TP05.L vs. IBCI.L
TP05.L (iShares USD TIPS 0-5 UCITS ETF USD (Dist)) and IBCI.L (iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc)) are both Inflation-Protected Bonds funds from iShares - TP05.L tracks the Bloomberg Gbl Infl Linked US TIPS TR USD while IBCI.L tracks the BBG Euro Government Inflation-Linked Bond Index (EUR). Both are passively managed. Over the past 5 years, TP05.L returned 3.54%/yr vs 0.31%/yr for IBCI.L. At a 0.39 correlation, their price movements are largely independent. TP05.L charges 0.10%/yr vs 0.09%/yr for IBCI.L.
Performance
TP05.L vs. IBCI.L - Performance Comparison
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Different Trading Currencies
TP05.L is traded in GBp, while IBCI.L is traded in GBP. To make them comparable, the IBCI.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 2.09% return, which is significantly higher than IBCI.L's -0.01% return.
TP05.L
- 1D
- 0.28%
- 1M
- -0.41%
- 6M
- 1.44%
- YTD
- 2.09%
- 1Y
- 3.34%
- 3Y*
- 3.89%
- 5Y*
- 3.54%
- 10Y*
- —
IBCI.L
- 1D
- 0.32%
- 1M
- -2.22%
- 6M
- -0.13%
- YTD
- -0.01%
- 1Y
- 1.23%
- 3Y*
- 1.51%
- 5Y*
- 0.31%
- 10Y*
- 1.54%
TP05.L vs. IBCI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TP05.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | 2.09% | -1.22% | 5.72% | -1.34% | 8.77% | 6.75% | 1.37% | 1.64% | 3.23% | -26.73% |
IBCI.L iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) | -0.01% | 6.03% | -4.55% | 3.48% | -4.33% | -0.79% | 8.45% | 1.18% | -1.05% | 10.38% |
Correlation
The correlation between TP05.L and IBCI.L is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2017 | 0.39 |
Over the past year, the correlation between TP05.L and IBCI.L has dropped to 0.15 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.
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Return for Risk
TP05.L vs. IBCI.L — Risk / Return Rank
TP05.L
IBCI.L
TP05.L vs. IBCI.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 € Inflation Linked Govt Bond UCITS ETF EUR (Acc) (IBCI.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.
| TP05.L | IBCI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.04 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.67 | 0.37 | +0.31 |
| Martin ratioReturn relative to average drawdown | 1.85 | 0.80 | +1.05 |
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Drawdowns
TP05.L vs. IBCI.L - Drawdown Comparison
The maximum TP05.L drawdown since its inception was -30.62%, roughly equal to the maximum IBCI.L drawdown of -30.47%. Use the drawdown chart below to compare losses from any high point for TP05.L and IBCI.L.
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Drawdown Indicators
| TP05.L | IBCI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.62% | -30.47% | -0.15% |
Max Drawdown (1Y)Largest decline over 1 year | -4.93% | -3.33% | -1.60% |
Max Drawdown (3Y)Largest decline over 3 years | -8.54% | -14.28% | +5.74% |
Max Drawdown (5Y)Largest decline over 5 years | -15.95% | -14.28% | -1.67% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.53% | — |
Current DrawdownCurrent decline from peak | -5.43% | -8.52% | +3.09% |
Average DrawdownAverage peak-to-trough decline | -15.83% | -10.76% | -5.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 1.54% | +0.26% |
Volatility
TP05.L vs. IBCI.L - Volatility Comparison
The current volatility for iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TP05.L) is 1.21%, while iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) (IBCI.L) has a volatility of 1.41%. This indicates that TP05.L experiences smaller price fluctuations and is considered to be less risky than IBCI.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.L | IBCI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 1.41% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 5.57% | 3.72% | +1.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.95% | 4.90% | +2.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.39% | 11.49% | -3.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.24% | 11.76% | -0.52% |
TP05.L vs. IBCI.L - Expense Ratio Comparison
TP05.L has a 0.10% expense ratio, which is higher than IBCI.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%.
Dividends
TP05.L vs. IBCI.L - Dividend Comparison
TP05.L's dividend yield for the trailing twelve months is around 5.88%, while IBCI.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IBCI.L iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TP05.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | 5.88% | 6.05% | 6.10% | 5.27% | 0.34% | 0.36% | 3.26% | 3.36% |
Frequently Asked Questions
TP05.L and IBCI.L have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBCI.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBCI.L is cheaper with a 0.09% expense ratio, compared with 0.10% for TP05.L.
TP05.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while IBCI.L tracks BBG Euro Government Inflation-Linked Bond Index (EUR). Their fees differ too: 0.10% for TP05.L and 0.09% for IBCI.L.
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