ITPS.L vs. SMEA.L
ITPS.L (iShares $ TIPS UCITS ETF USD (Acc)) and SMEA.L (iShares Core MSCI Europe UCITS ETF EUR (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 SMEA.L is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, ITPS.L returned 2.02%/yr vs 10.09%/yr for SMEA.L. At a correlation of -0.06, they often move in opposite directions. Both charge a 0.12% expense ratio.
Performance
ITPS.L vs. SMEA.L - Performance Comparison
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Different Trading Currencies
ITPS.L is traded in GBP, while SMEA.L is traded in GBp. To make them comparable, the SMEA.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 1.72% return, which is significantly lower than SMEA.L's 10.16% return. Over the past 10 years, ITPS.L has underperformed SMEA.L with an annualized return of 2.02%, while SMEA.L has yielded a comparatively higher 10.09% annualized return.
ITPS.L
- 1D
- 0.00%
- 1M
- 0.24%
- 6M
- 2.17%
- YTD
- 1.72%
- 1Y
- 5.67%
- 3Y*
- 2.79%
- 5Y*
- 1.24%
- 10Y*
- 2.02%
SMEA.L
- 1D
- -0.58%
- 1M
- 3.82%
- 6M
- 8.88%
- YTD
- 10.16%
- 1Y
- 22.34%
- 3Y*
- 16.47%
- 5Y*
- 10.52%
- 10Y*
- 10.09%
ITPS.L vs. SMEA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ITPS.L iShares $ TIPS UCITS ETF USD (Acc) | 1.72% | -0.29% | 3.57% | -2.08% | -2.35% | 7.75% | 7.12% | 5.33% | 4.25% | -6.03% |
SMEA.L iShares Core MSCI Europe UCITS ETF EUR (Acc) | 10.16% | 25.88% | 3.68% | 13.36% | -3.48% | 16.94% | 2.44% | 19.59% | -9.45% | 14.92% |
Correlation
The correlation between ITPS.L and SMEA.L is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2009 | -0.06 |
The correlation between ITPS.L and SMEA.L shifts across timeframes, from -0.12 (1 year) to 0.06 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
ITPS.L vs. SMEA.L — Risk / Return Rank
ITPS.L
SMEA.L
ITPS.L vs. SMEA.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 Core MSCI Europe UCITS ETF EUR (Acc) (SMEA.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 | SMEA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.35 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.07 | 2.11 | -1.03 |
| Martin ratioReturn relative to average drawdown | 2.72 | 7.54 | -4.83 |
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Drawdowns
ITPS.L vs. SMEA.L - Drawdown Comparison
The maximum ITPS.L drawdown since its inception was -99.43%, which is greater than SMEA.L's maximum drawdown of -30.06%. Use the drawdown chart below to compare losses from any high point for ITPS.L and SMEA.L.
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Drawdown Indicators
| ITPS.L | SMEA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.43% | -30.06% | -69.37% |
Max Drawdown (1Y)Largest decline over 1 year | -5.26% | -10.56% | +5.30% |
Max Drawdown (3Y)Largest decline over 3 years | -20.71% | -14.06% | -6.65% |
Max Drawdown (5Y)Largest decline over 5 years | -25.63% | -15.76% | -9.87% |
Max Drawdown (10Y)Largest decline over 10 years | -25.63% | -28.56% | +2.93% |
Current DrawdownCurrent decline from peak | -98.77% | -0.58% | -98.19% |
Average DrawdownAverage peak-to-trough decline | -93.90% | -6.63% | -87.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | 2.96% | -0.88% |
Volatility
ITPS.L vs. SMEA.L - Volatility Comparison
The current volatility for iShares $ TIPS UCITS ETF USD (Acc) (ITPS.L) is 1.62%, while iShares Core MSCI Europe UCITS ETF EUR (Acc) (SMEA.L) has a volatility of 3.13%. This indicates that ITPS.L experiences smaller price fluctuations and is considered to be less risky than SMEA.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 | SMEA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 3.13% | -1.51% |
Volatility (6M)Calculated over the trailing 6-month period | 4.50% | 10.36% | -5.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.19% | 12.13% | -5.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.81% | 18.17% | +2.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.51% | 16.97% | -0.46% |
ITPS.L vs. SMEA.L - Expense Ratio Comparison
Both ITPS.L and SMEA.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. SMEA.L - Dividend Comparison
Neither ITPS.L nor SMEA.L has paid dividends to shareholders.
Frequently Asked Questions
ITPS.L and SMEA.L have a correlation of -0.12, 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 SMEA.L have the same expense ratio: 0.12% per year.
ITPS.L is categorized as Inflation-Protected Bonds, while SMEA.L is Europe Equities. ITPS.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while SMEA.L tracks MSCI Europe NR EUR.
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