WIP vs. TDTF
WIP (SPDR FTSE International Government Inflation-Protected Bond ETF) and TDTF (FlexShares iBoxx 5-Year Target Duration TIPS Index Fund) are both Inflation-Protected Bonds funds - WIP tracks the FTSE International Inflation-Linked Securities Select (USD) while TDTF tracks the iBoxx 5-Year Target Duration TIPS. Both are passively managed. Over the past 10 years, WIP returned 1.61%/yr vs 2.93%/yr for TDTF. At a 0.38 correlation, their price movements are largely independent. WIP charges 0.50%/yr vs 0.18%/yr for TDTF.
Performance
WIP vs. TDTF - Performance Comparison
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Returns By Period
In the year-to-date period, WIP achieves a 4.31% return, which is significantly higher than TDTF's 1.52% return. Over the past 10 years, WIP has underperformed TDTF with an annualized return of 1.61%, while TDTF has yielded a comparatively higher 2.93% annualized return.
WIP
- 1D
- -0.72%
- 1M
- 0.70%
- YTD
- 4.31%
- 6M
- 4.96%
- 1Y
- 10.26%
- 3Y*
- 5.08%
- 5Y*
- -0.70%
- 10Y*
- 1.61%
TDTF
- 1D
- -0.13%
- 1M
- -0.44%
- YTD
- 1.52%
- 6M
- 1.18%
- 1Y
- 5.07%
- 3Y*
- 4.56%
- 5Y*
- 1.72%
- 10Y*
- 2.93%
WIP vs. TDTF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WIP SPDR FTSE International Government Inflation-Protected Bond ETF | 4.31% | 15.18% | -8.71% | 8.84% | -15.54% | -4.15% | 8.37% | 8.62% | -5.97% | 12.73% |
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund | 1.52% | 7.83% | 2.40% | 4.10% | -9.73% | 5.54% | 9.98% | 7.99% | -0.82% | 1.93% |
Correlation
The correlation between WIP and TDTF is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2011 | 0.38 |
The correlation between WIP and TDTF shifts across timeframes, from 0.31 (1 year) to 0.46 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
WIP vs. TDTF — Risk / Return Rank
WIP
TDTF
WIP vs. TDTF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR FTSE International Government Inflation-Protected Bond ETF (WIP) 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.
| WIP | TDTF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.30 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 3.22 | -1.22 |
| Martin ratioReturn relative to average drawdown | 5.98 | 10.66 | -4.69 |
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
| WIP | TDTF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.18 | 1.67 | -0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.06 | 0.30 | -0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.16 | 0.58 | -0.42 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.47 | -0.35 |
Drawdowns
WIP vs. TDTF - Drawdown Comparison
The maximum WIP drawdown since its inception was -29.60%, which is greater than TDTF's maximum drawdown of -12.02%. Use the drawdown chart below to compare losses from any high point for WIP and TDTF.
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Drawdown Indicators
| WIP | TDTF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.60% | -12.02% | -17.58% |
Max Drawdown (1Y)Largest decline over 1 year | -5.16% | -1.58% | -3.58% |
Max Drawdown (3Y)Largest decline over 3 years | -11.16% | -3.79% | -7.37% |
Max Drawdown (5Y)Largest decline over 5 years | -28.84% | -12.02% | -16.82% |
Max Drawdown (10Y)Largest decline over 10 years | -28.84% | -12.02% | -16.82% |
Current DrawdownCurrent decline from peak | -3.87% | -0.57% | -3.30% |
Average DrawdownAverage peak-to-trough decline | -8.58% | -2.91% | -5.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 0.48% | +1.24% |
Volatility
WIP vs. TDTF - Volatility Comparison
SPDR FTSE International Government Inflation-Protected Bond ETF (WIP) has a higher volatility of 2.95% compared to FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF) at 0.73%. This indicates that WIP'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.
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Volatility by Period
| WIP | TDTF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.95% | 0.73% | +2.22% |
Volatility (6M)Calculated over the trailing 6-month period | 6.89% | 1.97% | +4.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.72% | 3.06% | +5.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.45% | 5.69% | +5.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.16% | 5.07% | +5.09% |
WIP vs. TDTF - Expense Ratio Comparison
WIP has a 0.50% expense ratio, which is higher than TDTF's 0.18% expense ratio.
Dividends
WIP vs. TDTF - Dividend Comparison
WIP's dividend yield for the trailing twelve months is around 5.79%, more than TDTF's 4.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund | 4.71% | 4.58% | 3.98% | 3.97% | 7.60% | 4.55% | 1.13% | 1.80% | 2.60% | 2.20% | 1.51% | 0.21% |
WIP SPDR FTSE International Government Inflation-Protected Bond ETF | 5.79% | 5.51% | 6.06% | 6.54% | 11.15% | 4.63% | 1.59% | 2.49% | 4.05% | 1.91% | 1.27% | 1.14% |
Frequently Asked Questions
WIP and TDTF have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WIP has higher volatility (2.95%) compared to TDTF (0.73%). In terms of maximum drawdown, WIP dropped -29.60% vs TDTF's -12.02%.
On 10-year performance, TDTF leads with 2.93% vs 1.61% for WIP. On fees, TDTF is cheaper at 0.18% per year. On volatility, TDTF has been the lower-risk option at 0.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TDTF has performed better with a 2.93% return vs 1.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TDTF is cheaper with a 0.18% expense ratio, compared with 0.50% for WIP.
WIP has the higher dividend yield at 5.79%, compared with 4.71% for TDTF.
WIP tracks FTSE International Inflation-Linked Securities Select (USD), while TDTF tracks iBoxx 5-Year Target Duration TIPS. They also come from different issuers: State Street and Northern Trust. Their fees differ too: 0.50% for WIP and 0.18% for TDTF.
TDTF currently has the higher Sharpe Ratio (1.67 vs 1.18), 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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