TIPZ vs. LIAM

Last updated Jun 24, 2026

TIPZ (PIMCO Broad US TIPS Index ETF) and LIAM (LifeX 2055 Inflation-Protected Longevity Income ETF) are both Inflation-Protected Bonds funds. TIPZ is passively managed, while LIAM is actively managed. Over the past year, TIPZ returned 3.58% vs 2.97% for LIAM. Their correlation of 0.91 suggests significant overlap in exposure. TIPZ charges 0.20%/yr vs 0.25%/yr for LIAM.

Performance

TIPZ vs. LIAM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Broad US TIPS Index ETF (TIPZ) and LifeX 2055 Inflation-Protected Longevity Income ETF (LIAM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TIPZ achieves a 1.90% return, which is significantly higher than LIAM's 0.38% 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%

LIAM

• 1D: -0.04%
• 1M: 0.32%
• YTD: 0.38%
• 6M: 0.35%
• 1Y: 2.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TIPZ vs. LIAM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TIPZ PIMCO Broad US TIPS Index ETF	1.90%	5.87%	-3.27%
LIAM LifeX 2055 Inflation-Protected Longevity Income ETF	0.38%	5.26%	-7.09%

Correlation

The correlation between TIPZ and LIAM is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (All Time) Calculated using the full available price history since Sep 16, 2024	0.91

The correlation between TIPZ and LIAM has been stable across timeframes, ranging from 0.91 to 0.91 - a consistent structural relationship.

Return for Risk

TIPZ vs. LIAM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TIPZ

TIPZ Risk / Return Rank: 30
TIPZ Sharpe Ratio Rank: 27
TIPZ Sortino Ratio Rank: 26
TIPZ Omega Ratio Rank: 25
TIPZ Calmar Ratio Rank: 35
TIPZ Martin Ratio Rank: 35

LIAM

LIAM Risk / Return Rank: 16
LIAM Sharpe Ratio Rank: 16
LIAM Sortino Ratio Rank: 15
LIAM Omega Ratio Rank: 14
LIAM Calmar Ratio Rank: 17
LIAM Martin Ratio Rank: 16

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TIPZ vs. LIAM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Broad US TIPS Index ETF (TIPZ) and LifeX 2055 Inflation-Protected Longevity Income ETF (LIAM). 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	LIAM	Difference
Sharpe ratio: Return per unit of total volatility	0.92	0.47	+0.45
Sortino ratio: Return per unit of downside risk	1.35	0.71	+0.63
Omega ratio: Gain probability vs. loss probability	1.17	1.08	+0.09
Calmar ratio: Return relative to maximum drawdown	1.65	0.67	+0.98
Martin ratio: Return relative to average drawdown	5.08	1.55	+3.53

TIPZ vs. LIAM - Sharpe Ratio Comparison

The current TIPZ Sharpe Ratio is 0.92, which is higher than the LIAM Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of TIPZ and LIAM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TIPZ vs. LIAM - Drawdown Comparison

The maximum TIPZ drawdown since its inception was -15.77%, which is greater than LIAM's maximum drawdown of -8.39%. Use the drawdown chart below to compare losses from any high point for TIPZ and LIAM.

Drawdown Indicators

	TIPZ	LIAM	Difference
Max Drawdown Largest peak-to-trough decline	-15.77%	-8.39%	-7.38%
Max Drawdown (1Y) Largest decline over 1 year	-2.18%	-4.45%	+2.27%
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 Drawdown Current decline from peak	-2.09%	-2.57%	+0.48%
Average Drawdown Average peak-to-trough decline	-4.32%	-3.32%	-1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.71%	1.92%	-1.21%

Volatility

TIPZ vs. LIAM - Volatility Comparison

The current volatility for PIMCO Broad US TIPS Index ETF (TIPZ) is 1.19%, while LifeX 2055 Inflation-Protected Longevity Income ETF (LIAM) has a volatility of 1.82%. This indicates that TIPZ experiences smaller price fluctuations and is considered to be less risky than LIAM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIPZ	LIAM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.19%	1.82%	-0.63%
Volatility (6M) Calculated over the trailing 6-month period	3.00%	4.65%	-1.65%
Volatility (1Y) Calculated over the trailing 1-year period	3.90%	6.30%	-2.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.35%	7.63%	-1.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.85%	7.63%	-1.78%

TIPZ vs. LIAM - Expense Ratio Comparison

TIPZ has a 0.20% expense ratio, which is lower than LIAM's 0.25% 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

TIPZ vs. LIAM - Dividend Comparison

TIPZ's dividend yield for the trailing twelve months is around 5.14%, less than LIAM's 6.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LIAM LifeX 2055 Inflation-Protected Longevity Income ETF	6.48%	9.02%	1.21%	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

Can I hold both TIPZ and LIAM in my portfolio?

With a correlation of 0.91, TIPZ and LIAM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TIPZ or LIAM?

LIAM has higher volatility (1.82%) compared to TIPZ (1.19%). In terms of maximum drawdown, TIPZ dropped -15.77% vs LIAM's -8.39%.

Which ETF is better, TIPZ or LIAM?

On 1-year performance, TIPZ leads with 3.58% vs 2.97% for LIAM. On fees, TIPZ is cheaper at 0.20% per year. On volatility, TIPZ has been the lower-risk option at 1.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TIPZ or LIAM?

Over the 1-year period, TIPZ has performed better with a 3.58% return vs 2.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TIPZ or LIAM?

TIPZ is cheaper with a 0.20% expense ratio, compared with 0.25% for LIAM.

Which ETF pays a higher dividend yield, TIPZ or LIAM?

LIAM has the higher dividend yield at 6.48%, compared with 5.14% for TIPZ.

What is the main difference between TIPZ and LIAM?

They also come from different issuers: PIMCO and Stone Ridge. Their fees differ too: 0.20% for TIPZ and 0.25% for LIAM.

Which has better risk-adjusted returns?

TIPZ currently has the higher Sharpe Ratio (0.92 vs 0.47), 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.