ITPG.L vs. TP05.L
ITPG.L (iShares $ TIPS UCITS ETF GBP Hedged (Dist)) and TP05.L (iShares USD TIPS 0-5 UCITS ETF USD (Dist)) are both Inflation-Protected Bonds funds from iShares - ITPG.L tracks the BBG US Government Inflation-Linked Bond Index (USD) while TP05.L tracks the Bloomberg Gbl Infl Linked US TIPS TR USD. Both are passively managed. Over the past 5 years, ITPG.L returned -0.13%/yr vs 3.54%/yr for TP05.L. At a 0.02 correlation, their price movements are largely independent. ITPG.L charges 0.12%/yr vs 0.10%/yr for TP05.L.
Performance
ITPG.L vs. TP05.L - Performance Comparison
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Different Trading Currencies
ITPG.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, ITPG.L achieves a 0.96% return, which is significantly lower than TP05.L's 2.09% 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*
- —
TP05.L
- 1D
- 0.28%
- 1M
- -0.41%
- 6M
- 1.44%
- YTD
- 2.09%
- 1Y
- 3.34%
- 3Y*
- 3.89%
- 5Y*
- 3.54%
- 10Y*
- —
ITPG.L vs. TP05.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% |
TP05.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | 2.09% | -1.22% | 5.72% | -1.34% | 8.77% | 6.75% | 1.37% | 1.64% | 5.34% |
Correlation
The correlation between ITPG.L and TP05.L is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2018 | 0.02 |
The correlation between ITPG.L and TP05.L shifts across timeframes, from -0.10 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ITPG.L vs. TP05.L — Risk / Return Rank
ITPG.L
TP05.L
ITPG.L vs. TP05.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 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.
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 | TP05.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.09 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 0.67 | +0.92 |
| Martin ratioReturn relative to average drawdown | 3.86 | 1.85 | +2.01 |
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Drawdowns
ITPG.L vs. TP05.L - Drawdown Comparison
The maximum ITPG.L drawdown since its inception was -16.78%, smaller than the maximum TP05.L drawdown of -30.62%. Use the drawdown chart below to compare losses from any high point for ITPG.L and TP05.L.
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Drawdown Indicators
| ITPG.L | TP05.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.78% | -30.62% | +13.84% |
Max Drawdown (1Y)Largest decline over 1 year | -1.85% | -4.93% | +3.08% |
Max Drawdown (3Y)Largest decline over 3 years | -4.74% | -8.54% | +3.80% |
Max Drawdown (5Y)Largest decline over 5 years | -16.78% | -15.95% | -0.83% |
Current DrawdownCurrent decline from peak | -3.83% | -5.43% | +1.60% |
Average DrawdownAverage peak-to-trough decline | -5.43% | -15.83% | +10.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 1.80% | -1.03% |
Volatility
ITPG.L vs. TP05.L - Volatility Comparison
The current volatility for iShares $ TIPS UCITS ETF GBP Hedged (Dist) (ITPG.L) is 0.98%, while iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TP05.L) has a volatility of 1.21%. This indicates that ITPG.L experiences smaller price fluctuations and is considered to be less risky 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
| ITPG.L | TP05.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 1.21% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.83% | 5.57% | -2.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.39% | 6.95% | -2.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.38% | 8.39% | -2.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.35% | 11.24% | -4.89% |
ITPG.L vs. TP05.L - Expense Ratio Comparison
ITPG.L has a 0.12% expense ratio, which is higher than TP05.L's 0.10% 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. TP05.L - Dividend Comparison
ITPG.L's dividend yield for the trailing twelve months is around 4.66%, less than TP05.L's 5.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
TP05.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | 5.88% | 6.05% | 6.10% | 5.27% | 0.34% | 0.36% | 3.26% | 3.36% | 0.00% |
Frequently Asked Questions
ITPG.L and TP05.L have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TP05.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TP05.L is cheaper with a 0.10% expense ratio, compared with 0.12% for ITPG.L.
ITPG.L tracks BBG US Government Inflation-Linked Bond Index (USD), while TP05.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD. Their fees differ too: 0.12% for ITPG.L and 0.10% for TP05.L.
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