TIPA vs. ICPI

Last updated Jul 4, 2026

TIPA (Northern Trust 2030 Inflation-Linked Distributing Ladder ETF) and ICPI (iShares 0-1 Year TIPS Bond ETF) are both Inflation-Protected Bonds funds. TIPA is actively managed, while ICPI is passively managed. At a 0.38 correlation, their price movements are largely independent. TIPA charges 0.10%/yr vs 0.09%/yr for ICPI.

Performance

TIPA vs. ICPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Trust 2030 Inflation-Linked Distributing Ladder ETF (TIPA) and iShares 0-1 Year TIPS Bond ETF (ICPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TIPA achieves a 1.78% return, which is significantly lower than ICPI's 2.57% return.

TIPA

• 1D: 0.05%
• 1M: -0.36%
• 6M: 1.77%
• YTD: 1.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ICPI

• 1D: -0.02%
• 1M: -0.13%
• 6M: 2.54%
• YTD: 2.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TIPA vs. ICPI - Yearly Performance Comparison

	2026 (YTD)	2025
TIPA Northern Trust 2030 Inflation-Linked Distributing Ladder ETF	1.78%	0.18%
ICPI iShares 0-1 Year TIPS Bond ETF	2.57%	0.32%

Correlation

The correlation between TIPA and ICPI is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025	0.38

Return for Risk

TIPA vs. ICPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust 2030 Inflation-Linked Distributing Ladder ETF (TIPA) and iShares 0-1 Year TIPS Bond ETF (ICPI). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

TIPA vs. ICPI - Drawdown Comparison

The maximum TIPA drawdown since its inception was -0.76%, which is greater than ICPI's maximum drawdown of -0.34%. Use the drawdown chart below to compare losses from any high point for TIPA and ICPI.

Drawdown Indicators

	TIPA	ICPI	Difference
Max Drawdown Largest peak-to-trough decline	-0.76%	-0.34%	-0.42%
Current Drawdown Current decline from peak	-0.43%	-0.19%	-0.24%
Average Drawdown Average peak-to-trough decline	-0.22%	-0.05%	-0.17%

Volatility

Volatility by Period

	TIPA	ICPI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.63%	0.95%	+0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.63%	0.95%	+0.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.63%	0.95%	+0.68%

TIPA vs. ICPI - Expense Ratio Comparison

TIPA has a 0.10% expense ratio, which is higher than ICPI'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

TIPA vs. ICPI - Dividend Comparison

TIPA's dividend yield for the trailing twelve months is around 3.29%, more than ICPI's 2.57% yield.

Position	TTM	2025
ICPI iShares 0-1 Year TIPS Bond ETF	2.57%	0.54%
TIPA Northern Trust 2030 Inflation-Linked Distributing Ladder ETF	3.29%	0.84%

Frequently Asked Questions

Can I hold both TIPA and ICPI in my portfolio?

TIPA and ICPI have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TIPA or ICPI?

On fees, ICPI is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TIPA or ICPI?

ICPI is cheaper with a 0.09% expense ratio, compared with 0.10% for TIPA.

Which ETF pays a higher dividend yield, TIPA or ICPI?

TIPA has the higher dividend yield at 3.29%, compared with 2.57% for ICPI.

What is the main difference between TIPA and ICPI?

They also come from different issuers: Northern Trust and iShares. Their fees differ too: 0.10% for TIPA and 0.09% for ICPI.