TIP vs. AMLP
TIP (iShares TIPS Bond ETF) and AMLP (Alerian MLP ETF) are both exchange-traded funds - TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index, while AMLP is a MLPs fund tracking the Alerian MLP Infrastructure Index. Both are passively managed. Over the past 10 years, TIP returned 2.45%/yr vs 6.78%/yr for AMLP. At a 0.01 correlation, their price movements are largely independent. TIP charges 0.18%/yr vs 0.90%/yr for AMLP.
Performance
TIP vs. AMLP - Performance Comparison
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Returns By Period
In the year-to-date period, TIP achieves a 0.95% return, which is significantly lower than AMLP's 16.31% return. Over the past 10 years, TIP has underperformed AMLP with an annualized return of 2.45%, while AMLP has yielded a comparatively higher 6.78% annualized return.
TIP
- 1D
- -0.11%
- 1M
- -0.90%
- YTD
- 0.95%
- 6M
- 0.97%
- 1Y
- 4.81%
- 3Y*
- 3.70%
- 5Y*
- 0.88%
- 10Y*
- 2.45%
AMLP
- 1D
- -0.34%
- 1M
- 0.85%
- YTD
- 16.31%
- 6M
- 14.77%
- 1Y
- 16.94%
- 3Y*
- 20.19%
- 5Y*
- 16.09%
- 10Y*
- 6.78%
TIP vs. AMLP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIP iShares TIPS Bond ETF | 0.95% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 10.84% | 8.35% | -1.42% | 2.92% |
AMLP Alerian MLP ETF | 16.31% | 5.78% | 22.76% | 21.40% | 25.47% | 39.09% | -32.26% | 5.99% | -12.67% | -7.89% |
Correlation
The correlation between TIP and AMLP is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Aug 26, 2010 | 0.01 |
The correlation between TIP and AMLP shifts across timeframes, from -0.04 (1 year) to 0.10 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TIP vs. AMLP — Risk / Return Rank
TIP
AMLP
TIP vs. AMLP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares TIPS Bond ETF (TIP) and Alerian MLP ETF (AMLP). 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 | AMLP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.25 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 1.90 | +0.54 |
| Martin ratioReturn relative to average drawdown | 7.37 | 6.26 | +1.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TIP | AMLP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.43 | 1.45 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.81 | -0.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.25 | +0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.22 | +0.34 |
Drawdowns
TIP vs. AMLP - Drawdown Comparison
The maximum TIP drawdown since its inception was -14.57%, smaller than the maximum AMLP drawdown of -77.19%. Use the drawdown chart below to compare losses from any high point for TIP and AMLP.
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Drawdown Indicators
| TIP | AMLP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.57% | -77.19% | +62.62% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -8.94% | +6.96% |
Max Drawdown (3Y)Largest decline over 3 years | -4.54% | -14.27% | +9.73% |
Max Drawdown (5Y)Largest decline over 5 years | -14.51% | -20.92% | +6.41% |
Max Drawdown (10Y)Largest decline over 10 years | -14.51% | -72.62% | +58.11% |
Current DrawdownCurrent decline from peak | -0.90% | -4.10% | +3.20% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -17.39% | +13.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 2.71% | -2.06% |
Volatility
TIP vs. AMLP - Volatility Comparison
The current volatility for iShares TIPS Bond ETF (TIP) is 1.01%, while Alerian MLP ETF (AMLP) has a volatility of 4.58%. This indicates that TIP experiences smaller price fluctuations and is considered to be less risky than AMLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIP | AMLP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 4.58% | -3.57% |
Volatility (6M)Calculated over the trailing 6-month period | 2.33% | 8.64% | -6.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.38% | 11.78% | -8.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.21% | 19.97% | -13.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.74% | 27.68% | -21.94% |
TIP vs. AMLP - Expense Ratio Comparison
TIP has a 0.18% expense ratio, which is lower than AMLP's 0.90% expense ratio.
Dividends
TIP vs. AMLP - Dividend Comparison
TIP's dividend yield for the trailing twelve months is around 3.78%, less than AMLP's 7.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMLP Alerian MLP ETF | 7.64% | 8.36% | 7.70% | 7.86% | 7.70% | 8.55% | 12.31% | 9.12% | 9.29% | 7.97% | 8.09% | 9.84% |
TIP iShares TIPS Bond ETF | 3.78% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
Frequently Asked Questions
TIP and AMLP have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AMLP has higher volatility (4.58%) compared to TIP (1.01%). In terms of maximum drawdown, TIP dropped -14.57% vs AMLP's -77.19%.
On 10-year performance, AMLP leads with 6.78% vs 2.45% for TIP. On fees, TIP is cheaper at 0.18% per year. On volatility, TIP has been the lower-risk option at 1.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, AMLP has performed better with a 6.78% return vs 2.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TIP is cheaper with a 0.18% expense ratio, compared with 0.90% for AMLP.
AMLP has the higher dividend yield at 7.64%, compared with 3.78% for TIP.
TIP is categorized as Inflation-Protected Bonds, while AMLP is MLPs. TIP tracks ICE U.S. Treasury Inflation Linked Bond Index, while AMLP tracks Alerian MLP Infrastructure Index. They also come from different issuers: iShares and SS&C. Their fees differ too: 0.18% for TIP and 0.90% for AMLP.
AMLP currently has the higher Sharpe Ratio (1.45 vs 1.43), 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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