FPASvsTIPETF Comparison
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FPA Short Duration Government ETF (FPAS) belongs to the US Aggregate Bonds segment. iShares TIPS Bond ETF (TIP) is part of the Inflation-linked Bonds segment. FPAS's top 1 sector exposures are Sovereign. In contrast, TIP's top sector exposures are Sovereign and Non-Corporate. FPAS is more expensive with a Total Expense Ratio (TER) of 8.9%, versus 0.18% for TIP. FPAS is down -1.99% year-to-date (YTD) with +$12M in YTD flows. TIP performs better with -0.99% YTD performance, and +$1.19B in YTD flows. Run a side-by-side ETF comparison of FPAS and TIP below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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FPAS vs TIP performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FPAS TIP | +0.45%-0.41% | -1.41%-1.86% | -1.99%-0.99% | -1.93%-1.71% | n/a+13.69% | n/an/a |
| Flows | FPAS TIP | +$2M-$167M | +$5M+$262M | +$12M+$1.19B | +$12M+$1.22B | --$6.74B | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FPAS TIP | +3.49%+3.86% | +3.17%+3.42% | n/a+4.37% | n/an/a |
| Max drawdown | FPAS TIP | -2.71%-3.42% | -4.18%-3.85% | n/a-3.85% | n/an/a |
| Max drawdown duration | FPAS TIP | 52d55d | 229d232d | n/a232d | n/an/a |
Trading data
FPAS | TIP | |
Last sale 10/19/2026 at 1:46 PM | $23.93 | $105.54 |
| Previous close 10/19/2026 | $23.97 | $105.26 |
| Consolidated volume 10/19/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 20, 2026
1-year trailing difference
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FPAS
is actively managed and doesn’t replicate an indexFPAS | TIP | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/19/2026 at 1:46 PM
Live
Closed
FPAS | TIP | |
|---|---|---|
| Last price | $23.93 | $105.54 |
| 1D performance | -0.18% | +0.26% |
| AuM | $15.59 M | $14.41 B |
| E/R | 8.9% | 0.18% |
Characteristics
FPAS | TIP | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | First Pacific Advisors | iShares |
| Benchmark | - | ICE US Treasury Inflation Linked Bond Index |
| N° of holdings | 3 | 50 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 31, 2024 | January 2, 2023 |
| ESG | No | No |
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Exposure
Countries
FPAS
USA
97.99%
Other
2.01%
TIP
USA
100.4%
Other
-0.4%
Sectors
FPAS
Sovereign
97.99%
Other
2.01%
TIP
Sovereign
99.94%
Other
0.06%
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Diversification
FPAS
Total weight of top 3 holdings out of 3
97.99%
TIP
Total weight of top 15 holdings out of 15
52.34%
Top 15 holdings
Data as of August 31, 2026
FPAS
USA, Notes 4.125% 30jun2031, USD (AA-2031)
57.93%
USA, Notes 4.125% 31may2031, USD (Z-2031)
22.29%
USA, Notes 4.375% 31jul2031, USD (AB-2031)
17.77%
TIP
USA, TIPS 1.875% 15jul2035, USD (D-2035)
4.10%
USA, TIPS 2.125% 15jan2035, USD (A-2035)
4.02%
USA, TIPS 1.875% 15jan2036, USD (A-2036)
4.02%
USA, TIPS 1.875% 15jul2034, USD (D-2034)
3.77%
USA, TIPS 1.75% 15jan2034, USD (A-2034)
3.57%
USA, TIPS 1.25% 15apr2031, USD (X-2031)
3.41%
USA, TIPS 1.125% 15oct2030, USD (AE-2030)
3.40%
USA, TIPS 1.625% 15apr2030, USD (X-2030)
3.35%
USA, TIPS 1.125% 15jan2033, USD (A-2033)
3.34%
USA, TIPS 1.375% 15jul2033, USD (D-2033)
3.31%
USA, TIPS 0.625% 15jul2032, USD (D-2032)
3.30%
USA, TIPS 1.625% 15oct2029, USD (AE-2029)
3.28%
USA, TIPS 2.125% 15apr2029, USD (X-2029)
3.17%
USA, TIPS 2.375% 15oct2028, USD (AE-2028)
3.16%
USA, TIPS 0.125% 15jan2032, USD (A-2032)
3.13%
Frequently asked questions about FPAS and TIP
How have the FPAS and TIP ETFs performed in 2026?
As of October 16, 2026, FPAS is down -1.99% year-to-date (YTD), while TIP has lost -0.99%. That puts TIP better performer ahead so far this year.
Which ETF is attracting more investor money: FPAS or TIP?
Year-to-date, the FPAS ETF saw +$12M in flows, compared to +$1.19B for TIP.
Which ETF is more volatile: FPAS or TIP?
Over the past year, FPAS had a volatility of 3.17%, while TIP experienced 3.42%.
Which ETF is bigger: FPAS or TIP?
As of October 16, 2026, FPAS holds $15.59 M in assets under management (AUM), while TIP manages $14.41 B.
What sectors do the FPAS and TIP ETFs invest in?
FPAS leans toward sectors like Sovereign. Meanwhile, TIP focuses on Sovereign.
What are the top holdings of the FPAS ETF and TIP ETF?
FPAS top holdings include USA, Notes 4.125% 30jun2031, USD (AA-2031), USA, Notes 4.125% 31may2031, USD (Z-2031) and USA, Notes 4.375% 31jul2031, USD (AB-2031). TIP holds in its top three: USA, TIPS 1.875% 15jul2035, USD (D-2035), USA, TIPS 2.125% 15jan2035, USD (A-2035) and USA, TIPS 1.875% 15jan2036, USD (A-2036).
Which ETF is more diversified: FPAS or TIP?
FPAS has 3 securities. TIP has 50 securities and a top 15 weight of 52.34%.
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Latest news about FPAS & TIP
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