ITPS.L vs. GILG.L
ITPS.L (iShares $ TIPS UCITS ETF USD (Acc)) and GILG.L (iShares Global Inflation Linked Government Bond UCITS ETF GBP Hedged (Dist)) are both Inflation-Protected Bonds funds from iShares - ITPS.L tracks the Bloomberg Gbl Infl Linked US TIPS TR USD while GILG.L tracks the Bloomberg Gbl Infl Linked TR Hdg GBP. Both are passively managed. Over the past 5 years, ITPS.L returned 2.04%/yr vs -1.48%/yr for GILG.L. At a 0.32 correlation, their price movements are largely independent. ITPS.L charges 0.12%/yr vs 0.20%/yr for GILG.L.
Performance
ITPS.L vs. GILG.L - Performance Comparison
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Returns By Period
In the year-to-date period, ITPS.L achieves a 1.40% return, which is significantly lower than GILG.L's 1.51% return.
ITPS.L
- 1D
- 0.07%
- 1M
- 0.85%
- YTD
- 1.40%
- 6M
- 0.52%
- 1Y
- 5.75%
- 3Y*
- 1.16%
- 5Y*
- 2.04%
- 10Y*
- 3.38%
GILG.L
- 1D
- 0.09%
- 1M
- 0.46%
- YTD
- 1.51%
- 6M
- 1.28%
- 1Y
- 4.17%
- 3Y*
- 2.43%
- 5Y*
- -1.48%
- 10Y*
- —
ITPS.L vs. GILG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ITPS.L iShares $ TIPS UCITS ETF USD (Acc) | 1.40% | -0.29% | 3.57% | -2.08% | -2.35% | 7.75% | -2.00% |
GILG.L iShares Global Inflation Linked Government Bond UCITS ETF GBP Hedged (Dist) | 1.51% | 4.23% | -0.86% | 3.12% | -18.45% | 5.19% | 2.37% |
Correlation
The correlation between ITPS.L and GILG.L is 0.01, 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 | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2020 | 0.32 |
Over the past year, the correlation between ITPS.L and GILG.L has dropped to 0.01 - well below their long-term average of 0.32, suggesting their price drivers have been diverging.
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Return for Risk
ITPS.L vs. GILG.L — Risk / Return Rank
ITPS.L
GILG.L
ITPS.L vs. GILG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ TIPS UCITS ETF USD (Acc) (ITPS.L) and iShares Global Inflation Linked Government Bond UCITS ETF GBP Hedged (Dist) (GILG.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.
| ITPS.L | GILG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.15 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 1.71 | -0.62 |
| Martin ratioReturn relative to average drawdown | 2.78 | 4.72 | -1.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ITPS.L | GILG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.86 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | -0.19 | +0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | -0.12 | +0.40 |
Drawdowns
ITPS.L vs. GILG.L - Drawdown Comparison
The maximum ITPS.L drawdown since its inception was -37.27%, which is greater than GILG.L's maximum drawdown of -24.23%. Use the drawdown chart below to compare losses from any high point for ITPS.L and GILG.L.
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Drawdown Indicators
| ITPS.L | GILG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.27% | -24.23% | -13.04% |
Max Drawdown (1Y)Largest decline over 1 year | -5.26% | -2.43% | -2.83% |
Max Drawdown (3Y)Largest decline over 3 years | -7.85% | -5.52% | -2.33% |
Max Drawdown (5Y)Largest decline over 5 years | -15.72% | -24.23% | +8.51% |
Max Drawdown (10Y)Largest decline over 10 years | -15.72% | — | — |
Current DrawdownCurrent decline from peak | -7.94% | -13.44% | +5.50% |
Average DrawdownAverage peak-to-trough decline | -10.69% | -13.12% | +2.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 0.88% | +1.18% |
Volatility
ITPS.L vs. GILG.L - Volatility Comparison
iShares $ TIPS UCITS ETF USD (Acc) (ITPS.L) has a higher volatility of 1.70% compared to iShares Global Inflation Linked Government Bond UCITS ETF GBP Hedged (Dist) (GILG.L) at 1.48%. This indicates that ITPS.L's price experiences larger fluctuations and is considered to be riskier than GILG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ITPS.L | GILG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.70% | 1.48% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 3.40% | +1.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.30% | 4.84% | +1.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.76% | 7.79% | +0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.34% | 7.54% | +2.80% |
ITPS.L vs. GILG.L - Expense Ratio Comparison
ITPS.L has a 0.12% expense ratio, which is lower than GILG.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%.
Dividends
ITPS.L vs. GILG.L - Dividend Comparison
ITPS.L has not paid dividends to shareholders, while GILG.L's dividend yield for the trailing twelve months is around 0.98%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
GILG.L iShares Global Inflation Linked Government Bond UCITS ETF GBP Hedged (Dist) | 0.98% | 0.96% | 0.87% | 0.79% | 0.72% | 0.50% |
ITPS.L iShares $ TIPS UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ITPS.L and GILG.L have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ITPS.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ITPS.L is cheaper with a 0.12% expense ratio, compared with 0.20% for GILG.L.
ITPS.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while GILG.L tracks Bloomberg Gbl Infl Linked TR Hdg GBP. Their fees differ too: 0.12% for ITPS.L and 0.20% for GILG.L.
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