TIP vs. IAUM
TIP (iShares TIPS Bond ETF) and IAUM (iShares Gold Trust Micro) are both exchange-traded funds - TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index, while IAUM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 3 years, TIP returned 3.70%/yr vs 30.12%/yr for IAUM. At a 0.36 correlation, their price movements are largely independent. TIP charges 0.18%/yr vs 0.09%/yr for IAUM.
Performance
TIP vs. IAUM - Performance Comparison
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Returns By Period
In the year-to-date period, TIP achieves a 0.95% return, which is significantly higher than IAUM's 0.28% 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%
IAUM
- 1D
- 0.21%
- 1M
- -8.41%
- YTD
- 0.28%
- 6M
- 3.16%
- 1Y
- 30.56%
- 3Y*
- 30.12%
- 5Y*
- —
- 10Y*
- —
TIP vs. IAUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TIP iShares TIPS Bond ETF | 0.95% | 6.77% | 1.65% | 3.80% | -12.26% | 4.28% |
IAUM iShares Gold Trust Micro | 0.28% | 64.27% | 27.04% | 13.12% | -0.49% | 3.87% |
Correlation
The correlation between TIP and IAUM is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2021 | 0.36 |
The correlation between TIP and IAUM shifts across timeframes, from 0.24 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TIP vs. IAUM — Risk / Return Rank
TIP
IAUM
TIP vs. IAUM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares TIPS Bond ETF (TIP) and iShares Gold Trust Micro (IAUM). 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 | IAUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.23 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 1.53 | +0.91 |
| Martin ratioReturn relative to average drawdown | 7.37 | 3.84 | +3.53 |
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 | IAUM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.43 | 1.16 | +0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 1.11 | -0.55 |
Drawdowns
TIP vs. IAUM - Drawdown Comparison
The maximum TIP drawdown since its inception was -14.57%, smaller than the maximum IAUM drawdown of -20.87%. Use the drawdown chart below to compare losses from any high point for TIP and IAUM.
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Drawdown Indicators
| TIP | IAUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.57% | -20.87% | +6.30% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -20.02% | +18.04% |
Max Drawdown (3Y)Largest decline over 3 years | -4.54% | -20.02% | +15.48% |
Max Drawdown (5Y)Largest decline over 5 years | -14.51% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.51% | — | — |
Current DrawdownCurrent decline from peak | -0.90% | -19.85% | +18.95% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -5.33% | +1.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 7.98% | -7.33% |
Volatility
TIP vs. IAUM - Volatility Comparison
The current volatility for iShares TIPS Bond ETF (TIP) is 1.01%, while iShares Gold Trust Micro (IAUM) has a volatility of 5.64%. This indicates that TIP experiences smaller price fluctuations and is considered to be less risky than IAUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIP | IAUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 5.64% | -4.63% |
Volatility (6M)Calculated over the trailing 6-month period | 2.33% | 23.20% | -20.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.38% | 26.57% | -23.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.21% | 17.92% | -11.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.74% | 17.92% | -12.18% |
TIP vs. IAUM - Expense Ratio Comparison
TIP has a 0.18% expense ratio, which is higher than IAUM's 0.09% 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
TIP vs. IAUM - Dividend Comparison
TIP's dividend yield for the trailing twelve months is around 3.78%, while IAUM has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAUM iShares Gold Trust Micro | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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 IAUM have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAUM has higher volatility (5.64%) compared to TIP (1.01%). In terms of maximum drawdown, TIP dropped -14.57% vs IAUM's -20.87%.
On 3-year performance, IAUM leads with 30.12% vs 3.70% for TIP. On fees, IAUM is cheaper at 0.09% 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 3-year period, IAUM has performed better with a 30.12% return vs 3.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAUM is cheaper with a 0.09% expense ratio, compared with 0.18% for TIP.
TIP has the higher dividend yield at 3.78%, compared with 0.00% for IAUM.
TIP is categorized as Inflation-Protected Bonds, while IAUM is Gold. TIP tracks ICE U.S. Treasury Inflation Linked Bond Index, while IAUM tracks LBMA Gold Price PM. Their fees differ too: 0.18% for TIP and 0.09% for IAUM.
TIP currently has the higher Sharpe Ratio (1.43 vs 1.16), 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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