GILG.L vs. UTIP.L
GILG.L (iShares Global Inflation Linked Government Bond UCITS ETF GBP Hedged (Dist)) and UTIP.L (SPDR Bloomberg US TIPS UCITS ETF) are both Inflation-Protected Bonds funds - GILG.L tracks the Bloomberg Gbl Infl Linked TR Hdg GBP while UTIP.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 -2.60%/yr for UTIP.L. At a 0.31 correlation, their price movements are largely independent. GILG.L charges 0.20%/yr vs 0.17%/yr for UTIP.L.
Performance
GILG.L vs. UTIP.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 UTIP.L's -0.61% 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*
- —
UTIP.L
- 1D
- 0.00%
- 1M
- 0.96%
- YTD
- -0.61%
- 6M
- -1.42%
- 1Y
- 1.23%
- 3Y*
- -2.70%
- 5Y*
- -2.60%
- 10Y*
- 41.75%
GILG.L vs. UTIP.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% |
UTIP.L SPDR Bloomberg US TIPS UCITS ETF | -0.61% | -3.83% | -0.45% | -6.33% | -8.86% | 4.03% | -1.97% |
Correlation
The correlation between GILG.L and UTIP.L is -0.00, 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 | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2020 | 0.31 |
The correlation between GILG.L and UTIP.L shifts across timeframes, from -0.00 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GILG.L vs. UTIP.L — Risk / Return Rank
GILG.L
UTIP.L
GILG.L vs. UTIP.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 SPDR Bloomberg US TIPS UCITS ETF (UTIP.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 | UTIP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.04 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 0.19 | +1.52 |
| Martin ratioReturn relative to average drawdown | 4.72 | 0.38 | +4.34 |
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 | UTIP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 0.17 | +0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.19 | -0.28 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.35 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.12 | 0.35 | -0.47 |
Drawdowns
GILG.L vs. UTIP.L - Drawdown Comparison
The maximum GILG.L drawdown since its inception was -24.23%, roughly equal to the maximum UTIP.L drawdown of -23.72%. Use the drawdown chart below to compare losses from any high point for GILG.L and UTIP.L.
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Drawdown Indicators
| GILG.L | UTIP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.23% | -23.72% | -0.51% |
Max Drawdown (1Y)Largest decline over 1 year | -2.43% | -6.54% | +4.11% |
Max Drawdown (3Y)Largest decline over 3 years | -5.52% | -10.48% | +4.96% |
Max Drawdown (5Y)Largest decline over 5 years | -24.23% | -22.38% | -1.85% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.72% | — |
Current DrawdownCurrent decline from peak | -13.44% | -21.46% | +8.02% |
Average DrawdownAverage peak-to-trough decline | -13.12% | -9.04% | -4.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 3.27% | -2.39% |
Volatility
GILG.L vs. UTIP.L - Volatility Comparison
The current volatility for iShares Global Inflation Linked Government Bond UCITS ETF GBP Hedged (Dist) (GILG.L) is 1.48%, while SPDR Bloomberg US TIPS UCITS ETF (UTIP.L) has a volatility of 1.76%. This indicates that GILG.L experiences smaller price fluctuations and is considered to be less risky than UTIP.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 | UTIP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.76% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 3.40% | 4.86% | -1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.84% | 7.14% | -2.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.79% | 9.35% | -1.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.54% | 118.48% | -110.94% |
GILG.L vs. UTIP.L - Expense Ratio Comparison
GILG.L has a 0.20% expense ratio, which is higher than UTIP.L's 0.17% 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. UTIP.L - Dividend Comparison
GILG.L's dividend yield for the trailing twelve months is around 0.98%, while UTIP.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% |
UTIP.L SPDR Bloomberg US TIPS UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 69.04% | 31.90% | 67.27% | 43.97% |
Frequently Asked Questions
GILG.L and UTIP.L have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UTIP.L is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UTIP.L is cheaper with a 0.17% expense ratio, compared with 0.20% for GILG.L.
GILG.L tracks Bloomberg Gbl Infl Linked TR Hdg GBP, while UTIP.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for GILG.L and 0.17% for UTIP.L.
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