ITPS.L vs. ITPG.L
ITPS.L (iShares $ TIPS UCITS ETF USD (Acc)) and ITPG.L (iShares $ TIPS 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 ITPG.L tracks the BBG US Government Inflation-Linked Bond Index (USD). Both are passively managed. Over the past 5 years, ITPS.L returned 0.95%/yr vs -0.13%/yr for ITPG.L. At a 0.34 correlation, their price movements are largely independent. Both charge a 0.12% expense ratio.
Performance
ITPS.L vs. ITPG.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 lower than ITPG.L's 0.96% 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%
ITPG.L
- 1D
- 0.00%
- 1M
- -0.42%
- 6M
- 0.75%
- YTD
- 0.96%
- 1Y
- 2.96%
- 3Y*
- 3.32%
- 5Y*
- -0.13%
- 10Y*
- —
ITPS.L vs. ITPG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ITPS.L iShares $ TIPS UCITS ETF USD (Acc) | 0.84% | -0.29% | 3.57% | -2.08% | -2.35% | 7.75% | 7.12% | 5.33% | 7.88% |
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% |
Correlation
The correlation between ITPS.L and ITPG.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2018 | 0.34 |
Over the past year, the correlation between ITPS.L and ITPG.L has dropped to 0.13 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.
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Return for Risk
ITPS.L vs. ITPG.L — Risk / Return Rank
ITPS.L
ITPG.L
ITPS.L vs. ITPG.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 Hedged (Dist) (ITPG.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 | ITPG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.13 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.57 | 1.60 | -1.02 |
| Martin ratioReturn relative to average drawdown | 1.42 | 3.86 | -2.43 |
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Drawdowns
ITPS.L vs. ITPG.L - Drawdown Comparison
The maximum ITPS.L drawdown since its inception was -99.43%, which is greater than ITPG.L's maximum drawdown of -16.78%. Use the drawdown chart below to compare losses from any high point for ITPS.L and ITPG.L.
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Drawdown Indicators
| ITPS.L | ITPG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.43% | -16.78% | -82.65% |
Max Drawdown (1Y)Largest decline over 1 year | -5.26% | -1.85% | -3.41% |
Max Drawdown (3Y)Largest decline over 3 years | -20.71% | -4.74% | -15.97% |
Max Drawdown (5Y)Largest decline over 5 years | -25.63% | -16.78% | -8.85% |
Max Drawdown (10Y)Largest decline over 10 years | -25.63% | — | — |
Current DrawdownCurrent decline from peak | -98.78% | -3.83% | -94.95% |
Average DrawdownAverage peak-to-trough decline | -93.91% | -5.43% | -88.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 0.77% | +1.35% |
Volatility
ITPS.L vs. ITPG.L - Volatility Comparison
iShares $ TIPS UCITS ETF USD (Acc) (ITPS.L) has a higher volatility of 1.52% compared to iShares $ TIPS UCITS ETF GBP Hedged (Dist) (ITPG.L) at 0.98%. This indicates that ITPS.L's price experiences larger fluctuations and is considered to be riskier than ITPG.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 | ITPG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.52% | 0.98% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 4.49% | 2.83% | +1.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.15% | 4.39% | +1.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.80% | 6.38% | +14.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 6.35% | +10.13% |
ITPS.L vs. ITPG.L - Expense Ratio Comparison
Both ITPS.L and ITPG.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. ITPG.L - Dividend Comparison
ITPS.L has not paid dividends to shareholders, while ITPG.L's dividend yield for the trailing twelve months is around 4.66%.
| 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% |
ITPS.L iShares $ TIPS UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ITPS.L and ITPG.L have a correlation of 0.13, 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 ITPG.L have the same expense ratio: 0.12% per year.
ITPS.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while ITPG.L tracks BBG US Government Inflation-Linked Bond Index (USD).
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