TP05.L vs. TIP5.L
TP05.L (iShares USD TIPS 0-5 UCITS ETF USD (Dist)) and TIP5.L (iShares USD TIPS 0-5 UCITS ETF USD (Dist)) are both Inflation-Protected Bonds funds from iShares - TP05.L tracks the Bloomberg Gbl Infl Linked US TIPS TR USD while TIP5.L tracks the ICE U.S. Treasury Inflation Linked Bond Index 0-5. Both are passively managed. Over the past 5 years, TP05.L returned 0.21%/yr vs 4.42%/yr for TIP5.L. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.10% expense ratio.
Performance
TP05.L vs. TIP5.L - Performance Comparison
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Different Trading Currencies
TP05.L is traded in GBp, while TIP5.L is traded in USD. To make them comparable, the TIP5.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 lower than TIP5.L's 2.18% 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*
- —
TIP5.L
- 1D
- -0.01%
- 1M
- 0.94%
- YTD
- 2.18%
- 6M
- 1.36%
- 1Y
- 5.42%
- 3Y*
- 2.54%
- 5Y*
- 4.42%
- 10Y*
- —
TP05.L vs. TIP5.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% |
TIP5.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | 2.18% | -1.35% | 6.73% | -0.97% | 8.82% | 6.42% | 1.83% | 0.91% | 6.52% | -3.93% |
Correlation
The correlation between TP05.L and TIP5.L is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since May 24, 2017 | 0.79 |
The correlation between TP05.L and TIP5.L has been stable across timeframes, ranging from 0.76 to 0.79 - a consistent structural relationship.
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Return for Risk
TP05.L vs. TIP5.L — Risk / Return Rank
TP05.L
TIP5.L
TP05.L vs. TIP5.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 USD TIPS 0-5 UCITS ETF USD (Dist) (TIP5.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 | TIP5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.14 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 0.97 | -1.00 |
| Martin ratioReturn relative to average drawdown | -0.07 | 2.77 | -2.84 |
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 | TIP5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.03 | 0.81 | -0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.53 | -0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.06 | 0.33 | -0.39 |
Drawdowns
TP05.L vs. TIP5.L - Drawdown Comparison
The maximum TP05.L drawdown since its inception was -23.61%, which is greater than TIP5.L's maximum drawdown of -16.56%. Use the drawdown chart below to compare losses from any high point for TP05.L and TIP5.L.
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Drawdown Indicators
| TP05.L | TIP5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.61% | -16.56% | -7.05% |
Max Drawdown (1Y)Largest decline over 1 year | -7.76% | -5.59% | -2.17% |
Max Drawdown (3Y)Largest decline over 3 years | -15.39% | -8.61% | -6.78% |
Max Drawdown (5Y)Largest decline over 5 years | -23.61% | -16.56% | -7.05% |
Current DrawdownCurrent decline from peak | -22.31% | -5.15% | -17.16% |
Average DrawdownAverage peak-to-trough decline | -10.24% | -6.55% | -3.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.88% | 1.95% | +1.93% |
Volatility
TP05.L vs. TIP5.L - Volatility Comparison
iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TP05.L) has a higher volatility of 3.02% compared to iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TIP5.L) at 1.70%. This indicates that TP05.L's price experiences larger fluctuations and is considered to be riskier than TIP5.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 | TIP5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.02% | 1.70% | +1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 5.23% | 5.09% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.68% | 6.67% | +1.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.80% | 8.39% | +0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.99% | 8.74% | +0.25% |
TP05.L vs. TIP5.L - Expense Ratio Comparison
Both TP05.L and TIP5.L have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
TP05.L vs. TIP5.L - Dividend Comparison
TP05.L's dividend yield for the trailing twelve months is around 0.06%, less than TIP5.L's 5.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
TIP5.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | 5.81% | 5.93% | 6.97% | 5.15% | 0.34% | 0.37% | 3.00% | 3.27% | 2.99% | 1.03% |
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% |
Frequently Asked Questions
TP05.L and TIP5.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
TP05.L and TIP5.L have the same expense ratio: 0.10% per year.
TP05.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while TIP5.L tracks ICE U.S. Treasury Inflation Linked Bond Index 0-5.
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