TP05.L vs. SEML.L
TP05.L (iShares USD TIPS 0-5 UCITS ETF USD (Dist)) and SEML.L (iShares J.P. Morgan EM Local Government Bond UCITS ETF) are both exchange-traded funds - TP05.L is a Inflation-Protected Bonds fund tracking the Bloomberg Gbl Infl Linked US TIPS TR USD, while SEML.L is a Emerging Markets Bonds fund tracking the JPM GBI-EM Global Diversified TR USD. Both are passively managed. Over the past 5 years, TP05.L returned 0.21%/yr vs -3.37%/yr for SEML.L. At a 0.43 correlation, their price movements are largely independent. TP05.L charges 0.10%/yr vs 0.50%/yr for SEML.L.
Performance
TP05.L vs. SEML.L - Performance Comparison
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Different Trading Currencies
TP05.L is traded in GBp, while SEML.L is traded in GBP. To make them comparable, the SEML.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 -0.38% return, which is significantly higher than SEML.L's -3.02% return.
TP05.L
- 1D
- -0.05%
- 1M
- -1.67%
- YTD
- -0.38%
- 6M
- -1.26%
- 1Y
- -0.27%
- 3Y*
- -3.94%
- 5Y*
- 0.21%
- 10Y*
- —
SEML.L
- 1D
- 0.15%
- 1M
- 1.66%
- YTD
- -3.02%
- 6M
- -2.77%
- 1Y
- 2.87%
- 3Y*
- -1.63%
- 5Y*
- -3.37%
- 10Y*
- -2.50%
TP05.L vs. SEML.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) | -0.38% | -6.85% | -0.44% | -6.21% | 8.40% | 6.35% | -1.65% | -1.59% | 3.26% | -4.52% |
SEML.L iShares J.P. Morgan EM Local Government Bond UCITS ETF | -3.02% | 4.32% | -6.40% | 0.23% | -5.32% | -13.17% | -6.26% | 2.59% | -6.78% | -1.66% |
Correlation
The correlation between TP05.L and SEML.L is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since May 24, 2017 | 0.43 |
The correlation between TP05.L and SEML.L shifts across timeframes, from 0.27 (1 year) to 0.43 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TP05.L vs. SEML.L — Risk / Return Rank
TP05.L
SEML.L
TP05.L vs. SEML.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 J.P. Morgan EM Local Government Bond UCITS ETF (SEML.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.L | SEML.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.09 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 0.51 | -0.54 |
| Martin ratioReturn relative to average drawdown | -0.07 | 1.16 | -1.23 |
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
| TP05.L | SEML.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.03 | 0.42 | -0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | -0.40 | +0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.25 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.06 | -0.30 | +0.24 |
Drawdowns
TP05.L vs. SEML.L - Drawdown Comparison
The maximum TP05.L drawdown since its inception was -23.61%, smaller than the maximum SEML.L drawdown of -66.68%. Use the drawdown chart below to compare losses from any high point for TP05.L and SEML.L.
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Drawdown Indicators
| TP05.L | SEML.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.61% | -66.68% | +43.07% |
Max Drawdown (1Y)Largest decline over 1 year | -7.76% | -5.65% | -2.11% |
Max Drawdown (3Y)Largest decline over 3 years | -15.39% | -9.95% | -5.44% |
Max Drawdown (5Y)Largest decline over 5 years | -23.61% | -20.11% | -3.50% |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.61% | — |
Current DrawdownCurrent decline from peak | -22.31% | -65.00% | +42.69% |
Average DrawdownAverage peak-to-trough decline | -10.24% | -54.41% | +44.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.88% | 2.46% | +1.42% |
Volatility
TP05.L vs. SEML.L - Volatility Comparison
iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TP05.L) has a higher volatility of 3.02% compared to iShares J.P. Morgan EM Local Government Bond UCITS ETF (SEML.L) at 1.79%. This indicates that TP05.L's price experiences larger fluctuations and is considered to be riskier than SEML.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 | SEML.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.02% | 1.79% | +1.23% |
Volatility (6M)Calculated over the trailing 6-month period | 5.23% | 5.19% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.68% | 6.73% | +0.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.80% | 8.32% | +0.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.99% | 10.11% | -1.12% |
TP05.L vs. SEML.L - Expense Ratio Comparison
TP05.L has a 0.10% expense ratio, which is lower than SEML.L's 0.50% expense ratio.
Dividends
TP05.L vs. SEML.L - Dividend Comparison
TP05.L's dividend yield for the trailing twelve months is around 0.06%, more than SEML.L's 0.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SEML.L iShares J.P. Morgan EM Local Government Bond UCITS ETF | 0.03% | 0.05% | 0.06% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.03% |
TP05.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | 0.06% | 0.06% | 0.07% | 0.05% | 0.00% | 0.00% | 0.03% | 0.03% | 0.03% | 0.01% | 0.00% | 0.00% |
Frequently Asked Questions
TP05.L and SEML.L have a correlation of 0.27, 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 0.50% for SEML.L.
TP05.L is categorized as Inflation-Protected Bonds, while SEML.L is Emerging Markets Bonds. TP05.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while SEML.L tracks JPM GBI-EM Global Diversified TR USD. Their fees differ too: 0.10% for TP05.L and 0.50% for SEML.L.
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