UBTS.L vs. ITPG.L
UBTS.L (UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis) and ITPG.L (iShares $ TIPS UCITS ETF GBP Hedged (Dist)) are both Inflation-Protected Bonds funds - UBTS.L tracks the Bloomberg Gbl Infl Linked US TIPS TR USD while ITPG.L tracks the BBG US Government Inflation-Linked Bond Index (USD). Both are passively managed. Over the past 5 years, UBTS.L returned 2.45%/yr vs -0.13%/yr for ITPG.L. At a 0.18 correlation, their price movements are largely independent. UBTS.L charges 0.15%/yr vs 0.12%/yr for ITPG.L.
Performance
UBTS.L vs. ITPG.L - Performance Comparison
Loading charts...
Different Trading Currencies
UBTS.L is traded in GBp, while ITPG.L is traded in GBP. To make them comparable, the ITPG.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, UBTS.L achieves a 1.47% return, which is significantly higher than ITPG.L's 0.96% return.
UBTS.L
- 1D
- 0.34%
- 1M
- -0.56%
- 6M
- 0.87%
- YTD
- 1.47%
- 1Y
- 3.00%
- 3Y*
- 3.67%
- 5Y*
- 2.45%
- 10Y*
- —
ITPG.L
- 1D
- 0.00%
- 1M
- -0.42%
- 6M
- 0.75%
- YTD
- 0.96%
- 1Y
- 2.96%
- 3Y*
- 3.32%
- 5Y*
- -0.13%
- 10Y*
- —
UBTS.L vs. ITPG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
UBTS.L UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis | 1.47% | -0.11% | 4.94% | -1.60% | 3.40% | 6.97% | 4.62% | 3.52% | 8.29% |
ITPG.L iShares $ TIPS UCITS ETF GBP Hedged (Dist) | 0.96% | 6.20% | 1.89% | 2.58% | -13.77% | 6.17% | 10.05% | 6.89% | -1.16% |
Correlation
The correlation between UBTS.L and ITPG.L is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2018 | 0.18 |
The correlation between UBTS.L and ITPG.L shifts across timeframes, from 0.04 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
UBTS.L vs. ITPG.L — Risk / Return Rank
UBTS.L
ITPG.L
UBTS.L vs. ITPG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis (UBTS.L) and iShares $ TIPS UCITS ETF GBP Hedged (Dist) (ITPG.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| UBTS.L | ITPG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.13 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.60 | 1.60 | -0.99 |
| Martin ratioReturn relative to average drawdown | 1.58 | 3.86 | -2.27 |
Loading charts...
Drawdowns
UBTS.L vs. ITPG.L - Drawdown Comparison
The maximum UBTS.L drawdown since its inception was -30.43%, which is greater than ITPG.L's maximum drawdown of -16.78%. Use the drawdown chart below to compare losses from any high point for UBTS.L and ITPG.L.
Loading charts...
Drawdown Indicators
| UBTS.L | ITPG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.43% | -16.78% | -13.65% |
Max Drawdown (1Y)Largest decline over 1 year | -4.97% | -1.85% | -3.12% |
Max Drawdown (3Y)Largest decline over 3 years | -7.52% | -4.74% | -2.78% |
Max Drawdown (5Y)Largest decline over 5 years | -16.00% | -16.78% | +0.78% |
Current DrawdownCurrent decline from peak | -6.06% | -3.83% | -2.23% |
Average DrawdownAverage peak-to-trough decline | -13.94% | -5.43% | -8.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 0.77% | +1.12% |
Volatility
UBTS.L vs. ITPG.L - Volatility Comparison
UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis (UBTS.L) has a higher volatility of 1.24% compared to iShares $ TIPS UCITS ETF GBP Hedged (Dist) (ITPG.L) at 0.98%. This indicates that UBTS.L's price experiences larger fluctuations and is considered to be riskier than ITPG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| UBTS.L | ITPG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 0.98% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 4.59% | 2.83% | +1.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.12% | 4.39% | +1.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.13% | 6.38% | +1.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.61% | 6.35% | +4.26% |
UBTS.L vs. ITPG.L - Expense Ratio Comparison
UBTS.L has a 0.15% expense ratio, which is higher than ITPG.L's 0.12% 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
UBTS.L vs. ITPG.L - Dividend Comparison
UBTS.L's dividend yield for the trailing twelve months is around 4.02%, less than ITPG.L's 4.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ITPG.L iShares $ TIPS UCITS ETF GBP Hedged (Dist) | 4.66% | 4.56% | 4.62% | 1.50% | 1.24% | 1.09% | 2.03% | 2.79% | 1.92% | 0.00% |
UBTS.L UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis | 4.02% | 3.26% | 4.41% | 4.56% | 6.66% | 2.83% | 0.84% | 2.30% | 2.38% | 1.27% |
Frequently Asked Questions
UBTS.L and ITPG.L have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ITPG.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ITPG.L is cheaper with a 0.12% expense ratio, compared with 0.15% for UBTS.L.
UBTS.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while ITPG.L tracks BBG US Government Inflation-Linked Bond Index (USD). They also come from different issuers: UBS and iShares. Their fees differ too: 0.15% for UBTS.L and 0.12% for ITPG.L.
Find the right allocation for UBTS.L and ITPG.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer