TIP vs. TFLO
TIP (iShares TIPS Bond ETF) and TFLO (iShares Treasury Floating Rate Bond ETF) are both exchange-traded funds - TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index, while TFLO is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Index. Both are passively managed. Over the past 10 years, TIP returned 2.53%/yr vs 2.37%/yr for TFLO. At a correlation of -0.00, they often move in opposite directions. TIP charges 0.18%/yr vs 0.15%/yr for TFLO.
Performance
TIP vs. TFLO - 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 TFLO's 1.71% return. Over the past 10 years, TIP has outperformed TFLO with an annualized return of 2.53%, while TFLO has yielded a comparatively lower 2.37% 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%
TFLO
- 1D
- 0.02%
- 1M
- 0.31%
- YTD
- 1.71%
- 6M
- 1.90%
- 1Y
- 3.99%
- 3Y*
- 4.74%
- 5Y*
- 3.66%
- 10Y*
- 2.37%
TIP vs. TFLO - 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% |
TFLO iShares Treasury Floating Rate Bond ETF | 1.71% | 4.22% | 5.34% | 5.12% | 1.99% | -0.02% | 0.43% | 2.04% | 1.76% | 1.01% |
Correlation
The correlation between TIP and TFLO is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | -0.00 |
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Return for Risk
TIP vs. TFLO — Risk / Return Rank
TIP
TFLO
TIP vs. TFLO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares TIPS Bond ETF (TIP) and iShares Treasury Floating Rate Bond ETF (TFLO). 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 | TFLO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -12.91 | ||
| Sortino ratioReturn per unit of downside risk | -49.27 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 14.07 | -12.83 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 203.31 | -200.97 |
| Martin ratioReturn relative to average drawdown | 7.00 | 831.79 | -824.79 |
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Drawdowns
TIP vs. TFLO - Drawdown Comparison
The maximum TIP drawdown since its inception was -14.57%, which is greater than TFLO's maximum drawdown of -5.01%. Use the drawdown chart below to compare losses from any high point for TIP and TFLO.
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Drawdown Indicators
| TIP | TFLO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.57% | -5.01% | -9.56% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -0.02% | -1.96% |
Max Drawdown (3Y)Largest decline over 3 years | -4.54% | -0.04% | -4.50% |
Max Drawdown (5Y)Largest decline over 5 years | -14.51% | -0.13% | -14.38% |
Max Drawdown (10Y)Largest decline over 10 years | -14.51% | -0.16% | -14.35% |
Current DrawdownCurrent decline from peak | -0.46% | 0.00% | -0.46% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -0.10% | -3.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.00% | +0.66% |
Volatility
TIP vs. TFLO - Volatility Comparison
iShares TIPS Bond ETF (TIP) has a higher volatility of 1.03% compared to iShares Treasury Floating Rate Bond ETF (TFLO) at 0.07%. This indicates that TIP's price experiences larger fluctuations and is considered to be riskier than TFLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIP | TFLO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 0.07% | +0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 2.32% | 0.20% | +2.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.39% | 0.28% | +3.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.21% | 0.35% | +5.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.74% | 0.45% | +5.29% |
TIP vs. TFLO - Expense Ratio Comparison
TIP has a 0.18% expense ratio, which is higher than TFLO's 0.15% 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. TFLO - Dividend Comparison
TIP's dividend yield for the trailing twelve months is around 3.76%, less than TFLO's 3.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TFLO iShares Treasury Floating Rate Bond ETF | 3.89% | 4.16% | 5.21% | 4.88% | 1.68% | 0.00% | 0.36% | 2.08% | 1.65% | 0.86% | 0.31% | 0.15% |
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 TFLO have a correlation of -0.05, 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 TFLO (0.07%). In terms of maximum drawdown, TIP dropped -14.57% vs TFLO's -5.01%.
On 10-year performance, TIP leads with 2.53% vs 2.37% for TFLO. On fees, TFLO is cheaper at 0.15% per year. On volatility, TFLO has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TIP has performed better with a 2.53% return vs 2.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TFLO is cheaper with a 0.15% expense ratio, compared with 0.18% for TIP.
TFLO has the higher dividend yield at 3.89%, compared with 3.76% for TIP.
TIP is categorized as Inflation-Protected Bonds, while TFLO is Government Bonds. TIP tracks ICE U.S. Treasury Inflation Linked Bond Index, while TFLO tracks Bloomberg U.S. Treasury Floating Rate Index. Their fees differ too: 0.18% for TIP and 0.15% for TFLO.
TFLO currently has the higher Sharpe Ratio (14.28 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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