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 0.13 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 0.81% return, which is significantly lower than ICPI's 2.48% return.
TIPX
- 1D
- -0.05%
- 1M
- -0.32%
- YTD
- 0.81%
- 6M
- 0.97%
- 1Y
- 3.45%
- 3Y*
- 4.51%
- 5Y*
- 2.15%
- 10Y*
- 2.81%
ICPI
- 1D
- 0.04%
- 1M
- -0.01%
- YTD
- 2.48%
- 6M
- 2.54%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TIPX vs. ICPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 0.81% | 0.11% |
ICPI iShares 0-1 Year TIPS Bond ETF | 2.48% | 0.32% |
Correlation
The correlation between TIPX and ICPI is 0.13, 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 | 0.13 |
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Return for Risk
TIPX vs. ICPI — Risk / Return Rank
TIPX
ICPI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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.
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.
| TIPX | ICPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.24 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.68 | — | — |
| Martin ratioReturn relative to average drawdown | 8.34 | — | — |
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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 -0.32%. 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% | -0.32% | -9.74% |
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 | -1.19% | -0.28% | -0.91% |
Average DrawdownAverage peak-to-trough decline | -2.28% | -0.04% | -2.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | — | — |
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 | 1.02% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.94% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.66% | 0.96% | +1.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.63% | 0.96% | +3.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.37% | 0.96% | +3.41% |
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 4.58%, 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 | 4.58% | 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 0.13, 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 4.58%, 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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