At a glance
GTIP charges 0.12% a year, below the 0.15% average of the 7 funds most like it (the 3rd cheapest of 8). It has $280.5M in assets, the 8th largest of that group; it paid 5.35% of its price in distributions over the past 12 months, quarterly. Over the past year it returned −0.7% with distributions reinvested, 6th of those 8 funds; over three years it returned +4.5% a year. At its worst it fell 10.5% in the 2020 crash (S&P 500: 33.7%) and 14.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 40 months after the lows. Its ten largest positions make up 48.6% of the fund, out of 38 in all.
The short version
Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP) is an index fund that holds U.S. Treasury Inflation-Protected Securities (TIPS). TIPS are government bonds whose principal rises and falls with consumer prices. Its FTSE index leaves out the newest issues and any issue under $5 billion. The 0.12% expense ratio is below the 0.15% peer average but well above Schwab's SCHP at 0.03%. GTIP is the smallest of eight similar funds compared.
Price history
The interactive chart needs JavaScript.
GTIP -0.7% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| GTIP official prospectus, to Dec 31, 2024 | — | +1.92% | — | +1.80% | — | +2.67% |
| GTIP price data to Oct 27, 2026 | +0.1% | -0.7% | +4.5% | -0.1% | — | +3.0% |
- Over the year to Oct 27, 2026, GTIP returned -0.7%, 6th of 8 among similar funds.
- Its 5-year annualized return was -0.1%.
- In the 2020 COVID crash it fell 10.5% and regained its old high 2.8 months after the low.
- Its worst full calendar year was 2022 (-12.1%); its best was 2020 (+10.8%).
- The deepest fall in its price history was 14.3% (Nov 9, 2021 to Oct 10, 2022), recovered by Feb 12, 2026.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +0.1% | — |
| 2025 | +6.7% | — |
| 2024 | +2.0% | +1.92% |
| 2023 | +3.9% | +4.09% |
| 2022 | -12.1% | -12.03% |
| 2021 | +5.9% | +5.62% |
| 2020 | +10.8% | +10.87% |
| 2019 | +8.3% | +8.34% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 1.1% over that stretch · deepest drop along the way 10.5%, back to its old high 2.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 12.7% over that stretch · deepest drop along the way 14.3%, back to its old high 40.1 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.9400 | |
| 2025 | $2.2646 | +33.2% |
| 2024 | $1.7000 | +25.0% |
| 2023 | $1.3600 | -56.7% |
| 2022 | $3.1400 | +40.2% |
| 2021 | $2.2400 | +279.7% |
| 2020 | $0.5900 | -51.6% |
| 2019 | $1.2200 |
What's inside
As of Aug 31, 2026, the fund held 38 securities; the ten largest made up 48.65% of assets.
| Holding | Weight | |
|---|---|---|
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 6.48% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 6.14% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 5.55% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 4.78% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 4.72% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 4.70% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 4.48% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 4.27% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 3.88% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 3.64% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 3.59% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 3.36% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 3.13% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 3.08% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 3.06% |
By country
United States 99.36%By issuer
US Treasury 99.36%The bonds mature in 7.1 years on average (weighted by size), with an average coupon of 1.14%.
Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors added a net $16.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.41%, -0.80%, +0.04%.
How it works
GTIP tracks the FTSE Goldman Sachs Treasury Inflation Protected USD Bond Index. FTSE Fixed Income owns and calculates this custom index. It starts from the U.S. part of the FTSE World Inflation-Linked Securities Index and uses ideas developed with Goldman Sachs Asset Management. The rules keep only TIPS with at least one year left to maturity and at least $5 billion outstanding. They then drop "on-the-run" bonds, which are the newest issue at each maturity. As of November 30, 2025, the index held 43 issues.
The index does not weight bonds by size. It sets weights so the index matches the real yield duration of the eligible bonds. Duration measures how much a bond's price reacts to interest-rate changes, and real yield is the yield after inflation. As of November 30, 2025, the real yield duration was 6.59 years and the average maturity was 7.19 years. That means a 1-point rise in real yields would cut prices by roughly 6.6%. The index normally rebalances on the last business day of each month.
The fund must put at least 80% of its assets in index securities. It uses "representative sampling," which means it can hold a subset of bonds with similar overall traits instead of every bond in the index. It held 38 issues as of August 31, 2026. Each TIPS bond's principal is adjusted to the Consumer Price Index for Urban Consumers (CPI-U), so a period of deflation can reduce it.
What it really costs
- GTIP charges 0.12% a year, versus an average of 0.15% for the similar funds below (3rd of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $12 in the first year and $154 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| GTIP | $12 | $39 | $68 | $154 |
Structure and tax notes
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
It holds only U.S. Treasury bonds whose principal is tied to consumer prices, so its main job is to protect the bond part of a portfolio against inflation.
GTIP launched in 2018, so it has no record from 2008. In the 2020 COVID crash it fell 10.5% between March 6 and March 18, then recovered by June 10. When interest rates jumped in 2022, inflation protection was not enough. The fund lost 12.1% that year, its worst calendar year. Its deepest drop, 14.3%, ran from November 2021 to October 2022 and took about 40 months to recover, until February 2026. A retiree who sold shares in 2022 for spending money would have sold at a loss. The trailing 12-month yield was 5.35% as of October 27, 2026, and it pays quarterly. Payouts include inflation adjustments, so they can swing a lot from year to year. In the SEC's standard example, the 0.12% fee costs $12 on $10,000 in the first year. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want U.S. government-backed bonds whose principal moves with consumer prices, spread across 38 TIPS issues as of August 31, 2026.
- People comfortable with medium-term rate risk: the index's real yield duration was 6.59 years as of November 30, 2025.
- Investors who like an index that skips the newest and smaller TIPS issues, at 0.12% a year versus a 0.15% peer average.
Look elsewhere if
- Investors focused on cost: Schwab U.S. TIPS ETF (SCHP) charges 0.03% and has a similar 7.2-year average maturity.
- Anyone who needs stable value: GTIP fell 14.3% from November 2021 to October 2022 and took about 40 months to recover.
- Those who want predictable income: the quarterly payouts include inflation adjustments and can shift sharply as inflation rises or falls.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
| Fund | Avg. maturity | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| GTIP this fund | 7.1 yrs | 0.12% | $280.5M | -0.7% | +4.5% |
| SCHP Schwab U.S. TIPS ETF | 7.2 yrs | 0.03% | $16.52B | -0.3% | +4.3% |
| TIP iShares TIPS Bond ETF | 6.9 yrs | 0.18% | $14.60B | -0.3% | +4.1% |
| DFIP Dimensional Inflation-Protected Securities … | 6.9 yrs | 0.11% | $1.12B | -1.1% | +4.7% |
| SPIP SPDR Portfolio TIPS ETF | 7.4 yrs | 0.12% | $1.01B | -1.0% | +4.5% |
| TDTF FlexShares iBoxx 5-Year Target Duration TIP… | 5.2 yrs | 0.18% | $1.04B | 0.0% | +4.8% |
| TIPX SPDR Bloomberg 1-10 Year TIPS ETF | 4.6 yrs | 0.15% | $1.91B | +0.5% | +4.8% |
| JCPI JPMorgan Inflation Managed Bond ETF | 6.9 yrs | 0.25% | $898.5M | -0.4% | +5.5% |
Questions investors ask
Is GTIP a good inflation hedge?
Partly. GTIP holds TIPS, whose principal is adjusted to the Consumer Price Index for Urban Consumers (CPI-U), so its income and principal rise with measured inflation. But TIPS prices still fall when real interest rates rise. In 2022, a year of high inflation, GTIP lost 12.1% as rates jumped. The CPI-U may also not match the price changes a given household faces. Deflation can reduce TIPS principal and income too.
What's the difference between GTIP and SCHP?
Both hold U.S. TIPS with similar average maturities: 7.1 years for GTIP and 7.2 years for SCHP. SCHP costs 0.03% a year against GTIP's 0.12%. It is also far larger, with $16.5 billion in assets as of June 30, 2026, versus GTIP's $281 million as of August 31, 2026. GTIP's index leaves out the newest issues and weights bonds to match a target duration. Over one year, SCHP returned 0.4% through October 30, 2026, and GTIP returned -0.7% through October 27, 2026.
Does GTIP pay monthly dividends?
No. GTIP pays quarterly. Its trailing 12-month yield was 5.35%, or $2.53 per share, as of October 27, 2026. Much of a TIPS fund's payout comes from inflation adjustments to principal, so payouts tend to grow when inflation is high and shrink when it cools. The prospectus also warns that these inflation adjustments can create taxable income for the fund, which it then passes on to shareholders.
How has GTIP performed since it launched?
Its returns have been modest. As of December 31, 2024, the prospectus shows average annual returns of 1.92% over one year, 1.80% over five years and 2.67% since it launched in October 2018. Based on price data through October 27, 2026, it returned -0.7% over one year, 4.5% a year over three years and -0.1% a year over five years. Its three-year return ranked 7th of 8 similar TIPS funds.
How much does GTIP cost to own?
GTIP's expense ratio is 0.12%, according to its prospectus filed December 29, 2025. In the SEC's standard example ($10,000 invested, a 5% yearly return, shares sold at the end of each period), costs total $12 after one year, $39 after three, $68 after five and $154 after ten. That matches SPDR Portfolio TIPS ETF at 0.12%. It is close to Dimensional's DFIP at 0.11% and below iShares TIP at 0.18%, but well above Schwab's SCHP at 0.03%.