ITPS.L vs. IBTA.L
ITPS.L (iShares $ TIPS UCITS ETF USD (Acc)) and IBTA.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) are both exchange-traded funds - ITPS.L is a Inflation-Protected Bonds fund tracking the Bloomberg Gbl Infl Linked US TIPS TR USD, while IBTA.L is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, ITPS.L returned 2.04%/yr vs 2.97%/yr for IBTA.L. A 0.69 correlation means they provide meaningful diversification when combined. ITPS.L charges 0.12%/yr vs 0.07%/yr for IBTA.L.
Performance
ITPS.L vs. IBTA.L - Performance Comparison
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Different Trading Currencies
ITPS.L is traded in GBP, while IBTA.L is traded in USD. To make them comparable, the IBTA.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, ITPS.L achieves a 1.40% return, which is significantly higher than IBTA.L's 0.86% 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%
IBTA.L
- 1D
- 0.13%
- 1M
- 1.05%
- YTD
- 0.86%
- 6M
- 0.22%
- 1Y
- 4.43%
- 3Y*
- 1.61%
- 5Y*
- 2.97%
- 10Y*
- —
ITPS.L vs. IBTA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ITPS.L iShares $ TIPS UCITS ETF USD (Acc) | 1.40% | -0.29% | 3.57% | -2.08% | -2.35% | 7.75% | 7.12% | 5.33% | 4.25% | -6.72% |
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.86% | -2.20% | 5.93% | -1.06% | 7.69% | 0.30% | 0.11% | -0.36% | 7.45% | -7.49% |
Correlation
The correlation between ITPS.L and IBTA.L is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2017 | 0.69 |
The correlation between ITPS.L and IBTA.L has been stable across timeframes, ranging from 0.64 to 0.69 - a consistent structural relationship.
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Return for Risk
ITPS.L vs. IBTA.L — Risk / Return Rank
ITPS.L
IBTA.L
ITPS.L vs. IBTA.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 USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.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 | IBTA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.12 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 0.85 | +0.24 |
| Martin ratioReturn relative to average drawdown | 2.78 | 2.34 | +0.44 |
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 | IBTA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.69 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.36 | -0.13 |
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 | 0.13 | +0.15 |
Drawdowns
ITPS.L vs. IBTA.L - Drawdown Comparison
The maximum ITPS.L drawdown since its inception was -37.27%, which is greater than IBTA.L's maximum drawdown of -18.45%. Use the drawdown chart below to compare losses from any high point for ITPS.L and IBTA.L.
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Drawdown Indicators
| ITPS.L | IBTA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.27% | -18.45% | -18.82% |
Max Drawdown (1Y)Largest decline over 1 year | -5.26% | -5.21% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -7.85% | -9.27% | +1.42% |
Max Drawdown (5Y)Largest decline over 5 years | -15.72% | -16.67% | +0.95% |
Max Drawdown (10Y)Largest decline over 10 years | -15.72% | — | — |
Current DrawdownCurrent decline from peak | -7.94% | -7.85% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -10.69% | -8.99% | -1.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 1.89% | +0.17% |
Volatility
ITPS.L vs. IBTA.L - Volatility Comparison
iShares $ TIPS UCITS ETF USD (Acc) (ITPS.L) and iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) have volatilities of 1.70% and 1.65%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ITPS.L | IBTA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.70% | 1.65% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 4.90% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.30% | 6.36% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.76% | 8.23% | +0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.34% | 8.51% | +1.83% |
ITPS.L vs. IBTA.L - Expense Ratio Comparison
ITPS.L has a 0.12% expense ratio, which is higher than IBTA.L's 0.07% 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. IBTA.L - Dividend Comparison
Neither ITPS.L nor IBTA.L has paid dividends to shareholders.
Frequently Asked Questions
ITPS.L and IBTA.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTA.L is cheaper with a 0.07% expense ratio, compared with 0.12% for ITPS.L.
ITPS.L is categorized as Inflation-Protected Bonds, while IBTA.L is Government Bonds. ITPS.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while IBTA.L tracks ICE US Treasury 1-3 Year Index. Their fees differ too: 0.12% for ITPS.L and 0.07% for IBTA.L.
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