TRBFX vs. TIILX
TRBFX (T. Rowe Price Limited Duration Inflation Focused Bond Fund) and TIILX (TIAA-CREF Inflation-Linked Bond Fund) are both Inflation-Protected Bonds funds. Over the past 10 years, TRBFX returned 2.93%/yr vs 2.92%/yr for TIILX. A 0.73 correlation means they provide meaningful diversification when combined. TRBFX charges 0.41%/yr vs 0.23%/yr for TIILX.
Performance
TRBFX vs. TIILX - Performance Comparison
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Returns By Period
In the year-to-date period, TRBFX achieves a 1.76% return, which is significantly higher than TIILX's 1.58% return. Both investments have delivered pretty close results over the past 10 years, with TRBFX having a 2.93% annualized return and TIILX not far behind at 2.92%.
TRBFX
- 1D
- 0.00%
- 1M
- 0.10%
- YTD
- 1.76%
- 6M
- 1.77%
- 1Y
- 4.45%
- 3Y*
- 4.95%
- 5Y*
- 2.48%
- 10Y*
- 2.93%
TIILX
- 1D
- -0.09%
- 1M
- -0.09%
- YTD
- 1.58%
- 6M
- 1.30%
- 1Y
- 4.50%
- 3Y*
- 4.77%
- 5Y*
- 2.29%
- 10Y*
- 2.92%
TRBFX vs. TIILX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRBFX T. Rowe Price Limited Duration Inflation Focused Bond Fund | 1.76% | 6.34% | 4.60% | 3.01% | -5.19% | 5.77% | 5.65% | 6.53% | 0.28% | 0.80% |
TIILX TIAA-CREF Inflation-Linked Bond Fund | 1.58% | 7.09% | 3.28% | 4.35% | -7.22% | 5.26% | 8.10% | 6.60% | -0.49% | 1.74% |
Correlation
The correlation between TRBFX and TIILX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2015 | 0.73 |
The correlation between TRBFX and TIILX shifts across timeframes, from 0.58 (1 year) to 0.78 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TRBFX vs. TIILX — Risk / Return Rank
TRBFX
TIILX
TRBFX vs. TIILX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Limited Duration Inflation Focused Bond Fund (TRBFX) and TIAA-CREF Inflation-Linked Bond Fund (TIILX). 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.
| TRBFX | TIILX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.35 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.38 | 3.52 | -2.14 |
| Martin ratioReturn relative to average drawdown | 2.79 | 12.57 | -9.79 |
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
| TRBFX | TIILX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | 1.86 | -0.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.52 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | 0.77 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.70 | +0.02 |
Drawdowns
TRBFX vs. TIILX - Drawdown Comparison
The maximum TRBFX drawdown since its inception was -7.33%, smaller than the maximum TIILX drawdown of -14.24%. Use the drawdown chart below to compare losses from any high point for TRBFX and TIILX.
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Drawdown Indicators
| TRBFX | TIILX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.33% | -14.24% | +6.91% |
Max Drawdown (1Y)Largest decline over 1 year | -3.48% | -1.37% | -2.11% |
Max Drawdown (3Y)Largest decline over 3 years | -3.51% | -2.49% | -1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -7.33% | -9.57% | +2.24% |
Max Drawdown (10Y)Largest decline over 10 years | -7.33% | -9.57% | +2.24% |
Current DrawdownCurrent decline from peak | -1.36% | -0.27% | -1.09% |
Average DrawdownAverage peak-to-trough decline | -1.42% | -2.92% | +1.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.70% | 0.38% | +1.32% |
Volatility
TRBFX vs. TIILX - Volatility Comparison
The current volatility for T. Rowe Price Limited Duration Inflation Focused Bond Fund (TRBFX) is 0.61%, while TIAA-CREF Inflation-Linked Bond Fund (TIILX) has a volatility of 0.75%. This indicates that TRBFX experiences smaller price fluctuations and is considered to be less risky than TIILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRBFX | TIILX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.61% | 0.75% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 4.76% | 1.82% | +2.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.06% | 2.60% | +2.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.15% | 4.39% | +0.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.01% | 3.82% | +0.19% |
TRBFX vs. TIILX - Expense Ratio Comparison
TRBFX has a 0.41% expense ratio, which is higher than TIILX's 0.23% expense ratio.
Dividends
TRBFX vs. TIILX - Dividend Comparison
TRBFX's dividend yield for the trailing twelve months is around 4.79%, more than TIILX's 3.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TIILX TIAA-CREF Inflation-Linked Bond Fund | 3.09% | 3.95% | 3.45% | 3.38% | 8.60% | 6.29% | 1.28% | 1.85% | 2.59% | 2.00% | 1.55% | 0.33% |
TRBFX T. Rowe Price Limited Duration Inflation Focused Bond Fund | 4.79% | 4.95% | 4.48% | 3.64% | 6.11% | 4.99% | 1.38% | 3.27% | 2.34% | 1.61% | 1.10% | 0.00% |
Frequently Asked Questions
TRBFX and TIILX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TIILX has higher volatility (0.75%) compared to TRBFX (0.61%). In terms of maximum drawdown, TRBFX dropped -7.33% vs TIILX's -14.24%.
TIILX currently has the higher Sharpe Ratio (1.86 vs 0.95), 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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