At a glance
TIPX charges 0.15% a year, above the 0.1% average of the 7 funds most like it (the 5th cheapest of 8). It has $1.91B in assets, the 5th largest of that group; it paid 5.14% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +0.5% with distributions reinvested, 6th of those 8 funds; over three years it returned +4.8% a year. At its worst it fell 7.9% in the 2020 crash (S&P 500: 33.7%) and 10.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 24 months after the lows. Its ten largest positions make up 38.8% of the fund, out of 32 in all.
The short version
SPDR Bloomberg 1-10 Year TIPS ETF (TIPX) is a State Street index fund. It holds U.S. Treasury Inflation-Protected Securities (TIPS) that mature in 1 to 10 years. As of June 30, 2026, its average maturity of 4.6 years put it between short-term TIPS funds and longer ones. It charges 0.15% a year. That is above the 0.10% average for similar funds and well above the 0.03% charged by Vanguard's VTIP and iShares' STIP.
Price history
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TIPX +0.5% 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 | |
|---|---|---|---|---|---|---|
| TIPX official prospectus, to Dec 31, 2025 | — | +7.15% | — | +2.37% | +3.19% | — |
| TIPX price data to Oct 27, 2026 | +0.7% | +0.5% | +4.8% | +1.5% | +2.8% | +2.2% |
- Over the year to Oct 27, 2026, TIPX returned +0.5%, 6th of 8 among similar funds.
- Its 5-year annualized return was +1.5% and its 10-year +2.8%.
- In the 2020 COVID crash it fell 7.9% and regained its old high 2.1 months after the low.
- Its worst full calendar year was 2022 (-7.6%); its best was 2020 (+8.6%).
- The deepest fall in its price history was 10.1% (Mar 8, 2022 to Sep 30, 2022), recovered by Sep 16, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +0.7% | — |
| 2025 | +7.2% | +7.15% |
| 2024 | +3.1% | +3.15% |
| 2023 | +4.4% | +4.35% |
| 2022 | -7.6% | -7.58% |
| 2021 | +5.5% | +5.47% |
| 2020 | +8.6% | +8.42% |
| 2019 | +6.6% | +6.76% |
| 2018 | -0.3% | -0.42% |
| 2017 | +2.6% | +1.77% |
| 2016 | +1.9% | +3.82% |
| 2015 | +0.7% | — |
| 2014 | +0.5% | — |
| 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 1.8% over that stretch · deepest drop along the way 7.9%, back to its old high 2.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 8.2% over that stretch · deepest drop along the way 10.1%, back to its old high 23.6 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.7500 | |
| 2025 | $0.7310 | +9.1% |
| 2024 | $0.6700 | +3.1% |
| 2023 | $0.6500 | -42.0% |
| 2022 | $1.1200 | +22.8% |
| 2021 | $0.9117 | +146.4% |
| 2020 | $0.3700 | -26.0% |
| 2019 | $0.5000 | +35.1% |
| 2018 | $0.3700 | -33.9% |
| 2017 | $0.5600 | +180.0% |
| 2016 | $0.2000 | +1900.0% |
| 2015 | $0.0100 | -96.4% |
| 2014 | $0.2800 |
What's inside
As of Jun 30, 2026, the fund held 32 securities; the ten largest made up 38.83% of assets.
| Holding | Weight | |
|---|---|---|
| United States Treasury Bonds and notes | 4.51% | |
| United States Treasury Bonds and notes | 4.24% | |
| United States Treasury Bonds and notes | 3.99% | |
| United States Treasury Bonds and notes | 3.90% | |
| United States Treasury Bonds and notes | 3.81% | |
| United States Treasury Bonds and notes | 3.78% | |
| United States Treasury Bonds and notes | 3.71% | |
| United States Treasury Bonds and notes | 3.70% | |
| United States Treasury Bonds and notes | 3.60% | |
| United States Treasury Bonds and notes | 3.60% | |
| United States Treasury Bonds and notes | 3.50% | |
| United States Treasury Bonds and notes | 3.50% | |
| United States Treasury Bonds and notes | 3.45% | |
| United States Treasury Bonds and notes | 3.44% | |
| United States Treasury Bonds and notes | 3.42% |
By country
United States 99.54%By issuer
US Treasury 99.54%The bonds mature in 4.6 years on average (weighted by size), with an average coupon of 1.33%.
Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $61.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +1.16%, 0.00%, -0.51%.
How it works
TIPX tracks the Bloomberg 1-10 Year U.S. Government Inflation-Linked Bond Index. Bloomberg Index Services, which has no ties to the fund, runs the index. The index holds TIPS, which are Treasury bonds whose principal rises with inflation and falls with deflation. A bond needs at least 1 year and less than 10 years left to maturity, plus at least $500 million outstanding. The index is rebalanced on the last business day of each month. It held 31 securities as of July 31, 2026.
The adviser, SSGA Funds Management, uses sampling. That means it can buy a subset of the index's bonds with similar risk and return, or nearly all of them in index weights. At least 80% of net assets must sit in index securities. As of June 30, 2026, the fund held 32 Treasury issues. No single note was above about 4.5%, and the top 10 made up 38.8%. Cash was 0.46%, and the fund held no derivatives.
Two mechanics matter. First, the inflation adjustment is added to principal, so the coupon (1.33% on average) is paid on a growing amount. Second, TIPS prices still fall when interest rates rise. With a 4.6-year average maturity, the fund reacts less to rate changes than long-term TIPS but more than 0-5 year funds. Portfolio turnover was 20%.
What it really costs
- TIPX charges 0.15% a year, versus an average of 0.1% for the similar funds below (5th of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $15 in the first year and $192 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| TIPX | $15 | $48 | $85 | $192 |
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 Treasury bonds whose principal adjusts with inflation, so its main job is protecting purchasing power, not growth.
TIPX could add inflation protection backed by the U.S. Treasury to the bond side of a portfolio. But inflation protection is not the same as stable prices. In the 2020 COVID crash it fell 7.9% in under two weeks, then recovered by May 22, 2020. As rates climbed in 2022, it fell 10.1% from March to September and took 23.6 months to recover. Its 2022 return was -7.58%. A retiree selling shares in late 2022 would have locked in losses. It launched in 2013, so it has no 2008 record. Its trailing yield was 5.14% as of October 27, 2026, paid quarterly. TIPS payouts rise and fall with inflation, so income can be uneven. In the SEC's $10,000 example, costs total $15 after one year and $192 after 10. 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 wanting TIPS across 1–10 year maturities, with a 4.6-year average maturity, in one Treasury-only fund.
- Retirees who want quarterly income that adjusts with inflation and can accept payouts that rise and fall with it.
- Investors weighing intermediate TIPS funds: at 0.15%, it costs less than FlexShares' TDTF at 0.18%, its closest match.
Look elsewhere if
- Cost-focused investors: Vanguard's VTIP and iShares' STIP charge 0.03% versus 0.15%, though they hold shorter-maturity TIPS.
- Anyone needing steady prices: it fell 10.1% in 2022 and took 23.6 months to recover.
- Investors wanting a cushion in sharp sell-offs: it dropped 7.9% in March 2020 before recovering two months later.
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 |
|---|---|---|---|---|---|
| TIPX this fund | 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% |
| VGIT Vanguard Intermediate-Term Treasury ETF | 5.5 yrs | 0.03% | $48.41B | -0.2% | +4.5% |
| 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% |
| PBTP Invesco 0-5 Yr US TIPS ETF | 2.4 yrs | 0.07% | $115.8M | +2.1% | +5.0% |
| VTIP Vanguard Short-Term Inflation-Protected Sec… | 2.4 yrs | 0.03% | $71.01B | +2.8% | +5.3% |
| STIP iShares 0-5 Year TIPS Bond ETF | 2.4 yrs | 0.03% | $15.91B | +2.1% | +4.8% |
Questions investors ask
Is TIPX good for retirement?
It may suit retirees who want inflation protection backed by the U.S. Treasury, but it is not risk-free. Its average annual return was 3.19% over 10 years and 2.37% over five, as of December 31, 2025. It lost 7.58% in 2022. From its peak, it fell 10.1% and took 23.6 months to recover. That matters for anyone who may need to sell shares in a bad year.
Does TIPX pay monthly dividends?
No. TIPX pays quarterly. Over the 12 months to October 27, 2026, it paid about $0.95 per share, a trailing yield of 5.14%. TIPS payouts include inflation adjustments, so income tends to rise when inflation is high and shrink when it cools. A year of strong inflation can make the trailing yield look higher than what later payouts may bring.
What's the difference between TIPX and TDTF?
Both hold intermediate-term TIPS. TIPX tracks a Bloomberg 1-10 year TIPS index and charges 0.15%. FlexShares' TDTF targets a 5-year duration and charges 0.18%. As of mid-2026, TDTF's average maturity was 5.2 years versus 4.6 for TIPX. As of October 27, 2026, both returned 4.8% a year over three years. Over one year, TIPX returned 0.5% and TDTF returned 0%.
What is TIPX's expense ratio?
TIPX's expense ratio is 0.15% a year, per its prospectus filed October 26, 2026, with no fee waiver. The SEC's standard example assumes $10,000 invested and a 5% annual return. On that basis, costs total about $15 after one year, $48 after three, $85 after five and $192 after 10. The average for similar funds is 0.10%, and VTIP and STIP charge 0.03%.
Can TIPX lose money?
Yes. TIPS protect against inflation, but their prices still fall when interest rates rise. TIPX lost 7.58% in 2022, and its worst quarter was -3.85% in the third quarter of 2022. In a period of deflation, the principal of a TIPS can shrink. The fund is not insured or guaranteed by the FDIC or any other government agency.