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ITPA.L vs. UBTL.L
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ITPA.L vs. UBTL.L

Last updated Apr 1, 2026

Compare and contrast key facts about iShares $ TIPS UCITS ETF GBP (Acc) (ITPA.L) and UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis (UBTL.L).

ITPA.L and UBTL.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ITPA.L is a passively managed fund by iShares that tracks the performance of the BBG US Government Inflation-Linked Bond Index (USD). It was launched on Dec 8, 2006. UBTL.L is a passively managed fund by UBS that tracks the performance of the Bloomberg Gbl Infl Linked US TIPS TR USD. It was launched on Sep 30, 2016. Both ITPA.L and UBTL.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ITPA.L vs. UBTL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares $ TIPS UCITS ETF GBP (Acc) (ITPA.L) and UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis (UBTL.L). The values are adjusted to include any dividend payments, if applicable.

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ITPA.L vs. UBTL.L - Yearly Performance Comparison

2026 (YTD)20252024
ITPA.L
iShares $ TIPS UCITS ETF GBP (Acc)		0.11%6.54%1.72%
UBTL.L
UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis		-0.52%-2.86%-2.12%
Different Trading Currencies

ITPA.L is traded in GBP, while UBTL.L is traded in GBp. To make them comparable, the UBTL.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, ITPA.L achieves a 0.11% return, which is significantly higher than UBTL.L's -0.52% return.

ITPA.L

1D
-0.07%
1M
-1.05%
YTD
0.11%
6M
0.21%
1Y
2.35%
3Y*
—
5Y*
—
10Y*
—

UBTL.L

1D
-0.31%
1M
-3.09%
YTD
-0.52%
6M
-0.93%
1Y
-5.77%
3Y*
-4.72%
5Y*
-4.07%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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iShares $ TIPS UCITS ETF GBP (Acc)

UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis

Often compared with ITPA.L:
ITPA.L vs. GILG.LITPA.L vs. TIPA.LITPA.L vs. SGIL.LITPA.L vs. TIPG.LITPA.L vs. GILI.LITPA.L vs. XGIU.LITPA.L vs. IGIL.L
Often compared with UBTL.L:
UBTL.L vs. AIAG.LUBTL.L vs. EUFM.LUBTL.L vs. UC63.LUBTL.L vs. GILI.LUBTL.L vs. ITPS.LUBTL.L vs. UC44.LUBTL.L vs. IDTP.L

ITPA.L vs. UBTL.L - Expense Ratio Comparison

ITPA.L has a 0.12% expense ratio, which is lower than UBTL.L's 0.20% 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%.

UBTL.L
UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis
ITPA.L
iShares $ TIPS UCITS ETF GBP (Acc)

Return for Risk

ITPA.L vs. UBTL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ITPA.L
ITPA.L Risk / Return Rank: 2525
Overall Rank
ITPA.L Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
ITPA.L Sortino Ratio Rank: 2424
Sortino Ratio Rank
ITPA.L Omega Ratio Rank: 2525
Omega Ratio Rank
ITPA.L Calmar Ratio Rank: 2525
Calmar Ratio Rank
ITPA.L Martin Ratio Rank: 2727
Martin Ratio Rank
UBTL.L
UBTL.L Risk / Return Rank: 55
Overall Rank
UBTL.L Sharpe Ratio Rank: 55
Sharpe Ratio Rank
UBTL.L Sortino Ratio Rank: 55
Sortino Ratio Rank
UBTL.L Omega Ratio Rank: 44
Omega Ratio Rank
UBTL.L Calmar Ratio Rank: 66
Calmar Ratio Rank
UBTL.L Martin Ratio Rank: 77
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ITPA.L vs. UBTL.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 UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis (UBTL.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.

ITPA.LUBTL.LDifference

Sharpe ratio

Return per unit of total volatility

0.51

-0.43

+0.94

Sortino ratio

Return per unit of downside risk

0.72

-0.49

+1.21

Omega ratio

Gain probability vs. loss probability

1.11

0.93

+0.17

Calmar ratio

Return relative to maximum drawdown

0.58

-0.40

+0.98

Martin ratio

Return relative to average drawdown

2.15

-0.67

+2.82

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ITPA.L vs. UBTL.L - Sharpe Ratio Comparison

The current ITPA.L Sharpe Ratio is 0.51, which is higher than the UBTL.L Sharpe Ratio of -0.43. The chart below compares the historical Sharpe Ratios of ITPA.L and UBTL.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

ITPA.LUBTL.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.51

-0.43

+0.94

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

-0.27

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.82

-0.01

+0.83

Correlation

The correlation between ITPA.L and UBTL.L is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ITPA.L vs. UBTL.L - Dividend Comparison

ITPA.L has not paid dividends to shareholders, while UBTL.L's dividend yield for the trailing twelve months is around 6.18%.

TTM202520242023202220212020201920182017
ITPA.L
iShares $ TIPS UCITS ETF GBP (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
UBTL.L
UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis		6.18%5.34%5.57%6.49%8.27%2.56%0.73%2.60%2.29%1.99%

Drawdowns

ITPA.L vs. UBTL.L - Drawdown Comparison

The maximum ITPA.L drawdown since its inception was -4.08%, smaller than the maximum UBTL.L drawdown of -38.66%. Use the drawdown chart below to compare losses from any high point for ITPA.L and UBTL.L.

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Drawdown Indicators

ITPA.LUBTL.LDifference

Max Drawdown

Largest peak-to-trough decline

-4.08%

-38.66%

+34.58%

Max Drawdown (1Y)

Largest decline over 1 year

-4.08%

-12.16%

+8.08%

Max Drawdown (5Y)

Largest decline over 5 years

—

-38.66%

—

Current Drawdown

Current decline from peak

-1.36%

-34.72%

+33.36%

Average Drawdown

Average peak-to-trough decline

-1.04%

-16.46%

+15.42%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.09%

7.30%

-6.21%

Volatility

ITPA.L vs. UBTL.L - Volatility Comparison

The current volatility for iShares $ TIPS UCITS ETF GBP (Acc) (ITPA.L) is 1.34%, while UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis (UBTL.L) has a volatility of 3.11%. This indicates that ITPA.L experiences smaller price fluctuations and is considered to be less risky than UBTL.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.LUBTL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.34%

3.11%

-1.77%

Volatility (6M)

Calculated over the trailing 6-month period

2.33%

6.49%

-4.16%

Volatility (1Y)

Calculated over the trailing 1-year period

5.13%

13.35%

-8.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.03%

15.30%

-10.27%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.03%

15.45%

-10.42%