ITPS.L vs. TIPZ

Last updated Apr 1, 2026

Compare and contrast key facts about iShares $ TIPS UCITS ETF USD (Acc) (ITPS.L) and PIMCO Broad US TIPS Index ETF (TIPZ).

ITPS.L and TIPZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ITPS.L is a passively managed fund by iShares that tracks the performance of the Bloomberg Gbl Infl Linked US TIPS TR USD. It was launched on Dec 8, 2006. TIPZ is a passively managed fund by PIMCO that tracks the performance of the ICE BofA US Inflation-Linked Treasury. It was launched on Sep 3, 2009. Both ITPS.L and TIPZ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ITPS.L vs. TIPZ - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares $ TIPS UCITS ETF USD (Acc) (ITPS.L) and PIMCO Broad US TIPS Index ETF (TIPZ). The values are adjusted to include any dividend payments, if applicable.

ITPS.L vs. TIPZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ITPS.L iShares $ TIPS UCITS ETF USD (Acc)	2.07%	-0.29%	3.57%	-2.08%	-2.35%	7.75%	7.12%	5.33%	4.25%	-6.03%
TIPZ PIMCO Broad US TIPS Index ETF	3.40%	-1.68%	3.29%	-1.80%	-2.28%	6.48%	7.72%	4.51%	4.18%	-5.80%

Different Trading Currencies

ITPS.L is traded in GBP, while TIPZ is traded in USD. To make them comparable, the TIPZ 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 2.07% return, which is significantly lower than TIPZ's 3.40% return. Both investments have delivered pretty close results over the past 10 years, with ITPS.L having a 3.26% annualized return and TIPZ not far behind at 3.16%.

ITPS.L

• 1D: -0.09%
• 1M: 0.57%
• YTD: 2.07%
• 6M: 2.33%
• 1Y: 0.42%
• 3Y*: 0.93%
• 5Y*: 2.21%
• 10Y*: 3.26%

TIPZ

• 1D: -0.22%
• 1M: 0.53%
• YTD: 3.40%
• 6M: 2.07%
• 1Y: 0.61%
• 3Y*: 0.61%
• 5Y*: 1.99%
• 10Y*: 3.16%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ITPS.L vs. TIPZ - Expense Ratio Comparison

ITPS.L has a 0.12% expense ratio, which is lower than TIPZ's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

TIPZ

PIMCO Broad US TIPS Index ETF

ITPS.L

iShares $ TIPS UCITS ETF USD (Acc)

Return for Risk

ITPS.L vs. TIPZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ITPS.L

ITPS.L Risk / Return Rank: 13
ITPS.L Sharpe Ratio Rank: 14
ITPS.L Sortino Ratio Rank: 12
ITPS.L Omega Ratio Rank: 11
ITPS.L Calmar Ratio Rank: 13
ITPS.L Martin Ratio Rank: 13

TIPZ

TIPZ Risk / Return Rank: 37
TIPZ Sharpe Ratio Rank: 36
TIPZ Sortino Ratio Rank: 32
TIPZ Omega Ratio Rank: 31
TIPZ Calmar Ratio Rank: 48
TIPZ Martin Ratio Rank: 38

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ITPS.L vs. TIPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares $ TIPS UCITS ETF USD (Acc) (ITPS.L) and PIMCO Broad US TIPS Index ETF (TIPZ). 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	TIPZ	Difference
Sharpe ratio Return per unit of total volatility	0.06	0.08	-0.02
Sortino ratio Return per unit of downside risk	0.13	0.17	-0.04
Omega ratio Gain probability vs. loss probability	1.02	1.02	0.00
Calmar ratio Return relative to maximum drawdown	0.07	0.17	-0.10
Martin ratio Return relative to average drawdown	0.12	0.31	-0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ITPS.L vs. TIPZ - Sharpe Ratio Comparison

The current ITPS.L Sharpe Ratio is 0.06, which is comparable to the TIPZ Sharpe Ratio of 0.08. The chart below compares the historical Sharpe Ratios of ITPS.L and TIPZ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ITPS.L	TIPZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.06	0.08	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.22	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	0.31	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.43	-0.15

Correlation

The correlation between ITPS.L and TIPZ is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ITPS.L vs. TIPZ - Dividend Comparison

ITPS.L has not paid dividends to shareholders, while TIPZ's dividend yield for the trailing twelve months is around 4.44%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%	0.00%
TIPZ PIMCO Broad US TIPS Index ETF	4.44%	4.74%	4.44%	4.69%	7.14%	4.41%	1.47%	1.65%	2.23%	1.70%	1.06%	0.56%

Drawdowns

ITPS.L vs. TIPZ - Drawdown Comparison

The maximum ITPS.L drawdown since its inception was -37.27%, which is greater than TIPZ's maximum drawdown of -17.27%. Use the drawdown chart below to compare losses from any high point for ITPS.L and TIPZ.

Drawdown Indicators

	ITPS.L	TIPZ	Difference
Max Drawdown Largest peak-to-trough decline	-37.27%	-15.77%	-21.50%
Max Drawdown (1Y) Largest decline over 1 year	-7.12%	-2.86%	-4.26%
Max Drawdown (5Y) Largest decline over 5 years	-15.72%	-15.77%	+0.05%
Max Drawdown (10Y) Largest decline over 10 years	-15.72%	-15.77%	+0.05%
Current Drawdown Current decline from peak	-7.33%	-2.51%	-4.82%
Average Drawdown Average peak-to-trough decline	-10.71%	-4.36%	-6.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.90%	0.99%	+2.91%

Volatility

ITPS.L vs. TIPZ - Volatility Comparison

The current volatility for iShares $ TIPS UCITS ETF USD (Acc) (ITPS.L) is 2.06%, while PIMCO Broad US TIPS Index ETF (TIPZ) has a volatility of 2.54%. This indicates that ITPS.L experiences smaller price fluctuations and is considered to be less risky than TIPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ITPS.L	TIPZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.06%	2.54%	-0.48%
Volatility (6M) Calculated over the trailing 6-month period	4.45%	5.20%	-0.75%
Volatility (1Y) Calculated over the trailing 1-year period	7.42%	7.66%	-0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.77%	9.19%	-0.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.37%	10.28%	+0.09%