Morningstar’s Analysis TIP Will TIP outperform in the future? Get our overall rating based on a fundamental assessment of the pillars below. Process Pillar The Process Pillar is our assessment of how sensible, clearly defined, and repeatable TIP’s performance objective and investment process is for both security selection and portfolio construction. The Process Pillar is our assessment of how sensible, clearly defined, and repeatable TIP’s performance objective and investment process is for both security selection and portfolio construction. People Pillar The People Pillar is our evaluation of the TIP management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers. The People Pillar is our evaluation of the TIP management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers. Parent Pillar The Parent Pillar is our rating of TIP’s parent organization’s priorities and whether they’re in line with investors’ interests. The Parent Pillar is our rating of TIP’s parent organization’s priorities and whether they’re in line with investors’ interests. Sound exposure to TIPS. IShares TIPS Bond ETF offers a well-constructed portfolio covering the full spectrum of US Treasury Inflation-Protected Securities at a reasonably low fee. However, there are cheaper alternatives. Unlock our full analysis with Morningstar Investor Portfolio Holdings TIP Current Portfolio Date Sep 11, 2026 Equity Holdings — Bond Holdings — Other Holdings — % Assets in Top 10 Holdings 36.2 United States Treasury Notes 1.875% United States Treasury Notes 2.125%

United States Treasury Notes 1.875% United States Treasury Notes 1.875% United States Treasury Notes 1.75% United States Treasury Notes 1.25% United States Treasury Notes 1.125% United States Treasury Notes 1.625% United States Treasury Notes 1.125% United States Treasury Notes 0.625% All Products & Services Our Signature Methodologies Morningstar Investment Conference Corporate Sustainability Investor Relations Advertising Opportunities Investing Terms and Definitions Global Contacts Affiliate Program © Copyright 2026 Morningstar, Inc. All rights reserved. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. Terms and Conditions Member User Agreement Do Not Sell or Share My Personal Information