TIPZ vs. IVOL
TIPZ (PIMCO Broad US TIPS Index ETF) and IVOL (Quadratic Interest Rate Volatility & Inflation Hedge ETF) are both Inflation-Protected Bonds funds. TIPZ is passively managed, while IVOL is actively managed. Over the past 5 years, TIPZ returned -0.12%/yr vs -5.87%/yr for IVOL. Their 0.38 correlation means their historical movements had little consistent relationship. TIPZ charges 0.20%/yr vs 0.99%/yr for IVOL.
Performance
TIPZ vs. IVOL - Performance Comparison
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Returns By Period
In the year-to-date period, TIPZ achieves a 1.38% return, which is significantly higher than IVOL's -7.33% return.
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%
IVOL
- 1D
- 0.17%
- 1M
- 0.36%
- 6M
- -6.64%
- YTD
- -7.33%
- 1Y
- -7.62%
- 3Y*
- -1.90%
- 5Y*
- -5.87%
- 10Y*
- —
- ALL TIME*
- -1.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.46M | $1.22M | $2.07M | |
| $310.43K | $449.34K | $924.41K |
TIPZ vs. IVOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TIPZ PIMCO Broad US TIPS Index ETF | 1.38% | 5.87% | 1.52% | 3.37% | -12.67% | 5.48% | 10.98% | 4.79% |
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | -7.33% | 11.97% | -11.07% | -5.18% | -12.69% | -0.31% | 14.56% | 3.35% |
Correlation
The correlation between TIPZ and IVOL is 0.45, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.45 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.43 |
Correlation (All Time) Calculated using the full available price history since May 14, 2019 | 0.38 |
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Return for Risk
TIPZ vs. IVOL — Risk / Return Rank
TIPZ
IVOL
TIPZ vs. IVOL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Broad US TIPS Index ETF (TIPZ) and Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL). 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 | IVOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.52 | ||
| Sortino ratioReturn per unit of downside risk | +2.14 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 0.86 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.06 | -0.51 | +1.57 |
| Martin ratioReturn relative to average drawdown | 2.97 | -0.99 | +3.96 |
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Drawdowns
TIPZ vs. IVOL - Drawdown Comparison
The maximum TIPZ drawdown since its inception was -15.77%, smaller than the maximum IVOL drawdown of -31.16%. Use the drawdown chart below to compare losses from any high point for TIPZ and IVOL.
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Drawdown Indicators
| TIPZ | IVOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.77% | -31.16% | +15.39% |
Max Drawdown (1Y)Largest decline over 1 year | -2.18% | -12.17% | +9.99% |
Max Drawdown (3Y)Largest decline over 3 years | -4.05% | -14.48% | +10.43% |
Max Drawdown (5Y)Largest decline over 5 years | -15.77% | -30.07% | +14.30% |
Max Drawdown (10Y)Largest decline over 10 years | -15.77% | — | — |
Current DrawdownCurrent decline from peak | -2.60% | -27.12% | +24.52% |
Average DrawdownAverage peak-to-trough decline | -4.31% | -13.60% | +9.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 6.22% | -5.44% |
Volatility
TIPZ vs. IVOL - Volatility Comparison
The current volatility for PIMCO Broad US TIPS Index ETF (TIPZ) is 0.74%, while Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) has a volatility of 1.74%. This indicates that TIPZ experiences smaller price fluctuations and is considered to be less risky than IVOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIPZ | IVOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 1.74% | -1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.60% | 4.95% | -2.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.85% | 6.74% | -2.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.34% | 12.85% | -6.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.83% | 11.91% | -6.08% |
TIPZ vs. IVOL - Expense Ratio Comparison
TIPZ has a 0.20% expense ratio, which is lower than IVOL's 0.99% expense ratio.
Dividends
TIPZ vs. IVOL - Dividend Comparison
TIPZ's dividend yield for the trailing twelve months is around 5.83%, more than IVOL's 3.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | 3.88% | 3.61% | 3.83% | 3.73% | 3.92% | 3.93% | 3.44% | 2.02% | 0.00% | 0.00% | 0.00% | 0.00% |
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
TIPZ and IVOL have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVOL has higher volatility (1.74%) compared to TIPZ (0.74%). In terms of maximum drawdown, TIPZ dropped -15.77% vs IVOL's -31.16%.
On 5-year performance, TIPZ leads with -0.12% vs -5.87% for IVOL. On fees, TIPZ is cheaper at 0.20% per year. On volatility, TIPZ has been the lower-risk option at 0.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, TIPZ has performed better with a -0.12% return vs -5.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TIPZ is cheaper with a 0.20% expense ratio, compared with 0.99% for IVOL.
TIPZ has the higher dividend yield at 5.48%, compared with 3.88% for IVOL.
They also come from different issuers: PIMCO and CICC. Their fees differ too: 0.20% for TIPZ and 0.99% for IVOL.
TIPZ currently has the higher Sharpe Ratio (0.60 vs -0.92), 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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