UTIP.L vs. UBTS.L
UTIP.L (SPDR Bloomberg US TIPS UCITS ETF) and UBTS.L (UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis) are both Inflation-Protected Bonds funds tracking the Bloomberg Gbl Infl Linked US TIPS TR USD, from State Street and UBS respectively. Both are passively managed. Over the past 5 years, UTIP.L returned -2.60%/yr vs 3.32%/yr for UBTS.L. Their correlation of 0.93 suggests significant overlap in exposure. UTIP.L charges 0.17%/yr vs 0.15%/yr for UBTS.L.
Performance
UTIP.L vs. UBTS.L - Performance Comparison
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Different Trading Currencies
UTIP.L is traded in GBP, while UBTS.L is traded in GBp. To make them comparable, the UBTS.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 UBTS.L's 1.80% 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%
UBTS.L
- 1D
- -0.10%
- 1M
- 0.69%
- YTD
- 1.80%
- 6M
- 0.83%
- 1Y
- 5.77%
- 3Y*
- 2.02%
- 5Y*
- 3.32%
- 10Y*
- —
UTIP.L vs. UBTS.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% |
UBTS.L UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis | 1.80% | -0.11% | 4.95% | -1.59% | 3.39% | 6.97% | 4.62% | 3.52% | 5.25% | -7.29% |
Correlation
The correlation between UTIP.L and UBTS.L is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 2016 | 0.93 |
The correlation between UTIP.L and UBTS.L has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.
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Return for Risk
UTIP.L vs. UBTS.L — Risk / Return Rank
UTIP.L
UBTS.L
UTIP.L vs. UBTS.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 UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis (UBTS.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 | UBTS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.16 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 1.15 | -0.97 |
| Martin ratioReturn relative to average drawdown | 0.38 | 3.08 | -2.70 |
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 | UBTS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.17 | 0.91 | -0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.28 | 0.41 | -0.69 |
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 | 0.27 | +0.08 |
Drawdowns
UTIP.L vs. UBTS.L - Drawdown Comparison
The maximum UTIP.L drawdown since its inception was -23.72%, which is greater than UBTS.L's maximum drawdown of -15.99%. Use the drawdown chart below to compare losses from any high point for UTIP.L and UBTS.L.
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Drawdown Indicators
| UTIP.L | UBTS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.72% | -15.99% | -7.73% |
Max Drawdown (1Y)Largest decline over 1 year | -6.54% | -4.97% | -1.57% |
Max Drawdown (3Y)Largest decline over 3 years | -10.48% | -7.52% | -2.96% |
Max Drawdown (5Y)Largest decline over 5 years | -22.38% | -15.99% | -6.39% |
Max Drawdown (10Y)Largest decline over 10 years | -23.72% | — | — |
Current DrawdownCurrent decline from peak | -21.46% | -5.74% | -15.72% |
Average DrawdownAverage peak-to-trough decline | -9.04% | -6.89% | -2.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 1.87% | +1.40% |
Volatility
UTIP.L vs. UBTS.L - Volatility Comparison
SPDR Bloomberg US TIPS UCITS ETF (UTIP.L) and UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis (UBTS.L) have volatilities of 1.76% and 1.78%, 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 | UBTS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.76% | 1.78% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 4.86% | 4.63% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.14% | 6.29% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.35% | 8.15% | +1.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 118.48% | 8.68% | +109.80% |
UTIP.L vs. UBTS.L - Expense Ratio Comparison
UTIP.L has a 0.17% expense ratio, which is higher than UBTS.L's 0.15% 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. UBTS.L - Dividend Comparison
UTIP.L has not paid dividends to shareholders, while UBTS.L's dividend yield for the trailing twelve months is around 4.01%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
UBTS.L UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis | 4.01% | 3.26% | 4.42% | 4.57% | 6.66% | 2.83% | 0.84% | 2.30% | 2.38% | 1.27% |
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 UBTS.L have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UBTS.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UBTS.L is cheaper with a 0.15% expense ratio, compared with 0.17% for UTIP.L.
Both ETFs track Bloomberg Gbl Infl Linked US TIPS TR USD. They also come from different issuers: State Street and UBS. Their fees differ too: 0.17% for UTIP.L and 0.15% for UBTS.L.
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