At a glance
STIP charges 0.03% a year, below the 0.14% average of the 7 funds most like it (the cheapest of 8). It has $15.91B in assets, the 2nd largest of that group; it paid 4.71% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +2.1% with distributions reinvested, 2nd of those 8 funds; over three years it returned +4.8% a year. At its worst it fell 5.3% in the 2020 crash (S&P 500: 33.7%) and 5.5% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 15 months after the lows. Its ten largest positions make up 50.1% of the fund, out of 24 in all.
The short version
The iShares 0-5 Year TIPS Bond ETF (STIP) tracks the ICE U.S. Treasury 0-5 Year Inflation Linked Bond Index. It holds Treasury Inflation-Protected Securities (TIPS) with five years or less left until they mature. Their short maturities, which averaged 2.4 years as of July 31, 2026, keep its price swings smaller than those of longer-dated TIPS funds. At 0.03% a year, it ties Vanguard's VTIP for the lowest cost among eight similar funds.
Price history
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STIP +2.1% over the year to Nov 2, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| STIP official prospectus, to Dec 31, 2025 | — | +6.03% | — | +3.56% | +3.18% | — |
| ICE BofA US Broad Market Index index, same period | — | +7.15% | — | -0.42% | +2.01% | — |
| STIP price data to Nov 2, 2026 | +1.9% | +2.1% | +4.8% | +2.9% | +3.1% | +2.3% |
- Over the year to Nov 2, 2026, STIP returned +2.1%, 2nd of 8 among similar funds.
- Its 5-year annualized return was +2.9% and its 10-year +3.1%.
- In the 2020 COVID crash it fell 5.3% and regained its old high 2.4 months after the low.
- Its worst full calendar year was 2022 (-3.0%); its best was 2025 (+6.0%).
- The deepest fall in its price history was 5.5% (Mar 11, 2022 to Sep 30, 2022), recovered by Dec 14, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +1.9% | — |
| 2025 | +6.0% | +6.03% |
| 2024 | +4.8% | +4.78% |
| 2023 | +4.6% | +4.59% |
| 2022 | -3.0% | -2.81% |
| 2021 | +5.7% | +5.48% |
| 2020 | +5.3% | +5.16% |
| 2019 | +4.9% | +4.90% |
| 2018 | +0.5% | +0.50% |
| 2017 | +0.7% | +0.80% |
| 2016 | +2.7% | +2.77% |
| 2015 | -0.1% | — |
| 2014 | -1.2% | — |
| 2013 | -1.8% | — |
| 2012 | +2.1% | — |
| 2011 | +4.5% | — |
| 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 2% over that stretch · deepest drop along the way 5.3%, back to its old high 2.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 3.4% over that stretch · deepest drop along the way 5.5%, back to its old high 14.5 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $3.6400 | |
| 2025 | $4.2000 | +59.1% |
| 2024 | $2.6400 | -5.4% |
| 2023 | $2.7900 | -52.4% |
| 2022 | $5.8600 | +33.5% |
| 2021 | $4.3900 | +187.1% |
| 2020 | $1.5291 | -26.1% |
| 2019 | $2.0700 | -13.4% |
| 2018 | $2.3900 | +50.3% |
| 2017 | $1.5900 | +78.7% |
| 2016 | $0.8900 | +18.7% |
| 2014 | $0.7500 | +141.9% |
| 2013 | $0.3100 | -71.6% |
| 2012 | $1.0900 | -56.7% |
| 2011 | $2.5200 |
What's inside
As of Jul 31, 2026, the fund held 24 securities; the ten largest made up 50.07% of assets, and 4.29% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| United States of America Bonds and notes | 5.36% | |
| United States of America Bonds and notes | 5.31% | |
| United States of America Bonds and notes | 5.28% | |
| United States of America Bonds and notes | 5.17% | |
| United States of America Bonds and notes | 4.99% | |
| United States of America Bonds and notes | 4.97% | |
| United States of America Bonds and notes | 4.83% | |
| United States of America Bonds and notes | 4.75% | |
| United States of America Bonds and notes | 4.70% | |
| United States of America Bonds and notes | 4.70% | |
| United States of America Bonds and notes | 4.57% | |
| United States of America Bonds and notes | 4.41% | |
| United States of America Bonds and notes | 4.26% | |
| United States of America Bonds and notes | 4.20% | |
| United States of America Bonds and notes | 4.10% |
By country
United States 95.45%By issuer
US Treasury 95.45%The bonds mature in 2.4 years on average (weighted by size), with an average coupon of 1.13%.
Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $1.33B (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.03%, -0.30%, +0.22%.
How it works
STIP tracks the ICE U.S. Treasury 0-5 Year Inflation Linked Bond Index. ICE Data Indices runs the index and is independent of BlackRock. The index holds Treasury Inflation-Protected Securities (TIPS) with five years or less left to maturity. Each month, a TIPS bond's principal is adjusted for changes in the Consumer Price Index (CPI). The bond's fixed coupon is then paid on that adjusted principal, so both principal and interest rise with inflation.
To qualify, a bond needs a fixed coupon, US dollar denomination and at least $300 million outstanding, not counting the Federal Reserve's holdings. Treasury bills, floating-rate notes, STRIPS and securities sold mainly to retail investors are excluded. Each bond is weighted by its amount outstanding minus Fed holdings. The index rebalances on the last calendar day of each month.
BlackRock Fund Advisors uses representative sampling. This means it buys a set of bonds that matches the index's yield, maturity and duration (sensitivity to interest rates) without necessarily owning every issue. At least 80% of assets must be in index bonds. As of July 31, 2026, the fund held about two dozen TIPS issues, none above roughly 5.4% of assets, and no derivatives. The fund may also lend securities worth up to one-third of its assets.
What it really costs
- STIP charges 0.03% a year, versus an average of 0.14% for the similar funds below (1st of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $3 in the first year and $39 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| STIP | $3 | $10 | $17 | $39 |
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 short-term TIPS whose principal rises with the CPI, so it aims to keep pace with inflation while keeping price swings small.
STIP may help protect the spending power of money a retiree expects to need within a few years. In the 2020 COVID crash it fell 5.3% between March 5 and March 18, 2020, and recovered by May 29. Its deepest drop was 5.5%, from March 11 to September 30, 2022, and it took about 14.5 months to recover. Its worst calendar year was 2022, at -2.81%. The fund launched in December 2010, so it has no record from 2008. Someone forced to sell in 2022 would have faced a loss of a few percent.
The yield over the trailing 12 months was 4.69% as of October 29, 2026, paid quarterly. Payouts reflect inflation adjustments, so income can shrink when inflation cools. The fund costs 0.03% a year, or $3 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
- Retirees holding a few years of spending money in bonds who want it to track CPI inflation, with holdings averaging 2.4 years to maturity.
- Cost-focused investors: 0.03% a year, about $39 over 10 years on $10,000 in the SEC example, versus a 0.14% average for similar funds.
- Investors wanting small price swings: three-year volatility (a measure of price swings) of 1.9% and a deepest drop of 5.5% since its 2010 launch.
Look elsewhere if
- Investors wanting longer-dated inflation protection may compare iShares TIPS Bond ETF (TIP), whose holdings average 6.9 years to maturity.
- Those needing steady, predictable income: payouts follow inflation adjustments, so they can fall when inflation cools, and distributions come quarterly.
- Investors seeking growth: STIP returned 3.18% a year on average over the 10 years through December 31, 2025.
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 |
|---|---|---|---|---|---|
| STIP this fund | 2.4 yrs | 0.03% | $15.91B | +2.1% | +4.8% |
| VTIP Vanguard Short-Term Inflation-Protected Sec… | 2.4 yrs | 0.03% | $71.01B | +2.8% | +5.3% |
| PBTP Invesco 0-5 Yr US TIPS ETF | 2.4 yrs | 0.07% | $115.8M | +2.1% | +5.0% |
| TDTT FlexShares iBoxx 3-Year Target Duration TIP… | 2.9 yrs | 0.18% | $2.55B | +1.4% | +4.9% |
| STPZ PIMCO 1-5 Year US TIPS Index Exchange-Trade… | 2.9 yrs | 0.2% | $526.5M | +1.4% | +4.8% |
| TIPX SPDR Bloomberg 1-10 Year TIPS ETF | 4.6 yrs | 0.15% | $1.91B | +0.5% | +4.8% |
| TDTF FlexShares iBoxx 5-Year Target Duration TIP… | 5.2 yrs | 0.18% | $1.04B | 0.0% | +4.8% |
| TIP iShares TIPS Bond ETF | 6.9 yrs | 0.18% | $14.60B | -0.3% | +4.1% |
Questions investors ask
What's the difference between STIP and VTIP?
There is very little difference in what they hold. Both own TIPS maturing within five years, with an average maturity of 2.4 years, and both charge 0.03% a year. STIP tracks an ICE index and had $15.9 billion in net assets as of July 31, 2026. Vanguard's VTIP had $71.0 billion as of June 30, 2026. As of October 29, 2026, both had returned 2.5% over one year. Over three years, VTIP returned 5.2% a year and STIP 5.0%.
What's the difference between STIP and TIP?
The main differences are maturity and cost. iShares TIPS Bond ETF (TIP) holds longer-dated TIPS, with an average maturity of 6.9 years against 2.4 years for STIP. That makes TIP's price react more to interest-rate changes. TIP charges 0.18% a year, compared with STIP's 0.03%. As of October 29, 2026, TIP had returned -0.3% over one year and STIP 2.5%. TIP gives more exposure to longer-term rates, for better and worse.
What is STIP's dividend yield?
STIP's yield over the trailing 12 months was 4.69% as of October 29, 2026. That is based on $4.74 per share in distributions, paid quarterly. Much of the payout comes from inflation adjustments, not interest: the bonds' average coupon was only 1.13% as of July 31, 2026. As a result, payouts tend to rise and fall with CPI inflation and can drop when inflation slows. That makes the income less predictable than a regular Treasury fund's.
Can STIP lose money?
Yes, though its losses have been modest. Its deepest drop was 5.5%, from March 11 to September 30, 2022, and it took about 14.5 months to recover. It lost 2.81% in calendar 2022, and its worst quarter, ending September 30, 2022, lost 2.62%. TIPS prices fall when real interest rates (yields after inflation) rise. The inflation adjustment does not protect or guarantee the value of your investment.
Is STIP good for retirement?
It may suit retirees who want short-term bond money to keep pace with inflation. Over the 10 years through December 31, 2025, it returned 3.18% a year on average. Its worst calendar year was 2022, at -2.81%. In the SEC's standard example, the 0.03% expense ratio costs about $39 over 10 years on $10,000. It is not built for growth, and its income can swing with inflation.