USRD vs. TIP
USRD (Themes US R&D Champions ETF) and TIP (iShares TIPS Bond ETF) are both exchange-traded funds - USRD is a Large Cap Blend Equities fund tracking the Solactive US R&D Champions Index, while TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index. Both are passively managed. Over the past year, USRD returned 21.33% vs 4.90% for TIP. At a 0.17 correlation, their price movements are largely independent. USRD charges 0.29%/yr vs 0.18%/yr for TIP.
Performance
USRD vs. TIP - Performance Comparison
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Returns By Period
In the year-to-date period, USRD achieves a 12.31% return, which is significantly higher than TIP's 1.39% return.
USRD
- 1D
- 1.76%
- 1M
- 4.18%
- YTD
- 12.31%
- 6M
- 9.99%
- 1Y
- 21.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TIP
- 1D
- 0.36%
- 1M
- -0.22%
- YTD
- 1.39%
- 6M
- 1.25%
- 1Y
- 4.90%
- 3Y*
- 3.82%
- 5Y*
- 0.91%
- 10Y*
- 2.50%
USRD vs. TIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
USRD Themes US R&D Champions ETF | 12.31% | 12.44% | 15.53% | 5.32% |
TIP iShares TIPS Bond ETF | 1.39% | 6.77% | 1.65% | 2.17% |
Correlation
The correlation between USRD and TIP is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2023 | 0.17 |
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Return for Risk
USRD vs. TIP — Risk / Return Rank
USRD
TIP
USRD vs. TIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Themes US R&D Champions ETF (USRD) and iShares TIPS Bond ETF (TIP). 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.
| USRD | TIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.26 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 2.49 | -0.90 |
| Martin ratioReturn relative to average drawdown | 4.81 | 7.44 | -2.64 |
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Drawdowns
USRD vs. TIP - Drawdown Comparison
The maximum USRD drawdown since its inception was -23.79%, which is greater than TIP's maximum drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for USRD and TIP.
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Drawdown Indicators
| USRD | TIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.79% | -14.57% | -9.22% |
Max Drawdown (1Y)Largest decline over 1 year | -13.49% | -1.98% | -11.51% |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.54% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.51% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.51% | — |
Current DrawdownCurrent decline from peak | -7.42% | -0.47% | -6.95% |
Average DrawdownAverage peak-to-trough decline | -3.71% | -3.43% | -0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.45% | 0.66% | +3.79% |
Volatility
USRD vs. TIP - Volatility Comparison
Themes US R&D Champions ETF (USRD) has a higher volatility of 8.08% compared to iShares TIPS Bond ETF (TIP) at 1.03%. This indicates that USRD's price experiences larger fluctuations and is considered to be riskier than TIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USRD | TIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.08% | 1.03% | +7.05% |
Volatility (6M)Calculated over the trailing 6-month period | 14.50% | 2.35% | +12.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.70% | 3.39% | +14.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.49% | 6.21% | +13.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.49% | 5.74% | +13.75% |
USRD vs. TIP - Expense Ratio Comparison
USRD has a 0.29% expense ratio, which is higher than TIP's 0.18% expense ratio.
Dividends
USRD vs. TIP - Dividend Comparison
USRD's dividend yield for the trailing twelve months is around 0.38%, less than TIP's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TIP iShares TIPS Bond ETF | 3.76% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
USRD Themes US R&D Champions ETF | 0.38% | 0.42% | 2.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
USRD and TIP have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USRD has higher volatility (8.08%) compared to TIP (1.03%). In terms of maximum drawdown, USRD dropped -23.79% vs TIP's -14.57%.
On 1-year performance, USRD leads with 21.33% vs 4.90% for TIP. On fees, TIP is cheaper at 0.18% per year. On volatility, TIP has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USRD has performed better with a 21.33% return vs 4.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TIP is cheaper with a 0.18% expense ratio, compared with 0.29% for USRD.
TIP has the higher dividend yield at 3.76%, compared with 0.38% for USRD.
USRD is categorized as Large Cap Blend Equities, while TIP is Inflation-Protected Bonds. USRD tracks Solactive US R&D Champions Index, while TIP tracks ICE U.S. Treasury Inflation Linked Bond Index. They also come from different issuers: Themes and iShares. Their fees differ too: 0.29% for USRD and 0.18% for TIP.
TIP currently has the higher Sharpe Ratio (1.45 vs 1.21), 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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