97% | 1.63% | 5.88% | 3.65% | 1.86% | 1.76% | 2.23% | 1.51% | 0.65% | 0.49% |
Frequently Asked Questions
With a correlation of 0.90, STIP and STPZ 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.
STPZ has higher volatility (0.82%) compared to STIP (0.65%). In terms of maximum drawdown, STIP dropped -5.50% vs STPZ's -6.77%.
On 10-year performance, STIP leads with 3.07% vs 2.77% for STPZ. On fees, STIP is cheaper at 0.06% per year. On volatility, STIP has been the lower-risk option at 0.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, STIP has performed better with a 3.07% return vs 2.77%. 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 0.20% for STPZ.
STIP has the higher dividend yield at 4.33%, compared with 4.14% for STPZ.
STIP tracks Bloomberg US Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L), while STPZ tracks ICE BofA US Inflation-Linked Treasury (1-5 Y). They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.06% for STIP and 0.20% for STPZ.
STIP currently has the higher Sharpe Ratio (2.38 vs 1.69), 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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