ITPS.L vs. IBCI.L
ITPS.L (iShares $ TIPS UCITS ETF USD (Acc)) and IBCI.L (iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc)) are both Inflation-Protected Bonds funds from iShares - ITPS.L tracks the Bloomberg Gbl Infl Linked US TIPS TR USD while IBCI.L tracks the BBG Euro Government Inflation-Linked Bond Index (EUR). Both are passively managed. Over the past 10 years, ITPS.L returned 2.16%/yr vs 1.54%/yr for IBCI.L. At a 0.43 correlation, their price movements are largely independent. ITPS.L charges 0.12%/yr vs 0.09%/yr for IBCI.L.
Performance
ITPS.L vs. IBCI.L - Performance Comparison
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Returns By Period
In the year-to-date period, ITPS.L achieves a 0.84% return, which is significantly higher than IBCI.L's -0.01% return. Over the past 10 years, ITPS.L has outperformed IBCI.L with an annualized return of 2.16%, while IBCI.L has yielded a comparatively lower 1.54% annualized return.
ITPS.L
- 1D
- 0.50%
- 1M
- -0.94%
- 6M
- 0.28%
- YTD
- 0.84%
- 1Y
- 3.02%
- 3Y*
- 2.68%
- 5Y*
- 0.95%
- 10Y*
- 2.16%
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%
ITPS.L vs. IBCI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ITPS.L iShares $ TIPS UCITS ETF USD (Acc) | 0.84% | -0.29% | 3.57% | -2.08% | -2.35% | 7.75% | 7.12% | 5.33% | 4.25% | -6.03% |
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% | -1.05% | 5.00% |
Correlation
The correlation between ITPS.L and IBCI.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008 | 0.43 |
The correlation between ITPS.L and IBCI.L shifts across timeframes, from 0.32 (1 year) to 0.53 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
ITPS.L vs. IBCI.L — Risk / Return Rank
ITPS.L
IBCI.L
ITPS.L vs. IBCI.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 € 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.
| ITPS.L | IBCI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.04 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.57 | 0.37 | +0.20 |
| Martin ratioReturn relative to average drawdown | 1.42 | 0.80 | +0.63 |
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Drawdowns
ITPS.L vs. IBCI.L - Drawdown Comparison
The maximum ITPS.L drawdown since its inception was -99.43%, which is greater than IBCI.L's maximum drawdown of -30.47%. Use the drawdown chart below to compare losses from any high point for ITPS.L and IBCI.L.
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Drawdown Indicators
| ITPS.L | IBCI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.43% | -30.47% | -68.96% |
Max Drawdown (1Y)Largest decline over 1 year | -5.26% | -3.33% | -1.93% |
Max Drawdown (3Y)Largest decline over 3 years | -20.71% | -14.28% | -6.43% |
Max Drawdown (5Y)Largest decline over 5 years | -25.63% | -14.28% | -11.35% |
Max Drawdown (10Y)Largest decline over 10 years | -25.63% | -14.53% | -11.10% |
Current DrawdownCurrent decline from peak | -98.78% | -8.52% | -90.26% |
Average DrawdownAverage peak-to-trough decline | -93.91% | -10.76% | -83.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 1.54% | +0.58% |
Volatility
ITPS.L vs. IBCI.L - Volatility Comparison
iShares $ TIPS UCITS ETF USD (Acc) (ITPS.L) has a higher volatility of 1.52% compared to iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) (IBCI.L) at 1.41%. This indicates that ITPS.L's price experiences larger fluctuations and is considered to be riskier 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
| ITPS.L | IBCI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.52% | 1.41% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 4.49% | 3.72% | +0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.15% | 4.90% | +1.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.80% | 11.49% | +9.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 11.76% | +4.72% |
ITPS.L vs. IBCI.L - Expense Ratio Comparison
ITPS.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
ITPS.L vs. IBCI.L - Dividend Comparison
Neither ITPS.L nor IBCI.L has paid dividends to shareholders.
Frequently Asked Questions
ITPS.L and IBCI.L have a correlation of 0.32, 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 ITPS.L.
ITPS.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while IBCI.L tracks BBG Euro Government Inflation-Linked Bond Index (EUR). Their fees differ too: 0.12% for ITPS.L and 0.09% for IBCI.L.
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