Overview
Short-maturity inflation-protected Treasuries — CPI-linked principal with under five years of duration, the inflation hedge that tracks headline prices fastest.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| TIPS | 0.125% TIPS 2027 | 5.8% |
| TIPS | 0.375% TIPS 2027 | 5.4% |
| TIPS | 0.625% TIPS 2028 | 5.2% |
| TIPS | 1.25% TIPS 2028 | 4.9% |
| TIPS | 0.875% TIPS 2029 | 4.7% |
| TIPS | 0.125% TIPS 2030 | 4.4% |
| TIPS | 1.625% TIPS 2029 | 4.2% |
| TIPS | 0.5% TIPS 2028 | 3.9% |
| TIPS | 2.375% TIPS 2027 | 3.7% |
| TIPS | 1.75% TIPS 2030 | 3.4% |
Fund Details
Investment Thesis
Short TIPS are the purest CPI trade: with minimal duration, STIP's returns track realised inflation rather than rate expectations — the fund that actually paid during 2022 while long TIPS fell. With inflation stuck near 3.4% and the Fed debating hikes, its inflation-linked coupons currently throw off distributions above 5%. The trade-off is modest real yield when inflation normalises.
Who It's For
Inflation-worried savers who want CPI protection now, not a duration bet on future rates. The cash-adjacent inflation hedge; SCHP's long-duration cousin covers the strategic version.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $88.99 | -- |
| 2017 | $89.43 | +0.5% |
| 2018 | $89.43 | +0.0% |
| 2019 | $92.12 | +3.0% |
| 2020 | $95.80 | +4.0% |
| 2021 | $99.63 | +4.0% |
| 2022 | $95.65 | -4.0% |
| 2023 | $97.56 | +2.0% |
| 2024 | $99.51 | +2.0% |
| 2025 | $102.00 | +2.5% |
| Year | Yield |
|---|---|
| 2016 | 0.50% |
| 2017 | 1.50% |
| 2018 | 2.20% |
| 2019 | 2.00% |
| 2020 | 1.10% |
| 2021 | 4.50% |
| 2022 | 6.80% |
| 2023 | 4.00% |
| 2024 | 3.60% |
| 2025 | 4.80% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $1.5B | -- |
| 2017 | $2B | +33.3% |
| 2018 | $2.5B | +25.0% |
| 2019 | $3.5B | +40.0% |
| 2020 | $5B | +42.9% |
| 2021 | $9B | +80.0% |
| 2022 | $12B | +33.3% |
| 2023 | $11B | -8.3% |
| 2024 | $13B | +18.2% |
| 2025 | $15B | +15.4% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of September 2026.
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