TIPA.L vs. INXG.L
TIPA.L (Lyxor Core US TIPS (DR) UCITS ETF - Acc) and INXG.L (iShares £ Index-Linked Gilts UCITS ETF) are both exchange-traded funds - TIPA.L is a Inflation-Protected Bonds fund tracking the Bloomberg Gbl Infl Linked US TIPS TR USD, 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, TIPA.L returned 0.93%/yr vs -9.23%/yr for INXG.L. At a 0.50 correlation, their price movements are largely independent. TIPA.L charges 0.09%/yr vs 0.10%/yr for INXG.L.
Performance
TIPA.L vs. INXG.L - Performance Comparison
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Different Trading Currencies
TIPA.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, TIPA.L achieves a 1.23% return, which is significantly higher than INXG.L's -0.20% return.
TIPA.L
- 1D
- 0.03%
- 1M
- -0.01%
- YTD
- 1.23%
- 6M
- 1.30%
- 1Y
- 4.75%
- 3Y*
- 3.80%
- 5Y*
- 0.93%
- 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%
TIPA.L vs. INXG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TIPA.L Lyxor Core US TIPS (DR) UCITS ETF - Acc | 1.23% | 6.81% | 2.09% | 3.51% | -12.46% | 5.91% | 11.05% | 0.73% |
INXG.L iShares £ Index-Linked Gilts UCITS ETF | -0.20% | 8.73% | -10.18% | 5.45% | -41.30% | 3.13% | 14.48% | 1.11% |
Correlation
The correlation between TIPA.L and INXG.L is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2019 | 0.50 |
The correlation between TIPA.L and INXG.L shifts across timeframes, from 0.50 (all time) to 0.60 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TIPA.L vs. INXG.L — Risk / Return Rank
TIPA.L
INXG.L
TIPA.L vs. INXG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lyxor Core US TIPS (DR) UCITS ETF - Acc (TIPA.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.
| TIPA.L | INXG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.15 | ||
| Sortino ratioReturn per unit of downside risk | +1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.04 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 0.30 | +2.27 |
| Martin ratioReturn relative to average drawdown | 7.17 | 0.62 | +6.55 |
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
| TIPA.L | INXG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | 0.17 | +1.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | -0.41 | +0.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.05 | +0.37 |
Drawdowns
TIPA.L vs. INXG.L - Drawdown Comparison
The maximum TIPA.L drawdown since its inception was -15.11%, smaller than the maximum INXG.L drawdown of -60.41%. Use the drawdown chart below to compare losses from any high point for TIPA.L and INXG.L.
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Drawdown Indicators
| TIPA.L | INXG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.11% | -60.41% | +45.30% |
Max Drawdown (1Y)Largest decline over 1 year | -1.84% | -7.74% | +5.90% |
Max Drawdown (3Y)Largest decline over 3 years | -4.61% | -18.39% | +13.78% |
Max Drawdown (5Y)Largest decline over 5 years | -15.11% | -60.41% | +45.30% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.41% | — |
Current DrawdownCurrent decline from peak | -0.79% | -42.61% | +41.82% |
Average DrawdownAverage peak-to-trough decline | -5.44% | -14.98% | +9.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 3.72% | -3.06% |
Volatility
TIPA.L vs. INXG.L - Volatility Comparison
The current volatility for Lyxor Core US TIPS (DR) UCITS ETF - Acc (TIPA.L) is 1.28%, while iShares £ Index-Linked Gilts UCITS ETF (INXG.L) has a volatility of 4.74%. This indicates that TIPA.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
| TIPA.L | INXG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 4.74% | -3.46% |
Volatility (6M)Calculated over the trailing 6-month period | 2.40% | 9.63% | -7.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.57% | 13.32% | -9.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.95% | 22.76% | -16.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.30% | 19.73% | -13.43% |
TIPA.L vs. INXG.L - Expense Ratio Comparison
TIPA.L has a 0.09% expense ratio, which is lower than INXG.L's 0.10% 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%.
Dividends
TIPA.L vs. INXG.L - Dividend Comparison
TIPA.L has not paid dividends to shareholders, while INXG.L's dividend yield for the trailing twelve months is around 7.56%.
| 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% |
TIPA.L Lyxor Core US TIPS (DR) UCITS ETF - 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% |
Frequently Asked Questions
TIPA.L and INXG.L have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TIPA.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TIPA.L is cheaper with a 0.09% expense ratio, compared with 0.10% for INXG.L.
TIPA.L is categorized as Inflation-Protected Bonds, while INXG.L is Government Bonds. TIPA.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while INXG.L tracks Bloomberg UK Government Inflation-Linked Bond Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.09% for TIPA.L and 0.10% for INXG.L.
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