TIP vs. EGRIX
TIP (iShares TIPS Bond ETF) and EGRIX (Eaton Vance Global Macro Absolute Return Advantage Fund) are both funds - TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index, while EGRIX is a Nontraditional Bonds fund managed by Eaton Vance. Over the past 10 years, TIP returned 2.53%/yr vs 6.53%/yr for EGRIX. At a correlation of -0.07, they often move in opposite directions. TIP charges 0.18%/yr vs 1.05%/yr for EGRIX.
Performance
TIP vs. EGRIX - Performance Comparison
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Returns By Period
In the year-to-date period, TIP achieves a 1.40% return, which is significantly lower than EGRIX's 6.76% return. Over the past 10 years, TIP has underperformed EGRIX with an annualized return of 2.53%, while EGRIX has yielded a comparatively higher 6.53% annualized return.
TIP
- 1D
- 0.01%
- 1M
- 0.25%
- YTD
- 1.40%
- 6M
- 1.42%
- 1Y
- 4.76%
- 3Y*
- 4.00%
- 5Y*
- 0.91%
- 10Y*
- 2.53%
EGRIX
- 1D
- 0.32%
- 1M
- 0.89%
- YTD
- 6.76%
- 6M
- 8.31%
- 1Y
- 18.75%
- 3Y*
- 13.23%
- 5Y*
- 8.64%
- 10Y*
- 6.53%
TIP vs. EGRIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIP iShares TIPS Bond ETF | 1.40% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 10.84% | 8.35% | -1.42% | 2.92% |
EGRIX Eaton Vance Global Macro Absolute Return Advantage Fund | 6.76% | 20.36% | 9.50% | 8.37% | -1.94% | 3.66% | 4.71% | 14.80% | -8.34% | 5.78% |
Correlation
The correlation between TIP and EGRIX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Sep 1, 2010 | -0.07 |
The correlation between TIP and EGRIX shifts across timeframes, from -0.07 (all time) to 0.28 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TIP vs. EGRIX — Risk / Return Rank
TIP
EGRIX
TIP vs. EGRIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares TIPS Bond ETF (TIP) and Eaton Vance Global Macro Absolute Return Advantage Fund (EGRIX). 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.
| TIP | EGRIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.99 | ||
| Sortino ratioReturn per unit of downside risk | -5.53 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 2.42 | -1.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 5.66 | -3.32 |
| Martin ratioReturn relative to average drawdown | 7.00 | 20.46 | -13.46 |
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Drawdowns
TIP vs. EGRIX - Drawdown Comparison
The maximum TIP drawdown since its inception was -14.57%, roughly equal to the maximum EGRIX drawdown of -14.17%. Use the drawdown chart below to compare losses from any high point for TIP and EGRIX.
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Drawdown Indicators
| TIP | EGRIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.57% | -14.17% | -0.40% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -3.37% | +1.39% |
Max Drawdown (3Y)Largest decline over 3 years | -4.54% | -3.37% | -1.17% |
Max Drawdown (5Y)Largest decline over 5 years | -14.51% | -10.18% | -4.33% |
Max Drawdown (10Y)Largest decline over 10 years | -14.51% | -14.17% | -0.34% |
Current DrawdownCurrent decline from peak | -0.46% | -0.08% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -1.84% | -1.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.93% | -0.27% |
Volatility
TIP vs. EGRIX - Volatility Comparison
iShares TIPS Bond ETF (TIP) has a higher volatility of 1.03% compared to Eaton Vance Global Macro Absolute Return Advantage Fund (EGRIX) at 0.86%. This indicates that TIP's price experiences larger fluctuations and is considered to be riskier than EGRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIP | EGRIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 0.86% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.32% | 3.20% | -0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.39% | 3.55% | -0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.21% | 4.03% | +2.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.74% | 3.97% | +1.77% |
TIP vs. EGRIX - Expense Ratio Comparison
TIP has a 0.18% expense ratio, which is lower than EGRIX's 1.05% expense ratio.
Dividends
TIP vs. EGRIX - Dividend Comparison
TIP's dividend yield for the trailing twelve months is around 3.76%, less than EGRIX's 6.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EGRIX Eaton Vance Global Macro Absolute Return Advantage Fund | 6.23% | 6.65% | 6.00% | 3.40% | 4.82% | 4.89% | 5.82% | 4.15% | 0.06% | 3.22% | 1.78% | 6.67% |
TIP iShares TIPS Bond ETF | 3.76% | 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 EGRIX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TIP has higher volatility (1.03%) compared to EGRIX (0.86%). In terms of maximum drawdown, TIP dropped -14.57% vs EGRIX's -14.17%.
EGRIX currently has the higher Sharpe Ratio (5.36 vs 1.37), 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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