ITPG.L vs. HLQD.L
ITPG.L (iShares $ TIPS UCITS ETF) and HLQD.L (iShares $ Corp Bond Interest Rate Hedged UCITS ETF) are both Global Bonds funds from iShares - ITPG.L tracks the iShares $ TIPS UCITS ETF while HLQD.L tracks the iShares $ Corp Bond Interest Rate Hedged UCITS ETF. Both are passively managed. Over the past 5 years, ITPG.L returned -0.14%/yr vs 5.74%/yr for HLQD.L. At a correlation of -0.17, they often move in opposite directions. ITPG.L charges 0.12%/yr vs 0.25%/yr for HLQD.L.
Performance
ITPG.L vs. HLQD.L - Performance Comparison
Loading charts...
Different Trading Currencies
ITPG.L is traded in GBP, while HLQD.L is traded in USD. To make them comparable, the HLQD.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, ITPG.L achieves a 0.91% return, which is significantly lower than HLQD.L's 1.68% return.
ITPG.L
- 1D
- -0.05%
- 1M
- -0.47%
- 6M
- 0.29%
- YTD
- 0.91%
- 1Y
- 3.55%
- 3Y*
- 3.38%
- 5Y*
- -0.14%
- 10Y*
- —
HLQD.L
- 1D
- 0.00%
- 1M
- -1.15%
- 6M
- 1.34%
- YTD
- 1.68%
- 1Y
- 3.78%
- 3Y*
- 6.21%
- 5Y*
- 5.74%
- 10Y*
- —
ITPG.L vs. HLQD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ITPG.L iShares $ TIPS UCITS ETF | 0.91% | 6.20% | 1.89% | 2.58% | -13.77% | 6.17% | 10.05% | 6.89% | -2.50% |
HLQD.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF | 1.68% | -2.05% | 10.04% | 5.59% | 12.35% | 2.21% | -2.41% | 6.56% | 2.78% |
Correlation
The correlation between ITPG.L and HLQD.L is -0.08, 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 | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.22 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018 | -0.17 |
The correlation between ITPG.L and HLQD.L shifts across timeframes, from -0.22 (5 years) to -0.08 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ITPG.L vs. HLQD.L — Risk / Return Rank
ITPG.L
HLQD.L
ITPG.L vs. HLQD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ TIPS UCITS ETF (ITPG.L) and iShares $ Corp Bond Interest Rate Hedged UCITS ETF (HLQD.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.
| ITPG.L | HLQD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.10 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 0.91 | +1.00 |
| Martin ratioReturn relative to average drawdown | 4.63 | 2.48 | +2.15 |
Loading charts...
Drawdowns
ITPG.L vs. HLQD.L - Drawdown Comparison
The maximum ITPG.L drawdown since its inception was -16.78%, which is greater than HLQD.L's maximum drawdown of -15.87%. Use the drawdown chart below to compare losses from any high point for ITPG.L and HLQD.L.
Loading charts...
Drawdown Indicators
| ITPG.L | HLQD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.78% | -15.87% | -0.91% |
Max Drawdown (1Y)Largest decline over 1 year | -1.85% | -4.24% | +2.39% |
Max Drawdown (3Y)Largest decline over 3 years | -4.74% | -9.92% | +5.18% |
Max Drawdown (5Y)Largest decline over 5 years | -16.78% | -11.10% | -5.68% |
Current DrawdownCurrent decline from peak | -3.88% | -3.28% | -0.60% |
Average DrawdownAverage peak-to-trough decline | -5.44% | -4.62% | -0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 1.56% | -0.80% |
Volatility
ITPG.L vs. HLQD.L - Volatility Comparison
The current volatility for iShares $ TIPS UCITS ETF (ITPG.L) is 1.00%, while iShares $ Corp Bond Interest Rate Hedged UCITS ETF (HLQD.L) has a volatility of 1.93%. This indicates that ITPG.L experiences smaller price fluctuations and is considered to be less risky than HLQD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ITPG.L | HLQD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 1.93% | -0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 2.84% | 5.24% | -2.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.40% | 6.96% | -2.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 8.75% | -2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.36% | 9.48% | -3.12% |
ITPG.L vs. HLQD.L - Expense Ratio Comparison
ITPG.L has a 0.12% expense ratio, which is lower than HLQD.L's 0.25% 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
ITPG.L vs. HLQD.L - Dividend Comparison
ITPG.L's dividend yield for the trailing twelve months is around 4.66%, while HLQD.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HLQD.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ITPG.L iShares $ TIPS UCITS ETF | 4.66% | 4.56% | 4.62% | 1.50% | 1.24% | 1.09% | 2.03% | 2.79% | 1.92% |
Frequently Asked Questions
ITPG.L and HLQD.L have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ITPG.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ITPG.L is cheaper with a 0.12% expense ratio, compared with 0.25% for HLQD.L.
ITPG.L tracks iShares $ TIPS UCITS ETF, while HLQD.L tracks iShares $ Corp Bond Interest Rate Hedged UCITS ETF. Their fees differ too: 0.12% for ITPG.L and 0.25% for HLQD.L.
Find the right allocation for ITPG.L and HLQD.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer