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PBTP vs TIP

Invesco 0-5 Yr US TIPS ETF

PBTPACboe

iShares TIPS Bond ETF

TIPBNYSE Arca

Overlap

No data

Expense ratio

PBTP −0.11pt a year

PBTP0.07%TIP0.18%

Avg volume · 30D

TIP 22.5×the volume

PBTP83.7KTIP1.88M

5Y return · a year

PBTP +2.9pt

PBTP+3.0%TIP+0.1%

PBTP vs TIP Performance

Oct 29, 2021 – Oct 30, 2026

+15.8%PBTP+0.5%TIP

Oct 29, 2021 to Oct 30, 2026. PBTP +15.8%. TIP +0.5%. Use the arrow keys to read each point.−10%−5%5%10%Oct 2021Apr 2024Oct 2026
Expense ratio
PBTP 0.07%, better
TIP 0.18%
Fund size
PBTP $248M
TIP $14.6B
1Y total return
PBTP +2.7%, better
TIP 0.0%
Yield (12M)
PBTP 3.99%
TIP 4.41%, better
Holdings
PBTP 27
TIP 50
Avg volume (30D)
PBTP 83.7K sh
TIP 1.88M sh, better
NAV per share
PBTP $25.80
TIP $106.69
52W range

ETF.net Grade

PBTP: Cost 90, Risk 74, Mission 57, Tradability 58, Holdings 82, Durability 64. TIP: Cost 31, Risk 35, Mission 100, Tradability 94, Holdings 78, Durability 88.
Pillar letters and Scores for PBTP, TIP, with each pillar’s weight
PillarPBTPTIP
Cost30% weightA90HigherD31
Mission25% weightB57A100Higher
Risk15% weightA74HigherD35
Tradability15% weightB58A94Higher
Holdings10% weightA82HigherA78
Durability5% weightB64A88Higher

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. PBTP and TIP 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 TIP 9th 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 7BTIPXState Street SPDR Bloomberg 1-10 Year TIPS ETFScore 67
  7. Rank 9BTIPiShares TIPS Bond ETFScore 65
  8. Rank 10BDFIPDimensional Inflation-Protected Securities ETFScore 63

Our read on each fund

ETF.net Research

PBTPAInvesco 0-5 Yr US TIPS ETF

TIPBiShares TIPS Bond ETF

In short

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.

TIP The 2003-vintage TIPS fund: roughly 50 inflation-linked Treasuries, tracked tightly and traded heavily. You pay up for that depth, because cheaper TIPS wrappers now exist.

Stated mandate

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

TIP The fund seeks to track an index of inflation-protected U.S. Treasury bonds, providing fixed-income exposure and a potential hedge against inflation.

Why people hold it

  • 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.
  • TIP Owns the inflation-linked Treasury market straight: about 50 TIPS, where the hedge is built into the bonds themselves rather than layered on with derivatives.ishares.com
  • A multi-billion-dollar fund that trades actively and stays very close to its benchmark, the ICE U.S. Treasury Inflation Linked Bond Index.
  • Trading since 2003, one of the longest-tenured inflation-linked bond funds on the market, with a large iShares fixed-income operation behind it.

Worth knowing

  • 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.
  • TIP At 0.18% a year it runs above the median Treasury fund in its group, and SCHP covers similar TIPS ground for 0.03%.
  • Inflation protection is not price protection. The index spans the full TIPS curve, including long maturities, so rising real yields drag on the share price.ishares.com
  • Payouts arrive on an irregular schedule and move with inflation accruals, so income here behaves less like a steady coupon than a nominal bond fund's.

Full PBTP profile⁠

Full TIP profile⁠

PBTP vs TIP 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.

PBTP vs TIP Cost

Overpaying TIP vs PBTP

$2,269

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

  • PBTP 0.07%

    $1,480

  • TIP 0.18%

    $3,749

$10,000
30 years

Cost over time

  • PBTP 0.07%
  • TIP 0.18%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K051015202530TIP $3,749PBTP $1,480

Year by year

YearPBTPTIPOverpaying
10$128$328$200
20$503$1,281$778
30$1,480$3,749$2,269

Expense ratio

  • 0.07%PBTP, cheaper
  • 0.18%TIP
  • Middle half of TIPS funds
  • Median 0.10%

PBTP 5th cheapest of 40 funds

TIP 27th cheapest of 40 funds

PBTP vs TIP Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
PBTP 3.99%
TIP 4.41%, better
Payout (12M)
PBTP $1.03
TIP $4.71
Last payment
PBTP $0.02
TIP $0.78
Ex-dividend
PBTP Sep 21, 2026
TIP Aug 3, 2026
Paid on
PBTP Sep 25, 2026
TIP Aug 6, 2026
Frequency
PBTP Quarterly
TIP Monthly

Distribution history

Per share, 2017 to 2026, same scale for both

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
TIPMonthly · 90 paymentsAll TIP payments⁠
One bar per payment. 90 payments from 2017 to 2026 YTD. Apr 3, 2017 $0.16; May 1, 2017 $0.28; Jun 1, 2017 $0.26; Jul 3, 2017 $0.29; Aug 1, 2017 $0.22; Sep 1, 2017 $0.24; Oct 2, 2017 $0.05; Nov 1, 2017 $0.22; Dec 1, 2017 $0.50; Dec 21, 2017 $0.16; Feb 1, 2018 $0.02; Apr 2, 2018 $0.29; May 1, 2018 $0.50; Jun 1, 2018 $0.34; Jul 2, 2018 $0.43; Aug 1, 2018 $0.47; Sep 4, 2018 $0.39; Oct 1, 2018 $0.10; Nov 1, 2018 $0.09; Dec 3, 2018 $0.16; Dec 18, 2018 $0.18; May 1, 2019 $0.03; Jun 3, 2019 $0.64; Jul 1, 2019 $0.61; Aug 1, 2019 $0.27; Sep 3, 2019 $0.06; Oct 1, 2019 $0.20; Nov 1, 2019 $0.02; Dec 2, 2019 $0.10; Dec 19, 2019 $0.11; Feb 3, 2020 $0.13; Apr 1, 2020 $0.18; May 1, 2020 $0.30; Oct 1, 2020 $0.42; Nov 2, 2020 $0.32; Dec 1, 2020 $0.13; Dec 17, 2020 $0.02; Apr 1, 2021 $0.30; May 3, 2021 $0.52; Jun 1, 2021 $0.68; Jul 1, 2021 $0.83; Aug 2, 2021 $0.78; Sep 1, 2021 $0.90; Oct 1, 2021 $0.43; Nov 1, 2021 $0.12; Dec 1, 2021 $0.19; Dec 16, 2021 $0.79; Feb 1, 2022 $0.44; Mar 1, 2022 $0.23; Apr 1, 2022 $0.80; May 2, 2022 $0.94; Jun 1, 2022 $1.37; Jul 1, 2022 $0.57; Aug 1, 2022 $1.15; Sep 1, 2022 $1.44; Dec 1, 2022 $0.13; Dec 15, 2022 $0.35; Apr 3, 2023 $0.13; May 1, 2023 $0.57; Jun 1, 2023 $0.31; Jul 3, 2023 $0.50; Aug 1, 2023 $0.22; Sep 1, 2023 $0.32; Oct 2, 2023 $0.17; Nov 1, 2023 $0.45; Dec 1, 2023 $0.26; Apr 1, 2024 $0.06; May 1, 2024 $0.69; Jun 3, 2024 $0.73; Jul 1, 2024 $0.44; Aug 1, 2024 $0.17; Sep 3, 2024 $0.03; Oct 1, 2024 $0.12; Nov 1, 2024 $0.09; Dec 2, 2024 $0.19; Dec 18, 2024 $0.16; Apr 1, 2025 $0.71; May 1, 2025 $0.53; Jun 2, 2025 $0.27; Jul 1, 2025 $0.38; Aug 1, 2025 $0.26; Sep 2, 2025 $0.42; Oct 1, 2025 $0.20; Nov 3, 2025 $0.36; Dec 1, 2025 $0.32; Dec 19, 2025 $0.34; May 1, 2026 $0.56; Jun 1, 2026 $1.28; Jul 1, 2026 $1.06; Aug 3, 2026 $0.78. Use the arrow keys to read each point.$0$12017202020232026YTD

PBTP vs TIP Risk

Fall from peak · 5 years

  • PBTP
  • TIP
Oct 29, 2021 to Oct 30, 2026. Worst fall: TIP −14.5% · Oct 2023. Use the arrow keys to read each point.−12.5%−10%−7.5%−5%−2.5%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
PBTP 1.9%, betterTIP 4.5%
Return per unit of riskSharpe ratio, 3 years
PBTP 0.28, betterTIP 0.05
Worst fallMax drawdown, 5 years
PBTP −5.5%, betterTIP −14.5%
Market sensitivityBeta, 5 years
PBTP 0.20TIP 0.69

PBTP and TIP in the news

All news⁠

Popular comparisons

  • PBTPAvsSCHPA

    Invesco 0-5 Yr US TIPS ETF · Schwab US TIPS ETF

    Expense ratio
    0.07% · 0.03%
    Category
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  • PBTPAvsVTPA

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