INXG.L vs. TP05.L
INXG.L (iShares £ Index-Linked Gilts UCITS ETF) and TP05.L (iShares USD TIPS 0-5 UCITS ETF USD (Dist)) are both exchange-traded funds - INXG.L is a Government Bonds fund tracking the Bloomberg UK Government Inflation-Linked 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, INXG.L returned -8.26%/yr vs 0.21%/yr for TP05.L. At a 0.12 correlation, their price movements are largely independent. Both charge a 0.10% expense ratio.
Performance
INXG.L vs. TP05.L - Performance Comparison
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Different Trading Currencies
INXG.L is traded in GBP, while TP05.L is traded in GBp. To make them comparable, the TP05.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, INXG.L achieves a 0.04% return, which is significantly higher than TP05.L's -0.38% return.
INXG.L
- 1D
- 0.44%
- 1M
- 0.13%
- YTD
- 0.04%
- 6M
- -0.13%
- 1Y
- 3.36%
- 3Y*
- -0.63%
- 5Y*
- -8.26%
- 10Y*
- -1.18%
TP05.L
- 1D
- -0.05%
- 1M
- -1.67%
- YTD
- -0.38%
- 6M
- -1.26%
- 1Y
- -0.27%
- 3Y*
- -3.94%
- 5Y*
- 0.21%
- 10Y*
- —
INXG.L vs. TP05.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INXG.L iShares £ Index-Linked Gilts UCITS ETF | 0.04% | 1.10% | -8.66% | 0.16% | -34.27% | 4.08% | 11.08% | 6.27% | -0.49% | -1.89% |
TP05.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | -0.38% | -6.85% | -0.44% | -6.21% | 8.40% | 6.35% | -1.65% | -1.59% | 3.26% | -4.52% |
Correlation
The correlation between INXG.L and TP05.L is -0.24, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since May 24, 2017 | 0.13 |
The correlation between INXG.L and TP05.L shifts across timeframes, from -0.24 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
INXG.L vs. TP05.L — Risk / Return Rank
INXG.L
TP05.L
INXG.L vs. TP05.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares £ Index-Linked Gilts UCITS ETF (INXG.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.
| INXG.L | TP05.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.00 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | -0.03 | +0.53 |
| Martin ratioReturn relative to average drawdown | 1.08 | -0.07 | +1.15 |
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
| INXG.L | TP05.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.33 | -0.03 | +0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.41 | 0.02 | -0.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.07 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.71 | -0.06 | -0.65 |
Drawdowns
INXG.L vs. TP05.L - Drawdown Comparison
The maximum INXG.L drawdown since its inception was -99.05%, which is greater than TP05.L's maximum drawdown of -23.61%. Use the drawdown chart below to compare losses from any high point for INXG.L and TP05.L.
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Drawdown Indicators
| INXG.L | TP05.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.05% | -23.61% | -75.44% |
Max Drawdown (1Y)Largest decline over 1 year | -6.62% | -7.76% | +1.14% |
Max Drawdown (3Y)Largest decline over 3 years | -15.04% | -15.39% | +0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -50.87% | -23.61% | -27.26% |
Max Drawdown (10Y)Largest decline over 10 years | -50.87% | — | — |
Current DrawdownCurrent decline from peak | -98.31% | -22.31% | -76.00% |
Average DrawdownAverage peak-to-trough decline | -97.27% | -10.24% | -87.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 3.88% | -0.82% |
Volatility
INXG.L vs. TP05.L - Volatility Comparison
iShares £ Index-Linked Gilts UCITS ETF (INXG.L) has a higher volatility of 3.49% compared to iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TP05.L) at 3.02%. This indicates that INXG.L's price experiences larger fluctuations and is considered to be riskier 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
| INXG.L | TP05.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.49% | 3.02% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 7.26% | 5.23% | +2.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.89% | 7.68% | +2.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.07% | 8.80% | +11.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.47% | 8.99% | +8.48% |
INXG.L vs. TP05.L - Expense Ratio Comparison
Both INXG.L and TP05.L have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
INXG.L vs. TP05.L - Dividend Comparison
INXG.L's dividend yield for the trailing twelve months is around 7.56%, more than TP05.L's 0.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INXG.L iShares £ Index-Linked Gilts UCITS ETF | 7.56% | 7.23% | 5.77% | 0.43% | 0.00% | 0.00% | 0.61% | 1.36% | 1.95% | 1.28% | 0.65% | 1.94% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
INXG.L and TP05.L have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
INXG.L and TP05.L have the same expense ratio: 0.10% per year.
INXG.L is categorized as Government Bonds, while TP05.L is Inflation-Protected Bonds. INXG.L tracks Bloomberg UK Government Inflation-Linked Bond Index, while TP05.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD.
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