GILG.L vs. ITPS.L
GILG.L (iShares Global Inflation Linked Government Bond UCITS ETF GBP Hedged (Dist)) and ITPS.L (iShares $ TIPS UCITS ETF USD (Acc)) are both Inflation-Protected Bonds funds from iShares - GILG.L tracks the Bloomberg Gbl Infl Linked TR Hdg GBP while ITPS.L tracks the Bloomberg Gbl Infl Linked US TIPS TR USD. Both are passively managed. Over the past 5 years, GILG.L returned -1.48%/yr vs 2.04%/yr for ITPS.L. At a 0.32 correlation, their price movements are largely independent. GILG.L charges 0.20%/yr vs 0.12%/yr for ITPS.L.
Performance
GILG.L vs. ITPS.L - Performance Comparison
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Returns By Period
In the year-to-date period, GILG.L achieves a 1.51% return, which is significantly higher than ITPS.L's 1.40% return.
GILG.L
- 1D
- 0.09%
- 1M
- 0.46%
- YTD
- 1.51%
- 6M
- 1.28%
- 1Y
- 4.17%
- 3Y*
- 2.43%
- 5Y*
- -1.48%
- 10Y*
- —
ITPS.L
- 1D
- 0.07%
- 1M
- 0.85%
- YTD
- 1.40%
- 6M
- 0.52%
- 1Y
- 5.75%
- 3Y*
- 1.16%
- 5Y*
- 2.04%
- 10Y*
- 3.38%
GILG.L vs. ITPS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GILG.L iShares Global Inflation Linked Government Bond UCITS ETF GBP Hedged (Dist) | 1.51% | 4.23% | -0.86% | 3.12% | -18.45% | 5.19% | 2.37% |
ITPS.L iShares $ TIPS UCITS ETF USD (Acc) | 1.40% | -0.29% | 3.57% | -2.08% | -2.35% | 7.75% | -2.00% |
Correlation
The correlation between GILG.L and ITPS.L is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2020 | 0.32 |
Over the past year, the correlation between GILG.L and ITPS.L has dropped to 0.01 - well below their long-term average of 0.32, suggesting their price drivers have been diverging.
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Return for Risk
GILG.L vs. ITPS.L — Risk / Return Rank
GILG.L
ITPS.L
GILG.L vs. ITPS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Inflation Linked Government Bond UCITS ETF GBP Hedged (Dist) (GILG.L) and iShares $ TIPS UCITS ETF USD (Acc) (ITPS.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| GILG.L | ITPS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.16 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 1.09 | +0.62 |
| Martin ratioReturn relative to average drawdown | 4.72 | 2.78 | +1.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GILG.L | ITPS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 0.91 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.19 | 0.23 | -0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.33 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.12 | 0.28 | -0.40 |
Drawdowns
GILG.L vs. ITPS.L - Drawdown Comparison
The maximum GILG.L drawdown since its inception was -24.23%, smaller than the maximum ITPS.L drawdown of -37.27%. Use the drawdown chart below to compare losses from any high point for GILG.L and ITPS.L.
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Drawdown Indicators
| GILG.L | ITPS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.23% | -37.27% | +13.04% |
Max Drawdown (1Y)Largest decline over 1 year | -2.43% | -5.26% | +2.83% |
Max Drawdown (3Y)Largest decline over 3 years | -5.52% | -7.85% | +2.33% |
Max Drawdown (5Y)Largest decline over 5 years | -24.23% | -15.72% | -8.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.72% | — |
Current DrawdownCurrent decline from peak | -13.44% | -7.94% | -5.50% |
Average DrawdownAverage peak-to-trough decline | -13.12% | -10.69% | -2.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 2.06% | -1.18% |
Volatility
GILG.L vs. ITPS.L - Volatility Comparison
The current volatility for iShares Global Inflation Linked Government Bond UCITS ETF GBP Hedged (Dist) (GILG.L) is 1.48%, while iShares $ TIPS UCITS ETF USD (Acc) (ITPS.L) has a volatility of 1.70%. This indicates that GILG.L experiences smaller price fluctuations and is considered to be less risky than ITPS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GILG.L | ITPS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.70% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 3.40% | 4.63% | -1.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.84% | 6.30% | -1.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.79% | 8.76% | -0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.54% | 10.34% | -2.80% |
GILG.L vs. ITPS.L - Expense Ratio Comparison
GILG.L has a 0.20% expense ratio, which is higher than ITPS.L's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GILG.L vs. ITPS.L - Dividend Comparison
GILG.L's dividend yield for the trailing twelve months is around 0.98%, while ITPS.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
GILG.L iShares Global Inflation Linked Government Bond UCITS ETF GBP Hedged (Dist) | 0.98% | 0.96% | 0.87% | 0.79% | 0.72% | 0.50% |
ITPS.L iShares $ TIPS UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GILG.L and ITPS.L have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ITPS.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ITPS.L is cheaper with a 0.12% expense ratio, compared with 0.20% for GILG.L.
GILG.L tracks Bloomberg Gbl Infl Linked TR Hdg GBP, while ITPS.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD. Their fees differ too: 0.20% for GILG.L and 0.12% for ITPS.L.
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