STPZ vs. ICPI
STPZ (PIMCO 1-5 Year US TIPS Index ETF) and ICPI (iShares 0-1 Year TIPS Bond ETF) are both Inflation-Protected Bonds funds - STPZ tracks the ICE BofA US Inflation-Linked Treasury (1-5 Y) while ICPI tracks the ICE U.S. Treasury 0-1 Year Inflation Linked Bond Index. Both are passively managed. At a 0.23 correlation, their price movements are largely independent. STPZ charges 0.20%/yr vs 0.09%/yr for ICPI.
Performance
STPZ vs. ICPI - Performance Comparison
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Returns By Period
In the year-to-date period, STPZ achieves a 1.79% return, which is significantly lower than ICPI's 2.70% return.
STPZ
- 1D
- -0.00%
- 1M
- -0.09%
- YTD
- 1.79%
- 6M
- 1.77%
- 1Y
- 4.51%
- 3Y*
- 5.03%
- 5Y*
- 2.90%
- 10Y*
- 2.89%
ICPI
- 1D
- 0.05%
- 1M
- 0.44%
- YTD
- 2.70%
- 6M
- 2.76%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
STPZ vs. ICPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
STPZ PIMCO 1-5 Year US TIPS Index ETF | 1.79% | 0.19% |
ICPI iShares 0-1 Year TIPS Bond ETF | 2.70% | 0.32% |
Correlation
The correlation between STPZ and ICPI is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025 | 0.23 |
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Return for Risk
STPZ vs. ICPI — Risk / Return Rank
STPZ
ICPI
STPZ vs. ICPI - 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 iShares 0-1 Year TIPS Bond ETF (ICPI). 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.
| STPZ | ICPI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.49 | — | — |
Sortino ratioReturn per unit of downside risk | 3.94 | — | — |
Omega ratioGain probability vs. loss probability | 1.49 | — | — |
Calmar ratioReturn relative to maximum drawdown | 4.87 | — | — |
Martin ratioReturn relative to average drawdown | 16.28 | — | — |
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
| STPZ | ICPI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.49 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.89 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.97 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 6.20 | -5.30 |
Drawdowns
STPZ vs. ICPI - Drawdown Comparison
The maximum STPZ drawdown since its inception was -6.77%, which is greater than ICPI's maximum drawdown of -0.22%. Use the drawdown chart below to compare losses from any high point for STPZ and ICPI.
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Drawdown Indicators
| STPZ | ICPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.77% | -0.22% | -6.55% |
Max Drawdown (1Y)Largest decline over 1 year | -0.93% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -1.35% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -6.70% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -6.77% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | 0.00% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -1.31% | -0.03% | -1.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.28% | — | — |
Volatility
STPZ vs. ICPI - Volatility Comparison
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Volatility by Period
| STPZ | ICPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.46% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.20% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.83% | 0.95% | +0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.29% | 0.95% | +2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.98% | 0.95% | +2.03% |
STPZ vs. ICPI - Expense Ratio Comparison
STPZ has a 0.20% expense ratio, which is higher than ICPI's 0.09% 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. ICPI - Dividend Comparison
STPZ's dividend yield for the trailing twelve months is around 4.10%, more than ICPI's 1.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICPI iShares 0-1 Year TIPS Bond ETF | 1.80% | 0.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
STPZ PIMCO 1-5 Year US TIPS Index ETF | 4.10% | 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 ICPI have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICPI is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICPI is cheaper with a 0.09% expense ratio, compared with 0.20% for STPZ.
STPZ has the higher dividend yield at 4.10%, compared with 1.80% for ICPI.
STPZ tracks ICE BofA US Inflation-Linked Treasury (1-5 Y), while ICPI tracks ICE U.S. Treasury 0-1 Year Inflation Linked Bond Index. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.20% for STPZ and 0.09% for ICPI.
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