PHPP.L vs. TIP
PHPP.L (WisdomTree Physical Precious Metals) and TIP (iShares TIPS Bond ETF) are both exchange-traded funds - PHPP.L is a Precious Metals fund tracking the Precious Metals Basket, while TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index. Both are passively managed. Over the past 10 years, PHPP.L returned 11.97%/yr vs 3.10%/yr for TIP. At a 0.15 correlation, their price movements are largely independent. PHPP.L charges 0.44%/yr vs 0.18%/yr for TIP.
Performance
PHPP.L vs. TIP - Performance Comparison
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Different Trading Currencies
PHPP.L is traded in GBp, while TIP is traded in USD. To make them comparable, the TIP values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, PHPP.L achieves a -8.39% return, which is significantly lower than TIP's 1.94% return. Over the past 10 years, PHPP.L has outperformed TIP with an annualized return of 11.97%, while TIP has yielded a comparatively lower 3.10% annualized return.
PHPP.L
- 1D
- -0.66%
- 1M
- -15.30%
- YTD
- -8.39%
- 6M
- -3.53%
- 1Y
- 34.65%
- 3Y*
- 21.96%
- 5Y*
- 10.65%
- 10Y*
- 11.97%
TIP
- 1D
- 0.15%
- 1M
- 0.80%
- YTD
- 1.94%
- 6M
- 1.14%
- 1Y
- 6.07%
- 3Y*
- 1.48%
- 5Y*
- 1.96%
- 10Y*
- 3.10%
PHPP.L vs. TIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHPP.L WisdomTree Physical Precious Metals | -8.39% | 72.45% | 17.27% | -8.55% | 11.64% | -10.26% | 22.29% | 22.41% | 5.44% | 5.38% |
TIP iShares TIPS Bond ETF | 1.94% | -0.84% | 3.43% | -1.38% | -1.83% | 6.68% | 7.58% | 4.23% | 4.42% | -5.98% |
Correlation
The correlation between PHPP.L and TIP is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008 | 0.15 |
The correlation between PHPP.L and TIP shifts across timeframes, from -0.07 (1 year) to 0.17 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
PHPP.L vs. TIP — Risk / Return Rank
PHPP.L
TIP
PHPP.L vs. TIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Precious Metals (PHPP.L) and iShares TIPS Bond ETF (TIP). 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.
| PHPP.L | TIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.18 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 1.03 | +0.13 |
| Martin ratioReturn relative to average drawdown | 3.15 | 2.72 | +0.43 |
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Drawdowns
PHPP.L vs. TIP - Drawdown Comparison
The maximum PHPP.L drawdown since its inception was -59.50%, which is greater than TIP's maximum drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for PHPP.L and TIP.
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Drawdown Indicators
| PHPP.L | TIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.50% | -16.91% | -42.59% |
Max Drawdown (1Y)Largest decline over 1 year | -29.75% | -5.92% | -23.83% |
Max Drawdown (3Y)Largest decline over 3 years | -29.75% | -8.07% | -21.68% |
Max Drawdown (5Y)Largest decline over 5 years | -29.75% | -15.85% | -13.90% |
Max Drawdown (10Y)Largest decline over 10 years | -29.75% | -15.85% | -13.90% |
Current DrawdownCurrent decline from peak | -29.75% | -8.00% | -21.75% |
Average DrawdownAverage peak-to-trough decline | -22.65% | -6.55% | -16.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.97% | 2.23% | +8.74% |
Volatility
PHPP.L vs. TIP - Volatility Comparison
WisdomTree Physical Precious Metals (PHPP.L) has a higher volatility of 7.62% compared to iShares TIPS Bond ETF (TIP) at 1.37%. This indicates that PHPP.L's price experiences larger fluctuations and is considered to be riskier than TIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PHPP.L | TIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.62% | 1.37% | +6.25% |
Volatility (6M)Calculated over the trailing 6-month period | 29.66% | 4.83% | +24.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.31% | 6.37% | +25.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.62% | 8.95% | +12.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.87% | 10.09% | +9.78% |
PHPP.L vs. TIP - Expense Ratio Comparison
PHPP.L has a 0.44% expense ratio, which is higher than TIP's 0.18% expense ratio.
Dividends
PHPP.L vs. TIP - Dividend Comparison
PHPP.L has not paid dividends to shareholders, while TIP's dividend yield for the trailing twelve months is around 3.76%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PHPP.L WisdomTree Physical Precious Metals | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TIP iShares TIPS Bond ETF | 3.76% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
Frequently Asked Questions
PHPP.L and TIP have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TIP is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TIP is cheaper with a 0.18% expense ratio, compared with 0.44% for PHPP.L.
PHPP.L is categorized as Precious Metals, while TIP is Inflation-Protected Bonds. PHPP.L tracks Precious Metals Basket, while TIP tracks ICE U.S. Treasury Inflation Linked Bond Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.44% for PHPP.L and 0.18% for TIP.
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