STPZ vs. RAFE
STPZ (PIMCO 1-5 Year US TIPS Index ETF) and RAFE (PIMCO RAFI ESG U.S. ETF) are both exchange-traded funds - STPZ is a Inflation-Protected Bonds fund tracking the ICE BofA US Inflation-Linked Treasury (1-5 Y), while RAFE is a Large Cap Blend Equities fund tracking the RAFI ESG US Index. Both are passively managed. Over the past 5 years, STPZ returned 2.62%/yr vs 11.73%/yr for RAFE. Their 0.12 correlation means their historical movements had little consistent relationship. STPZ charges 0.20%/yr vs 0.30%/yr for RAFE.
Performance
STPZ vs. RAFE - Performance Comparison
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Returns By Period
In the year-to-date period, STPZ achieves a 1.47% return, which is significantly lower than RAFE's 17.29% return.
STPZ
- 1D
- 0.02%
- 1M
- 0.06%
- 6M
- 1.12%
- YTD
- 1.47%
- 1Y
- 2.60%
- 3Y*
- 4.85%
- 5Y*
- 2.62%
- 10Y*
- 2.82%
- ALL TIME*
- 2.41%
RAFE
- 1D
- 0.52%
- 1M
- 1.64%
- 6M
- 14.11%
- YTD
- 17.29%
- 1Y
- 32.43%
- 3Y*
- 19.17%
- 5Y*
- 11.73%
- 10Y*
- —
- ALL TIME*
- 12.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $455.18K | $476.38K | $608.93K | |
| $3.45M | $3.35M | $4.10M |
STPZ vs. RAFE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
STPZ PIMCO 1-5 Year US TIPS Index ETF | 1.47% | 6.40% | 4.30% | 4.28% | -4.49% | 5.64% | 5.44% | 0.23% |
RAFE PIMCO RAFI ESG U.S. ETF | 17.29% | 17.60% | 13.81% | 18.80% | -13.76% | 30.16% | 5.29% | 0.43% |
Correlation
The correlation between STPZ and RAFE is 0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.03 |
Correlation (3Y) Balances recent behavior with more history. | 0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2019 | 0.12 |
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Return for Risk
STPZ vs. RAFE — Risk / Return Rank
STPZ
RAFE
STPZ vs. RAFE - 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 PIMCO RAFI ESG U.S. ETF (RAFE). 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 | RAFE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.47 | ||
| Sortino ratioReturn per unit of downside risk | -1.95 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.51 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 4.37 | -1.56 |
| Martin ratioReturn relative to average drawdown | 7.50 | 17.37 | -9.87 |
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Drawdowns
STPZ vs. RAFE - Drawdown Comparison
The maximum STPZ drawdown since its inception was -6.77%, smaller than the maximum RAFE drawdown of -35.74%. Use the drawdown chart below to compare losses from any high point for STPZ and RAFE.
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Drawdown Indicators
| STPZ | RAFE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.77% | -35.74% | +28.97% |
Max Drawdown (1Y)Largest decline over 1 year | -0.93% | -7.46% | +6.53% |
Max Drawdown (3Y)Largest decline over 3 years | -1.35% | -16.36% | +15.01% |
Max Drawdown (5Y)Largest decline over 5 years | -6.70% | -24.28% | +17.58% |
Max Drawdown (10Y)Largest decline over 10 years | -6.77% | — | — |
Current DrawdownCurrent decline from peak | -0.43% | -0.45% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -1.30% | -6.08% | +4.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.35% | 1.87% | -1.52% |
Volatility
STPZ vs. RAFE - Volatility Comparison
The current volatility for PIMCO 1-5 Year US TIPS Index ETF (STPZ) is 0.46%, while PIMCO RAFI ESG U.S. ETF (RAFE) has a volatility of 2.99%. This indicates that STPZ experiences smaller price fluctuations and is considered to be less risky than RAFE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| STPZ | RAFE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.46% | 2.99% | -2.53% |
Volatility (6M)Calculated over the trailing 6-month period | 1.44% | 8.71% | -7.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.87% | 11.39% | -9.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.28% | 15.05% | -11.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.98% | 19.27% | -16.29% |
STPZ vs. RAFE - Expense Ratio Comparison
STPZ has a 0.20% expense ratio, which is lower than RAFE's 0.30% expense ratio.
Dividends
STPZ vs. RAFE - Dividend Comparison
STPZ's dividend yield for the trailing twelve months is around 5.27%, more than RAFE's 1.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RAFE PIMCO RAFI ESG U.S. ETF | 1.47% | 1.67% | 1.79% | 1.81% | 2.22% | 1.42% | 2.36% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
STPZ PIMCO 1-5 Year US TIPS Index ETF | 5.27% | 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 RAFE have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RAFE has higher volatility (2.99%) compared to STPZ (0.46%). In terms of maximum drawdown, STPZ dropped -6.77% vs RAFE's -35.74%.
On 5-year performance, RAFE leads with 11.73% vs 2.62% for STPZ. On fees, STPZ is cheaper at 0.20% per year. On volatility, STPZ has been the lower-risk option at 0.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, RAFE has performed better with a 11.73% return vs 2.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
STPZ is cheaper with a 0.20% expense ratio, compared with 0.30% for RAFE.
STPZ has the higher dividend yield at 5.27%, compared with 1.47% for RAFE.
STPZ is categorized as Inflation-Protected Bonds, while RAFE is Large Cap Blend Equities. STPZ tracks ICE BofA US Inflation-Linked Treasury (1-5 Y), while RAFE tracks RAFI ESG US Index. Their fees differ too: 0.20% for STPZ and 0.30% for RAFE.
RAFE currently has the higher Sharpe Ratio (2.87 vs 1.40), 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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