TP05.L vs. VAGP.L
TP05.L (iShares USD TIPS 0-5 UCITS ETF USD (Dist)) and VAGP.L (Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing) are both exchange-traded funds - TP05.L is a Inflation-Protected Bonds fund tracking the Bloomberg Gbl Infl Linked US TIPS TR USD, while VAGP.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg GBP. Both are passively managed. Over the past 5 years, TP05.L returned 0.21%/yr vs -0.24%/yr for VAGP.L. At a correlation of -0.06, they often move in opposite directions. Both charge a 0.10% expense ratio.
Performance
TP05.L vs. VAGP.L - Performance Comparison
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Different Trading Currencies
TP05.L is traded in GBp, while VAGP.L is traded in GBP. To make them comparable, the VAGP.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 VAGP.L's 0.19% 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*
- —
VAGP.L
- 1D
- 0.29%
- 1M
- 0.35%
- YTD
- 0.19%
- 6M
- 0.36%
- 1Y
- 3.24%
- 3Y*
- 3.74%
- 5Y*
- -0.24%
- 10Y*
- —
TP05.L vs. VAGP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% | -4.41% |
VAGP.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing | 0.19% | 4.96% | 2.51% | 5.84% | -13.81% | -2.03% | 5.31% | 2.30% |
Correlation
The correlation between TP05.L and VAGP.L is -0.29, 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 | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2019 | -0.06 |
Over the past year, the inverse relationship between TP05.L and VAGP.L has strengthened: their correlation has moved from -0.06 to -0.29, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
TP05.L vs. VAGP.L — Risk / Return Rank
TP05.L
VAGP.L
TP05.L vs. VAGP.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 Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing (VAGP.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 | VAGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.00 | ||
| Sortino ratioReturn per unit of downside risk | -1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.17 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 1.15 | -1.19 |
| Martin ratioReturn relative to average drawdown | -0.07 | 3.41 | -3.48 |
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 | VAGP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.03 | 0.97 | -1.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | -0.05 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.06 | 0.12 | -0.18 |
Drawdowns
TP05.L vs. VAGP.L - Drawdown Comparison
The maximum TP05.L drawdown since its inception was -23.61%, which is greater than VAGP.L's maximum drawdown of -18.13%. Use the drawdown chart below to compare losses from any high point for TP05.L and VAGP.L.
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Drawdown Indicators
| TP05.L | VAGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.61% | -18.13% | -5.48% |
Max Drawdown (1Y)Largest decline over 1 year | -7.76% | -2.80% | -4.96% |
Max Drawdown (3Y)Largest decline over 3 years | -15.39% | -4.04% | -11.35% |
Max Drawdown (5Y)Largest decline over 5 years | -23.61% | -17.70% | -5.91% |
Current DrawdownCurrent decline from peak | -22.31% | -3.76% | -18.55% |
Average DrawdownAverage peak-to-trough decline | -10.24% | -6.70% | -3.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.88% | 0.95% | +2.93% |
Volatility
TP05.L vs. VAGP.L - Volatility Comparison
iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TP05.L) has a higher volatility of 3.02% compared to Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing (VAGP.L) at 1.43%. This indicates that TP05.L's price experiences larger fluctuations and is considered to be riskier than VAGP.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 | VAGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.02% | 1.43% | +1.59% |
Volatility (6M)Calculated over the trailing 6-month period | 5.23% | 2.79% | +2.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.68% | 3.35% | +4.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.80% | 4.78% | +4.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.99% | 4.50% | +4.49% |
TP05.L vs. VAGP.L - Expense Ratio Comparison
Both TP05.L and VAGP.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. VAGP.L - Dividend Comparison
TP05.L's dividend yield for the trailing twelve months is around 0.06%, less than VAGP.L's 3.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
VAGP.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing | 3.55% | 3.50% | 3.08% | 2.37% | 1.46% | 0.86% | 1.21% | 0.59% | 0.00% | 0.00% |
Frequently Asked Questions
TP05.L and VAGP.L have a correlation of -0.29, 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 VAGP.L have the same expense ratio: 0.10% per year.
TP05.L is categorized as Inflation-Protected Bonds, while VAGP.L is Global Bonds. TP05.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while VAGP.L tracks Bloomberg Global Aggregate TR Hdg GBP. They also come from different issuers: iShares and Vanguard.
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