TIPX vs. RLY
TIPX (SPDR Bloomberg Barclays 1-10 Year TIPS ETF) and RLY (State Street Multi-Asset Real Return ETF) are both exchange-traded funds - TIPX is a Inflation-Protected Bonds fund tracking the Bloomberg US Govt Inflation-Linked (1-10 Y), while RLY is a Global Allocation fund tracking the Bloomberg U.S. Government Inflation-Linked Bond Index. Both are passively managed. Over the past 10 years, TIPX returned 2.81%/yr vs 8.16%/yr for RLY. Their 0.19 correlation means their historical movements had little consistent relationship. TIPX charges 0.15%/yr vs 0.50%/yr for RLY.
Performance
TIPX vs. RLY - Performance Comparison
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Returns By Period
In the year-to-date period, TIPX achieves a 1.16% return, which is significantly lower than RLY's 15.29% return. Over the past 10 years, TIPX has underperformed RLY with an annualized return of 2.81%, while RLY has yielded a comparatively higher 8.16% annualized return.
TIPX
- 1D
- -0.01%
- 1M
- -0.12%
- 6M
- 0.79%
- YTD
- 1.16%
- 1Y
- 2.46%
- 3Y*
- 4.58%
- 5Y*
- 1.73%
- 10Y*
- 2.81%
- ALL TIME*
- 2.21%
RLY
- 1D
- -0.42%
- 1M
- 3.64%
- 6M
- 8.40%
- YTD
- 15.29%
- 1Y
- 27.11%
- 3Y*
- 12.93%
- 5Y*
- 10.64%
- 10Y*
- 8.16%
- ALL TIME*
- 4.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.13M | $7.99M | $7.88M | |
| $6.38M | $5.20M | $8.29M |
TIPX vs. RLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 1.16% | 7.15% | 3.08% | 4.43% | -7.58% | 5.42% | 8.51% | 6.60% | -0.32% | 2.54% |
RLY State Street Multi-Asset Real Return ETF | 15.29% | 20.26% | 2.53% | 2.56% | 7.86% | 22.85% | -0.59% | 15.63% | -11.72% | 10.40% |
Correlation
The correlation between TIPX and RLY is 0.21, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.22 |
Correlation (3Y) Balances recent behavior with more history. | 0.24 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.26 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.21 |
Correlation (All Time) Calculated using the full available price history since May 30, 2013 | 0.19 |
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Return for Risk
TIPX vs. RLY — Risk / Return Rank
TIPX
RLY
TIPX vs. RLY - 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 State Street Multi-Asset Real Return ETF (RLY). 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 | RLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.61 | ||
| Sortino ratioReturn per unit of downside risk | -2.10 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.47 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 3.61 | -1.70 |
| Martin ratioReturn relative to average drawdown | 5.06 | 12.56 | -7.49 |
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Drawdowns
TIPX vs. RLY - Drawdown Comparison
The maximum TIPX drawdown since its inception was -10.06%, smaller than the maximum RLY drawdown of -37.75%. Use the drawdown chart below to compare losses from any high point for TIPX and RLY.
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Drawdown Indicators
| TIPX | RLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.06% | -37.75% | +27.69% |
Max Drawdown (1Y)Largest decline over 1 year | -1.29% | -7.54% | +6.25% |
Max Drawdown (3Y)Largest decline over 3 years | -2.32% | -10.08% | +7.76% |
Max Drawdown (5Y)Largest decline over 5 years | -10.06% | -18.94% | +8.88% |
Max Drawdown (10Y)Largest decline over 10 years | -10.06% | -34.17% | +24.11% |
Current DrawdownCurrent decline from peak | -0.85% | -3.15% | +2.30% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -9.40% | +7.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 2.16% | -1.67% |
Volatility
TIPX vs. RLY - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) is 0.64%, while State Street Multi-Asset Real Return ETF (RLY) has a volatility of 2.61%. This indicates that TIPX experiences smaller price fluctuations and is considered to be less risky than RLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIPX | RLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 2.61% | -1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 1.99% | 8.06% | -6.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.57% | 10.61% | -8.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.62% | 13.46% | -8.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.31% | 13.80% | -9.49% |
TIPX vs. RLY - Expense Ratio Comparison
TIPX has a 0.15% expense ratio, which is lower than RLY's 0.50% expense ratio.
Dividends
TIPX vs. RLY - Dividend Comparison
TIPX's dividend yield for the trailing twelve months is around 5.65%, more than RLY's 3.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RLY State Street Multi-Asset Real Return ETF | 3.07% | 3.24% | 3.31% | 3.71% | 5.66% | 12.15% | 2.16% | 3.45% | 2.76% | 1.85% | 2.07% | 1.80% |
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 5.65% | 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 RLY have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RLY has higher volatility (2.61%) compared to TIPX (0.64%). In terms of maximum drawdown, TIPX dropped -10.06% vs RLY's -37.75%.
On 10-year performance, RLY leads with 8.16% vs 2.81% for TIPX. On fees, TIPX is cheaper at 0.15% per year. On volatility, TIPX has been the lower-risk option at 0.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RLY has performed better with a 8.16% return vs 2.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TIPX is cheaper with a 0.15% expense ratio, compared with 0.50% for RLY.
TIPX has the higher dividend yield at 5.65%, compared with 3.07% for RLY.
TIPX is categorized as Inflation-Protected Bonds, while RLY is Global Allocation. TIPX tracks Bloomberg US Govt Inflation-Linked (1-10 Y), while RLY tracks Bloomberg U.S. Government Inflation-Linked Bond Index. Their fees differ too: 0.15% for TIPX and 0.50% for RLY.
RLY currently has the higher Sharpe Ratio (2.57 vs 0.96), 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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