TIPX vs. ICPI
TIPX (SPDR Bloomberg Barclays 1-10 Year TIPS ETF) and ICPI (iShares 0-1 Year TIPS Bond ETF) are both Inflation-Protected Bonds funds - TIPX tracks the Bloomberg US Govt Inflation-Linked (1-10 Y) while ICPI tracks the ICE U.S. Treasury 0-1 Year Inflation Linked Bond Index. Both are passively managed. At a 0.08 correlation, their price movements are largely independent. TIPX charges 0.15%/yr vs 0.09%/yr for ICPI.
Performance
TIPX vs. ICPI - Performance Comparison
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Returns By Period
In the year-to-date period, TIPX achieves a 1.72% return, which is significantly lower than ICPI's 2.70% return.
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%
ICPI
- 1D
- 0.05%
- 1M
- 0.44%
- YTD
- 2.70%
- 6M
- 2.76%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TIPX vs. ICPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 1.72% | 0.06% |
ICPI iShares 0-1 Year TIPS Bond ETF | 2.70% | 0.32% |
Correlation
The correlation between TIPX and ICPI is 0.08, 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 (All Time) Calculated using the full available price history since Nov 21, 2025 | 0.08 |
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Return for Risk
TIPX vs. ICPI — Risk / Return Rank
TIPX
ICPI
TIPX vs. ICPI - 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 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.
| TIPX | ICPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.36 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.92 | — | — |
| Martin ratioReturn relative to average drawdown | 13.22 | — | — |
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 | ICPI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.94 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | — | — |
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 | 6.20 | -5.70 |
Drawdowns
TIPX vs. ICPI - Drawdown Comparison
The maximum TIPX drawdown since its inception was -10.06%, which is greater than ICPI's maximum drawdown of -0.22%. Use the drawdown chart below to compare losses from any high point for TIPX and ICPI.
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Drawdown Indicators
| TIPX | ICPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.06% | -0.22% | -9.84% |
Max Drawdown (1Y)Largest decline over 1 year | -1.29% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -2.45% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -10.06% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -10.06% | — | — |
Current DrawdownCurrent decline from peak | -0.30% | 0.00% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -2.28% | -0.03% | -2.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | — | — |
Volatility
TIPX vs. ICPI - Volatility Comparison
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Volatility by Period
| TIPX | ICPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.79% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.61% | 0.95% | +1.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.64% | 0.95% | +3.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.37% | 0.95% | +3.42% |
TIPX vs. ICPI - Expense Ratio Comparison
TIPX has a 0.15% 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
TIPX vs. ICPI - Dividend Comparison
TIPX's dividend yield for the trailing twelve months is around 4.54%, more than ICPI's 1.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICPI iShares 0-1 Year TIPS Bond ETF | 1.80% | 0.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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 ICPI have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
ICPI is cheaper with a 0.09% expense ratio, compared with 0.15% for TIPX.
TIPX has the higher dividend yield at 4.54%, compared with 1.80% for ICPI.
TIPX tracks Bloomberg US Govt Inflation-Linked (1-10 Y), while ICPI tracks ICE U.S. Treasury 0-1 Year Inflation Linked Bond Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.15% for TIPX and 0.09% for ICPI.
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