ITPG.L vs. IBCI.L
ITPG.L (iShares $ TIPS UCITS ETF GBP Hedged (Dist)) and IBCI.L (iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc)) are both Inflation-Protected Bonds funds from iShares - ITPG.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 5 years, ITPG.L returned -0.13%/yr vs 0.31%/yr for IBCI.L. At a 0.35 correlation, their price movements are largely independent. ITPG.L charges 0.12%/yr vs 0.09%/yr for IBCI.L.
Performance
ITPG.L vs. IBCI.L - Performance Comparison
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Returns By Period
In the year-to-date period, ITPG.L achieves a 0.96% return, which is significantly higher than IBCI.L's -0.01% return.
ITPG.L
- 1D
- 0.00%
- 1M
- -0.42%
- 6M
- 0.75%
- YTD
- 0.96%
- 1Y
- 2.96%
- 3Y*
- 3.32%
- 5Y*
- -0.13%
- 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%
ITPG.L vs. IBCI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ITPG.L iShares $ TIPS UCITS ETF GBP Hedged (Dist) | 0.96% | 6.20% | 1.89% | 2.58% | -13.77% | 6.17% | 10.05% | 6.89% | -1.16% |
IBCI.L iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) | -0.01% | 6.03% | -4.55% | 3.48% | -4.33% | -0.79% | 8.45% | 1.18% | -1.11% |
Correlation
The correlation between ITPG.L and IBCI.L is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2018 | 0.35 |
The correlation between ITPG.L and IBCI.L shifts across timeframes, from 0.34 (1 year) to 0.44 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ITPG.L vs. IBCI.L — Risk / Return Rank
ITPG.L
IBCI.L
ITPG.L vs. IBCI.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ TIPS UCITS ETF GBP Hedged (Dist) (ITPG.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.
| ITPG.L | IBCI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.04 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 0.37 | +1.23 |
| Martin ratioReturn relative to average drawdown | 3.86 | 0.80 | +3.06 |
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Drawdowns
ITPG.L vs. IBCI.L - Drawdown Comparison
The maximum ITPG.L drawdown since its inception was -16.78%, smaller than the maximum IBCI.L drawdown of -30.47%. Use the drawdown chart below to compare losses from any high point for ITPG.L and IBCI.L.
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Drawdown Indicators
| ITPG.L | IBCI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.78% | -30.47% | +13.69% |
Max Drawdown (1Y)Largest decline over 1 year | -1.85% | -3.33% | +1.48% |
Max Drawdown (3Y)Largest decline over 3 years | -4.74% | -14.28% | +9.54% |
Max Drawdown (5Y)Largest decline over 5 years | -16.78% | -14.28% | -2.50% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.53% | — |
Current DrawdownCurrent decline from peak | -3.83% | -8.52% | +4.69% |
Average DrawdownAverage peak-to-trough decline | -5.43% | -10.76% | +5.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 1.54% | -0.77% |
Volatility
ITPG.L vs. IBCI.L - Volatility Comparison
The current volatility for iShares $ TIPS UCITS ETF GBP Hedged (Dist) (ITPG.L) is 0.98%, while iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) (IBCI.L) has a volatility of 1.41%. This indicates that ITPG.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
| ITPG.L | IBCI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 1.41% | -0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 2.83% | 3.72% | -0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.39% | 4.90% | -0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.38% | 11.49% | -5.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.35% | 11.76% | -5.41% |
ITPG.L vs. IBCI.L - Expense Ratio Comparison
ITPG.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
ITPG.L vs. IBCI.L - Dividend Comparison
ITPG.L's dividend yield for the trailing twelve months is around 4.66%, while IBCI.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IBCI.L iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ITPG.L iShares $ TIPS UCITS ETF GBP Hedged (Dist) | 4.66% | 4.56% | 4.62% | 1.50% | 1.24% | 1.09% | 2.03% | 2.79% | 1.92% |
Frequently Asked Questions
ITPG.L and IBCI.L have a correlation of 0.34, 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 ITPG.L.
ITPG.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 ITPG.L and 0.09% for IBCI.L.
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