TP05.L vs. ITPG.L
TP05.L (iShares USD TIPS 0-5 UCITS ETF USD (Dist)) and ITPG.L (iShares $ TIPS UCITS ETF GBP Hedged (Dist)) are both Inflation-Protected Bonds funds from iShares - TP05.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, TP05.L returned 3.54%/yr vs -0.13%/yr for ITPG.L. At a 0.02 correlation, their price movements are largely independent. TP05.L charges 0.10%/yr vs 0.12%/yr for ITPG.L.
Performance
TP05.L vs. ITPG.L - Performance Comparison
Loading charts...
Different Trading Currencies
TP05.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, TP05.L achieves a 2.09% return, which is significantly higher than ITPG.L's 0.96% 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*
- —
ITPG.L
- 1D
- 0.00%
- 1M
- -0.42%
- 6M
- 0.75%
- YTD
- 0.96%
- 1Y
- 2.96%
- 3Y*
- 3.32%
- 5Y*
- -0.13%
- 10Y*
- —
TP05.L vs. ITPG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | 5.34% |
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 TP05.L and ITPG.L is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2018 | 0.02 |
The correlation between TP05.L and ITPG.L shifts across timeframes, from -0.10 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TP05.L vs. ITPG.L — Risk / Return Rank
TP05.L
ITPG.L
TP05.L vs. ITPG.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 $ 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.
| TP05.L | ITPG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.13 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.67 | 1.60 | -0.92 |
| Martin ratioReturn relative to average drawdown | 1.85 | 3.86 | -2.01 |
Loading charts...
Drawdowns
TP05.L vs. ITPG.L - Drawdown Comparison
The maximum TP05.L drawdown since its inception was -30.62%, 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 TP05.L and ITPG.L.
Loading charts...
Drawdown Indicators
| TP05.L | ITPG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.62% | -16.78% | -13.84% |
Max Drawdown (1Y)Largest decline over 1 year | -4.93% | -1.85% | -3.08% |
Max Drawdown (3Y)Largest decline over 3 years | -8.54% | -4.74% | -3.80% |
Max Drawdown (5Y)Largest decline over 5 years | -15.95% | -16.78% | +0.83% |
Current DrawdownCurrent decline from peak | -5.43% | -3.83% | -1.60% |
Average DrawdownAverage peak-to-trough decline | -15.83% | -5.43% | -10.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 0.77% | +1.03% |
Volatility
TP05.L vs. ITPG.L - Volatility Comparison
iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TP05.L) has a higher volatility of 1.21% compared to iShares $ TIPS UCITS ETF GBP Hedged (Dist) (ITPG.L) at 0.98%. This indicates that TP05.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.
Loading charts...
Volatility by Period
| TP05.L | ITPG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 0.98% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 5.57% | 2.83% | +2.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.95% | 4.39% | +2.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.39% | 6.38% | +2.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.24% | 6.35% | +4.89% |
TP05.L vs. ITPG.L - Expense Ratio Comparison
TP05.L has a 0.10% 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
TP05.L vs. ITPG.L - Dividend Comparison
TP05.L's dividend yield for the trailing twelve months is around 5.88%, more than ITPG.L's 4.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
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% | 0.00% |
Frequently Asked Questions
TP05.L and ITPG.L have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TP05.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TP05.L is cheaper with a 0.10% expense ratio, compared with 0.12% for ITPG.L.
TP05.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while ITPG.L tracks BBG US Government Inflation-Linked Bond Index (USD). Their fees differ too: 0.10% for TP05.L and 0.12% for ITPG.L.
Find the right allocation for TP05.L and ITPG.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer