TIPX vs. TIPZ
TIPX (SPDR Bloomberg Barclays 1-10 Year TIPS ETF) and TIPZ (PIMCO Broad US TIPS Index ETF) are both Inflation-Protected Bonds funds - TIPX tracks the Bloomberg US Govt Inflation-Linked (1-10 Y) while TIPZ tracks the ICE BofA US Inflation-Linked Treasury. Both are passively managed. Over the past 10 years, TIPX returned 2.84%/yr vs 2.25%/yr for TIPZ. Their 0.73 correlation means they have sometimes moved together and sometimes differently. TIPX charges 0.15%/yr vs 0.20%/yr for TIPZ.
Performance
TIPX vs. TIPZ - Performance Comparison
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Returns By Period
In the year-to-date period, TIPX achieves a 1.17% return, which is significantly lower than TIPZ's 1.38% return. Over the past 10 years, TIPX has outperformed TIPZ with an annualized return of 2.84%, while TIPZ has yielded a comparatively lower 2.25% annualized return.
TIPX
- 1D
- -0.05%
- 1M
- -0.11%
- 6M
- 0.59%
- YTD
- 1.17%
- 1Y
- 2.47%
- 3Y*
- 4.70%
- 5Y*
- 1.68%
- 10Y*
- 2.84%
- ALL TIME*
- 2.21%
TIPZ
- 1D
- -0.21%
- 1M
- -0.88%
- 6M
- -0.24%
- YTD
- 1.38%
- 1Y
- 1.62%
- 3Y*
- 3.64%
- 5Y*
- -0.12%
- 10Y*
- 2.25%
- ALL TIME*
- 2.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.51M | $5.69M | $8.31M | |
| $310.43K | $449.34K | $924.41K |
TIPX vs. TIPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 1.17% | 7.15% | 3.08% | 4.43% | -7.58% | 5.42% | 8.51% | 6.60% | -0.32% | 2.54% |
TIPZ PIMCO Broad US TIPS Index ETF | 1.38% | 5.87% | 1.52% | 3.37% | -12.67% | 5.48% | 10.98% | 8.64% | -1.65% | 3.12% |
Correlation
The correlation between TIPX and TIPZ is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (3Y) Balances recent behavior with more history. | 0.89 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.83 |
Correlation (All Time) Calculated using the full available price history since May 30, 2013 | 0.73 |
The correlation between TIPX and TIPZ shifts across timeframes, from 0.73 (all time) to 0.91 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TIPX vs. TIPZ — Risk / Return Rank
TIPX
TIPZ
TIPX vs. TIPZ - 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 PIMCO Broad US TIPS Index ETF (TIPZ). 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 | TIPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.11 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 1.06 | +1.34 |
| Martin ratioReturn relative to average drawdown | 6.42 | 2.97 | +3.45 |
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Drawdowns
TIPX vs. TIPZ - Drawdown Comparison
The maximum TIPX drawdown since its inception was -10.06%, smaller than the maximum TIPZ drawdown of -15.77%. Use the drawdown chart below to compare losses from any high point for TIPX and TIPZ.
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Drawdown Indicators
| TIPX | TIPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.06% | -15.77% | +5.71% |
Max Drawdown (1Y)Largest decline over 1 year | -1.29% | -2.18% | +0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -2.32% | -4.05% | +1.73% |
Max Drawdown (5Y)Largest decline over 5 years | -10.06% | -15.77% | +5.71% |
Max Drawdown (10Y)Largest decline over 10 years | -10.06% | -15.77% | +5.71% |
Current DrawdownCurrent decline from peak | -0.84% | -2.60% | +1.76% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -4.31% | +2.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 0.78% | -0.30% |
Volatility
TIPX vs. TIPZ - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) is 0.65%, while PIMCO Broad US TIPS Index ETF (TIPZ) has a volatility of 0.74%. This indicates that TIPX experiences smaller price fluctuations and is considered to be less risky than TIPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIPX | TIPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | 0.74% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 1.99% | 2.60% | -0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.64% | 3.85% | -1.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.62% | 6.34% | -1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.31% | 5.83% | -1.52% |
TIPX vs. TIPZ - Expense Ratio Comparison
TIPX has a 0.15% expense ratio, which is lower than TIPZ's 0.20% 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. TIPZ - Dividend Comparison
TIPX's dividend yield for the trailing twelve months is around 5.17%, less than TIPZ's 5.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 4.87% | 3.78% | 3.57% | 3.57% | 6.08% | 4.26% | 1.73% | 2.53% | 1.90% | 2.84% | 1.04% | 0.06% |
TIPZ PIMCO Broad US TIPS Index ETF | 5.48% | 4.74% | 4.44% | 4.69% | 7.14% | 4.41% | 1.47% | 1.65% | 2.23% | 1.70% | 1.06% | 0.56% |
Frequently Asked Questions
TIPX and TIPZ have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TIPZ has higher volatility (0.74%) compared to TIPX (0.65%). In terms of maximum drawdown, TIPX dropped -10.06% vs TIPZ's -15.77%.
On 10-year performance, TIPX leads with 2.84% vs 2.25% for TIPZ. 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 2.84% return vs 2.25%. 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 0.20% for TIPZ.
TIPZ has the higher dividend yield at 5.48%, compared with 4.87% for TIPX.
TIPX tracks Bloomberg US Govt Inflation-Linked (1-10 Y), while TIPZ tracks ICE BofA US Inflation-Linked Treasury. They also come from different issuers: State Street and PIMCO. Their fees differ too: 0.15% for TIPX and 0.20% for TIPZ.
TIPX currently has the higher Sharpe Ratio (1.18 vs 0.60), 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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