---
title: "TIPS Real Yield History"
description: "Historical 10-year TIPS real yield data from 2003 to 2026, including the August 2021 record low of -1.19% and the return to positive real yields in 2022."
canonical: https://www.getswoopr.com/tables/bonds/tips-real-yield-history/
source: "Swoopr Investment: https://www.getswoopr.com"
---

## Direct Answer



> TIPS pay a fixed real yield (above inflation) plus inflation adjustment via CPI. The 10-year TIPS real yield fell to -1.19% on August 3, 2021, meaning investors were willing to accept guaranteed loss of purchasing power to hold U.S. government bonds. Real yields turned positive in April 2022, reached 2.52% in October 2023 and 2.95% on October 5, 2026.








# TIPS (Treasury Inflation-Protected Securities) Real Yield History



## 10-Year TIPS Real Yield at Selected Dates



| Date | 10-Yr TIPS Real Yield |
| --- | --- |
| Jan 2003 | 2.43% |
| Jan 2005 | 1.70% |
| Jan 2008 | 1.59% |
| Jan 2009 | 2.29% |
| Jan 2013 | -0.62% |
| Jan 2016 | 0.69% |
| Jan 2020 | 0.08% |
| Jan 2021 | -1.08% |
| Aug 3, 2021 (record low) | -1.19% |
| Jan 2022 | -0.97% |
| Apr 29, 2022 (turned positive) | 0.01% |
| Jan 2023 | 1.53% |
| Oct 25, 2023 (2023 high) | 2.52% |
| Jan 2024 | 1.74% |
| Sep 2024 | 1.73% |
| Dec 2024 | 2.24% |
| Dec 2025 | 1.93% |
| Oct 5, 2026 (2026 high) | 2.95% |
| Oct 9, 2026 (latest) | 2.91% |



Source: [St. Louis Fed FRED: 10-Year TIPS Yield](https://fred.stlouisfed.org/series/DFII10). Last verified: October 2026, values from the Treasury daily real yield curve (10 YR).



## Frequently asked questions



What is a negative real yield and why would anyone accept it?

A negative real yield means you are guaranteed to lose purchasing power by holding the bond. For example, at -1% real yield, $100 in TIPS today becomes approximately $90 in real purchasing power after 10 years (even after inflation adjustment). Investors accepted negative real yields in 2020-2022 because: (1) Treasuries were one of few liquid, government-guaranteed instruments; (2) the alternative (cash, money market funds at 0%) was worse; (3) flight to safety during COVID created enormous demand; (4) Federal Reserve quantitative easing (purchasing $80-120B Treasuries/month) artificially suppressed yields.



How do TIPS compare to nominal Treasuries?

Nominal Treasuries pay a fixed dollar coupon; if inflation rises, real value of coupons erodes. TIPS adjust both principal and coupon for CPI, protecting against unexpected inflation. TIPS are superior when: actual inflation exceeds the breakeven inflation rate (the difference between nominal 10-year yield and 10-year TIPS yield). If the 10-year nominal yield is 4.5% and 10-year TIPS yield is 2.0%, the breakeven rate is 2.5% -- if actual inflation averages above 2.5% over 10 years, TIPS outperform; below 2.5%, nominal Treasuries outperform.



Should I hold TIPS in a taxable or tax-advantaged account?

TIPS are best held in tax-advantaged accounts (IRA, 401k, 403b). The reason: TIPS generate phantom income in taxable accounts -- you pay taxes annually on the inflation adjustment to principal even though you do not receive that cash until maturity or sale. This phantom income creates a negative cash flow in years of high inflation (you owe taxes on income you have not received yet). In a tax-advantaged account, this issue disappears: no annual tax on the inflation adjustment. TIPS ETFs (VTIP, SCHP, TIP) in taxable accounts face the same phantom income problem.







## Cite This Page



If you reference this table in your own work, use the following citation format and add the date you accessed it:



> Swoopr Editorial Team. (2026). *TIPS (Treasury Inflation-Protected Securities) Real Yield History*. Swoopr Investment. [https://www.getswoopr.com/tables/bonds/tips-real-yield-history/](https://www.getswoopr.com/tables/bonds/tips-real-yield-history/)



Check the figures against the primary sources listed under References before you rely on or republish them; the series they come from are revised.







## References



- [St. Louis Fed FRED: 10-Year TIPS Yield](https://fred.stlouisfed.org/series/DFII10)







[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/) produces independent investment education and research content.



Corrections: [corrections policy](https://www.getswoopr.com/legal/corrections-policy/). Standards: [editorial standards](https://www.getswoopr.com/legal/editorial-policy/).