TIPZ vs. LTPZ
TIPZ (PIMCO Broad US TIPS Index ETF) and LTPZ (PIMCO 15+ Year US TIPS Index ETF) are both Inflation-Protected Bonds funds from PIMCO - TIPZ tracks the ICE BofA US Inflation-Linked Treasury while LTPZ tracks the ICE BofA US Inflation-Linked Treasury (15+ Y). Both are passively managed. Over the past 10 years, TIPZ returned 2.51%/yr vs 0.80%/yr for LTPZ. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.
Performance
TIPZ vs. LTPZ - Performance Comparison
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Returns By Period
In the year-to-date period, TIPZ achieves a 2.79% return, which is significantly higher than LTPZ's 0.91% return. Over the past 10 years, TIPZ has outperformed LTPZ with an annualized return of 2.51%, while LTPZ has yielded a comparatively lower 0.80% annualized return.
TIPZ
- 1D
- 0.02%
- 1M
- -0.03%
- YTD
- 2.79%
- 6M
- 1.43%
- 1Y
- 5.19%
- 3Y*
- 3.93%
- 5Y*
- 0.92%
- 10Y*
- 2.51%
LTPZ
- 1D
- 0.12%
- 1M
- 0.75%
- YTD
- 0.91%
- 6M
- -0.28%
- 1Y
- 5.18%
- 3Y*
- -0.63%
- 5Y*
- -4.88%
- 10Y*
- 0.80%
TIPZ vs. LTPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIPZ PIMCO Broad US TIPS Index ETF | 2.79% | 5.87% | 1.52% | 3.37% | -12.67% | 5.48% | 10.98% | 8.64% | -1.65% | 3.12% |
LTPZ PIMCO 15+ Year US TIPS Index ETF | 0.91% | 4.00% | -4.80% | 0.96% | -31.71% | 7.02% | 24.89% | 17.47% | -7.22% | 9.07% |
Correlation
The correlation between TIPZ and LTPZ is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2009 | 0.88 |
The correlation between TIPZ and LTPZ has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.
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Return for Risk
TIPZ vs. LTPZ — Risk / Return Rank
TIPZ
LTPZ
TIPZ vs. LTPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Broad US TIPS Index ETF (TIPZ) and PIMCO 15+ Year US TIPS Index ETF (LTPZ). 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 | LTPZ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.33 | 0.56 | +0.77 |
Sortino ratioReturn per unit of downside risk | 1.96 | 0.85 | +1.11 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.10 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 2.21 | 0.61 | +1.60 |
Martin ratioReturn relative to average drawdown | 6.91 | 1.34 | +5.57 |
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 | LTPZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | 0.56 | +0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | -0.31 | +0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.05 | +0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.21 | +0.31 |
Drawdowns
TIPZ vs. LTPZ - Drawdown Comparison
The maximum TIPZ drawdown since its inception was -15.77%, smaller than the maximum LTPZ drawdown of -40.99%. Use the drawdown chart below to compare losses from any high point for TIPZ and LTPZ.
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Drawdown Indicators
| TIPZ | LTPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.77% | -40.99% | +25.22% |
Max Drawdown (1Y)Largest decline over 1 year | -2.18% | -7.00% | +4.82% |
Max Drawdown (3Y)Largest decline over 3 years | -4.74% | -16.27% | +11.53% |
Max Drawdown (5Y)Largest decline over 5 years | -15.77% | -40.99% | +25.22% |
Max Drawdown (10Y)Largest decline over 10 years | -15.77% | -40.99% | +25.22% |
Current DrawdownCurrent decline from peak | -1.24% | -32.41% | +31.17% |
Average DrawdownAverage peak-to-trough decline | -4.33% | -12.40% | +8.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.70% | 3.19% | -2.49% |
Volatility
TIPZ vs. LTPZ - Volatility Comparison
The current volatility for PIMCO Broad US TIPS Index ETF (TIPZ) is 0.97%, while PIMCO 15+ Year US TIPS Index ETF (LTPZ) has a volatility of 2.40%. This indicates that TIPZ experiences smaller price fluctuations and is considered to be less risky than LTPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIPZ | LTPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 2.40% | -1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 6.44% | -3.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.93% | 9.29% | -5.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.37% | 15.89% | -9.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.84% | 15.07% | -9.23% |
TIPZ vs. LTPZ - Expense Ratio Comparison
Both TIPZ and LTPZ 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%.
Dividends
TIPZ vs. LTPZ - Dividend Comparison
TIPZ's dividend yield for the trailing twelve months is around 5.10%, less than LTPZ's 5.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year US TIPS Index ETF | 5.20% | 4.64% | 3.71% | 3.71% | 8.38% | 3.56% | 1.42% | 1.74% | 3.05% | 2.25% | 2.32% | 0.71% |
TIPZ PIMCO Broad US TIPS Index ETF | 5.10% | 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 LTPZ have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LTPZ has higher volatility (2.40%) compared to TIPZ (0.97%). In terms of maximum drawdown, TIPZ dropped -15.77% vs LTPZ's -40.99%.
On 10-year performance, TIPZ leads with 2.51% vs 0.80% for LTPZ. Both ETFs have the same 0.20% expense ratio. On volatility, TIPZ has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TIPZ has performed better with a 2.51% return vs 0.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TIPZ and LTPZ have the same expense ratio: 0.20% per year.
LTPZ has the higher dividend yield at 5.20%, compared with 5.10% for TIPZ.
TIPZ tracks ICE BofA US Inflation-Linked Treasury, while LTPZ tracks ICE BofA US Inflation-Linked Treasury (15+ Y).
TIPZ currently has the higher Sharpe Ratio (1.33 vs 0.56), 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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