TIP5.L vs. INXG.L
TIP5.L (iShares USD TIPS 0-5 UCITS ETF USD (Dist)) and INXG.L (iShares £ Index-Linked Gilts UCITS ETF) are both exchange-traded funds - TIP5.L is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index 0-5, while INXG.L is a Government Bonds fund tracking the Bloomberg UK Government Inflation-Linked Bond Index. Both are passively managed. Over the past 5 years, TIP5.L returned 3.31%/yr vs -9.23%/yr for INXG.L. At a 0.31 correlation, their price movements are largely independent. Both charge a 0.10% expense ratio.
Performance
TIP5.L vs. INXG.L - Performance Comparison
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Different Trading Currencies
TIP5.L is traded in USD, while INXG.L is traded in GBP. To make them comparable, the INXG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, TIP5.L achieves a 1.77% return, which is significantly higher than INXG.L's -0.20% return.
TIP5.L
- 1D
- -0.01%
- 1M
- 0.03%
- YTD
- 1.77%
- 6M
- 2.06%
- 1Y
- 4.41%
- 3Y*
- 5.18%
- 5Y*
- 3.31%
- 10Y*
- —
INXG.L
- 1D
- 0.49%
- 1M
- 0.22%
- YTD
- -0.20%
- 6M
- 0.00%
- 1Y
- 2.32%
- 3Y*
- 1.93%
- 5Y*
- -9.23%
- 10Y*
- -1.89%
TIP5.L vs. INXG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIP5.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | 1.77% | 6.22% | 4.90% | 4.24% | -2.74% | 5.42% | 4.91% | 4.90% | 0.56% | 0.16% |
INXG.L iShares £ Index-Linked Gilts UCITS ETF | -0.20% | 8.73% | -10.18% | 5.45% | -41.30% | 3.13% | 14.48% | 10.54% | -6.12% | 2.22% |
Correlation
The correlation between TIP5.L and INXG.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since May 24, 2017 | 0.31 |
The correlation between TIP5.L and INXG.L shifts across timeframes, from 0.18 (1 year) to 0.36 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TIP5.L vs. INXG.L — Risk / Return Rank
TIP5.L
INXG.L
TIP5.L vs. INXG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TIP5.L) and iShares £ Index-Linked Gilts UCITS ETF (INXG.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.
| TIP5.L | INXG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.82 | ||
| Sortino ratioReturn per unit of downside risk | +2.79 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.04 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 6.97 | 0.30 | +6.67 |
| Martin ratioReturn relative to average drawdown | 19.95 | 0.62 | +19.33 |
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
| TIP5.L | INXG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.99 | 0.17 | +1.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.11 | -0.41 | +1.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.04 | 0.05 | +1.00 |
Drawdowns
TIP5.L vs. INXG.L - Drawdown Comparison
The maximum TIP5.L drawdown since its inception was -5.55%, smaller than the maximum INXG.L drawdown of -60.41%. Use the drawdown chart below to compare losses from any high point for TIP5.L and INXG.L.
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Drawdown Indicators
| TIP5.L | INXG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.55% | -60.41% | +54.86% |
Max Drawdown (1Y)Largest decline over 1 year | -0.63% | -7.74% | +7.11% |
Max Drawdown (3Y)Largest decline over 3 years | -1.51% | -18.39% | +16.88% |
Max Drawdown (5Y)Largest decline over 5 years | -5.21% | -60.41% | +55.20% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.41% | — |
Current DrawdownCurrent decline from peak | -0.14% | -42.61% | +42.47% |
Average DrawdownAverage peak-to-trough decline | -0.73% | -14.98% | +14.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 3.72% | -3.50% |
Volatility
TIP5.L vs. INXG.L - Volatility Comparison
The current volatility for iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TIP5.L) is 0.54%, while iShares £ Index-Linked Gilts UCITS ETF (INXG.L) has a volatility of 4.74%. This indicates that TIP5.L experiences smaller price fluctuations and is considered to be less risky than INXG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIP5.L | INXG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.54% | 4.74% | -4.20% |
Volatility (6M)Calculated over the trailing 6-month period | 1.49% | 9.63% | -8.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.22% | 13.32% | -11.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.96% | 22.76% | -19.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.18% | 19.73% | -16.55% |
TIP5.L vs. INXG.L - Expense Ratio Comparison
Both TIP5.L and INXG.L have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
TIP5.L vs. INXG.L - Dividend Comparison
TIP5.L's dividend yield for the trailing twelve months is around 5.81%, less than INXG.L's 7.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INXG.L iShares £ Index-Linked Gilts UCITS ETF | 7.56% | 7.23% | 5.77% | 0.43% | 0.00% | 0.00% | 0.61% | 1.36% | 1.95% | 1.28% | 0.65% | 1.94% |
TIP5.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | 5.81% | 5.93% | 6.97% | 5.15% | 0.34% | 0.37% | 3.00% | 3.27% | 2.99% | 1.03% | 0.00% | 0.00% |
Frequently Asked Questions
TIP5.L and INXG.L have a correlation of 0.18, 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 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
TIP5.L and INXG.L have the same expense ratio: 0.10% per year.
TIP5.L is categorized as Inflation-Protected Bonds, while INXG.L is Government Bonds. TIP5.L tracks ICE U.S. Treasury Inflation Linked Bond Index 0-5, while INXG.L tracks Bloomberg UK Government Inflation-Linked Bond Index.
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