TDTF vs SPY

Comparison between FLEXSHARES IBOXX 5-YEAR TARGET DURATION TIPS INDEX FUND (TDTF, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed TDTF, delivering a return of +13.3% compared to +1.8%

TDTF vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	TDTF(ETF)	SPY(ETF)
Net Assets	$1B	$652B
Expense Ratio	0.18%	0.09%
Max Drawdown	20.88%	56.47%
Sharpe Ratio	0.52	2.07
5Y Beta	0.02	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	26.77%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

TDTF

$1B

Winner

SPY

$652B

Expense Ratio

TDTF

0.18%

Winner

SPY

0.09%

Max Drawdown

Winner

TDTF

20.88%

SPY

56.47%

Sharpe Ratio

TDTF

0.52

Winner

SPY

2.07

5Y Beta

Winner

TDTF

0.02

SPY

1.00

P/E Ratio

TDTF

N/A

SPY

28.24

Forward P/E

TDTF

N/A

SPY

21.85

5Y Dividends CAGR

Winner

TDTF

26.77%

SPY

5.43%

5Y EPS CAGR

TDTF

N/A

SPY

25.79%

Debt to Equity

TDTF

N/A

SPY

22.35%

P/S Ratio

TDTF

N/A

SPY

3.55

P/B Ratio

TDTF

N/A

SPY

5.29

TDTF vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	TDTF	SPY
1 month	+1.09%	+9.11%
3 months	+1.30%	+6.59%
6 months	+1.98%	+10.56%
1 year	+5.73%	+32.04%
5 years(CAGR)	+1.82%	+13.35%
10 years(CAGR)	+3.02%	+15.49%
Max(CAGR)	+2.31%	+8.50%

TDTF

+1.09%

Winner

SPY

+9.11%

TDTF

+1.30%

Winner

SPY

+6.59%

TDTF

+1.98%

Winner

SPY

+10.56%

TDTF

+5.73%

Winner

SPY

+32.04%

5Y(CAGR)

TDTF

+1.82%

Winner

SPY

+13.35%

10Y(CAGR)

TDTF

+3.02%

Winner

SPY

+15.49%

Max(CAGR)

TDTF

+2.31%

Winner

SPY

+8.50%

TDTF vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	TDTF	SPY
2026	+2.21%	+8.27%
2025	+7.74%	+18.00%
2024	+2.49%	+25.59%
2023	+3.79%	+26.72%
2022	-9.44%	-18.64%
2021	+5.37%	+30.52%
2020	+9.63%	+17.28%
2019	+7.99%	+31.09%
2018	-0.66%	-5.24%
2017	+1.85%	+20.78%
2016	+3.95%	+13.59%
2015	-0.97%	+1.31%
2014	-0.56%	+14.56%
2013	-4.95%	+29.00%
2012	+5.67%	+14.17%
2011	+0.65%	+0.85%
2010	N/A	+13.14%
2009	N/A	+22.67%
2008	N/A	-36.25%
2007	N/A	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

TDTF vs SPY Drawdown Comparison

The maximum drawdown for TDTF was -12.00%, occurring on Nov 3, 2022. Recovery took 771 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current TDTF drawdown is -0.04%.

Rank	TDTF	SPY
#1	-12.00% Mar 8, 2022 - Apr 3, 2025	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-9.60% Mar 5, 2020 - Apr 15, 2020	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-6.85% Sep 14, 2012 - Sep 7, 2017	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-4.11% Nov 17, 2021 - Mar 7, 2022	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-3.08% Sep 7, 2017 - Feb 20, 2019	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-2.56% Apr 3, 2025 - Jun 24, 2025	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-2.21% Feb 10, 2021 - Apr 28, 2021	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-2.09% Nov 18, 2011 - Jan 25, 2012	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-1.98% Sep 22, 2011 - Nov 1, 2011	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-1.89% Aug 29, 2019 - Jan 3, 2020	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-1.77% Apr 15, 2020 - Jun 1, 2020	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-1.58% Feb 27, 2026 - Apr 14, 2026	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-1.25% Feb 28, 2012 - Apr 11, 2012	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-1.24% May 10, 2021 - Jul 2, 2021	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-1.19% Jul 31, 2012 - Aug 28, 2012	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between TDTF and SPY is 0.94 which considered as a very strong positive correlation - the stocks move almost identically together.

0.94

-101

Dividend Comparison (1999 - 2026)

TDTF vs SPY dividend yield comparison.

Year	TDTF	SPY
2026	0.81%	0.24%
2025	4.58%	1.07%
2024	3.98%	1.21%
2023	3.97%	1.40%
2022	7.60%	1.65%
2021	4.55%	1.20%
2020	1.13%	1.52%
2019	1.80%	1.75%
2018	2.60%	2.04%
2017	2.20%	1.80%
2016	1.51%	2.03%
2015	0.21%	2.06%
2014	1.23%	1.87%
2013	0.17%	1.81%
2012	1.43%	2.18%
2011	0.21%	2.05%
2010	0.00%	1.80%
2009	0.00%	1.95%
2008	0.00%	3.02%
2007	0.00%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%