TIP vs. PBTP
Compare and contrast key facts about iShares TIPS Bond ETF (TIP) and Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP).
TIP and PBTP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TIP is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L). It was launched on Dec 4, 2003. PBTP is a passively managed fund by Invesco that tracks the performance of the ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y). It was launched on Sep 22, 2017. Both TIP and PBTP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
TIP vs. PBTP - Performance Comparison
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TIP vs. PBTP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIP iShares TIPS Bond ETF | 0.41% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 10.84% | 8.35% | -1.42% | 0.86% |
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 1.05% | 5.98% | 4.72% | 4.53% | -3.02% | 5.51% | 4.89% | 4.72% | 0.59% | 0.04% |
Returns By Period
In the year-to-date period, TIP achieves a 0.41% return, which is significantly lower than PBTP's 1.05% return.
TIP
- 1D
- 0.01%
- 1M
- -1.36%
- YTD
- 0.41%
- 6M
- 0.33%
- 1Y
- 2.82%
- 3Y*
- 2.98%
- 5Y*
- 1.24%
- 10Y*
- 2.49%
PBTP
- 1D
- 0.04%
- 1M
- 0.10%
- YTD
- 1.05%
- 6M
- 1.35%
- 1Y
- 3.94%
- 3Y*
- 4.63%
- 5Y*
- 3.45%
- 10Y*
- —
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TIP vs. PBTP - Expense Ratio Comparison
TIP has a 0.19% expense ratio, which is higher than PBTP's 0.07% 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%.
Return for Risk
TIP vs. PBTP — Risk / Return Rank
TIP
PBTP
TIP vs. PBTP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares TIPS Bond ETF (TIP) and Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP). 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 | PBTP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.68 | 2.01 | -1.32 |
Sortino ratioReturn per unit of downside risk | 0.95 | 3.02 | -2.07 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.43 | -0.31 |
Calmar ratioReturn relative to maximum drawdown | 1.18 | 3.91 | -2.73 |
Martin ratioReturn relative to average drawdown | 3.44 | 12.96 | -9.52 |
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 | PBTP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.68 | 2.01 | -1.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 1.21 | -1.01 |
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 | 1.27 | -0.70 |
Correlation
The correlation between TIP and PBTP is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
TIP vs. PBTP - Dividend Comparison
TIP's dividend yield for the trailing twelve months is around 3.45%, more than PBTP's 3.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TIP iShares TIPS Bond ETF | 3.45% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 3.14% | 3.82% | 2.59% | 2.36% | 5.33% | 3.12% | 1.25% | 2.12% | 2.33% | 0.73% | 0.00% | 0.00% |
Drawdowns
TIP vs. PBTP - Drawdown Comparison
The maximum TIP drawdown since its inception was -14.57%, which is greater than PBTP's maximum drawdown of -5.44%. Use the drawdown chart below to compare losses from any high point for TIP and PBTP.
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Drawdown Indicators
| TIP | PBTP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.57% | -5.44% | -9.13% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -1.03% | -1.71% |
Max Drawdown (5Y)Largest decline over 5 years | -14.51% | -5.44% | -9.07% |
Max Drawdown (10Y)Largest decline over 10 years | -14.51% | — | — |
Current DrawdownCurrent decline from peak | -1.36% | -0.24% | -1.12% |
Average DrawdownAverage peak-to-trough decline | -3.46% | -0.77% | -2.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.31% | +0.63% |
Volatility
TIP vs. PBTP - Volatility Comparison
iShares TIPS Bond ETF (TIP) has a higher volatility of 1.41% compared to Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) at 0.56%. This indicates that TIP's price experiences larger fluctuations and is considered to be riskier than PBTP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIP | PBTP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 0.56% | +0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 2.35% | 1.05% | +1.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.17% | 1.97% | +2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.23% | 2.86% | +3.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.75% | 2.66% | +3.09% |