TIPC vs. ICPI

Last updated Jul 4, 2026

TIPC (Northern Trust 2045 Inflation-Linked Distributing Ladder ETF) and ICPI (iShares 0-1 Year TIPS Bond ETF) are both Inflation-Protected Bonds funds. TIPC is actively managed, while ICPI is passively managed. At a correlation of -0.12, they often move in opposite directions. TIPC charges 0.10%/yr vs 0.09%/yr for ICPI.

Performance

TIPC vs. ICPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Trust 2045 Inflation-Linked Distributing Ladder ETF (TIPC) 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, TIPC achieves a 0.93% return, which is significantly lower than ICPI's 2.57% return.

TIPC

• 1D: 0.03%
• 1M: -0.45%
• 6M: 1.01%
• YTD: 0.93%
• 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)

TIPC vs. ICPI - Yearly Performance Comparison

	2026 (YTD)	2025
TIPC Northern Trust 2045 Inflation-Linked Distributing Ladder ETF	0.93%	-0.32%
ICPI iShares 0-1 Year TIPS Bond ETF	2.57%	0.32%

Correlation

The correlation between TIPC and ICPI is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025	-0.12

Return for Risk

TIPC vs. ICPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust 2045 Inflation-Linked Distributing Ladder ETF (TIPC) 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

TIPC vs. ICPI - Drawdown Comparison

The maximum TIPC drawdown since its inception was -2.95%, which is greater than ICPI's maximum drawdown of -0.34%. Use the drawdown chart below to compare losses from any high point for TIPC and ICPI.

Drawdown Indicators

	TIPC	ICPI	Difference
Max Drawdown Largest peak-to-trough decline	-2.95%	-0.34%	-2.61%
Current Drawdown Current decline from peak	-1.26%	-0.19%	-1.07%
Average Drawdown Average peak-to-trough decline	-0.99%	-0.05%	-0.94%

Volatility

Volatility by Period

	TIPC	ICPI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	4.68%	0.95%	+3.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.68%	0.95%	+3.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.68%	0.95%	+3.73%

TIPC vs. ICPI - Expense Ratio Comparison

TIPC 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

TIPC vs. ICPI - Dividend Comparison

TIPC's dividend yield for the trailing twelve months is around 4.94%, more than ICPI's 2.57% yield.

Position	TTM	2025
ICPI iShares 0-1 Year TIPS Bond ETF	2.57%	0.54%
TIPC Northern Trust 2045 Inflation-Linked Distributing Ladder ETF	4.94%	1.20%

Frequently Asked Questions

Can I hold both TIPC and ICPI in my portfolio?

TIPC and ICPI have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TIPC 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, TIPC or ICPI?

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

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

TIPC has the higher dividend yield at 4.94%, compared with 2.57% for ICPI.

What is the main difference between TIPC and ICPI?

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