TIPZ vs. ICPI
TIPZ (PIMCO Broad US TIPS Index ETF) and ICPI (iShares 0-1 Year TIPS Bond ETF) are both Inflation-Protected Bonds funds - TIPZ tracks the ICE BofA US Inflation-Linked Treasury while ICPI tracks the ICE U.S. Treasury 0-1 Year Inflation Linked Bond Index. Both are passively managed. At a correlation of -0.05, they often move in opposite directions. TIPZ charges 0.20%/yr vs 0.09%/yr for ICPI.
Performance
TIPZ vs. ICPI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TIPZ achieves a 1.90% return, which is significantly lower than ICPI's 2.48% return.
TIPZ
- 1D
- -0.01%
- 1M
- -0.02%
- YTD
- 1.90%
- 6M
- 0.95%
- 1Y
- 3.58%
- 3Y*
- 3.45%
- 5Y*
- 0.62%
- 10Y*
- 2.37%
ICPI
- 1D
- 0.04%
- 1M
- -0.01%
- YTD
- 2.48%
- 6M
- 2.54%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TIPZ vs. ICPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TIPZ PIMCO Broad US TIPS Index ETF | 1.90% | -1.19% |
ICPI iShares 0-1 Year TIPS Bond ETF | 2.48% | 0.32% |
Correlation
The correlation between TIPZ and ICPI is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025 | -0.05 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TIPZ vs. ICPI — Risk / Return Rank
TIPZ
ICPI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TIPZ vs. ICPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Broad US TIPS Index ETF (TIPZ) and iShares 0-1 Year TIPS Bond ETF (ICPI). 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.
| TIPZ | ICPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.17 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | — | — |
| Martin ratioReturn relative to average drawdown | 5.08 | — | — |
Loading charts...
Drawdowns
TIPZ vs. ICPI - Drawdown Comparison
The maximum TIPZ drawdown since its inception was -15.77%, which is greater than ICPI's maximum drawdown of -0.32%. Use the drawdown chart below to compare losses from any high point for TIPZ and ICPI.
Loading charts...
Drawdown Indicators
| TIPZ | ICPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.77% | -0.32% | -15.45% |
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 | -2.09% | -0.28% | -1.81% |
Average DrawdownAverage peak-to-trough decline | -4.32% | -0.04% | -4.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | — | — |
Volatility
TIPZ vs. ICPI - Volatility Comparison
Loading charts...
Volatility by Period
| TIPZ | ICPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.00% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.90% | 0.96% | +2.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.35% | 0.96% | +5.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.85% | 0.96% | +4.89% |
TIPZ vs. ICPI - Expense Ratio Comparison
TIPZ has a 0.20% expense ratio, which is higher than ICPI's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
TIPZ vs. ICPI - Dividend Comparison
TIPZ's dividend yield for the trailing twelve months is around 5.14%, more than ICPI's 1.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICPI iShares 0-1 Year TIPS Bond ETF | 1.80% | 0.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TIPZ PIMCO Broad US TIPS Index ETF | 5.14% | 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 ICPI have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICPI is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICPI is cheaper with a 0.09% expense ratio, compared with 0.20% for TIPZ.
TIPZ has the higher dividend yield at 5.14%, compared with 1.80% for ICPI.
TIPZ tracks ICE BofA US Inflation-Linked Treasury, while ICPI tracks ICE U.S. Treasury 0-1 Year Inflation Linked Bond Index. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.20% for TIPZ and 0.09% for ICPI.
Find the right allocation for TIPZ and ICPI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer