IBTL.L vs. UBTS.L
IBTL.L (iShares USD Treasury Bond 20+yr UCITS ETF (Dist)) and UBTS.L (UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis) are both exchange-traded funds - IBTL.L is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while UBTS.L is a Inflation-Protected Bonds fund tracking the Bloomberg Gbl Infl Linked US TIPS TR USD. Both are passively managed. Over the past 5 years, IBTL.L returned -5.44%/yr vs 3.21%/yr for UBTS.L. A 0.61 correlation means they provide meaningful diversification when combined. IBTL.L charges 0.07%/yr vs 0.15%/yr for UBTS.L.
Performance
IBTL.L vs. UBTS.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBTL.L achieves a -0.34% return, which is significantly lower than UBTS.L's 1.63% return.
IBTL.L
- 1D
- -0.17%
- 1M
- 1.43%
- YTD
- -0.34%
- 6M
- 0.20%
- 1Y
- 5.42%
- 3Y*
- -3.32%
- 5Y*
- -5.44%
- 10Y*
- -1.26%
UBTS.L
- 1D
- -0.54%
- 1M
- -0.11%
- YTD
- 1.63%
- 6M
- 1.00%
- 1Y
- 6.12%
- 3Y*
- 2.62%
- 5Y*
- 3.21%
- 10Y*
- —
IBTL.L vs. UBTS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBTL.L iShares USD Treasury Bond 20+yr UCITS ETF (Dist) | -0.34% | -2.80% | -5.51% | -3.61% | -22.17% | -3.32% | 13.06% | 12.05% | 3.88% | -0.83% |
UBTS.L UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis | 1.63% | -0.11% | 4.94% | -1.60% | 3.40% | 6.97% | 4.62% | 3.52% | 5.25% | -7.29% |
Correlation
The correlation between IBTL.L and UBTS.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2016 | 0.61 |
The correlation between IBTL.L and UBTS.L shifts across timeframes, from 0.49 (1 year) to 0.61 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBTL.L vs. UBTS.L — Risk / Return Rank
IBTL.L
UBTS.L
IBTL.L vs. UBTS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IBTL.L) and UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis (UBTS.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.
| IBTL.L | UBTS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.16 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.58 | 1.18 | -0.60 |
| Martin ratioReturn relative to average drawdown | 1.23 | 3.14 | -1.91 |
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Drawdowns
IBTL.L vs. UBTS.L - Drawdown Comparison
The maximum IBTL.L drawdown since its inception was -48.85%, which is greater than UBTS.L's maximum drawdown of -30.43%. Use the drawdown chart below to compare losses from any high point for IBTL.L and UBTS.L.
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Drawdown Indicators
| IBTL.L | UBTS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.85% | -30.43% | -18.42% |
Max Drawdown (1Y)Largest decline over 1 year | -8.26% | -4.97% | -3.29% |
Max Drawdown (3Y)Largest decline over 3 years | -17.10% | -7.52% | -9.58% |
Max Drawdown (5Y)Largest decline over 5 years | -39.34% | -16.00% | -23.34% |
Max Drawdown (10Y)Largest decline over 10 years | -48.85% | — | — |
Current DrawdownCurrent decline from peak | -45.09% | -5.92% | -39.17% |
Average DrawdownAverage peak-to-trough decline | -22.69% | -14.03% | -8.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.91% | 1.88% | +2.03% |
Volatility
IBTL.L vs. UBTS.L - Volatility Comparison
iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IBTL.L) has a higher volatility of 2.35% compared to UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis (UBTS.L) at 1.63%. This indicates that IBTL.L's price experiences larger fluctuations and is considered to be riskier than UBTS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTL.L | UBTS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.35% | 1.63% | +0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 6.40% | 4.57% | +1.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.51% | 6.31% | +3.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.47% | 8.16% | +7.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.31% | 10.65% | +5.66% |
IBTL.L vs. UBTS.L - Expense Ratio Comparison
IBTL.L has a 0.07% expense ratio, which is lower than UBTS.L's 0.15% 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
IBTL.L vs. UBTS.L - Dividend Comparison
IBTL.L's dividend yield for the trailing twelve months is around 2.27%, less than UBTS.L's 4.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTL.L iShares USD Treasury Bond 20+yr UCITS ETF (Dist) | 2.27% | 4.31% | 4.58% | 3.79% | 2.96% | 1.72% | 1.86% | 2.54% | 2.75% | 2.68% | 2.45% | 2.09% |
UBTS.L UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis | 4.02% | 3.26% | 4.41% | 4.56% | 6.66% | 2.83% | 0.84% | 2.30% | 2.38% | 1.27% | 0.00% | 0.00% |
Frequently Asked Questions
IBTL.L and UBTS.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTL.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTL.L is cheaper with a 0.07% expense ratio, compared with 0.15% for UBTS.L.
IBTL.L is categorized as Government Bonds, while UBTS.L is Inflation-Protected Bonds. IBTL.L tracks ICE U.S. Treasury 20+ Year Bond Index, while UBTS.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD. They also come from different issuers: iShares and UBS. Their fees differ too: 0.07% for IBTL.L and 0.15% for UBTS.L.
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