I'd like to better understand the downside risks of investing in a TIPS fund. What are the factors that would cause the fund to decrease in value? Is it just when the expectations of future yield increases on bonds is higher than the expected inflation adjustment (given that bond yields are not simply determined by inflationary expectations, and noting that the TIPS inflation adjustment does not correspond to the what some would consider actual inflation)? Is this correct? Are there any other factors that should be taken into account?