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TP05.L vs. ERNS.L
Performance
Return for Risk
Dividends
Drawdowns
Volatility

TP05.L vs. ERNS.L

Last updated Apr 2, 2026

Compare and contrast key facts about iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TP05.L) and iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L).

TP05.L and ERNS.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TP05.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 Apr 20, 2017. ERNS.L is an actively managed fund by iShares. It was launched on Oct 16, 2013.

Performance

TP05.L vs. ERNS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TP05.L) and iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L). The values are adjusted to include any dividend payments, if applicable.

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TP05.L vs. ERNS.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TP05.L
iShares USD TIPS 0-5 UCITS ETF USD (Dist)		2.17%-1.30%6.56%-1.34%8.77%6.75%1.37%1.64%6.35%-3.56%
ERNS.L
iShares £ Ultrashort Bond UCITS ETF GBP (Dist)		0.77%4.84%5.54%4.76%1.54%0.13%0.77%1.27%0.58%0.28%
Different Trading Currencies

TP05.L is traded in GBp, while ERNS.L is traded in GBP. To make them comparable, the ERNS.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, TP05.L achieves a 2.17% return, which is significantly higher than ERNS.L's 0.77% return.

TP05.L

1D
-0.91%
1M
0.52%
YTD
2.17%
6M
2.49%
1Y
0.78%
3Y*
2.18%
5Y*
4.26%
10Y*
—

ERNS.L

1D
0.06%
1M
0.25%
YTD
0.77%
6M
2.03%
1Y
4.53%
3Y*
5.07%
5Y*
3.46%
10Y*
2.14%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares USD TIPS 0-5 UCITS ETF USD (Dist)

iShares £ Ultrashort Bond UCITS ETF GBP (Dist)

Often compared with TP05.L:
TP05.L vs. SXRH.DETP05.L vs. SXRM.DETP05.L vs. TI5G.LTP05.L vs. IBTU.LTP05.L vs. VUCP.LTP05.L vs. INXG.LTP05.L vs. AGGG.L
Often compared with ERNS.L:
ERNS.L vs. CSH2.LERNS.L vs. IGLT.LERNS.L vs. ICSHERNS.L vs. TI5G.LERNS.L vs. CEMBERNS.L vs. IHG.LERNS.L vs. VOC

TP05.L vs. ERNS.L - Expense Ratio Comparison

TP05.L has a 0.10% expense ratio, which is higher than ERNS.L's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

TP05.L
iShares USD TIPS 0-5 UCITS ETF USD (Dist)
ERNS.L
iShares £ Ultrashort Bond UCITS ETF GBP (Dist)

Return for Risk

TP05.L vs. ERNS.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TP05.L
TP05.L Risk / Return Rank: 1414
Overall Rank
TP05.L Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
TP05.L Sortino Ratio Rank: 1313
Sortino Ratio Rank
TP05.L Omega Ratio Rank: 1212
Omega Ratio Rank
TP05.L Calmar Ratio Rank: 1515
Calmar Ratio Rank
TP05.L Martin Ratio Rank: 1414
Martin Ratio Rank
ERNS.L
ERNS.L Risk / Return Rank: 9999
Overall Rank
ERNS.L Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
ERNS.L Sortino Ratio Rank: 9999
Sortino Ratio Rank
ERNS.L Omega Ratio Rank: 9999
Omega Ratio Rank
ERNS.L Calmar Ratio Rank: 9999
Calmar Ratio Rank
ERNS.L Martin Ratio Rank: 9999
Martin Ratio Rank
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.

TP05.L vs. ERNS.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) (TP05.L) and iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.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.

TP05.LERNS.LDifference

Sharpe ratio

Return per unit of total volatility

0.11

5.39

-5.28

Sortino ratio

Return per unit of downside risk

0.21

9.29

-9.09

Omega ratio

Gain probability vs. loss probability

1.02

2.44

-1.41

Calmar ratio

Return relative to maximum drawdown

0.17

23.48

-23.32

Martin ratio

Return relative to average drawdown

0.32

114.06

-113.75

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TP05.L vs. ERNS.L - Sharpe Ratio Comparison

The current TP05.L Sharpe Ratio is 0.11, which is lower than the ERNS.L Sharpe Ratio of 5.39. The chart below compares the historical Sharpe Ratios of TP05.L and ERNS.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

TP05.LERNS.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.11

5.39

-5.28

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.53

4.19

-3.66

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

2.33

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.35

2.19

-1.84

Correlation

The correlation between TP05.L and ERNS.L is -0.00. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

TP05.L vs. ERNS.L - Dividend Comparison

TP05.L's dividend yield for the trailing twelve months is around 5.92%, more than ERNS.L's 5.69% yield.

TTM20252024202320222021202020192018201720162015
TP05.L
iShares USD TIPS 0-5 UCITS ETF USD (Dist)		5.92%6.05%6.89%5.27%0.34%0.35%3.26%3.36%2.92%1.05%0.00%0.00%
ERNS.L
iShares £ Ultrashort Bond UCITS ETF GBP (Dist)		5.69%4.65%5.42%4.54%1.14%0.28%0.75%1.04%0.74%0.52%0.81%0.72%

Drawdowns

TP05.L vs. ERNS.L - Drawdown Comparison

The maximum TP05.L drawdown since its inception was -15.95%, which is greater than ERNS.L's maximum drawdown of -1.51%. Use the drawdown chart below to compare losses from any high point for TP05.L and ERNS.L.

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Drawdown Indicators

TP05.LERNS.LDifference

Max Drawdown

Largest peak-to-trough decline

-15.95%

-1.51%

-14.44%

Max Drawdown (1Y)

Largest decline over 1 year

-6.66%

-0.19%

-6.47%

Max Drawdown (5Y)

Largest decline over 5 years

-15.95%

-0.36%

-15.59%

Max Drawdown (10Y)

Largest decline over 10 years

—

-1.51%

—

Current Drawdown

Current decline from peak

-4.67%

0.00%

-4.67%

Average Drawdown

Average peak-to-trough decline

-6.31%

-0.05%

-6.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.57%

0.04%

+3.53%

Volatility

TP05.L vs. ERNS.L - Volatility Comparison

iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TP05.L) has a higher volatility of 2.28% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 0.30%. This indicates that TP05.L's price experiences larger fluctuations and is considered to be riskier than ERNS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TP05.LERNS.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.28%

0.30%

+1.98%

Volatility (6M)

Calculated over the trailing 6-month period

4.45%

0.61%

+3.84%

Volatility (1Y)

Calculated over the trailing 1-year period

6.85%

0.84%

+6.01%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.07%

0.83%

+7.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.60%

0.91%

+7.69%