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TIP vs. ^FVX
Performance
Return for Risk
Drawdowns
Volatility

TIP vs. ^FVX

Last updated Jun 4, 2026

TIP (iShares TIPS Bond ETF) is Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index, while ^FVX (Treasury Yield 5 Years) is an index. Over the past 10 years, TIP returned 2.57%/yr vs 12.99%/yr for ^FVX. At a correlation of -0.68, they often move in opposite directions.

Performance

TIP vs. ^FVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares TIPS Bond ETF (TIP) and Treasury Yield 5 Years (^FVX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, TIP achieves a 1.54% return, which is significantly lower than ^FVX's 12.22% return. Over the past 10 years, TIP has underperformed ^FVX with an annualized return of 2.57%, while ^FVX has yielded a comparatively higher 12.99% annualized return.

TIP

1D
-0.18%
1M
-0.09%
YTD
1.54%
6M
1.06%
1Y
4.96%
3Y*
3.88%
5Y*
0.97%
10Y*
2.57%

^FVX

1D
-0.22%
1M
2.05%
YTD
12.22%
6M
15.26%
1Y
3.70%
3Y*
2.83%
5Y*
37.66%
10Y*
12.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TIP vs. ^FVX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TIP
iShares TIPS Bond ETF		1.54%6.77%1.65%3.80%-12.26%5.68%10.84%8.35%-1.42%2.92%
^FVX
Treasury Yield 5 Years		12.22%-15.02%14.06%-4.00%216.71%249.86%-78.68%-32.55%13.78%14.06%

Correlation

The correlation between TIP and ^FVX is -0.78, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

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

-0.78

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

-0.82

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

-0.71

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

-0.67

Correlation (All Time)
Calculated using the full available price history since Dec 8, 2003

-0.68

The correlation between TIP and ^FVX shifts across timeframes, from -0.82 (3 years) to -0.67 (10 years), reflecting how their relationship changes across market environments.

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iShares TIPS Bond ETF

Treasury Yield 5 Years

Often compared with TIP:
TIP vs. SCHPTIP vs. VTIPTIP vs. SGOVTIP vs. STIPTIP vs. FIPDXTIP vs. BNDTIP vs. IEF
Often compared with ^FVX:
^FVX vs. ^TNX^FVX vs. UVIX^FVX vs. OIL.NS^FVX vs. VOO^FVX vs. ES=F^FVX vs. SPY^FVX vs. VCSH

Return for Risk

TIP vs. ^FVX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TIP
TIP Risk / Return Rank: 4444
Overall Rank
TIP Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
TIP Sortino Ratio Rank: 4444
Sortino Ratio Rank
TIP Omega Ratio Rank: 3939
Omega Ratio Rank
TIP Calmar Ratio Rank: 5050
Calmar Ratio Rank
TIP Martin Ratio Rank: 4545
Martin Ratio Rank
^FVX
^FVX Risk / Return Rank: 1919
Overall Rank
^FVX Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
^FVX Sortino Ratio Rank: 1818
Sortino Ratio Rank
^FVX Omega Ratio Rank: 1818
Omega Ratio Rank
^FVX Calmar Ratio Rank: 2020
Calmar Ratio Rank
^FVX Martin Ratio Rank: 1818
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.

TIP vs. ^FVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares TIPS Bond ETF (TIP) and Treasury Yield 5 Years (^FVX). 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.

TIP^FVXDifference
Sharpe ratioReturn per unit of total volatility
1.46
0.21

+1.25

Sortino ratioReturn per unit of downside risk
2.24
0.43

+1.81

Omega ratioGain probability vs. loss probability

1.26

1.05

+0.21

Calmar ratioReturn relative to maximum drawdown

2.52

0.27

+2.25

Martin ratioReturn relative to average drawdown

7.57

0.47

+7.10

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TIP vs. ^FVX - Sharpe Ratio Comparison

The current TIP Sharpe Ratio is 1.46, which is higher than the ^FVX Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of TIP and ^FVX, 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

TIP^FVXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.46

0.21

+1.25

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.16

0.98

-0.82

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

0.22

+0.23

Sharpe Ratio (All Time)

Calculated using the full available price history

0.57

-0.01

+0.58

Drawdowns

TIP vs. ^FVX - Drawdown Comparison

The maximum TIP drawdown since its inception was -14.57%, smaller than the maximum ^FVX drawdown of -97.53%. Use the drawdown chart below to compare losses from any high point for TIP and ^FVX.

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Drawdown Indicators

TIP^FVXDifference

Max Drawdown

Largest peak-to-trough decline

-14.57%

-97.53%

+82.96%

Max Drawdown (1Y)

Largest decline over 1 year

-1.98%

-14.88%

+12.90%

Max Drawdown (3Y)

Largest decline over 3 years

-4.54%

-31.36%

+26.82%

Max Drawdown (5Y)

Largest decline over 5 years

-14.51%

-31.36%

+16.85%

Max Drawdown (10Y)

Largest decline over 10 years

-14.51%

-93.69%

+79.18%

Current Drawdown

Current decline from peak

-0.32%

-47.10%

+46.78%

Average Drawdown

Average peak-to-trough decline

-3.43%

-56.54%

+53.11%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.66%

8.52%

-7.86%

Volatility

TIP vs. ^FVX - Volatility Comparison

The current volatility for iShares TIPS Bond ETF (TIP) is 0.89%, while Treasury Yield 5 Years (^FVX) has a volatility of 5.99%. This indicates that TIP experiences smaller price fluctuations and is considered to be less risky than ^FVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TIP^FVXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.89%

5.99%

-5.10%

Volatility (6M)

Calculated over the trailing 6-month period

2.29%

13.21%

-10.92%

Volatility (1Y)

Calculated over the trailing 1-year period

3.41%

18.75%

-15.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.21%

38.75%

-32.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.74%

58.61%

-52.87%

Frequently Asked Questions

TIP and ^FVX have a correlation of -0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

^FVX has higher volatility (5.99%) compared to TIP (0.89%). In terms of maximum drawdown, TIP dropped -14.57% vs ^FVX's -97.53%.

TIP currently has the higher Sharpe Ratio (1.46 vs 0.21), 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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