LTPZ ETF: What Is It? Returns, Expense Ratio, Holdings, and Alternative ETFs Explained
The PIMCO 15+ Year U.S. TIPS ETF is a passive product that invests in long-maturity Treasury Inflation-Protected Securities, seeking inflation protection and dividend income. Interest rate sensitivity, fees, and the inflation outlook are the key items to check, and comparison with short-term TIPS ETFs is the main selection criterion. The ticker is LTPZ.
SubscribeWhat Is the PIMCO 15+ Year U.S. TIPS ETF?
It is a passive bond ETF that tracks an index of long-maturity U.S. Treasury Inflation-Protected Securities. Because the principal of these securities is linked to inflation, the fund offers inflation protection together with long-duration exposure.
It suits income-oriented investors who want long-term inflation protection and are willing to accept the high interest rate sensitivity that comes with long maturities.
The ETF is managed by PIMCO using a passive (index-tracking) approach.
How Does the PIMCO 15+ Year U.S. TIPS ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | Long-maturity U.S. TIPS index |
| Management Style | Passive (index tracking) |
| Rebalancing Frequency | Periodic (per index rules) |
| Dividend Frequency | Quarterly |
| Expense Ratio | 0.20% |
The fund tracks an index of long-maturity U.S. Treasury Inflation-Protected Securities. The principal of TIPS is linked to the Consumer Price Index, which protects against inflation, but their long maturities also mean prices swing sharply when interest rates change.
- Concentrated in long-maturity inflation-protected Treasuries
- Inflation protection combined with high interest rate sensitivity
PIMCO 15+ Year U.S. TIPS ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $1.1B, and the annual expense ratio is 0.20%.
It offers stronger inflation protection than short-term TIPS ETFs, but its longer duration makes its price far more sensitive to interest rate changes.
PIMCO 15+ Year U.S. TIPS ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeLong-term TIPS react sensitively to the direction of real yields and to inflation expectations. They tend to perform well when inflation expectations rise or real yields fall, but when real yields rise, their long duration can lead to steep price declines.
Money tends to flow into TIPS ETFs when inflation concerns grow, and when worries about rising real yields increase, funds seeking to reduce duration risk sometimes shift into short-term TIPS.
PIMCO 15+ Year U.S. TIPS ETF Pros and Cons
Its strength is long-term inflation protection, while its weaknesses are high interest rate sensitivity and the risk of rising real yields.
💪 Key Strengths
⚠️ Points to Watch
PIMCO 15+ Year U.S. TIPS ETF Alternatives and Related Products
The STIP, SCHP, and TIP shown in the table are TIPS ETFs that either span a broad range of maturities or focus on the short end, so their duration is shorter. For more TIPS exposure, you can also compare the short-term TIPS ETF VTIP and the broad TIPS ETF SPIP. They differ in duration, inflation protection, and fees, so it is best to choose according to your interest rate outlook.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 STIP | iShares 0-5 Year TIPS Bond ETF | $100.52 | +0.0% | $16.7B | 0.03% | 4.7% | -2.8% |
 SCHP | Schwab U.S. Tips ETF | $25.44 | +0.2% | $16.2B | 0.03% | 4.94% | -6.0% |
 TIP | iShares TIPS Bond ETF | $105.48 | +0.2% | $14.4B | 0.18% | 4.46% | -5.6% |
 TDTT | Northern Trust iBoxx 3-Year Target Duration TIPS ETF | $23.43 | +0.0% | $2.5B | 0.18% | 4.88% | -3.8% |
 DFIP | Dimensional Inflation-Protected Securities ETF | $39.51 | +0.0% | $1.1B | 0.11% | 5.36% | -7.0% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 USLM | United States Lime & Minerals Inc | 0.45% | $106.51 | -0.1% | $3.1B | 22.8 | 0.23% |
 BNO | United States Brent Oil Fund LP | 0.45% | $66.87 | -0.4% | $0.0M | - | - |
PIMCO 15+ Year U.S. TIPS ETF Investor Checkpoints
Here are the points to review before investing in LTPZ. As a long-term TIPS ETF, it is important to check its interest rate sensitivity, the inflation outlook, volatility, and fee level in advance.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the fee of the passive TIPS ETF | Needs checking |
| ⏱️ Duration | Check the high rate sensitivity that comes with long maturities | Long |
| 📈 Inflation | Impact of inflation expectations on performance | Needs checking |
| 📉 Volatility | Check volatility given the nature of long-term bonds | High |
Because of its long duration, prices can fall sharply when real yields rise, and price volatility is high given the nature of long-term bonds. You should also consider that the benefit of the inflation-linked principal shrinks when prices are falling.
It is a passive ETF suited to income-oriented investors who want long-term inflation protection and are willing to accept the interest rate sensitivity that comes with long maturities. To reduce interest rate risk, a short-term TIPS ETF can be an alternative, while LTPZ may be the better choice if long-term inflation protection is the priority.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 4, 2026.
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