TDTF vs. SPIB
TDTF (FlexShares iBoxx 5-Year Target Duration TIPS Index Fund) and SPIB (SPDR Portfolio Intermediate Term Corporate Bond ETF) are both exchange-traded funds - TDTF is a Inflation-Protected Bonds fund tracking the iBoxx 5-Year Target Duration TIPS, while SPIB is a Corporate Bonds fund tracking the Bloomberg U.S. Intermediate Corporate Bond Index. Both are passively managed. Over the past 10 years, TDTF returned 2.82%/yr vs 2.73%/yr for SPIB. Their 0.64 correlation means they have sometimes moved together and sometimes differently. TDTF charges 0.18%/yr vs 0.04%/yr for SPIB.
Performance
TDTF vs. SPIB - Performance Comparison
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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 0.68% return. Both investments have delivered pretty close results over the past 10 years, with TDTF having a 2.82% annualized return and SPIB not far behind at 2.73%.
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%
SPIB
- 1D
- 0.33%
- 1M
- -0.19%
- 6M
- 0.47%
- YTD
- 0.68%
- 1Y
- 3.10%
- 3Y*
- 5.77%
- 5Y*
- 1.62%
- 10Y*
- 2.73%
- ALL TIME*
- 3.78%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $206.12M | $185.13M | $231.03M | |
| $3.31M | $3.20M | $4.11M |
TDTF vs. SPIB - 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% | 1.93% |
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF | 0.68% | 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 0.70, 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. | 0.70 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2011 | 0.64 |
The correlation between TDTF and SPIB shifts across timeframes, from 0.64 (all time) to 0.81 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TDTF vs. SPIB — Risk / Return Rank
TDTF
SPIB
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.
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 | SPIB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.20 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 1.54 | -0.26 |
| Martin ratioReturn relative to average drawdown | 3.21 | 4.74 | -1.52 |
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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
| TDTF | SPIB | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 | -3.40% | -2.90% | -0.50% |
Max Drawdown (5Y)Largest decline over 5 years | -12.02% | -14.60% | +2.58% |
Max Drawdown (10Y)Largest decline over 10 years | -12.02% | -14.94% | +2.92% |
Current DrawdownCurrent decline from peak | -1.07% | -0.56% | -0.51% |
Average DrawdownAverage peak-to-trough decline | -2.89% | -1.89% | -1.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 0.66% | -0.03% |
Volatility
TDTF vs. SPIB - Volatility Comparison
The current volatility for FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF) is 0.71%, while SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) has a volatility of 0.84%. 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
| TDTF | SPIB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 0.84% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.27% | 2.31% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.01% | 2.79% | +0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.68% | 4.49% | +1.19% |
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 0.04% 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 5.84%, more than SPIB's 4.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF | 4.49% | 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 | 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 SPIB have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPIB has higher volatility (0.84%) compared to TDTF (0.71%). In terms of maximum drawdown, TDTF dropped -12.02% vs SPIB's -14.94%.
On 10-year performance, TDTF leads with 2.82% vs 2.73% for SPIB. On fees, SPIB is cheaper at 0.04% per year. On volatility, TDTF has been the lower-risk option at 0.71%. 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 2.82% return vs 2.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPIB is cheaper with a 0.04% expense ratio, compared with 0.18% for TDTF.
TDTF has the higher dividend yield at 5.84%, compared with 4.49% 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 U.S. Intermediate Corporate Bond Index. They also come from different issuers: Northern Trust and State Street. Their fees differ too: 0.18% for TDTF and 0.04% for SPIB.
SPIB currently has the higher Sharpe Ratio (1.12 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.
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