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LTPZ vs PBTP

PIMCO 15+ Year U.S. TIPS Index Exchange-Traded Fund

LTPZCNYSE Arca

Invesco 0-5 Yr US TIPS ETF

PBTPACboe

Overlap

No data

Expense ratio

PBTP −0.13pt a year

LTPZ0.20%PBTP0.07%

Avg volume · 30D

LTPZ 5.5×the volume

LTPZ457KPBTP83.7K

5Y return · a year

PBTP +10.4pt

LTPZ−7.4%PBTP+3.0%

LTPZ vs PBTP Performance

Oct 29, 2021 – Oct 30, 2026

−31.8%LTPZ+15.8%PBTP

Oct 29, 2021 to Oct 30, 2026. LTPZ −31.8%. PBTP +15.8%. Use the arrow keys to read each point.−40%−20%−10%0%Oct 2021Apr 2024Oct 2026
Expense ratio
LTPZ 0.20%
PBTP 0.07%, better
Fund size
LTPZ $1.01B
PBTP $248M
1Y total return
LTPZ −6.6%
PBTP +2.7%, better
Yield (12M)
LTPZ 6.23%, better
PBTP 3.99%
Holdings
LTPZ 17
PBTP 27
Avg volume (30D)
LTPZ 457K sh, better
PBTP 83.7K sh
NAV per share
LTPZ $47.38
PBTP $25.80
52W range

ETF.net Grade

LTPZ: Cost 21, Risk 4, Mission 71, Tradability 57, Holdings 63, Durability 76. PBTP: Cost 90, Risk 74, Mission 57, Tradability 58, Holdings 82, Durability 64.
Pillar letters and Scores for LTPZ, PBTP, with each pillar’s weight
PillarLTPZPBTP
Cost30% weightF21A90Higher
Mission25% weightA71HigherB57
Risk15% weightF4A74Higher
Tradability15% weightB57B58Higher
Holdings10% weightB63A82Higher
Durability5% weightA76HigherB64

Rank among TIPS funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. LTPZ and PBTP are both graded against the same 40 TIPS funds, so their Grades compare head to head.

TIPS⁠

Category · 40 funds
See all 40 ›

PBTP ranks 4th and LTPZ 29th of 40 funds in the TIPS Category.

  1. Rank 1ASCHPSchwab US TIPS ETFScore 85
  2. Rank 2ASTIPiShares 0-5 Year TIPS Bond ETFScore 80
  3. Rank 3AVTPVanguard Total Inflation-Protected Securities ETFScore 77
  4. Rank 4APBTPInvesco 0-5 Yr US TIPS ETFScore 72
  5. Rank 4AVTIPVanguard Short-Term Inflation-Protected Securities ETFScore 72
  6. Rank 28CIBIMiShares iBonds Oct 2036 Term TIPS ETFScore 46
  7. Rank 29CLTPZPIMCO 15+ Year U.S. TIPS Index Exchange-Traded FundScore 43
  8. Rank 30CLIAELifeX 2050 Inflation-Protected Longevity Income ETFScore 40

Our read on each fund

ETF.net Research

LTPZCPIMCO 15+ Year U.S. TIPS Index Exchange-Traded Fund

PBTPAInvesco 0-5 Yr US TIPS ETF

In short

LTPZ Inflation protection with the duration dial cranked all the way up. LTPZ holds only TIPS maturing in 15 years or more, so it swings on long-term real yields far more than a whole-curve inflation fund.

PBTP Inflation-linked Treasuries with the long end cut off: PBTP holds only TIPS maturing inside five years, keeping the CPI adjustment while dialing down interest-rate swings.

Stated mandate

LTPZ The fund seeks total returns that closely track, before fees and expenses, the return of its specified index. It uses representative sampling to obtain exposure to that index.

PBTP The fund provides exposure to US Treasury Inflation-Protected Securities with remaining maturities from one month to less than five years.

Why people hold it

  • LTPZ Owns only Treasury inflation-linked bonds maturing in 15 years or more, the long slice that broad TIPS funds dilute with short notes.pimco.com
  • Rules-based, not a curve-timing bet: it samples the 15+ year U.S. inflation-linked Treasury index instead of leaving maturity calls to a manager.pimco.com
  • Has run the same long-TIPS mandate since launching in 2009, a track record spanning very different rate and inflation regimes.
  • PBTP Costs 0.07% a year, under the 0.12% median for Treasury bond ETFs.
  • Narrow by design: only TIPS with one month to under five years remaining, which leaves out the long-dated bonds that drive most price swings in broad TIPS funds.invesco.com
  • Index-tracked and running at Invesco since 2017, with distributions paid quarterly.

Worth knowing

  • LTPZ At 0.20% a year it costs more than the typical Treasury bond ETF, and whole-curve TIPS options such as SCHP charge a fraction of that.
  • Long maturities cut both ways. When long-term real yields rise, prices drop hard. Inflation-linked does not mean price-stable.pimco.com
  • Mid-sized and moderately traded, so spreads can show up in your fill price, and its payouts land irregularly rather than on a set schedule.
  • PBTP Thinly traded next to the big names in the aisle, so spreads can run wider and sizeable orders take more care.
  • Broad TIPS funds such as SCHP charge 0.03% and cover the whole maturity ladder. Here you pay a bit more to skip the long end.
  • Short maturities cut both ways: less real-yield duration means smaller moves when rates fall as well as when they rise.

Full LTPZ profile⁠

Full PBTP profile⁠

LTPZ vs PBTP Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

LTPZ vs PBTP Cost

Overpaying LTPZ vs PBTP

$2,675

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • LTPZ 0.20%

    $4,155

  • PBTP 0.07%

    $1,480

$10,000
30 years

Cost over time

  • LTPZ 0.20%
  • PBTP 0.07%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K$5K051015202530LTPZ $4,155PBTP $1,480

Year by year

YearLTPZPBTPOverpaying
10$365$128$237
20$1,421$503$918
30$4,155$1,480$2,675

Expense ratio

  • 0.20%LTPZ
  • 0.07%PBTP, cheaper
  • Middle half of TIPS funds
  • Median 0.10%

PBTP 5th cheapest of 40 funds

LTPZ 31st cheapest of 40 funds

LTPZ vs PBTP Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
LTPZ 6.23%, better
PBTP 3.99%
Payout (12M)
LTPZ $2.96
PBTP $1.03
Last payment
LTPZ $0.46
PBTP $0.02
Ex-dividend
LTPZ Aug 3, 2026
PBTP Sep 21, 2026
Paid on
LTPZ Aug 5, 2026
PBTP Sep 25, 2026
Frequency
LTPZ Monthly
PBTP Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

LTPZMonthly · 86 paymentsAll LTPZ payments⁠
One bar per payment. 86 payments from 2017 to 2026 YTD. Apr 3, 2017 $0.20; May 1, 2017 $0.20; Jun 1, 2017 $0.06; Jul 3, 2017 $0.24; Aug 1, 2017 $0.08; Sep 1, 2017 $0.09; Nov 1, 2017 $0.16; Dec 1, 2017 $0.30; Dec 28, 2017 $0.23; Apr 2, 2018 $0.30; May 1, 2018 $0.30; Jun 1, 2018 $0.19; Jul 2, 2018 $0.24; Aug 1, 2018 $0.25; Sep 4, 2018 $0.15; Nov 1, 2018 $0.16; Dec 3, 2018 $0.32; Dec 28, 2018 $0.15; Jul 1, 2019 $0.20; Aug 1, 2019 $0.18; Sep 3, 2019 $0.06; Oct 1, 2019 $0.15; Nov 1, 2019 $0.15; Dec 2, 2019 $0.20; Dec 30, 2019 $0.31; Apr 1, 2020 $0.29; May 1, 2020 $0.17; Sep 1, 2020 $0.25; Oct 1, 2020 $0.30; Nov 2, 2020 $0.19; Dec 1, 2020 $0.06; Apr 1, 2021 $0.24; May 3, 2021 $0.32; Jun 1, 2021 $0.41; Jul 1, 2021 $0.49; Aug 2, 2021 $0.48; Sep 1, 2021 $0.50; Oct 1, 2021 $0.22; Nov 1, 2021 $0.08; Dec 1, 2021 $0.13; Dec 30, 2021 $0.38; Feb 1, 2022 $0.33; Mar 1, 2022 $0.20; Apr 1, 2022 $0.53; May 2, 2022 $0.63; Jun 1, 2022 $0.85; Jul 1, 2022 $0.36; Aug 1, 2022 $0.65; Sep 1, 2022 $0.90; Dec 1, 2022 $0.12; Dec 29, 2022 $0.31; Apr 3, 2023 $0.21; May 1, 2023 $0.35; Jun 1, 2023 $0.24; Jul 3, 2023 $0.36; Aug 1, 2023 $0.15; Sep 1, 2023 $0.21; Oct 2, 2023 $0.12; Nov 1, 2023 $0.29; Dec 1, 2023 $0.17; Apr 1, 2024 $0.28; May 1, 2024 $0.36; Jun 3, 2024 $0.47; Jul 1, 2024 $0.26; Aug 1, 2024 $0.12; Sep 3, 2024 $0.04; Oct 1, 2024 $0.09; Nov 1, 2024 $0.08; Dec 2, 2024 $0.13; Dec 31, 2024 $0.10; Mar 3, 2025 $0.03; Apr 1, 2025 $0.45; May 1, 2025 $0.33; Jun 2, 2025 $0.19; Jul 1, 2025 $0.23; Aug 1, 2025 $0.17; Sep 2, 2025 $0.24; Oct 1, 2025 $0.14; Nov 3, 2025 $0.22; Dec 1, 2025 $0.20; Dec 31, 2025 $0.20; Apr 1, 2026 $0.02; May 1, 2026 $0.53; Jun 1, 2026 $0.70; Jul 1, 2026 $0.63; Aug 3, 2026 $0.46. Use the arrow keys to read each point.$0$12017202020232026YTD
PBTPQuarterly · 33 paymentsAll PBTP payments⁠
One bar per payment. 33 payments from 2017 to 2026 YTD. Dec 18, 2017 $0.18; Jun 18, 2018 $0.29; Sep 24, 2018 $0.20; Dec 24, 2018 $0.08; Jun 24, 2019 $0.29; Sep 23, 2019 $0.12; Dec 23, 2019 $0.12; Mar 23, 2020 $0.001; Jun 22, 2020 $0.01; Sep 21, 2020 $0.08; Dec 21, 2020 $0.23; Jun 21, 2021 $0.13; Sep 20, 2021 $0.35; Dec 20, 2021 $0.35; Mar 21, 2022 $0.13; Jun 21, 2022 $0.40; Sep 19, 2022 $0.51; Dec 19, 2022 $0.26; Mar 20, 2023 $0.0073; Jun 20, 2023 $0.29; Sep 18, 2023 $0.16; Dec 18, 2023 $0.13; Mar 18, 2024 $0.03; Jun 24, 2024 $0.43; Sep 23, 2024 $0.09; Dec 23, 2024 $0.11; Mar 24, 2025 $0.21; Jun 23, 2025 $0.27; Sep 22, 2025 $0.22; Dec 22, 2025 $0.30; Mar 23, 2026 $0.04; Jun 22, 2026 $0.68; Sep 21, 2026 $0.02. Use the arrow keys to read each point.$0$12017202020232026YTD

LTPZ vs PBTP Risk

Fall from peak · 5 years

  • LTPZ
  • PBTP
Oct 29, 2021 to Oct 30, 2026. Worst fall: LTPZ −41.0% · Oct 2023. Use the arrow keys to read each point.−40%−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
LTPZ 11.5%PBTP 1.9%, better
Return per unit of riskSharpe ratio, 3 years
LTPZ −0.09PBTP 0.28, better
Worst fallMax drawdown, 5 years
LTPZ −41.0%PBTP −5.5%, better
Market sensitivityBeta, 5 years
LTPZ 1.95PBTP 0.20

LTPZ and PBTP in the news

All news⁠

Popular comparisons

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