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TDTF vs. SPIB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

TDTF vs. SPIB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF) and SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TDTF achieves a 1.01% return, which is significantly higher than SPIB's 0.13% return. Both investments have delivered pretty close results over the past 10 years, with TDTF having a 2.85% annualized return and SPIB not far behind at 2.81%.


TDTF

1D
-0.50%
1M
-0.80%
YTD
1.01%
6M
0.88%
1Y
4.54%
3Y*
4.35%
5Y*
1.61%
10Y*
2.85%

SPIB

1D
-0.45%
1M
-0.49%
YTD
0.13%
6M
0.44%
1Y
4.80%
3Y*
5.68%
5Y*
1.73%
10Y*
2.81%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TDTF vs. SPIB - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
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%1.93%
SPIB
SPDR Portfolio Intermediate Term Corporate Bond ETF
0.13%7.91%4.28%7.27%-9.65%-1.24%7.69%10.23%-0.49%3.76%

Correlation

The correlation between TDTF and SPIB is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.73

Correlation (3Y)
Calculated over the trailing 3-year period

0.82

Correlation (5Y)
Calculated over the trailing 5-year period

0.74

Correlation (10Y)
Calculated over the trailing 10-year period

0.69

Correlation (All Time)
Calculated using the full available price history since Sep 23, 2011

0.64

The correlation between TDTF and SPIB shifts across timeframes, from 0.64 (all time) to 0.82 (3 years), reflecting how their relationship changes across market environments.

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Return for Risk

TDTF vs. SPIB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TDTF
TDTF Risk / Return Rank: 5151
Overall Rank
TDTF Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
TDTF Sortino Ratio Rank: 4848
Sortino Ratio Rank
TDTF Omega Ratio Rank: 4444
Omega Ratio Rank
TDTF Calmar Ratio Rank: 6161
Calmar Ratio Rank
TDTF Martin Ratio Rank: 5858
Martin Ratio Rank

SPIB
SPIB Risk / Return Rank: 5252
Overall Rank
SPIB Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
SPIB Sortino Ratio Rank: 5555
Sortino Ratio Rank
SPIB Omega Ratio Rank: 5252
Omega Ratio Rank
SPIB Calmar Ratio Rank: 5050
Calmar Ratio Rank
SPIB Martin Ratio Rank: 5151
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TDTF vs. SPIB - 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 SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB). 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.


TDTFSPIBDifference
Sharpe ratioReturn per unit of total volatility

-0.20

Sortino ratioReturn per unit of downside risk

-0.30

Omega ratioGain probability vs. loss probability

1.27

1.31

-0.04

Calmar ratioReturn relative to maximum drawdown

2.88

2.38

+0.50

Martin ratioReturn relative to average drawdown

9.63

8.26

+1.37

TDTF vs. SPIB - Sharpe Ratio Comparison

The current TDTF Sharpe Ratio is 1.49, which is comparable to the SPIB Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of TDTF and SPIB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Sharpe Ratios by Period


TDTFSPIBDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.49

1.69

-0.20

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.28

0.39

-0.10

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.56

0.61

-0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.87

-0.41

Drawdowns

TDTF vs. SPIB - Drawdown Comparison

The maximum TDTF drawdown since its inception was -12.02%, smaller than the maximum SPIB drawdown of -14.94%. Use the drawdown chart below to compare losses from any high point for TDTF and SPIB.


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Drawdown Indicators


TDTFSPIBDifference

Max Drawdown

Largest peak-to-trough decline

-12.02%

-14.94%

+2.92%

Max Drawdown (1Y)

Largest decline over 1 year

-1.58%

-2.02%

+0.44%

Max Drawdown (3Y)

Largest decline over 3 years

-3.79%

-3.18%

-0.61%

Max Drawdown (5Y)

Largest decline over 5 years

-12.02%

-14.80%

+2.78%

Max Drawdown (10Y)

Largest decline over 10 years

-12.02%

-14.94%

+2.92%

Current Drawdown

Current decline from peak

-1.07%

-1.10%

+0.03%

Average Drawdown

Average peak-to-trough decline

-2.91%

-1.89%

-1.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.47%

0.58%

-0.11%

Volatility

TDTF vs. SPIB - Volatility Comparison

The current volatility for FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF) is 0.86%, while SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) has a volatility of 0.97%. This indicates that TDTF experiences smaller price fluctuations and is considered to be less risky than SPIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


TDTFSPIBDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.86%

0.97%

-0.11%

Volatility (6M)

Calculated over the trailing 6-month period

2.03%

2.13%

-0.10%

Volatility (1Y)

Calculated over the trailing 1-year period

3.08%

2.85%

+0.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.69%

4.47%

+1.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.07%

4.60%

+0.47%

TDTF vs. SPIB - Expense Ratio Comparison

TDTF has a 0.18% expense ratio, which is higher than SPIB'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. SPIB - Dividend Comparison

TDTF's dividend yield for the trailing twelve months is around 4.73%, more than SPIB's 4.47% yield.


PositionTTM20252024202320222021202020192018201720162015
SPIB
SPDR Portfolio Intermediate Term Corporate Bond ETF
4.47%4.42%4.41%3.84%2.65%1.58%2.18%3.03%3.04%2.79%2.68%2.69%
TDTF
FlexShares iBoxx 5-Year Target Duration TIPS Index Fund
4.73%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 SPIB have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPIB has higher volatility (0.97%) compared to TDTF (0.86%). In terms of maximum drawdown, TDTF dropped -12.02% vs SPIB's -14.94%.

On 10-year performance, TDTF leads with 2.85% vs 2.81% for SPIB. On fees, SPIB is cheaper at 0.07% per year. On volatility, TDTF has been the lower-risk option at 0.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, TDTF has performed better with a 2.85% return vs 2.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPIB is cheaper with a 0.07% expense ratio, compared with 0.18% for TDTF.

TDTF has the higher dividend yield at 4.73%, compared with 4.47% for SPIB.

TDTF is categorized as Inflation-Protected Bonds, while SPIB is Corporate Bonds. TDTF tracks iBoxx 5-Year Target Duration TIPS, while SPIB tracks Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate. They also come from different issuers: Northern Trust and State Street. Their fees differ too: 0.18% for TDTF and 0.07% for SPIB.

SPIB currently has the higher Sharpe Ratio (1.69 vs 1.49), 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.

Portfolio Optimizer

Find the right allocation for TDTF and SPIB

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