TDTF vs. PBTP
TDTF (FlexShares iBoxx 5-Year Target Duration TIPS Index Fund) and PBTP (Invesco PureBeta 0-5 Yr US TIPS ETF) are both Inflation-Protected Bonds funds - TDTF tracks the iBoxx 5-Year Target Duration TIPS while PBTP tracks the ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y). Both are passively managed. Over the past 5 years, TDTF returned 1.18%/yr vs 3.08%/yr for PBTP. Their 0.78 correlation means they have sometimes moved together and sometimes differently. TDTF charges 0.18%/yr vs 0.07%/yr for PBTP.
Performance
TDTF vs. PBTP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TDTF achieves a 1.01% return, which is significantly lower than PBTP's 1.84% return.
TDTF
- 1D
- 0.11%
- 1M
- -0.12%
- 6M
- 0.53%
- YTD
- 1.01%
- 1Y
- 2.01%
- 3Y*
- 4.41%
- 5Y*
- 1.18%
- 10Y*
- 2.82%
- ALL TIME*
- 2.23%
PBTP
- 1D
- 0.00%
- 1M
- 0.06%
- 6M
- 1.37%
- YTD
- 1.84%
- 1Y
- 2.91%
- 3Y*
- 4.97%
- 5Y*
- 3.08%
- 10Y*
- —
- ALL TIME*
- 3.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.57M | $1.28M | $1.28M | |
| $3.31M | $3.20M | $4.11M |
TDTF vs. PBTP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund | 1.01% | 7.83% | 2.40% | 4.10% | -9.73% | 5.54% | 9.98% | 7.99% | -0.82% | 0.53% |
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 1.84% | 5.98% | 4.72% | 4.53% | -3.02% | 5.51% | 4.89% | 4.72% | 0.59% | 0.04% |
Correlation
The correlation between TDTF and PBTP is 0.80, 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. | 0.80 |
Correlation (3Y) Balances recent behavior with more history. | 0.84 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2017 | 0.78 |
The correlation between TDTF and PBTP shifts across timeframes, from 0.78 (all time) to 0.88 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TDTF vs. PBTP — Risk / Return Rank
TDTF
PBTP
TDTF vs. PBTP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF) 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.
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.
| TDTF | PBTP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.38 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 3.84 | -2.56 |
| Martin ratioReturn relative to average drawdown | 3.21 | 11.80 | -8.59 |
Loading charts...
Drawdowns
TDTF vs. PBTP - Drawdown Comparison
The maximum TDTF drawdown since its inception was -12.02%, which is greater than PBTP's maximum drawdown of -5.44%. Use the drawdown chart below to compare losses from any high point for TDTF and PBTP.
Loading charts...
Drawdown Indicators
| TDTF | PBTP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.02% | -5.44% | -6.58% |
Max Drawdown (1Y)Largest decline over 1 year | -1.58% | -0.76% | -0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -3.40% | -1.03% | -2.37% |
Max Drawdown (5Y)Largest decline over 5 years | -12.02% | -5.44% | -6.58% |
Max Drawdown (10Y)Largest decline over 10 years | -12.02% | — | — |
Current DrawdownCurrent decline from peak | -1.07% | -0.32% | -0.75% |
Average DrawdownAverage peak-to-trough decline | -2.89% | -0.74% | -2.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 0.25% | +0.38% |
Volatility
TDTF vs. PBTP - Volatility Comparison
FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF) has a higher volatility of 0.71% compared to Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) at 0.36%. This indicates that TDTF's price experiences larger fluctuations and is considered to be riskier than PBTP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TDTF | PBTP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 0.36% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 2.27% | 1.16% | +1.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.01% | 1.54% | +1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.68% | 2.84% | +2.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.07% | 2.63% | +2.44% |
TDTF vs. PBTP - Expense Ratio Comparison
TDTF has a 0.18% expense ratio, which is higher than PBTP's 0.07% 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
TDTF vs. PBTP - Dividend Comparison
TDTF's dividend yield for the trailing twelve months is around 5.84%, more than PBTP's 4.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 4.80% | 3.82% | 2.59% | 2.36% | 5.33% | 3.12% | 1.25% | 2.12% | 2.33% | 0.73% | 0.00% | 0.00% |
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund | 5.84% | 4.58% | 3.98% | 3.97% | 7.60% | 4.55% | 1.13% | 1.80% | 2.60% | 2.20% | 1.51% | 0.21% |
Frequently Asked Questions
TDTF and PBTP have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TDTF has higher volatility (0.71%) compared to PBTP (0.36%). In terms of maximum drawdown, TDTF dropped -12.02% vs PBTP's -5.44%.
On 5-year performance, PBTP leads with 3.08% vs 1.18% for TDTF. On fees, PBTP is cheaper at 0.07% per year. On volatility, PBTP has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PBTP has performed better with a 3.08% return vs 1.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PBTP is cheaper with a 0.07% expense ratio, compared with 0.18% for TDTF.
TDTF has the higher dividend yield at 5.84%, compared with 4.80% for PBTP.
TDTF tracks iBoxx 5-Year Target Duration TIPS, while PBTP tracks ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y). They also come from different issuers: Northern Trust and Invesco. Their fees differ too: 0.18% for TDTF and 0.07% for PBTP.
PBTP currently has the higher Sharpe Ratio (1.90 vs 0.67), 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.
Find the right allocation for TDTF and PBTP
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer