TIPZ vs. ICVT
Compare and contrast key facts about PIMCO Broad US TIPS Index ETF (TIPZ) and iShares Convertible Bond ETF (ICVT).
TIPZ and ICVT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TIPZ is a passively managed fund by PIMCO that tracks the performance of the ICE BofA US Inflation-Linked Treasury. It was launched on Sep 3, 2009. ICVT is a passively managed fund by iShares that tracks the performance of the Barclays U.S. Convertible Cash Pay Bond > $250MM Index. It was launched on Jun 2, 2015. Both TIPZ and ICVT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TIPZ or ICVT.
Key characteristics
| TIPZ | ICVT | |
|---|---|---|
| YTD Return | 2.04% | 11.76% |
| 1Y Return | 6.35% | 20.40% |
| 3Y Return (Ann) | -2.57% | -1.97% |
| 5Y Return (Ann) | 1.93% | 11.29% |
| Sharpe Ratio | 1.15 | 2.52 |
| Sortino Ratio | 1.70 | 3.58 |
| Omega Ratio | 1.20 | 1.46 |
| Calmar Ratio | 0.44 | 0.80 |
| Martin Ratio | 5.02 | 13.56 |
| Ulcer Index | 1.16% | 1.55% |
| Daily Std Dev | 5.08% | 8.33% |
| Max Drawdown | -15.41% | -33.25% |
| Current Drawdown | -7.91% | -10.94% |
Correlation
The correlation between TIPZ and ICVT is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
TIPZ vs. ICVT - Performance Comparison
In the year-to-date period, TIPZ achieves a 2.04% return, which is significantly lower than ICVT's 11.76% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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TIPZ vs. ICVT - Expense Ratio Comparison
Both TIPZ and ICVT have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Risk-Adjusted Performance
TIPZ vs. ICVT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Broad US TIPS Index ETF (TIPZ) and iShares Convertible Bond ETF (ICVT). 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.
Dividends
TIPZ vs. ICVT - Dividend Comparison
TIPZ's dividend yield for the trailing twelve months is around 4.89%, more than ICVT's 2.27% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TIPZ PIMCO Broad US TIPS Index ETF | 4.89% | 5.21% | 7.14% | 4.83% | 1.47% | 1.65% | 2.41% | 1.70% | 1.06% | 0.56% | 1.09% | 0.73% |
ICVT iShares Convertible Bond ETF | 2.27% | 1.84% | 1.93% | 7.70% | 3.98% | 1.86% | 4.82% | 2.56% | 3.06% | 1.57% | 0.00% | 0.00% |
Drawdowns
TIPZ vs. ICVT - Drawdown Comparison
The maximum TIPZ drawdown since its inception was -15.41%, smaller than the maximum ICVT drawdown of -33.25%. Use the drawdown chart below to compare losses from any high point for TIPZ and ICVT. For additional features, visit the drawdowns tool.
Volatility
TIPZ vs. ICVT - Volatility Comparison
The current volatility for PIMCO Broad US TIPS Index ETF (TIPZ) is 1.32%, while iShares Convertible Bond ETF (ICVT) has a volatility of 2.60%. This indicates that TIPZ experiences smaller price fluctuations and is considered to be less risky than ICVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.