IBTU.L vs. TP05.L
IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) and TP05.L (iShares USD TIPS 0-5 UCITS ETF USD (Dist)) are both exchange-traded funds - IBTU.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index, while TP05.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, IBTU.L returned 3.38%/yr vs -0.84%/yr for TP05.L. At a 0.06 correlation, their price movements are largely independent. IBTU.L charges 0.07%/yr vs 0.10%/yr for TP05.L.
Performance
IBTU.L vs. TP05.L - Performance Comparison
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Different Trading Currencies
IBTU.L is traded in USD, while TP05.L is traded in GBp. To make them comparable, the TP05.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBTU.L achieves a 1.39% return, which is significantly higher than TP05.L's -0.63% return.
IBTU.L
- 1D
- 0.01%
- 1M
- 0.30%
- YTD
- 1.39%
- 6M
- 1.78%
- 1Y
- 3.98%
- 3Y*
- 4.74%
- 5Y*
- 3.38%
- 10Y*
- —
TP05.L
- 1D
- 0.00%
- 1M
- -2.51%
- YTD
- -0.63%
- 6M
- -0.53%
- 1Y
- -1.21%
- 3Y*
- -1.46%
- 5Y*
- -0.84%
- 10Y*
- —
IBTU.L vs. TP05.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 1.39% | 4.36% | 5.23% | 4.96% | 1.09% | -0.01% | 0.96% | 1.94% |
TP05.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | -0.63% | 0.18% | -2.10% | -1.26% | -3.19% | 5.39% | 1.36% | 1.00% |
Correlation
The correlation between IBTU.L and TP05.L is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2019 | 0.06 |
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Return for Risk
IBTU.L vs. TP05.L — Risk / Return Rank
IBTU.L
TP05.L
IBTU.L vs. TP05.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) and iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TP05.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.
| IBTU.L | TP05.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.33 | ||
| Sortino ratioReturn per unit of downside risk | +17.47 | ||
| Omega ratioGain probability vs. loss probability | 3.95 | 0.97 | +2.99 |
| Calmar ratioReturn relative to maximum drawdown | 24.79 | -0.27 | +25.06 |
| Martin ratioReturn relative to average drawdown | 183.92 | -0.58 | +184.50 |
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
| IBTU.L | TP05.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 8.12 | -0.21 | +8.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 6.79 | -0.14 | +6.93 |
Sharpe Ratio (All Time)Calculated using the full available price history | 5.05 | -0.02 | +5.08 |
Drawdowns
IBTU.L vs. TP05.L - Drawdown Comparison
The maximum IBTU.L drawdown since its inception was -0.62%, smaller than the maximum TP05.L drawdown of -8.24%. Use the drawdown chart below to compare losses from any high point for IBTU.L and TP05.L.
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Drawdown Indicators
| IBTU.L | TP05.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.62% | -8.24% | +7.62% |
Max Drawdown (1Y)Largest decline over 1 year | -0.16% | -4.47% | +4.31% |
Max Drawdown (3Y)Largest decline over 3 years | -0.16% | -5.92% | +5.76% |
Max Drawdown (5Y)Largest decline over 5 years | -0.29% | -8.24% | +7.95% |
Current DrawdownCurrent decline from peak | 0.00% | -7.74% | +7.74% |
Average DrawdownAverage peak-to-trough decline | -0.03% | -2.97% | +2.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 2.09% | -2.07% |
Volatility
IBTU.L vs. TP05.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) is 0.08%, while iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TP05.L) has a volatility of 2.81%. This indicates that IBTU.L experiences smaller price fluctuations and is considered to be less risky than TP05.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTU.L | TP05.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.08% | 2.81% | -2.73% |
Volatility (6M)Calculated over the trailing 6-month period | 0.31% | 4.23% | -3.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.49% | 5.90% | -5.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.50% | 6.25% | -5.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.54% | 6.16% | -5.62% |
IBTU.L vs. TP05.L - Expense Ratio Comparison
IBTU.L has a 0.07% expense ratio, which is lower than TP05.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
IBTU.L vs. TP05.L - Dividend Comparison
IBTU.L's dividend yield for the trailing twelve months is around 4.07%, more than TP05.L's 0.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.07% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% | 0.00% | 0.00% |
TP05.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | 0.06% | 0.06% | 0.07% | 0.05% | 0.00% | 0.00% | 0.03% | 0.03% | 0.03% | 0.01% |
Frequently Asked Questions
IBTU.L and TP05.L have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTU.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTU.L is cheaper with a 0.07% expense ratio, compared with 0.10% for TP05.L.
IBTU.L is categorized as Government Bonds, while TP05.L is Inflation-Protected Bonds. IBTU.L tracks ICE U.S. Treasury Short Bond Index, while TP05.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD. Their fees differ too: 0.07% for IBTU.L and 0.10% for TP05.L.
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