TIPX vs. GTIP
TIPX (SPDR Bloomberg Barclays 1-10 Year TIPS ETF) and GTIP (Goldman Sachs Access Inflation Protected USD Bond ETF) are both Inflation-Protected Bonds funds - TIPX tracks the Bloomberg US Govt Inflation-Linked (1-10 Y) while GTIP tracks the FTSE Goldman Sachs Treasury Inflation Protected USD Bond Index. Both are passively managed. Over the past 5 years, TIPX returned 2.26%/yr vs 1.09%/yr for GTIP. Their correlation of 0.91 suggests significant overlap in exposure. TIPX charges 0.15%/yr vs 0.12%/yr for GTIP.
Performance
TIPX vs. GTIP - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with TIPX having a 1.72% return and GTIP slightly lower at 1.70%.
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%
GTIP
- 1D
- -0.08%
- 1M
- 0.04%
- YTD
- 1.70%
- 6M
- 1.11%
- 1Y
- 5.10%
- 3Y*
- 4.01%
- 5Y*
- 1.09%
- 10Y*
- —
TIPX vs. GTIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | 0.45% |
GTIP Goldman Sachs Access Inflation Protected USD Bond ETF | 1.70% | 6.63% | 2.04% | 3.88% | -12.14% | 5.86% | 10.83% | 8.33% | 0.24% |
Correlation
The correlation between TIPX and GTIP is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Oct 5, 2018 | 0.91 |
The correlation between TIPX and GTIP has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.
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Return for Risk
TIPX vs. GTIP — Risk / Return Rank
TIPX
GTIP
TIPX vs. GTIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) and Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP). 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.
| TIPX | GTIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.28 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.92 | 2.54 | +1.38 |
| Martin ratioReturn relative to average drawdown | 13.22 | 8.00 | +5.22 |
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
| TIPX | GTIP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.94 | 1.53 | +0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.18 | +0.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.56 | -0.05 |
Drawdowns
TIPX vs. GTIP - Drawdown Comparison
The maximum TIPX drawdown since its inception was -10.06%, smaller than the maximum GTIP drawdown of -14.31%. Use the drawdown chart below to compare losses from any high point for TIPX and GTIP.
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Drawdown Indicators
| TIPX | GTIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.06% | -14.31% | +4.25% |
Max Drawdown (1Y)Largest decline over 1 year | -1.29% | -2.02% | +0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -2.45% | -4.47% | +2.02% |
Max Drawdown (5Y)Largest decline over 5 years | -10.06% | -14.31% | +4.25% |
Max Drawdown (10Y)Largest decline over 10 years | -10.06% | — | — |
Current DrawdownCurrent decline from peak | -0.30% | -0.17% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -2.28% | -4.24% | +1.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 0.64% | -0.26% |
Volatility
TIPX vs. GTIP - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) is 0.74%, while Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP) has a volatility of 0.97%. This indicates that TIPX experiences smaller price fluctuations and is considered to be less risky than GTIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIPX | GTIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 0.97% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 1.79% | 2.32% | -0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.61% | 3.34% | -0.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.64% | 6.07% | -1.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.37% | 6.01% | -1.64% |
TIPX vs. GTIP - Expense Ratio Comparison
TIPX has a 0.15% expense ratio, which is higher than GTIP's 0.12% 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
TIPX vs. GTIP - Dividend Comparison
TIPX's dividend yield for the trailing twelve months is around 4.54%, less than GTIP's 4.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GTIP Goldman Sachs Access Inflation Protected USD Bond ETF | 4.69% | 4.58% | 3.52% | 2.77% | 6.47% | 3.82% | 1.04% | 2.34% | 0.66% | 0.00% | 0.00% | 0.00% |
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
TIPX and GTIP have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GTIP has higher volatility (0.97%) compared to TIPX (0.74%). In terms of maximum drawdown, TIPX dropped -10.06% vs GTIP's -14.31%.
On 5-year performance, TIPX leads with 2.26% vs 1.09% for GTIP. On fees, GTIP is cheaper at 0.12% 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 5-year period, TIPX has performed better with a 2.26% return vs 1.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GTIP is cheaper with a 0.12% expense ratio, compared with 0.15% for TIPX.
GTIP has the higher dividend yield at 4.69%, compared with 4.54% for TIPX.
TIPX tracks Bloomberg US Govt Inflation-Linked (1-10 Y), while GTIP tracks FTSE Goldman Sachs Treasury Inflation Protected USD Bond Index. They also come from different issuers: State Street and Goldman Sachs. Their fees differ too: 0.15% for TIPX and 0.12% for GTIP.
TIPX currently has the higher Sharpe Ratio (1.94 vs 1.53), 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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