TIPZ vs. HYGI
TIPZ (PIMCO Broad US TIPS Index ETF) and HYGI (iShares Inflation Hedged High Yield Bond ETF) are both Inflation-Protected Bonds funds - TIPZ tracks the ICE BofA US Inflation-Linked Treasury while HYGI tracks the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. Both are passively managed. At a 0.43 correlation, their price movements are largely independent. TIPZ charges 0.20%/yr vs 0.52%/yr for HYGI.
Performance
TIPZ vs. HYGI - Performance Comparison
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Returns By Period
TIPZ
- 1D
- -0.20%
- 1M
- -0.01%
- YTD
- 2.58%
- 6M
- 1.00%
- 1Y
- 5.12%
- 3Y*
- 3.86%
- 5Y*
- 0.77%
- 10Y*
- 2.49%
HYGI
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TIPZ vs. HYGI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TIPZ PIMCO Broad US TIPS Index ETF | 2.58% | 5.87% | 1.52% | 3.37% | -4.29% |
HYGI iShares Inflation Hedged High Yield Bond ETF | 0.00% | 6.20% | 9.16% | 11.71% | 0.65% |
Correlation
The correlation between TIPZ and HYGI is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2022 | 0.43 |
Over the past year, the correlation between TIPZ and HYGI has dropped to 0.19 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.
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Return for Risk
TIPZ vs. HYGI — Risk / Return Rank
TIPZ
HYGI
TIPZ vs. HYGI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Broad US TIPS Index ETF (TIPZ) and iShares Inflation Hedged High Yield Bond ETF (HYGI). 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.
| TIPZ | HYGI | 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 | 2.36 | — | — |
| Martin ratioReturn relative to average drawdown | 7.37 | — | — |
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
| TIPZ | HYGI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.31 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | — | — |
Drawdowns
TIPZ vs. HYGI - Drawdown Comparison
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Drawdown Indicators
| TIPZ | HYGI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.77% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -2.18% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.74% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.77% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -15.77% | — | — |
Current DrawdownCurrent decline from peak | -1.44% | — | — |
Average DrawdownAverage peak-to-trough decline | -4.33% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.70% | — | — |
Volatility
TIPZ vs. HYGI - Volatility Comparison
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Volatility by Period
| TIPZ | HYGI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.88% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.37% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.84% | — | — |
TIPZ vs. HYGI - Expense Ratio Comparison
TIPZ has a 0.20% expense ratio, which is lower than HYGI's 0.52% expense ratio.
Dividends
TIPZ vs. HYGI - Dividend Comparison
TIPZ's dividend yield for the trailing twelve months is around 5.11%, more than HYGI's 0.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGI iShares Inflation Hedged High Yield Bond ETF | 0.97% | 3.41% | 6.08% | 6.22% | 3.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TIPZ PIMCO Broad US TIPS Index ETF | 5.11% | 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
TIPZ and HYGI have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TIPZ is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TIPZ is cheaper with a 0.20% expense ratio, compared with 0.52% for HYGI.
TIPZ has the higher dividend yield at 5.11%, compared with 0.97% for HYGI.
TIPZ tracks ICE BofA US Inflation-Linked Treasury, while HYGI tracks BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.20% for TIPZ and 0.52% for HYGI.
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