UTIP.L vs. GILE.L
UTIP.L (SPDR Bloomberg US TIPS UCITS ETF) and GILE.L (iShares Global Inflation Linked Government Bond EUR Hedged UCITS ETF (Dist)) are both Inflation-Protected Bonds funds - UTIP.L tracks the Bloomberg Gbl Infl Linked US TIPS TR USD while GILE.L tracks the Bloomberg Gbl Infl Linked TR Hdg EUR. Both are passively managed. Over the past 5 years, UTIP.L returned -2.60%/yr vs -2.55%/yr for GILE.L. A 0.51 correlation means they provide meaningful diversification when combined. UTIP.L charges 0.17%/yr vs 0.20%/yr for GILE.L.
Performance
UTIP.L vs. GILE.L - Performance Comparison
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Different Trading Currencies
UTIP.L is traded in GBP, while GILE.L is traded in EUR. To make them comparable, the GILE.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, UTIP.L achieves a -0.61% return, which is significantly lower than GILE.L's 0.03% return.
UTIP.L
- 1D
- 0.00%
- 1M
- 0.96%
- YTD
- -0.61%
- 6M
- -1.42%
- 1Y
- 1.23%
- 3Y*
- -2.70%
- 5Y*
- -2.60%
- 10Y*
- 41.75%
GILE.L
- 1D
- 0.14%
- 1M
- 0.37%
- YTD
- 0.03%
- 6M
- -0.55%
- 1Y
- 4.95%
- 3Y*
- 1.05%
- 5Y*
- -2.55%
- 10Y*
- —
UTIP.L vs. GILE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UTIP.L SPDR Bloomberg US TIPS UCITS ETF | -0.61% | -3.83% | -0.45% | -6.33% | -8.86% | 4.03% | 279.51% | 55.61% | 265.06% | 0.13% |
GILE.L iShares Global Inflation Linked Government Bond EUR Hedged UCITS ETF (Dist) | 0.03% | 7.76% | -6.57% | -0.11% | -14.94% | -1.55% | 13.63% | -0.20% | -1.86% | 2.12% |
Correlation
The correlation between UTIP.L and GILE.L is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2017 | 0.51 |
Over the past year, the correlation between UTIP.L and GILE.L has dropped to 0.27 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.
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Return for Risk
UTIP.L vs. GILE.L — Risk / Return Rank
UTIP.L
GILE.L
UTIP.L vs. GILE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg US TIPS UCITS ETF (UTIP.L) and iShares Global Inflation Linked Government Bond EUR Hedged UCITS ETF (Dist) (GILE.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.
| UTIP.L | GILE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.15 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 1.35 | -1.16 |
| Martin ratioReturn relative to average drawdown | 0.38 | 3.02 | -2.65 |
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
| UTIP.L | GILE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.17 | 0.84 | -0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.28 | -0.28 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | -0.05 | +0.40 |
Drawdowns
UTIP.L vs. GILE.L - Drawdown Comparison
The maximum UTIP.L drawdown since its inception was -23.72%, roughly equal to the maximum GILE.L drawdown of -24.31%. Use the drawdown chart below to compare losses from any high point for UTIP.L and GILE.L.
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Drawdown Indicators
| UTIP.L | GILE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.72% | -24.31% | +0.59% |
Max Drawdown (1Y)Largest decline over 1 year | -6.54% | -3.66% | -2.88% |
Max Drawdown (3Y)Largest decline over 3 years | -10.48% | -7.85% | -2.63% |
Max Drawdown (5Y)Largest decline over 5 years | -22.38% | -23.71% | +1.33% |
Max Drawdown (10Y)Largest decline over 10 years | -23.72% | — | — |
Current DrawdownCurrent decline from peak | -21.46% | -17.96% | -3.50% |
Average DrawdownAverage peak-to-trough decline | -9.04% | -11.49% | +2.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 1.63% | +1.64% |
Volatility
UTIP.L vs. GILE.L - Volatility Comparison
SPDR Bloomberg US TIPS UCITS ETF (UTIP.L) and iShares Global Inflation Linked Government Bond EUR Hedged UCITS ETF (Dist) (GILE.L) have volatilities of 1.76% and 1.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UTIP.L | GILE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.76% | 1.68% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 4.86% | 4.09% | +0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.14% | 5.90% | +1.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.35% | 8.98% | +0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 118.48% | 9.29% | +109.19% |
UTIP.L vs. GILE.L - Expense Ratio Comparison
UTIP.L has a 0.17% expense ratio, which is lower than GILE.L's 0.20% 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
UTIP.L vs. GILE.L - Dividend Comparison
UTIP.L has not paid dividends to shareholders, while GILE.L's dividend yield for the trailing twelve months is around 1.14%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GILE.L iShares Global Inflation Linked Government Bond EUR Hedged UCITS ETF (Dist) | 1.14% | 1.11% | 1.05% | 0.91% | 0.86% | 0.69% | 1.12% | 2.13% | 0.41% | 0.00% |
UTIP.L SPDR Bloomberg US TIPS UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 69.04% | 31.90% | 67.27% | 43.97% |
Frequently Asked Questions
UTIP.L and GILE.L have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UTIP.L is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UTIP.L is cheaper with a 0.17% expense ratio, compared with 0.20% for GILE.L.
UTIP.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while GILE.L tracks Bloomberg Gbl Infl Linked TR Hdg EUR. They also come from different issuers: State Street and iShares. Their fees differ too: 0.17% for UTIP.L and 0.20% for GILE.L.
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