TIPG.L vs. ITPG.L
TIPG.L (Lyxor Core US TIPS (DR) UCITS ETF - Dist) and ITPG.L (iShares $ TIPS UCITS ETF GBP Hedged (Dist)) are both Inflation-Protected Bonds funds - TIPG.L tracks the Bloomberg Gbl Infl Linked US TIPS TR USD while ITPG.L tracks the BBG US Government Inflation-Linked Bond Index (USD). Both are passively managed. Over the past 5 years, TIPG.L returned 0.90%/yr vs -0.13%/yr for ITPG.L. At a 0.33 correlation, their price movements are largely independent. TIPG.L charges 0.09%/yr vs 0.12%/yr for ITPG.L.
Performance
TIPG.L vs. ITPG.L - Performance Comparison
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Different Trading Currencies
TIPG.L is traded in GBp, while ITPG.L is traded in GBP. To make them comparable, the ITPG.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, TIPG.L achieves a 0.76% return, which is significantly lower than ITPG.L's 0.96% return.
TIPG.L
- 1D
- 0.45%
- 1M
- -0.92%
- 6M
- 0.34%
- YTD
- 0.76%
- 1Y
- 2.81%
- 3Y*
- 2.62%
- 5Y*
- 0.90%
- 10Y*
- —
ITPG.L
- 1D
- 0.00%
- 1M
- -0.42%
- 6M
- 0.75%
- YTD
- 0.96%
- 1Y
- 2.96%
- 3Y*
- 3.32%
- 5Y*
- -0.13%
- 10Y*
- —
TIPG.L vs. ITPG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TIPG.L Lyxor Core US TIPS (DR) UCITS ETF - Dist | 0.76% | -0.42% | 3.73% | -2.20% | -2.41% | 7.73% | 7.24% | 5.48% | 8.03% |
ITPG.L iShares $ TIPS UCITS ETF GBP Hedged (Dist) | 0.96% | 6.20% | 1.89% | 2.58% | -13.77% | 6.17% | 10.05% | 6.89% | -1.16% |
Correlation
The correlation between TIPG.L and ITPG.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2018 | 0.33 |
Over the past year, the correlation between TIPG.L and ITPG.L has dropped to 0.13 - well below their long-term average of 0.33, suggesting their price drivers have been diverging.
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Return for Risk
TIPG.L vs. ITPG.L — Risk / Return Rank
TIPG.L
ITPG.L
TIPG.L vs. ITPG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lyxor Core US TIPS (DR) UCITS ETF - Dist (TIPG.L) and iShares $ TIPS UCITS ETF GBP Hedged (Dist) (ITPG.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.
| TIPG.L | ITPG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.13 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.53 | 1.60 | -1.06 |
| Martin ratioReturn relative to average drawdown | 1.27 | 3.86 | -2.59 |
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Drawdowns
TIPG.L vs. ITPG.L - Drawdown Comparison
The maximum TIPG.L drawdown since its inception was -30.41%, which is greater than ITPG.L's maximum drawdown of -16.78%. Use the drawdown chart below to compare losses from any high point for TIPG.L and ITPG.L.
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Drawdown Indicators
| TIPG.L | ITPG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.41% | -16.78% | -13.63% |
Max Drawdown (1Y)Largest decline over 1 year | -5.24% | -1.85% | -3.39% |
Max Drawdown (3Y)Largest decline over 3 years | -8.00% | -4.74% | -3.26% |
Max Drawdown (5Y)Largest decline over 5 years | -15.73% | -16.78% | +1.05% |
Current DrawdownCurrent decline from peak | -8.58% | -3.83% | -4.75% |
Average DrawdownAverage peak-to-trough decline | -14.08% | -5.43% | -8.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 0.77% | +1.44% |
Volatility
TIPG.L vs. ITPG.L - Volatility Comparison
Lyxor Core US TIPS (DR) UCITS ETF - Dist (TIPG.L) has a higher volatility of 1.39% compared to iShares $ TIPS UCITS ETF GBP Hedged (Dist) (ITPG.L) at 0.98%. This indicates that TIPG.L's price experiences larger fluctuations and is considered to be riskier than ITPG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIPG.L | ITPG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 0.98% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 4.47% | 2.83% | +1.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.18% | 4.39% | +1.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.65% | 6.38% | +2.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.03% | 6.35% | +5.68% |
TIPG.L vs. ITPG.L - Expense Ratio Comparison
TIPG.L has a 0.09% expense ratio, which is lower than ITPG.L's 0.12% 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
TIPG.L vs. ITPG.L - Dividend Comparison
TIPG.L's dividend yield for the trailing twelve months is around 1.11%, less than ITPG.L's 4.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ITPG.L iShares $ TIPS UCITS ETF GBP Hedged (Dist) | 4.66% | 4.56% | 4.62% | 1.50% | 1.24% | 1.09% | 2.03% | 2.79% | 1.92% | 0.00% |
TIPG.L Lyxor Core US TIPS (DR) UCITS ETF - Dist | 1.11% | 1.12% | 0.88% | 0.72% | 0.70% | 0.55% | 0.65% | 0.78% | 0.77% | 0.82% |
Frequently Asked Questions
TIPG.L and ITPG.L have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TIPG.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TIPG.L is cheaper with a 0.09% expense ratio, compared with 0.12% for ITPG.L.
TIPG.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while ITPG.L tracks BBG US Government Inflation-Linked Bond Index (USD). They also come from different issuers: Amundi and iShares. Their fees differ too: 0.09% for TIPG.L and 0.12% for ITPG.L.
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