ITPA.L vs. IBCI.L
ITPA.L (iShares $ TIPS UCITS ETF GBP (Acc)) and IBCI.L (iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc)) are both Inflation-Protected Bonds funds from iShares - ITPA.L tracks the BBG US Government Inflation-Linked Bond Index (USD) while IBCI.L tracks the BBG Euro Government Inflation-Linked Bond Index (EUR). Both are passively managed. Over the past year, ITPA.L returned 2.86% vs 1.23% for IBCI.L. At a 0.40 correlation, their price movements are largely independent. ITPA.L charges 0.12%/yr vs 0.09%/yr for IBCI.L.
Performance
ITPA.L vs. IBCI.L - Performance Comparison
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Returns By Period
In the year-to-date period, ITPA.L achieves a 0.55% return, which is significantly higher than IBCI.L's -0.01% return.
ITPA.L
- 1D
- 0.00%
- 1M
- -0.71%
- 6M
- 0.61%
- YTD
- 0.55%
- 1Y
- 2.86%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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%
ITPA.L vs. IBCI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ITPA.L iShares $ TIPS UCITS ETF GBP (Acc) | 0.55% | 6.54% | 1.72% |
IBCI.L iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) | -0.01% | 6.03% | -2.75% |
Correlation
The correlation between ITPA.L and IBCI.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2024 | 0.40 |
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Return for Risk
ITPA.L vs. IBCI.L — Risk / Return Rank
ITPA.L
IBCI.L
ITPA.L vs. IBCI.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ TIPS UCITS ETF GBP (Acc) (ITPA.L) and iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) (IBCI.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.
| ITPA.L | IBCI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.04 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | 0.37 | +1.16 |
| Martin ratioReturn relative to average drawdown | 4.16 | 0.80 | +3.36 |
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Drawdowns
ITPA.L vs. IBCI.L - Drawdown Comparison
The maximum ITPA.L drawdown since its inception was -4.08%, smaller than the maximum IBCI.L drawdown of -30.47%. Use the drawdown chart below to compare losses from any high point for ITPA.L and IBCI.L.
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Drawdown Indicators
| ITPA.L | IBCI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.08% | -30.47% | +26.39% |
Max Drawdown (1Y)Largest decline over 1 year | -1.86% | -3.33% | +1.47% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.28% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.28% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.53% | — |
Current DrawdownCurrent decline from peak | -1.10% | -8.52% | +7.42% |
Average DrawdownAverage peak-to-trough decline | -0.99% | -10.76% | +9.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 1.54% | -0.85% |
Volatility
ITPA.L vs. IBCI.L - Volatility Comparison
The current volatility for iShares $ TIPS UCITS ETF GBP (Acc) (ITPA.L) is 0.77%, while iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) (IBCI.L) has a volatility of 1.41%. This indicates that ITPA.L experiences smaller price fluctuations and is considered to be less risky than IBCI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ITPA.L | IBCI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 1.41% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 3.72% | -1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.55% | 4.90% | -1.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.86% | 11.49% | -6.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.86% | 11.76% | -6.90% |
ITPA.L vs. IBCI.L - Expense Ratio Comparison
ITPA.L has a 0.12% expense ratio, which is higher than IBCI.L's 0.09% 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
ITPA.L vs. IBCI.L - Dividend Comparison
Neither ITPA.L nor IBCI.L has paid dividends to shareholders.
Frequently Asked Questions
ITPA.L and IBCI.L have a correlation of 0.41, 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 0.12% for ITPA.L.
ITPA.L tracks BBG US Government Inflation-Linked Bond Index (USD), while IBCI.L tracks BBG Euro Government Inflation-Linked Bond Index (EUR). Their fees differ too: 0.12% for ITPA.L and 0.09% for IBCI.L.
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