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TIP vs. TIPX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TIP vs. TIPX

Last updated Jun 4, 2026

TIP (iShares TIPS Bond ETF) and TIPX (SPDR Bloomberg Barclays 1-10 Year TIPS ETF) are both Inflation-Protected Bonds funds - TIP tracks the ICE U.S. Treasury Inflation Linked Bond Index while TIPX tracks the Bloomberg US Govt Inflation-Linked (1-10 Y). Both are passively managed. Over the past 10 years, TIP returned 2.57%/yr vs 2.97%/yr for TIPX. A 0.76 correlation means they provide meaningful diversification when combined. TIP charges 0.18%/yr vs 0.15%/yr for TIPX.

Performance

TIP vs. TIPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares TIPS Bond ETF (TIP) and SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TIP achieves a 1.54% return, which is significantly lower than TIPX's 1.72% return. Over the past 10 years, TIP has underperformed TIPX with an annualized return of 2.57%, while TIPX has yielded a comparatively higher 2.97% annualized return.

TIP

1D
-0.18%
1M
-0.09%
YTD
1.54%
6M
1.06%
1Y
4.96%
3Y*
3.88%
5Y*
0.97%
10Y*
2.57%

TIPX

1D
-0.05%
1M
-0.17%
YTD
1.72%
6M
1.48%
1Y
5.04%
3Y*
4.84%
5Y*
2.26%
10Y*
2.97%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TIP vs. TIPX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TIP
iShares TIPS Bond ETF		1.54%6.77%1.65%3.80%-12.26%5.68%10.84%8.35%-1.42%2.92%
TIPX
SPDR Bloomberg Barclays 1-10 Year TIPS ETF		1.72%7.15%3.08%4.43%-7.58%5.42%8.51%6.60%-0.32%2.54%

Correlation

The correlation between TIP and TIPX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.89

Correlation (3Y)
Calculated over the trailing 3-year period

0.92

Correlation (5Y)
Calculated over the trailing 5-year period

0.93

Correlation (10Y)
Calculated over the trailing 10-year period

0.86

Correlation (All Time)
Calculated using the full available price history since May 31, 2013

0.76

The correlation between TIP and TIPX shifts across timeframes, from 0.76 (all time) to 0.93 (5 years), reflecting how their relationship changes across market environments.

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iShares TIPS Bond ETF

SPDR Bloomberg Barclays 1-10 Year TIPS ETF

Often compared with TIP:
TIP vs. SCHPTIP vs. VTIPTIP vs. SGOVTIP vs. STIPTIP vs. FIPDXTIP vs. BNDTIP vs. IEF
Often compared with TIPX:
TIPX vs. LTPZTIPX vs. SCHPTIPX vs. SPIPTIPX vs. TIPZTIPX vs. VTIPTIPX vs. FLHYTIPX vs. MHCAX

Return for Risk

TIP vs. TIPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TIP
TIP Risk / Return Rank: 4444
Overall Rank
TIP Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
TIP Sortino Ratio Rank: 4444
Sortino Ratio Rank
TIP Omega Ratio Rank: 3939
Omega Ratio Rank
TIP Calmar Ratio Rank: 5050
Calmar Ratio Rank
TIP Martin Ratio Rank: 4545
Martin Ratio Rank
TIPX
TIPX Risk / Return Rank: 6666
Overall Rank
TIPX Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
TIPX Sortino Ratio Rank: 6565
Sortino Ratio Rank
TIPX Omega Ratio Rank: 5959
Omega Ratio Rank
TIPX Calmar Ratio Rank: 7777
Calmar Ratio Rank
TIPX Martin Ratio Rank: 7171
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TIP vs. TIPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares TIPS Bond ETF (TIP) and SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX). 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.

TIPTIPXDifference
Sharpe ratioReturn per unit of total volatility
1.46
1.94

-0.48

Sortino ratioReturn per unit of downside risk
2.24
3.04

-0.80

Omega ratioGain probability vs. loss probability

1.26

1.36

-0.10

Calmar ratioReturn relative to maximum drawdown

2.52

3.92

-1.39

Martin ratioReturn relative to average drawdown

7.57

13.22

-5.65

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TIP vs. TIPX - Sharpe Ratio Comparison

The current TIP Sharpe Ratio is 1.46, which is comparable to the TIPX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of TIP and TIPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

TIPTIPXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.46

1.94

-0.48

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.16

0.49

-0.33

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

0.68

-0.23

Sharpe Ratio (All Time)

Calculated using the full available price history

0.57

0.50

+0.07

Drawdowns

TIP vs. TIPX - Drawdown Comparison

The maximum TIP drawdown since its inception was -14.57%, which is greater than TIPX's maximum drawdown of -10.06%. Use the drawdown chart below to compare losses from any high point for TIP and TIPX.

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Drawdown Indicators

TIPTIPXDifference

Max Drawdown

Largest peak-to-trough decline

-14.57%

-10.06%

-4.51%

Max Drawdown (1Y)

Largest decline over 1 year

-1.98%

-1.29%

-0.69%

Max Drawdown (3Y)

Largest decline over 3 years

-4.54%

-2.45%

-2.09%

Max Drawdown (5Y)

Largest decline over 5 years

-14.51%

-10.06%

-4.45%

Max Drawdown (10Y)

Largest decline over 10 years

-14.51%

-10.06%

-4.45%

Current Drawdown

Current decline from peak

-0.32%

-0.30%

-0.02%

Average Drawdown

Average peak-to-trough decline

-3.43%

-2.28%

-1.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.66%

0.38%

+0.28%

Volatility

TIP vs. TIPX - Volatility Comparison

iShares TIPS Bond ETF (TIP) has a higher volatility of 0.89% compared to SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) at 0.74%. This indicates that TIP's price experiences larger fluctuations and is considered to be riskier than TIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TIPTIPXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.89%

0.74%

+0.15%

Volatility (6M)

Calculated over the trailing 6-month period

2.29%

1.79%

+0.50%

Volatility (1Y)

Calculated over the trailing 1-year period

3.41%

2.61%

+0.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.21%

4.64%

+1.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.74%

4.37%

+1.37%

TIP vs. TIPX - Expense Ratio Comparison

TIP has a 0.18% expense ratio, which is higher than TIPX'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. TIPX - Dividend Comparison

TIP's dividend yield for the trailing twelve months is around 3.76%, less than TIPX's 4.54% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
TIPX
SPDR Bloomberg Barclays 1-10 Year TIPS ETF		4.54%3.78%3.57%3.57%6.08%4.26%1.73%2.53%1.90%2.84%1.04%0.06%

Frequently Asked Questions

TIP and TIPX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TIP has higher volatility (0.89%) compared to TIPX (0.74%). In terms of maximum drawdown, TIP dropped -14.57% vs TIPX's -10.06%.

On 10-year performance, TIPX leads with 2.97% vs 2.57% for TIP. On fees, TIPX is cheaper at 0.15% per year. On volatility, TIPX has been the lower-risk option at 0.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, TIPX has performed better with a 2.97% return vs 2.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

TIPX is cheaper with a 0.15% expense ratio, compared with 0.18% for TIP.

TIPX has the higher dividend yield at 4.54%, compared with 3.76% for TIP.

TIP tracks ICE U.S. Treasury Inflation Linked Bond Index, while TIPX tracks Bloomberg US Govt Inflation-Linked (1-10 Y). They also come from different issuers: iShares and State Street. Their fees differ too: 0.18% for TIP and 0.15% for TIPX.

TIPX currently has the higher Sharpe Ratio (1.94 vs 1.46), 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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