UBTL.L vs. TP05.L
UBTL.L (UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis) and TP05.L (iShares USD TIPS 0-5 UCITS ETF USD (Dist)) are both Inflation-Protected Bonds funds tracking the Bloomberg Gbl Infl Linked US TIPS TR USD, from UBS and iShares respectively. Both are passively managed. Over the past 5 years, UBTL.L returned -4.40%/yr vs 0.21%/yr for TP05.L. A 0.51 correlation means they provide meaningful diversification when combined. UBTL.L charges 0.20%/yr vs 0.10%/yr for TP05.L.
Performance
UBTL.L vs. TP05.L - Performance Comparison
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Returns By Period
In the year-to-date period, UBTL.L achieves a -0.05% return, which is significantly higher than TP05.L's -0.38% return.
UBTL.L
- 1D
- 0.19%
- 1M
- 1.78%
- YTD
- -0.05%
- 6M
- -1.17%
- 1Y
- 5.11%
- 3Y*
- -3.66%
- 5Y*
- -4.40%
- 10Y*
- —
TP05.L
- 1D
- -0.05%
- 1M
- -1.67%
- YTD
- -0.38%
- 6M
- -1.26%
- 1Y
- -0.27%
- 3Y*
- -3.94%
- 5Y*
- 0.21%
- 10Y*
- —
UBTL.L vs. TP05.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UBTL.L UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis | -0.05% | -2.86% | -3.20% | -5.34% | -24.00% | 9.31% | 19.40% | 13.92% | 0.17% | 0.20% |
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% |
Correlation
The correlation between UBTL.L and TP05.L is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since May 24, 2017 | 0.51 |
The correlation between UBTL.L and TP05.L shifts across timeframes, from 0.35 (3 years) to 0.51 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UBTL.L vs. TP05.L — Risk / Return Rank
UBTL.L
TP05.L
UBTL.L vs. TP05.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis (UBTL.L) and iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TP05.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.
| UBTL.L | TP05.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.00 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.64 | -0.03 | +0.68 |
| Martin ratioReturn relative to average drawdown | 1.25 | -0.07 | +1.31 |
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
| UBTL.L | TP05.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.54 | -0.03 | +0.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.29 | 0.02 | -0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.01 | -0.06 | +0.05 |
Drawdowns
UBTL.L vs. TP05.L - Drawdown Comparison
The maximum UBTL.L drawdown since its inception was -38.66%, which is greater than TP05.L's maximum drawdown of -23.61%. Use the drawdown chart below to compare losses from any high point for UBTL.L and TP05.L.
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Drawdown Indicators
| UBTL.L | TP05.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.66% | -23.61% | -15.05% |
Max Drawdown (1Y)Largest decline over 1 year | -7.89% | -7.76% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -16.30% | -15.39% | -0.91% |
Max Drawdown (5Y)Largest decline over 5 years | -38.66% | -23.61% | -15.05% |
Current DrawdownCurrent decline from peak | -34.41% | -22.31% | -12.10% |
Average DrawdownAverage peak-to-trough decline | -16.79% | -10.24% | -6.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.09% | 3.88% | +0.21% |
Volatility
UBTL.L vs. TP05.L - Volatility Comparison
The current volatility for UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis (UBTL.L) is 2.36%, while iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TP05.L) has a volatility of 3.02%. This indicates that UBTL.L experiences smaller price fluctuations and is considered to be less risky than TP05.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UBTL.L | TP05.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 3.02% | -0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 6.17% | 5.23% | +0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.40% | 7.68% | +1.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.23% | 8.80% | +6.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.34% | 8.99% | +6.35% |
UBTL.L vs. TP05.L - Expense Ratio Comparison
UBTL.L has a 0.20% expense ratio, which is higher than TP05.L's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
UBTL.L vs. TP05.L - Dividend Comparison
UBTL.L's dividend yield for the trailing twelve months is around 6.15%, more than TP05.L's 0.06% 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% |
UBTL.L UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis | 6.15% | 5.34% | 5.57% | 6.49% | 8.27% | 2.56% | 0.73% | 2.60% | 2.29% | 1.99% |
Frequently Asked Questions
UBTL.L and TP05.L have a correlation of 0.37, 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 0.20% for UBTL.L.
Both ETFs track Bloomberg Gbl Infl Linked US TIPS TR USD. They also come from different issuers: UBS and iShares. Their fees differ too: 0.20% for UBTL.L and 0.10% for TP05.L.
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