UTIP.L vs. TIP5.L
UTIP.L (SPDR Bloomberg US TIPS UCITS ETF) and TIP5.L (iShares USD TIPS 0-5 UCITS ETF USD (Dist)) are both Inflation-Protected Bonds funds - UTIP.L tracks the Bloomberg Gbl Infl Linked US TIPS TR USD while TIP5.L tracks the ICE U.S. Treasury Inflation Linked Bond Index 0-5. Both are passively managed. Over the past 5 years, UTIP.L returned -2.60%/yr vs 4.42%/yr for TIP5.L. A 0.73 correlation means they provide meaningful diversification when combined. UTIP.L charges 0.17%/yr vs 0.10%/yr for TIP5.L.
Performance
UTIP.L vs. TIP5.L - Performance Comparison
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Different Trading Currencies
UTIP.L is traded in GBP, while TIP5.L is traded in USD. To make them comparable, the TIP5.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 TIP5.L's 2.18% 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%
TIP5.L
- 1D
- -0.01%
- 1M
- 0.94%
- YTD
- 2.18%
- 6M
- 1.36%
- 1Y
- 5.42%
- 3Y*
- 2.54%
- 5Y*
- 4.42%
- 10Y*
- —
UTIP.L vs. TIP5.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% | -3.81% |
TIP5.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | 2.18% | -1.35% | 6.73% | -0.97% | 8.82% | 6.42% | 1.83% | 0.91% | 6.52% | -3.93% |
Correlation
The correlation between UTIP.L and TIP5.L is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since May 24, 2017 | 0.73 |
The correlation between UTIP.L and TIP5.L has been stable across timeframes, ranging from 0.65 to 0.73 - a consistent structural relationship.
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Return for Risk
UTIP.L vs. TIP5.L — Risk / Return Rank
UTIP.L
TIP5.L
UTIP.L vs. TIP5.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 USD TIPS 0-5 UCITS ETF USD (Dist) (TIP5.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 | TIP5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.14 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 0.97 | -0.78 |
| Martin ratioReturn relative to average drawdown | 0.38 | 2.77 | -2.40 |
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 | TIP5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.17 | 0.81 | -0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.28 | 0.53 | -0.80 |
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 | 0.33 | +0.02 |
Drawdowns
UTIP.L vs. TIP5.L - Drawdown Comparison
The maximum UTIP.L drawdown since its inception was -23.72%, which is greater than TIP5.L's maximum drawdown of -16.56%. Use the drawdown chart below to compare losses from any high point for UTIP.L and TIP5.L.
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Drawdown Indicators
| UTIP.L | TIP5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.72% | -16.56% | -7.16% |
Max Drawdown (1Y)Largest decline over 1 year | -6.54% | -5.59% | -0.95% |
Max Drawdown (3Y)Largest decline over 3 years | -10.48% | -8.61% | -1.87% |
Max Drawdown (5Y)Largest decline over 5 years | -22.38% | -16.56% | -5.82% |
Max Drawdown (10Y)Largest decline over 10 years | -23.72% | — | — |
Current DrawdownCurrent decline from peak | -21.46% | -5.15% | -16.31% |
Average DrawdownAverage peak-to-trough decline | -9.04% | -6.55% | -2.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 1.95% | +1.32% |
Volatility
UTIP.L vs. TIP5.L - Volatility Comparison
SPDR Bloomberg US TIPS UCITS ETF (UTIP.L) and iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TIP5.L) have volatilities of 1.76% and 1.70%, 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 | TIP5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.76% | 1.70% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 4.86% | 5.09% | -0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.14% | 6.67% | +0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.35% | 8.39% | +0.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 118.48% | 8.74% | +109.74% |
UTIP.L vs. TIP5.L - Expense Ratio Comparison
UTIP.L has a 0.17% expense ratio, which is higher than TIP5.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
UTIP.L vs. TIP5.L - Dividend Comparison
UTIP.L has not paid dividends to shareholders, while TIP5.L's dividend yield for the trailing twelve months is around 5.81%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
TIP5.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | 5.81% | 5.93% | 6.97% | 5.15% | 0.34% | 0.37% | 3.00% | 3.27% | 2.99% | 1.03% |
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 TIP5.L have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TIP5.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TIP5.L is cheaper with a 0.10% expense ratio, compared with 0.17% for UTIP.L.
UTIP.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while TIP5.L tracks ICE U.S. Treasury Inflation Linked Bond Index 0-5. They also come from different issuers: State Street and iShares. Their fees differ too: 0.17% for UTIP.L and 0.10% for TIP5.L.
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