TP05.L vs. VEMT.L
TP05.L (iShares USD TIPS 0-5 UCITS ETF USD (Dist)) and VEMT.L (Vanguard USD Emerging Markets Government Bond UCITS ETF 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 VEMT.L is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, TP05.L returned 0.21%/yr vs 3.40%/yr for VEMT.L. A 0.71 correlation means they provide meaningful diversification when combined. TP05.L charges 0.10%/yr vs 0.25%/yr for VEMT.L.
Performance
TP05.L vs. VEMT.L - Performance Comparison
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Different Trading Currencies
TP05.L is traded in GBp, while VEMT.L is traded in GBP. To make them comparable, the VEMT.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 VEMT.L's 1.55% 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*
- —
VEMT.L
- 1D
- 0.03%
- 1M
- 1.60%
- YTD
- 1.55%
- 6M
- 1.13%
- 1Y
- 10.55%
- 3Y*
- 5.98%
- 5Y*
- 3.40%
- 10Y*
- —
TP05.L vs. VEMT.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% |
VEMT.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 1.55% | 4.07% | 8.08% | 3.44% | -5.19% | -0.56% | 2.53% | 9.67% | 2.79% | -0.82% |
Correlation
The correlation between TP05.L and VEMT.L is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since May 24, 2017 | 0.71 |
The correlation between TP05.L and VEMT.L has been stable across timeframes, ranging from 0.64 to 0.71 - a consistent structural relationship.
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Return for Risk
TP05.L vs. VEMT.L — Risk / Return Rank
TP05.L
VEMT.L
TP05.L vs. VEMT.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 USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.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 | VEMT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.75 | ||
| Sortino ratioReturn per unit of downside risk | -2.47 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.30 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 2.44 | -2.47 |
| Martin ratioReturn relative to average drawdown | -0.07 | 6.86 | -6.93 |
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 | VEMT.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.03 | 1.72 | -1.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.42 | -0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.06 | 0.30 | -0.36 |
Drawdowns
TP05.L vs. VEMT.L - Drawdown Comparison
The maximum TP05.L drawdown since its inception was -23.61%, which is greater than VEMT.L's maximum drawdown of -14.64%. Use the drawdown chart below to compare losses from any high point for TP05.L and VEMT.L.
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Drawdown Indicators
| TP05.L | VEMT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.61% | -14.64% | -8.97% |
Max Drawdown (1Y)Largest decline over 1 year | -7.76% | -4.31% | -3.45% |
Max Drawdown (3Y)Largest decline over 3 years | -15.39% | -8.59% | -6.80% |
Max Drawdown (5Y)Largest decline over 5 years | -23.61% | -11.41% | -12.20% |
Current DrawdownCurrent decline from peak | -22.31% | -0.50% | -21.81% |
Average DrawdownAverage peak-to-trough decline | -10.24% | -5.88% | -4.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.88% | 1.53% | +2.35% |
Volatility
TP05.L vs. VEMT.L - Volatility Comparison
iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TP05.L) has a higher volatility of 3.02% compared to Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.L) at 1.33%. This indicates that TP05.L's price experiences larger fluctuations and is considered to be riskier than VEMT.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 | VEMT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.02% | 1.33% | +1.69% |
Volatility (6M)Calculated over the trailing 6-month period | 5.23% | 4.50% | +0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.68% | 6.11% | +1.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.80% | 8.13% | +0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.99% | 9.15% | -0.16% |
TP05.L vs. VEMT.L - Expense Ratio Comparison
TP05.L has a 0.10% expense ratio, which is lower than VEMT.L's 0.25% 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. VEMT.L - Dividend Comparison
TP05.L's dividend yield for the trailing twelve months is around 0.06%, less than VEMT.L's 5.92% 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% |
VEMT.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.92% | 6.17% | 5.74% | 5.56% | 4.88% | 3.81% | 4.47% | 4.46% | 4.44% | 4.81% |
Frequently Asked Questions
TP05.L and VEMT.L have a correlation of 0.64, 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 0.25% for VEMT.L.
TP05.L is categorized as Inflation-Protected Bonds, while VEMT.L is Emerging Markets Bonds. TP05.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while VEMT.L tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.10% for TP05.L and 0.25% for VEMT.L.
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