ITPS.L vs. ITPA.L
ITPS.L (iShares $ TIPS UCITS ETF USD (Acc)) and ITPA.L (iShares $ TIPS UCITS ETF GBP (Acc)) are both Inflation-Protected Bonds funds from iShares - ITPS.L tracks the Bloomberg Gbl Infl Linked US TIPS TR USD while ITPA.L tracks the BBG US Government Inflation-Linked Bond Index (USD). Both are passively managed. Over the past year, ITPS.L returned 5.75% vs 4.66% for ITPA.L. At a 0.35 correlation, their price movements are largely independent. Both charge a 0.12% expense ratio.
Performance
ITPS.L vs. ITPA.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 higher than ITPA.L's 1.26% 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%
ITPA.L
- 1D
- -0.05%
- 1M
- -0.03%
- YTD
- 1.26%
- 6M
- 1.13%
- 1Y
- 4.66%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ITPS.L vs. ITPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ITPS.L iShares $ TIPS UCITS ETF USD (Acc) | 1.40% | -0.29% | 2.66% |
ITPA.L iShares $ TIPS UCITS ETF GBP (Acc) | 1.26% | 6.54% | 1.72% |
Correlation
The correlation between ITPS.L and ITPA.L is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | 0.35 |
The correlation between ITPS.L and ITPA.L shifts across timeframes, from 0.19 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ITPS.L vs. ITPA.L — Risk / Return Rank
ITPS.L
ITPA.L
ITPS.L vs. ITPA.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 $ TIPS UCITS ETF GBP (Acc) (ITPA.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 | ITPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.23 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 2.49 | -1.40 |
| Martin ratioReturn relative to average drawdown | 2.78 | 7.30 | -4.52 |
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 | ITPA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 1.30 | -0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | — | — |
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 | 0.88 | -0.60 |
Drawdowns
ITPS.L vs. ITPA.L - Drawdown Comparison
The maximum ITPS.L drawdown since its inception was -37.27%, which is greater than ITPA.L's maximum drawdown of -4.08%. Use the drawdown chart below to compare losses from any high point for ITPS.L and ITPA.L.
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Drawdown Indicators
| ITPS.L | ITPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.27% | -4.08% | -33.19% |
Max Drawdown (1Y)Largest decline over 1 year | -5.26% | -1.86% | -3.40% |
Max Drawdown (3Y)Largest decline over 3 years | -7.85% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.72% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -15.72% | — | — |
Current DrawdownCurrent decline from peak | -7.94% | -0.41% | -7.53% |
Average DrawdownAverage peak-to-trough decline | -10.69% | -1.00% | -9.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 0.63% | +1.43% |
Volatility
ITPS.L vs. ITPA.L - Volatility Comparison
iShares $ TIPS UCITS ETF USD (Acc) (ITPS.L) has a higher volatility of 1.70% compared to iShares $ TIPS UCITS ETF GBP (Acc) (ITPA.L) at 1.30%. This indicates that ITPS.L's price experiences larger fluctuations and is considered to be riskier than ITPA.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 | ITPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.70% | 1.30% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 2.52% | +2.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.30% | 3.58% | +2.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.76% | 4.94% | +3.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.34% | 4.94% | +5.40% |
ITPS.L vs. ITPA.L - Expense Ratio Comparison
Both ITPS.L and ITPA.L have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
ITPS.L vs. ITPA.L - Dividend Comparison
Neither ITPS.L nor ITPA.L has paid dividends to shareholders.
Frequently Asked Questions
ITPS.L and ITPA.L have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ITPS.L and ITPA.L have the same expense ratio: 0.12% per year.
ITPS.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while ITPA.L tracks BBG US Government Inflation-Linked Bond Index (USD).
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