STIP offers coverage of the US short-term TIPS market. The fund's duration and yield are typically what we would expect from a short-term TIPS fund. Like all Treasury debts, TIPS are issued by and backed by the full faith and credit of the US government. On top of that, the fund is short-term in nature, so it bears minimal interest rate risk. In all, STIP is a viable option for investors seeking comprehensive exposure to the short-term TIPS market. Prior to January 31, 2023, this fund tracked the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 05 Years Index.
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