UTIP.L vs. IGIL.L
UTIP.L (SPDR Bloomberg US TIPS UCITS ETF) and IGIL.L (iShares Global Inflation Linked Govt Bond UCITS ETF USD Acc) are both Inflation-Protected Bonds funds - UTIP.L tracks the Bloomberg Gbl Infl Linked US TIPS TR USD while IGIL.L tracks the Bloomberg World Government Inflation-Linked Bond Index. Both are passively managed. Over the past 10 years, UTIP.L returned 41.75%/yr vs 1.78%/yr for IGIL.L. A 0.59 correlation means they provide meaningful diversification when combined. UTIP.L charges 0.17%/yr vs 0.20%/yr for IGIL.L.
Performance
UTIP.L vs. IGIL.L - Performance Comparison
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Different Trading Currencies
UTIP.L is traded in GBP, while IGIL.L is traded in USD. To make them comparable, the IGIL.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 IGIL.L's 1.38% return. Over the past 10 years, UTIP.L has outperformed IGIL.L with an annualized return of 41.75%, while IGIL.L has yielded a comparatively lower 1.78% annualized 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%
IGIL.L
- 1D
- 0.08%
- 1M
- 0.64%
- YTD
- 1.38%
- 6M
- 0.32%
- 1Y
- 4.81%
- 3Y*
- 0.68%
- 5Y*
- -1.21%
- 10Y*
- 1.78%
UTIP.L vs. IGIL.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% | 56.18% |
IGIL.L iShares Global Inflation Linked Govt Bond UCITS ETF USD Acc | 1.38% | 0.72% | -1.23% | -0.17% | -12.55% | 3.91% | 8.92% | 3.71% | 1.68% | -0.94% |
Correlation
The correlation between UTIP.L and IGIL.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2015 | 0.59 |
Over the past year, the correlation between UTIP.L and IGIL.L has dropped to 0.33 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.
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Return for Risk
UTIP.L vs. IGIL.L — Risk / Return Rank
UTIP.L
IGIL.L
UTIP.L vs. IGIL.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 Govt Bond UCITS ETF USD Acc (IGIL.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 | IGIL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.14 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 1.28 | -1.09 |
| Martin ratioReturn relative to average drawdown | 0.38 | 2.93 | -2.56 |
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 | IGIL.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.17 | 0.79 | -0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.28 | -0.13 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.18 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.40 | -0.05 |
Drawdowns
UTIP.L vs. IGIL.L - Drawdown Comparison
The maximum UTIP.L drawdown since its inception was -23.72%, which is greater than IGIL.L's maximum drawdown of -20.30%. Use the drawdown chart below to compare losses from any high point for UTIP.L and IGIL.L.
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Drawdown Indicators
| UTIP.L | IGIL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.72% | -20.30% | -3.42% |
Max Drawdown (1Y)Largest decline over 1 year | -6.54% | -3.74% | -2.80% |
Max Drawdown (3Y)Largest decline over 3 years | -10.48% | -5.89% | -4.59% |
Max Drawdown (5Y)Largest decline over 5 years | -22.38% | -20.30% | -2.08% |
Max Drawdown (10Y)Largest decline over 10 years | -23.72% | -20.30% | -3.42% |
Current DrawdownCurrent decline from peak | -21.46% | -14.84% | -6.62% |
Average DrawdownAverage peak-to-trough decline | -9.04% | -7.16% | -1.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 1.64% | +1.63% |
Volatility
UTIP.L vs. IGIL.L - Volatility Comparison
SPDR Bloomberg US TIPS UCITS ETF (UTIP.L) has a higher volatility of 1.76% compared to iShares Global Inflation Linked Govt Bond UCITS ETF USD Acc (IGIL.L) at 1.61%. This indicates that UTIP.L's price experiences larger fluctuations and is considered to be riskier than IGIL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UTIP.L | IGIL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.76% | 1.61% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 4.86% | 4.98% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.14% | 6.07% | +1.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.35% | 9.34% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 118.48% | 10.00% | +108.48% |
UTIP.L vs. IGIL.L - Expense Ratio Comparison
UTIP.L has a 0.17% expense ratio, which is lower than IGIL.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. IGIL.L - Dividend Comparison
Neither UTIP.L nor IGIL.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IGIL.L iShares Global Inflation Linked Govt Bond UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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 IGIL.L have a correlation of 0.33, 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 IGIL.L.
UTIP.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while IGIL.L tracks Bloomberg World Government Inflation-Linked Bond Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.17% for UTIP.L and 0.20% for IGIL.L.
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