IBCI.L vs. TIP5.L
IBCI.L (iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc)) and TIP5.L (iShares USD TIPS 0-5 UCITS ETF USD (Dist)) are both Inflation-Protected Bonds funds from iShares - IBCI.L tracks the BBG Euro Government Inflation-Linked Bond Index (EUR) while TIP5.L tracks the ICE U.S. Treasury Inflation Linked Bond Index 0-5. Both are passively managed. Over the past 5 years, IBCI.L returned 0.31%/yr vs 3.36%/yr for TIP5.L. At a 0.34 correlation, their price movements are largely independent. IBCI.L charges 0.09%/yr vs 0.10%/yr for TIP5.L.
Performance
IBCI.L vs. TIP5.L - Performance Comparison
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Different Trading Currencies
IBCI.L is traded in GBP, while TIP5.L is traded in USD. To make them comparable, the TIP5.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBCI.L achieves a -0.01% return, which is significantly lower than TIP5.L's 1.36% return.
IBCI.L
- 1D
- 0.32%
- 1M
- -2.22%
- 6M
- -0.13%
- YTD
- -0.01%
- 1Y
- 1.23%
- 3Y*
- 1.51%
- 5Y*
- 0.31%
- 10Y*
- 1.54%
TIP5.L
- 1D
- 0.37%
- 1M
- -1.03%
- 6M
- 0.83%
- YTD
- 1.36%
- 1Y
- 2.63%
- 3Y*
- 3.58%
- 5Y*
- 3.36%
- 10Y*
- —
IBCI.L vs. TIP5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBCI.L iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) | -0.01% | 6.03% | -4.55% | 3.48% | -4.33% | -0.79% | 8.45% | 1.18% | -1.05% | 10.38% |
TIP5.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | 1.36% | -1.25% | 5.76% | -1.01% | 8.80% | 6.40% | 1.90% | 0.83% | 6.68% | -5.19% |
Correlation
The correlation between IBCI.L and TIP5.L is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2017 | 0.34 |
Over the past year, the correlation between IBCI.L and TIP5.L has dropped to 0.12 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.
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Return for Risk
IBCI.L vs. TIP5.L — Risk / Return Rank
IBCI.L
TIP5.L
IBCI.L vs. TIP5.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) (IBCI.L) and iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TIP5.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IBCI.L | TIP5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.07 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.37 | 0.47 | -0.11 |
| Martin ratioReturn relative to average drawdown | 0.80 | 1.30 | -0.51 |
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Drawdowns
IBCI.L vs. TIP5.L - Drawdown Comparison
The maximum IBCI.L drawdown since its inception was -30.47%, which is greater than TIP5.L's maximum drawdown of -16.59%. Use the drawdown chart below to compare losses from any high point for IBCI.L and TIP5.L.
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Drawdown Indicators
| IBCI.L | TIP5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.47% | -16.59% | -13.88% |
Max Drawdown (1Y)Largest decline over 1 year | -3.33% | -5.52% | +2.19% |
Max Drawdown (3Y)Largest decline over 3 years | -14.28% | -8.92% | -5.36% |
Max Drawdown (5Y)Largest decline over 5 years | -14.28% | -16.59% | +2.31% |
Max Drawdown (10Y)Largest decline over 10 years | -14.53% | — | — |
Current DrawdownCurrent decline from peak | -8.52% | -6.66% | -1.86% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -6.64% | -4.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 2.01% | -0.47% |
Volatility
IBCI.L vs. TIP5.L - Volatility Comparison
The current volatility for iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) (IBCI.L) is 1.41%, while iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TIP5.L) has a volatility of 1.59%. This indicates that IBCI.L experiences smaller price fluctuations and is considered to be less risky than TIP5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBCI.L | TIP5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 1.59% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 3.72% | 6.00% | -2.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.90% | 7.36% | -2.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.49% | 8.81% | +2.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.76% | 8.94% | +2.82% |
IBCI.L vs. TIP5.L - Expense Ratio Comparison
IBCI.L has a 0.09% expense ratio, which is lower than TIP5.L's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBCI.L vs. TIP5.L - Dividend Comparison
IBCI.L has not paid dividends to shareholders, while TIP5.L's dividend yield for the trailing twelve months is around 5.13%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IBCI.L iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TIP5.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | 5.13% | 5.94% | 6.18% | 5.15% | 0.29% | 0.37% | 3.00% | 3.27% | 2.99% | 1.03% |
Frequently Asked Questions
IBCI.L and TIP5.L have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBCI.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBCI.L is cheaper with a 0.09% expense ratio, compared with 0.10% for TIP5.L.
IBCI.L tracks BBG Euro Government Inflation-Linked Bond Index (EUR), while TIP5.L tracks ICE U.S. Treasury Inflation Linked Bond Index 0-5. Their fees differ too: 0.09% for IBCI.L and 0.10% for TIP5.L.
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