TIPZ vs. TDTF

Last updated Apr 1, 2026

Compare and contrast key facts about PIMCO Broad US TIPS Index ETF (TIPZ) and FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF).

TIPZ and TDTF 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. TDTF is a passively managed fund by Northern Trust that tracks the performance of the iBoxx 5-Year Target Duration TIPS. It was launched on Sep 19, 2011. Both TIPZ and TDTF are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

TIPZ vs. TDTF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Broad US TIPS Index ETF (TIPZ) and FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF). The values are adjusted to include any dividend payments, if applicable.

TIPZ vs. TDTF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TIPZ PIMCO Broad US TIPS Index ETF	1.47%	5.87%	1.52%	3.37%	-12.67%	5.48%	10.98%	8.64%	-1.65%	3.12%
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund	0.61%	7.83%	2.40%	4.10%	-9.73%	5.54%	9.98%	7.99%	-0.82%	1.93%

Returns By Period

In the year-to-date period, TIPZ achieves a 1.47% return, which is significantly higher than TDTF's 0.61% return. Over the past 10 years, TIPZ has underperformed TDTF with an annualized return of 2.40%, while TDTF has yielded a comparatively higher 2.88% annualized return.

TIPZ

• 1D: 0.08%
• 1M: -1.41%
• YTD: 1.47%
• 6M: 0.35%
• 1Y: 2.98%
• 3Y*: 2.97%
• 5Y*: 1.07%
• 10Y*: 2.40%

TDTF

• 1D: 0.08%
• 1M: -0.92%
• YTD: 0.61%
• 6M: 0.78%
• 1Y: 3.85%
• 3Y*: 3.71%
• 5Y*: 2.01%
• 10Y*: 2.88%

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

TIPZ vs. TDTF - Expense Ratio Comparison

TIPZ has a 0.20% expense ratio, which is higher than TDTF's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

TIPZ

PIMCO Broad US TIPS Index ETF

TDTF

FlexShares iBoxx 5-Year Target Duration TIPS Index Fund

Return for Risk

TIPZ vs. TDTF — Risk / Return Rank

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

TIPZ

TIPZ Risk / Return Rank: 37
TIPZ Sharpe Ratio Rank: 36
TIPZ Sortino Ratio Rank: 32
TIPZ Omega Ratio Rank: 31
TIPZ Calmar Ratio Rank: 48
TIPZ Martin Ratio Rank: 38

TDTF

TDTF Risk / Return Rank: 59
TDTF Sharpe Ratio Rank: 59
TDTF Sortino Ratio Rank: 57
TDTF Omega Ratio Rank: 50
TDTF Calmar Ratio Rank: 67
TDTF Martin Ratio Rank: 63

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. TDTF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Broad US TIPS Index ETF (TIPZ) and FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF). 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	TDTF	Difference
Sharpe ratio Return per unit of total volatility	0.65	1.02	-0.36
Sortino ratio Return per unit of downside risk	0.90	1.45	-0.55
Omega ratio Gain probability vs. loss probability	1.12	1.19	-0.07
Calmar ratio Return relative to maximum drawdown	1.19	1.65	-0.46
Martin ratio Return relative to average drawdown	3.44	6.16	-2.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TIPZ vs. TDTF - Sharpe Ratio Comparison

The current TIPZ Sharpe Ratio is 0.65, which is lower than the TDTF Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of TIPZ and TDTF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TIPZ	TDTF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.65	1.02	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	0.35	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.57	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.46	+0.05

Correlation

The correlation between TIPZ and TDTF is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TIPZ vs. TDTF - Dividend Comparison

TIPZ's dividend yield for the trailing twelve months is around 4.44%, more than TDTF's 4.37% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TIPZ PIMCO Broad US TIPS Index ETF	4.44%	4.74%	4.44%	4.69%	7.14%	4.41%	1.47%	1.65%	2.23%	1.70%	1.06%	0.56%
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund	4.37%	4.58%	3.98%	3.97%	7.60%	4.55%	1.13%	1.80%	2.60%	2.20%	1.51%	0.21%

Drawdowns

TIPZ vs. TDTF - Drawdown Comparison

The maximum TIPZ drawdown since its inception was -15.77%, which is greater than TDTF's maximum drawdown of -12.02%. Use the drawdown chart below to compare losses from any high point for TIPZ and TDTF.

Drawdown Indicators

	TIPZ	TDTF	Difference
Max Drawdown Largest peak-to-trough decline	-15.77%	-12.02%	-3.75%
Max Drawdown (1Y) Largest decline over 1 year	-2.86%	-2.56%	-0.30%
Max Drawdown (5Y) Largest decline over 5 years	-15.77%	-12.02%	-3.75%
Max Drawdown (10Y) Largest decline over 10 years	-15.77%	-12.02%	-3.75%
Current Drawdown Current decline from peak	-2.51%	-0.92%	-1.59%
Average Drawdown Average peak-to-trough decline	-4.36%	-2.94%	-1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	0.69%	+0.30%

Volatility

TIPZ vs. TDTF - Volatility Comparison

PIMCO Broad US TIPS Index ETF (TIPZ) has a higher volatility of 1.45% compared to FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF) at 1.15%. This indicates that TIPZ's price experiences larger fluctuations and is considered to be riskier than TDTF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIPZ	TDTF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.45%	1.15%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	2.86%	2.11%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	4.60%	3.82%	+0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.38%	5.70%	+0.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.86%	5.08%	+0.78%