# TIPS Yield

> An independent educational reference for U.S. Treasury Inflation-Protected Securities (TIPS), featuring a free TIPS ladder calculator, real-yield history, and guides to buying, taxes, and retirement-income planning.

Canonical website: https://tipsyield.com/

TIPS here means U.S. Treasury Inflation-Protected Securities. The site's focus is inflation-protected retirement income, individual TIPS ladders, real yields, breakeven inflation, and comparisons with TIPS funds and Series I savings bonds.

The calculator and reference articles are free and require no account. The TIPS Primer and Excel workbook are a separate paid educational product. TIPS Yield is not affiliated with the U.S. Treasury or TreasuryDirect.

For citations, use the specific canonical page supporting the statement. Preserve observation dates with yield figures; a page visit date is not a data observation date. TreasuryDirect and relevant government publications remain primary sources.

Calculator results are estimates in today's dollars. The model uses annual coupons, a par-purchase approximation, interpolated yield assumptions, and backward cash-flow sizing. It does not select CUSIPs or provide executable prices. Market premiums, accrued interest, security-specific inflation index ratios, taxes, spreads, and reinvested surplus coupons are outside the model. Read the methodology alongside any estimate.

The 2037–2039 maturity-gap discussion is date-sensitive. Verify current maturity availability before repeating it as a current fact. Fund costs, tax rules, auction schedules, and prices also require current source verification.

## TIPS ladder planning

- [Free TIPS ladder calculator](https://tipsyield.com/): Estimate cost from income years, annual spending, and editable real yields; customize income by year, export CSV, and print.
- [Calculator methodology](https://tipsyield.com/methodology): Cash-flow formulas, par-price assumptions, coupon floor, surplus income, and website/workbook differences.
- [TIPS ladder gap years](https://tipsyield.com/gap-years): The 2037–2039 maturity gap and planning alternatives.
- [How to buy TIPS](https://tipsyield.com/how-to-buy-tips): Auctions, TreasuryDirect, brokerages, and the secondary market.

## Real yields and data

- [10-year TIPS yield and breakeven history](https://tipsyield.com/real-yields): Historical observations, source notes, and dates.
- [5-year TIPS yield history](https://tipsyield.com/5-year-tips-yield): Shorter-maturity real yields.
- [30-year TIPS yield history](https://tipsyield.com/30-year-tips-yield): Longer-maturity real yields.
- [Reference yields JSON](https://tipsyield.com/api/yields): y5, y10, y30, and n10 are percentage values; 2.43 means 2.43 percent. asOf dates real yields; nominalAsOf may separately date nominal yields. source identifies provenance and stale flags old or fallback data. Compare yields from matching dates.
- [Historical observations JSON](https://tipsyield.com/api/history): real5, real10, real30, and bei10 contain [date, value] pairs in percent. Check each series' last date independently.

## Fundamentals, taxes, and comparisons

- [What are TIPS?](https://tipsyield.com/what-are-tips): Principal adjustments, coupons, real yields, and risks.
- [Individual TIPS versus funds](https://tipsyield.com/funds-vs-individual): Maturity-based spending plans versus continuously managed funds.
- [TIPS versus I Bonds](https://tipsyield.com/tips-vs-i-bonds): Product, purchase, and liquidity differences.
- [TIPS taxes and phantom income](https://tipsyield.com/phantom-income): Tax treatment of interest and inflation adjustments, cash flow, and account location.
- [TIPS ETF comparison](https://tipsyield.com/best-tips-etfs): Fund characteristics, duration, and costs. Check dates and current sponsor information.
- [SCHP versus VTIP](https://tipsyield.com/schp-vs-vtip): Broad-maturity versus short-duration TIPS funds.

## Primary sources

- [TreasuryDirect: TIPS](https://www.treasurydirect.gov/marketable-securities/tips/): Official Treasury product information.
- [FRED: 10-year real yield, DFII10](https://fred.stlouisfed.org/series/DFII10): Source-series reference.

## Optional

- [TIPS Primer and Excel workbook](https://tipsyield.com/guide): Paid product contents, current advertised price, and purchase information.
- [Free primer sample](https://tipsyield.com/guide-sample): A genuine excerpt and complete table of contents.
- [About, sources, and contact](https://tipsyield.com/about): Publication background, corrections, and contact.
- [Privacy policy](https://tipsyield.com/privacy): Calculator data, analytics, advertising, and payments.
- [Sitemap](https://tipsyield.com/sitemap.xml): Canonical public-page inventory.

## Expanded reference pages

- [TIPS Price Calculation: Index Ratio and Settlement Cost](https://tipsyield.com/tips-price-calculation): Follow a TIPS quote from face amount and clean price to inflation-adjusted principal, accrued interest and total settlement.
- [Selling TIPS Before Maturity: Price Risk and Cash Flow](https://tipsyield.com/selling-tips-before-maturity): Understand how a TIPS can lose market value before maturity, with an interest-rate sensitivity example and a checklist before selling.
- [TIPS vs Treasury Bonds: Breakeven Inflation and Tradeoffs](https://tipsyield.com/tips-vs-treasuries): Compare real and nominal Treasury yields using a transparent compounding example, with inflation, tax and cash-flow limitations.
- [Fed Rate Hike September 2026: What It Means for TIPS](https://tipsyield.com/fed-rate-hike-tips): The Fed raised the funds rate a quarter point to 3.75% to 4.00% on September 16, 2026. How real yields, breakevens, TIPS prices and ladder costs moved, and what did not change.
- [How Much Does a TIPS Ladder Cost? Worked Examples](https://tipsyield.com/tips-ladder-cost): Compare illustrative 10-, 20- and 30-year TIPS ladder costs across real-yield assumptions, with reproducible calculator inputs.
- [TIPS Auction Calendar: Announcements, Dates and Results](https://tipsyield.com/tips-auction-calendar): View a dated snapshot of announced TIPS auctions and recent results, with issue dates, maturities and Treasury sources.
- [TIPS Maturity Schedule: Outstanding Bonds and Missing Years](https://tipsyield.com/tips-maturity-schedule): Inspect a dated inventory of outstanding TIPS by CUSIP, coupon and maturity date, with downloadable data and gap-year context.
- [TIPS Ladder: How It Works, With a Cash-Flow Example](https://tipsyield.com/tips-ladder): Learn how a TIPS ladder funds retirement spending with a worked cash-flow example, missing-maturity considerations and a buying checklist.
- [10-Year TIPS Auction, January 22, 2026: 1.940% Real Yield](https://tipsyield.com/10-year-tips-auction-january-2026): Treasury sold $21 billion of the 10-Year TIPS maturing January 15, 2036 at a 1.940% high real yield on January 22, 2026, with bid-to-cover 2.38 and full bidder detail.
- [30-Year TIPS Auction, February 19, 2026: 2.473% Real Yield](https://tipsyield.com/30-year-tips-auction-february-2026): Treasury sold $9 billion of the 30-Year TIPS maturing February 15, 2056 at a 2.473% high real yield on February 19, 2026, with bid-to-cover 2.75 and full bidder detail.
- [10-Year TIPS Reopening, March 19, 2026: 1.896% Real Yield](https://tipsyield.com/10-year-tips-auction-march-2026): Treasury sold $20.96 billion of the 10-Year TIPS maturing January 15, 2036 at a 1.896% high real yield on March 19, 2026, with bid-to-cover 2.47 and full bidder detail.
- [5-Year TIPS Auction, April 23, 2026: 1.367% Real Yield](https://tipsyield.com/5-year-tips-auction-april-2026): Treasury sold $29.27 billion of the 5-Year TIPS maturing April 15, 2031 at a 1.367% high real yield on April 23, 2026, with bid-to-cover 2.57 and full bidder detail.
- [10-Year TIPS Reopening, May 21, 2026: 2.169% Real Yield](https://tipsyield.com/10-year-tips-auction-may-2026): Treasury sold $19 billion of the 10-Year TIPS maturing January 15, 2036 at a 2.169% high real yield on May 21, 2026, with bid-to-cover 2.52 and full bidder detail.
- [5-Year TIPS Reopening, June 18, 2026: 1.955% Real Yield](https://tipsyield.com/5-year-tips-auction-june-2026): Treasury sold $27.59 billion of the 5-Year TIPS maturing April 15, 2031 at a 1.955% high real yield on June 18, 2026, with bid-to-cover 2.61 and full bidder detail.
- [10-Year TIPS Auction, July 23, 2026: 2.438% Real Yield](https://tipsyield.com/10-year-tips-auction-july-2026): Treasury sold $23.32 billion of the 10-Year TIPS maturing July 15, 2036 at a 2.438% high real yield on July 23, 2026, with bid-to-cover 2.30 and full bidder detail.
- [30-Year TIPS Reopening, August 20, 2026: 2.973% Real Yield](https://tipsyield.com/30-year-tips-auction-august-2026): Treasury sold $9.03 billion of the 30-Year TIPS maturing February 15, 2056 at a 2.973% high real yield on August 20, 2026, with bid-to-cover 2.82 and full bidder detail.
- [10-Year TIPS Reopening, September 17, 2026: 2.653% Real Yield](https://tipsyield.com/10-year-tips-auction-september-2026): Treasury sold $21.86 billion of the 10-Year TIPS maturing July 15, 2036 at a 2.653% high real yield on September 17, 2026, with bid-to-cover 2.24 and full bidder detail.
- [March 2026 CPI 330.213: TIPS Reference CPI for May and June](https://tipsyield.com/march-2026-cpi-tips): The March 2026 CPI-U of 330.213 sets the daily TIPS reference CPI for May 2026 and the June 1, 2026 value. Monthly change +1.05%, principal effect and the seasonal pattern.
- [April 2026 CPI 333.020: TIPS Reference CPI for June and July](https://tipsyield.com/april-2026-cpi-tips): The April 2026 CPI-U of 333.020 sets the daily TIPS reference CPI for June 2026 and the July 1, 2026 value. Monthly change +0.85%, principal effect and the seasonal pattern.
- [May 2026 CPI 335.123: TIPS Reference CPI for July and August](https://tipsyield.com/may-2026-cpi-tips): The May 2026 CPI-U of 335.123 sets the daily TIPS reference CPI for July 2026 and the August 1, 2026 value. Monthly change +0.63%, principal effect and the seasonal pattern.
- [June 2026 CPI 333.952: TIPS Reference CPI for August and September](https://tipsyield.com/june-2026-cpi-tips): The June 2026 CPI-U of 333.952 sets the daily TIPS reference CPI for August 2026 and the September 1, 2026 value. Monthly change -0.35%, principal effect and the seasonal pattern.
- [July 2026 CPI 333.918: TIPS Reference CPI for September and October](https://tipsyield.com/july-2026-cpi-tips): The July 2026 CPI-U of 333.918 sets the daily TIPS reference CPI for September 2026 and the October 1, 2026 value. Monthly change -0.01%, principal effect and the seasonal pattern.
- [August 2026 CPI 334.980: TIPS Reference CPI for October and November](https://tipsyield.com/august-2026-cpi-tips): The August 2026 CPI-U of 334.980 sets the daily TIPS reference CPI for October 2026 and the November 1, 2026 value. Monthly change +0.32%, principal effect and the seasonal pattern.
- [TIPS Auction Results: Yields, Bid-to-Cover and Previews](https://tipsyield.com/tips-auction-results): Every TIPS auction since January 1, 2026 with the high real yield, bid-to-cover ratio and amount sold, plus a preview page for each announced auction.
- [TIPS CPI Updates: Monthly CPI-U and Reference CPI](https://tipsyield.com/tips-cpi-updates): Each monthly CPI-U print with the month-over-month change and the TIPS reference CPI it sets two and three months later.