TIPX vs. TDTF

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) and FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF).

TIPX and TDTF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TIPX is a passively managed fund by State Street that tracks the performance of the Bloomberg US Govt Inflation-Linked (1-10 Y). It was launched on May 29, 2013. TDTF is a passively managed fund by Northern Trust that tracks the performance of the iBoxx 5-Year Target Duration TIPS. It was launched on Sep 19, 2011. Both TIPX and TDTF are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

TIPX vs. TDTF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) and FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF). The values are adjusted to include any dividend payments, if applicable.

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	0.63%	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	0.61%	7.83%	2.40%	4.10%	-9.73%	5.54%	9.98%	7.99%	-0.82%	1.93%

Returns By Period

The year-to-date returns for both stocks are quite close, with TIPX having a 0.63% return and TDTF slightly lower at 0.61%. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: TIPX at 2.88% and TDTF at 2.88%.

TIPX

• 1D: 0.05%
• 1M: -0.77%
• YTD: 0.63%
• 6M: 0.80%
• 1Y: 3.80%
• 3Y*: 4.01%
• 5Y*: 2.47%
• 10Y*: 2.88%

TDTF

• 1D: 0.08%
• 1M: -0.92%
• YTD: 0.61%
• 6M: 0.78%
• 1Y: 3.85%
• 3Y*: 3.71%
• 5Y*: 2.01%
• 10Y*: 2.88%

*Multi-year figures are annualized to reflect compound growth (CAGR)

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%.

TDTF

FlexShares iBoxx 5-Year Target Duration TIPS Index Fund

TIPX

SPDR Bloomberg Barclays 1-10 Year TIPS ETF

Return for Risk

TIPX vs. TDTF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TIPX

TIPX Risk / Return Rank: 71
TIPX Sharpe Ratio Rank: 70
TIPX Sortino Ratio Rank: 71
TIPX Omega Ratio Rank: 63
TIPX Calmar Ratio Rank: 76
TIPX Martin Ratio Rank: 73

TDTF

TDTF Risk / Return Rank: 59
TDTF Sharpe Ratio Rank: 59
TDTF Sortino Ratio Rank: 57
TDTF Omega Ratio Rank: 50
TDTF Calmar Ratio Rank: 67
TDTF Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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 ratio Return per unit of total volatility	1.22	1.02	+0.20
Sortino ratio Return per unit of downside risk	1.74	1.45	+0.29
Omega ratio Gain probability vs. loss probability	1.23	1.19	+0.04
Calmar ratio Return relative to maximum drawdown	1.98	1.65	+0.32
Martin ratio Return relative to average drawdown	7.37	6.16	+1.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TIPX vs. TDTF - Sharpe Ratio Comparison

The current TIPX Sharpe Ratio is 1.22, which is comparable to the TDTF Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of TIPX and TDTF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TIPX	TDTF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	1.02	+0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.35	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.57	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.46	+0.03

Correlation

The correlation between TIPX and TDTF is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TIPX vs. TDTF - Dividend Comparison

TIPX's dividend yield for the trailing twelve months is around 3.72%, less than TDTF's 4.37% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF	3.72%	3.78%	3.57%	3.57%	6.08%	4.26%	1.73%	2.53%	1.90%	2.84%	1.04%	0.06%
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund	4.37%	4.58%	3.98%	3.97%	7.60%	4.55%	1.13%	1.80%	2.60%	2.20%	1.51%	0.21%

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.

Drawdown Indicators

	TIPX	TDTF	Difference
Max Drawdown Largest peak-to-trough decline	-10.06%	-12.02%	+1.96%
Max Drawdown (1Y) Largest decline over 1 year	-2.03%	-2.56%	+0.53%
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 Drawdown Current decline from peak	-0.78%	-0.92%	+0.14%
Average Drawdown Average peak-to-trough decline	-2.31%	-2.94%	+0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	0.69%	-0.15%

Volatility

TIPX vs. TDTF - Volatility Comparison

The current volatility for SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) is 0.96%, while FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF) has a volatility of 1.15%. This indicates that TIPX experiences smaller price fluctuations and is considered to be less risky than TDTF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIPX	TDTF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	1.15%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	1.76%	2.11%	-0.35%
Volatility (1Y) Calculated over the trailing 1-year period	3.14%	3.82%	-0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.64%	5.70%	-1.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.39%	5.08%	-0.69%