STPZ vs. GTIP
STPZ (PIMCO 1-5 Year US TIPS Index ETF) and GTIP (Goldman Sachs Access Inflation Protected USD Bond ETF) are both Inflation-Protected Bonds funds - STPZ tracks the ICE BofA US Inflation-Linked Treasury (1-5 Y) while GTIP tracks the FTSE Goldman Sachs Treasury Inflation Protected USD Bond Index. Both are passively managed. Over the past 5 years, STPZ returned 2.57%/yr vs 0.25%/yr for GTIP. Their correlation of 0.80 means they have usually moved in the same direction. STPZ charges 0.20%/yr vs 0.12%/yr for GTIP.
Performance
STPZ vs. GTIP - Performance Comparison
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Returns By Period
In the year-to-date period, STPZ achieves a 1.45% return, which is significantly higher than GTIP's 0.48% return.
STPZ
- 1D
- 0.00%
- 1M
- 0.04%
- 6M
- 0.88%
- YTD
- 1.45%
- 1Y
- 2.58%
- 3Y*
- 4.96%
- 5Y*
- 2.57%
- 10Y*
- 2.84%
- ALL TIME*
- 2.41%
GTIP
- 1D
- -0.22%
- 1M
- -0.75%
- 6M
- -0.10%
- YTD
- 0.48%
- 1Y
- 1.69%
- 3Y*
- 3.77%
- 5Y*
- 0.25%
- 10Y*
- —
- ALL TIME*
- 3.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.08M | $1.13M | $1.80M | |
| $3.76M | $3.55M | $4.14M |
STPZ vs. GTIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
STPZ PIMCO 1-5 Year US TIPS Index ETF | 1.45% | 6.40% | 4.30% | 4.28% | -4.49% | 5.64% | 5.44% | 4.83% | -0.36% |
GTIP Goldman Sachs Access Inflation Protected USD Bond ETF | 0.48% | 6.63% | 2.04% | 3.88% | -12.14% | 5.86% | 10.83% | 8.33% | 0.32% |
Correlation
The correlation between STPZ and GTIP is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2018 | 0.80 |
The correlation between STPZ and GTIP has been stable across timeframes, ranging from 0.76 to 0.84 - a consistent structural relationship.
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Return for Risk
STPZ vs. GTIP — Risk / Return Rank
STPZ
GTIP
STPZ vs. GTIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO 1-5 Year US TIPS Index ETF (STPZ) and Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP). 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.
| STPZ | GTIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.13 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.29 | 1.19 | +2.10 |
| Martin ratioReturn relative to average drawdown | 8.84 | 3.37 | +5.46 |
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Drawdowns
STPZ vs. GTIP - Drawdown Comparison
The maximum STPZ drawdown since its inception was -6.77%, smaller than the maximum GTIP drawdown of -14.31%. Use the drawdown chart below to compare losses from any high point for STPZ and GTIP.
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Drawdown Indicators
| STPZ | GTIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.77% | -14.31% | +7.54% |
Max Drawdown (1Y)Largest decline over 1 year | -0.93% | -2.02% | +1.09% |
Max Drawdown (3Y)Largest decline over 3 years | -1.35% | -3.69% | +2.34% |
Max Drawdown (5Y)Largest decline over 5 years | -6.70% | -14.31% | +7.61% |
Max Drawdown (10Y)Largest decline over 10 years | -6.77% | — | — |
Current DrawdownCurrent decline from peak | -0.45% | -1.36% | +0.91% |
Average DrawdownAverage peak-to-trough decline | -1.30% | -4.16% | +2.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.35% | 0.71% | -0.36% |
Volatility
STPZ vs. GTIP - Volatility Comparison
The current volatility for PIMCO 1-5 Year US TIPS Index ETF (STPZ) is 0.50%, while Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP) has a volatility of 0.70%. This indicates that STPZ experiences smaller price fluctuations and is considered to be less risky than GTIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| STPZ | GTIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 0.70% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 1.44% | 2.50% | -1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.92% | 3.32% | -1.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.28% | 6.04% | -2.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.98% | 5.97% | -2.99% |
STPZ vs. GTIP - Expense Ratio Comparison
STPZ has a 0.20% expense ratio, which is higher than GTIP's 0.12% 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%.
Dividends
STPZ vs. GTIP - Dividend Comparison
STPZ's dividend yield for the trailing twelve months is around 4.76%, less than GTIP's 5.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GTIP Goldman Sachs Access Inflation Protected USD Bond ETF | 5.10% | 4.58% | 3.52% | 2.77% | 6.47% | 3.82% | 1.04% | 2.34% | 0.66% | 0.00% | 0.00% | 0.00% |
STPZ PIMCO 1-5 Year US TIPS Index ETF | 4.50% | 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
STPZ and GTIP have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GTIP has higher volatility (0.70%) compared to STPZ (0.50%). In terms of maximum drawdown, STPZ dropped -6.77% vs GTIP's -14.31%.
On 5-year performance, STPZ leads with 2.57% vs 0.25% for GTIP. On fees, GTIP is cheaper at 0.12% per year. On volatility, STPZ has been the lower-risk option at 0.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, STPZ has performed better with a 2.57% return vs 0.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GTIP is cheaper with a 0.12% expense ratio, compared with 0.20% for STPZ.
GTIP has the higher dividend yield at 5.10%, compared with 4.50% for STPZ.
STPZ tracks ICE BofA US Inflation-Linked Treasury (1-5 Y), while GTIP tracks FTSE Goldman Sachs Treasury Inflation Protected USD Bond Index. They also come from different issuers: PIMCO and Goldman Sachs. Their fees differ too: 0.20% for STPZ and 0.12% for GTIP.
STPZ currently has the higher Sharpe Ratio (1.60 vs 0.73), 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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