Data as of Oct 28, 2026.
SPIP vs TIPX: Differences, Returns & Fees
On Jun 30, 2026 SPIP's duration was 6.7 years and TIPX's 4.4; SPIP charges 0.12% to TIPX's 0.15%.
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Net assets on Oct 27, 2026: $1.1bn for State Street SPDR Portfolio TIPS ETF and $2.1bn for State Street SPDR Bloomberg 1-10 Year TIPS ETF.
Pair scorecard
SPIP costs 0.03 points a year less; their one-year returns differ by 1.5 points; TIPX is 1.9 times larger.
| Measure | SPIP | TIPX |
|---|---|---|
| Return | ||
| Total return, 1 year | −1.0% | +0.5% |
| Benchmark | ||
| What it tracks | Bloomberg U.S. Government Inflation-Linked Bond Index | Bloomberg 1-10 Year U.S. Government Inflation-Linked Bond Index |
| Cost and size | ||
| Expense ratio | 0.12% | 0.15% |
| Net assets, as of Oct 27, 2026 | $1.1bn | $2.1bn |
| Holdings | ||
| Holdings in common | 81% | |
Holdings in common uses holdings dated Jun 30, 2026. Method
Risk and return
Jun 7, 2013 to Oct 23, 2026 · 698 weekly returns · each against AGGTIPX returned slightly more: +33.2% to +30.7%. TIPX swung less: 4.0% to 5.8%. TIPX fell less at its worst: −9.8% to −15.0%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | SPIP | TIPX | AGG | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +30.7% | +33.2% | TIPX (slight) | Price change plus distributions, reinvested. | |
| Annualized | +2.0% | +2.2% | TIPX (slight) | Total return as a yearly rate. | |
| Price return | −13.4% | −7.6% | TIPX | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 5.8% | 4.0% | TIPX | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 4.3% | 3.0% | TIPX | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −15.0% | −9.8% | TIPX | Deepest fall from a high to the low after it. | |
| Upside capture | 100.5% | 59.8% | 100.0% | SPIP | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 98.2% | 57.0% | 100.0% | TIPX | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.96 | 0.59 | 1.00 | TIPX lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.65 | 0.51 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.04 | 0.08 | TIPX | Return above Treasury bills per unit of volatility. | |
| Sortino | 0.06 | 0.11 | TIPX | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.003 | 0.005 | 0.000 | TIPX | Return above Treasury bills per unit of beta. |
| Calmar | 0.13 | 0.22 | TIPX | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | AGG | AGG | AGG | The ETF each fund is measured against. | |
| Alpha | +0.3% a year | +0.3% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.28 | 0.41 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −1.6% to +2.1% | −1.2% to +1.8% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | 0.08 | 0.09 | TIPX | Return against its benchmark per unit of tracking error. | |
| Tracking error | 3.4% | 3.5% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 698 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SPIP and TIPX hold 81% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026.
half
81% in common
Only in one fund ↓
Side by side
SPIP and TIPX on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SPIP and TIPX are built for the same job. How do they differ in cost, holdings and results?
- What each follows. SPIP follows Bloomberg U.S. Government Inflation-Linked Bond Index and TIPX follows Bloomberg 1-10 Year U.S. Government Inflation-Linked Bond Index.
- Holdings in common (similar). 81% of the weight is in the same securities (holdings dated Jun 30, 2026).
- One-year total return (similar). Over 1 year to Oct 28, 2026 SPIP returned −1.0% and TIPX +0.5% with distributions reinvested, a gap of 1.5 points.
Data as of Oct 28, 2026.
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SPIP
SPIP tracks an index. Over the year to Oct 28, 2026 it returned −1.0% with distributions reinvested, against −1.4% for its benchmark, the Bloomberg U.S. Aggregate Bond Index. The prospectus expense ratio is 0.12% a year.
TIPX
TIPX tracks an index. Over the year to Oct 28, 2026 it returned +0.5% with distributions reinvested, against −1.4% for its benchmark, the Bloomberg U.S. Aggregate Bond Index. The prospectus expense ratio is 0.15% a year.
Questions people ask
- Which returned more over the last year, SPIP or TIPX?
- In the year to Oct 28, 2026, with distributions reinvested, SPIP returned −1.0% and TIPX +0.5%.
- Which is cheaper, SPIP or TIPX?
- SPIP is cheaper, by 0.03 percentage points a year. That is about $3 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, SPIP against TIPX, data as of Oct 28, 2026. https://etfiq.com/compare/any/spip-vs-tipx
ETFIQ. (Oct 28, 2026). SPIP against TIPX. Retrieved from https://etfiq.com/compare/any/spip-vs-tipx
[SPIP against TIPX (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/spip-vs-tipx)
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