TIPZ vs. LTPZ
TIPZ (PIMCO Broad US TIPS Index ETF) and LTPZ (PIMCO 15+ Year U.S. 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 2.25%/yr vs -0.06%/yr for LTPZ. Their correlation of 0.88 means they have usually moved in the same direction. 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 1.38% return, which is significantly higher than LTPZ's -3.75% return. Over the past 10 years, TIPZ has outperformed LTPZ with an annualized return of 2.25%, while LTPZ has yielded a comparatively lower -0.06% annualized 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%
LTPZ
- 1D
- -0.34%
- 1M
- -3.73%
- 6M
- -3.61%
- YTD
- -3.75%
- 1Y
- -2.50%
- 3Y*
- -1.54%
- 5Y*
- -7.34%
- 10Y*
- -0.06%
- ALL TIME*
- 2.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.36M | $8.24M | $7.63M | |
| $310.43K | $449.34K | $924.41K |
TIPZ vs. LTPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIPZ PIMCO Broad US TIPS Index ETF | 1.38% | 5.87% | 1.52% | 3.37% | -12.67% | 5.48% | 10.98% | 8.64% | -1.65% | 3.12% |
LTPZ PIMCO 15+ Year U.S. TIPS Index ETF | -3.75% | 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 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2009 | 0.88 |
The correlation between TIPZ and LTPZ has been stable across timeframes, ranging from 0.85 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 U.S. 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.
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 | LTPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.78 | ||
| Sortino ratioReturn per unit of downside risk | +1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 0.98 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.06 | -0.20 | +1.26 |
| Martin ratioReturn relative to average drawdown | 2.97 | -0.42 | +3.39 |
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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% | -8.09% | +5.91% |
Max Drawdown (3Y)Largest decline over 3 years | -4.05% | -12.64% | +8.59% |
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 | -2.60% | -35.53% | +32.93% |
Average DrawdownAverage peak-to-trough decline | -4.31% | -12.60% | +8.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 3.86% | -3.08% |
Volatility
TIPZ vs. LTPZ - Volatility Comparison
The current volatility for PIMCO Broad US TIPS Index ETF (TIPZ) is 0.74%, while PIMCO 15+ Year U.S. TIPS Index ETF (LTPZ) has a volatility of 2.05%. 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 | 0.74% | 2.05% | -1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.60% | 6.79% | -4.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.85% | 9.03% | -5.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.34% | 15.85% | -9.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.83% | 15.03% | -9.20% |
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 5.83%, less than LTPZ's 6.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year U.S. TIPS Index ETF | 6.00% | 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 | 5.48% | 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 LTPZ have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LTPZ has higher volatility (2.05%) compared to TIPZ (0.74%). In terms of maximum drawdown, TIPZ dropped -15.77% vs LTPZ's -40.99%.
On 10-year performance, TIPZ leads with 2.25% vs -0.06% for LTPZ. Both ETFs have the same 0.20% expense ratio. 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 10-year period, TIPZ has performed better with a 2.25% return vs -0.06%. 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 6.00%, compared with 5.48% 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 (0.60 vs -0.18), 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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