TIP vs. PAAIX
TIP (iShares TIPS Bond ETF) and PAAIX (PIMCO All Asset Fund) are both funds - TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index, while PAAIX is a Tactical Allocation fund managed by PIMCO. Over the past 10 years, TIP returned 2.53%/yr vs 7.08%/yr for PAAIX. At a 0.40 correlation, their price movements are largely independent. TIP charges 0.18%/yr vs 1.40%/yr for PAAIX.
Performance
TIP vs. PAAIX - 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 PAAIX's 8.96% return. Over the past 10 years, TIP has underperformed PAAIX with an annualized return of 2.53%, while PAAIX has yielded a comparatively higher 7.08% 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%
PAAIX
- 1D
- 0.64%
- 1M
- 1.72%
- YTD
- 8.96%
- 6M
- 9.68%
- 1Y
- 18.62%
- 3Y*
- 10.16%
- 5Y*
- 4.42%
- 10Y*
- 7.08%
TIP vs. PAAIX - 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% |
PAAIX PIMCO All Asset Fund | 8.96% | 13.20% | 4.12% | 8.19% | -11.52% | 15.61% | 8.38% | 12.21% | -4.97% | 13.99% |
Correlation
The correlation between TIP and PAAIX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Dec 5, 2003 | 0.40 |
The correlation between TIP and PAAIX shifts across timeframes, from 0.40 (all time) to 0.62 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TIP vs. PAAIX — Risk / Return Rank
TIP
PAAIX
TIP vs. PAAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares TIPS Bond ETF (TIP) and PIMCO All Asset Fund (PAAIX). 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 | PAAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.68 | ||
| Sortino ratioReturn per unit of downside risk | -2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.57 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 3.79 | -1.45 |
| Martin ratioReturn relative to average drawdown | 7.00 | 15.15 | -8.15 |
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Drawdowns
TIP vs. PAAIX - Drawdown Comparison
The maximum TIP drawdown since its inception was -14.57%, smaller than the maximum PAAIX drawdown of -27.59%. Use the drawdown chart below to compare losses from any high point for TIP and PAAIX.
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Drawdown Indicators
| TIP | PAAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.57% | -27.59% | +13.02% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -4.87% | +2.89% |
Max Drawdown (3Y)Largest decline over 3 years | -4.54% | -7.59% | +3.05% |
Max Drawdown (5Y)Largest decline over 5 years | -14.51% | -19.83% | +5.32% |
Max Drawdown (10Y)Largest decline over 10 years | -14.51% | -22.64% | +8.13% |
Current DrawdownCurrent decline from peak | -0.46% | -0.41% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -3.77% | +0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 1.21% | -0.55% |
Volatility
TIP vs. PAAIX - Volatility Comparison
The current volatility for iShares TIPS Bond ETF (TIP) is 1.03%, while PIMCO All Asset Fund (PAAIX) has a volatility of 2.20%. This indicates that TIP experiences smaller price fluctuations and is considered to be less risky than PAAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIP | PAAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 2.20% | -1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.32% | 4.75% | -2.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.39% | 6.06% | -2.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.21% | 7.79% | -1.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.74% | 7.79% | -2.05% |
TIP vs. PAAIX - Expense Ratio Comparison
TIP has a 0.18% expense ratio, which is lower than PAAIX's 1.40% expense ratio.
Dividends
TIP vs. PAAIX - Dividend Comparison
TIP's dividend yield for the trailing twelve months is around 3.76%, less than PAAIX's 8.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAAIX PIMCO All Asset Fund | 8.08% | 7.12% | 5.92% | 3.20% | 7.68% | 11.90% | 3.56% | 3.33% | 5.50% | 4.48% | 3.60% | 3.93% |
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 PAAIX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PAAIX has higher volatility (2.20%) compared to TIP (1.03%). In terms of maximum drawdown, TIP dropped -14.57% vs PAAIX's -27.59%.
PAAIX currently has the higher Sharpe Ratio (3.05 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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