TIPX vs. TDTF
TIPX (SPDR Bloomberg Barclays 1-10 Year TIPS ETF) and TDTF (FlexShares iBoxx 5-Year Target Duration TIPS Index Fund) are both Inflation-Protected Bonds funds - TIPX tracks the Bloomberg US Govt Inflation-Linked (1-10 Y) while TDTF tracks the iBoxx 5-Year Target Duration TIPS. Both are passively managed. Over the past 10 years, TIPX returned 2.97%/yr vs 2.93%/yr for TDTF. A 0.78 correlation means they provide meaningful diversification when combined. TIPX charges 0.15%/yr vs 0.18%/yr for TDTF.
Performance
TIPX vs. TDTF - Performance Comparison
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Returns By Period
In the year-to-date period, TIPX achieves a 1.72% return, which is significantly higher than TDTF's 1.52% return. Both investments have delivered pretty close results over the past 10 years, with TIPX having a 2.97% annualized return and TDTF not far behind at 2.93%.
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%
TDTF
- 1D
- -0.13%
- 1M
- -0.44%
- YTD
- 1.52%
- 6M
- 1.18%
- 1Y
- 5.07%
- 3Y*
- 4.56%
- 5Y*
- 1.72%
- 10Y*
- 2.93%
TIPX vs. TDTF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | -0.32% | 2.54% |
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund | 1.52% | 7.83% | 2.40% | 4.10% | -9.73% | 5.54% | 9.98% | 7.99% | -0.82% | 1.93% |
Correlation
The correlation between TIPX and TDTF is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since May 31, 2013 | 0.78 |
The correlation between TIPX and TDTF shifts across timeframes, from 0.78 (all time) to 0.96 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TIPX vs. TDTF — Risk / Return Rank
TIPX
TDTF
TIPX vs. TDTF - 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 FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF). 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 | TDTF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.30 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.92 | 3.22 | +0.70 |
| Martin ratioReturn relative to average drawdown | 13.22 | 10.66 | +2.56 |
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 | TDTF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.94 | 1.67 | +0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.30 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 0.58 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.47 | +0.03 |
Drawdowns
TIPX vs. TDTF - Drawdown Comparison
The maximum TIPX drawdown since its inception was -10.06%, smaller than the maximum TDTF drawdown of -12.02%. Use the drawdown chart below to compare losses from any high point for TIPX and TDTF.
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Drawdown Indicators
| TIPX | TDTF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.06% | -12.02% | +1.96% |
Max Drawdown (1Y)Largest decline over 1 year | -1.29% | -1.58% | +0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -2.45% | -3.79% | +1.34% |
Max Drawdown (5Y)Largest decline over 5 years | -10.06% | -12.02% | +1.96% |
Max Drawdown (10Y)Largest decline over 10 years | -10.06% | -12.02% | +1.96% |
Current DrawdownCurrent decline from peak | -0.30% | -0.57% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -2.28% | -2.91% | +0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 0.48% | -0.10% |
Volatility
TIPX vs. TDTF - Volatility Comparison
SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) and FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF) have volatilities of 0.74% and 0.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIPX | TDTF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 0.73% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.79% | 1.97% | -0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.61% | 3.06% | -0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.64% | 5.69% | -1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.37% | 5.07% | -0.70% |
TIPX vs. TDTF - Expense Ratio Comparison
TIPX has a 0.15% expense ratio, which is lower than TDTF's 0.18% expense ratio. Despite the difference, 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. TDTF - Dividend Comparison
TIPX's dividend yield for the trailing twelve months is around 4.54%, less than TDTF's 4.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund | 4.71% | 4.58% | 3.98% | 3.97% | 7.60% | 4.55% | 1.13% | 1.80% | 2.60% | 2.20% | 1.51% | 0.21% |
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
With a correlation of 0.92, TIPX and TDTF move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
TIPX has higher volatility (0.74%) compared to TDTF (0.73%). In terms of maximum drawdown, TIPX dropped -10.06% vs TDTF's -12.02%.
On 10-year performance, TIPX leads with 2.97% vs 2.93% for TDTF. On fees, TIPX is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TIPX has performed better with a 2.97% return vs 2.93%. 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 0.18% for TDTF.
TDTF has the higher dividend yield at 4.71%, compared with 4.54% for TIPX.
TIPX tracks Bloomberg US Govt Inflation-Linked (1-10 Y), while TDTF tracks iBoxx 5-Year Target Duration TIPS. They also come from different issuers: State Street and Northern Trust. Their fees differ too: 0.15% for TIPX and 0.18% for TDTF.
TIPX currently has the higher Sharpe Ratio (1.94 vs 1.67), 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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