VUTY.L vs. TP05.L
VUTY.L (Vanguard USD Treasury Bond UCITS ETF Distributing) and TP05.L (iShares USD TIPS 0-5 UCITS ETF USD (Dist)) are both exchange-traded funds - VUTY.L is a Government Bonds fund tracking the Bloomberg Global Aggregate US Treasury Float Adjusted Index, while TP05.L is a Inflation-Protected Bonds fund tracking the Bloomberg Gbl Infl Linked US TIPS TR USD. Both are passively managed. Over the past 5 years, VUTY.L returned 0.61%/yr vs 0.21%/yr for TP05.L. Their correlation of 0.85 suggests significant overlap in exposure. VUTY.L charges 0.05%/yr vs 0.10%/yr for TP05.L.
Performance
VUTY.L vs. TP05.L - Performance Comparison
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Different Trading Currencies
VUTY.L is traded in GBP, while TP05.L is traded in GBp. To make them comparable, the TP05.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VUTY.L achieves a -0.16% return, which is significantly higher than TP05.L's -0.38% return.
VUTY.L
- 1D
- 0.07%
- 1M
- 0.78%
- YTD
- -0.16%
- 6M
- -0.78%
- 1Y
- 4.55%
- 3Y*
- 0.23%
- 5Y*
- 0.61%
- 10Y*
- 1.68%
TP05.L
- 1D
- -0.05%
- 1M
- -1.67%
- YTD
- -0.38%
- 6M
- -1.26%
- 1Y
- -0.27%
- 3Y*
- -3.94%
- 5Y*
- 0.21%
- 10Y*
- —
VUTY.L vs. TP05.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VUTY.L Vanguard USD Treasury Bond UCITS ETF Distributing | -0.16% | -1.13% | 2.55% | -1.94% | -1.87% | -1.11% | 3.99% | 3.70% | 6.64% | -3.24% |
TP05.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | -0.38% | -6.85% | -0.44% | -6.21% | 8.40% | 6.35% | -1.65% | -1.59% | 3.26% | -4.52% |
Correlation
The correlation between VUTY.L and TP05.L is 0.82, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since May 24, 2017 | 0.85 |
The correlation between VUTY.L and TP05.L has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.
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Return for Risk
VUTY.L vs. TP05.L — Risk / Return Rank
VUTY.L
TP05.L
VUTY.L vs. TP05.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Treasury Bond UCITS ETF Distributing (VUTY.L) and iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TP05.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.
| VUTY.L | TP05.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.00 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | -0.03 | +0.86 |
| Martin ratioReturn relative to average drawdown | 1.98 | -0.07 | +2.05 |
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
| VUTY.L | TP05.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.73 | -0.03 | +0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | 0.02 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | -0.06 | +0.18 |
Drawdowns
VUTY.L vs. TP05.L - Drawdown Comparison
The maximum VUTY.L drawdown since its inception was -22.63%, roughly equal to the maximum TP05.L drawdown of -23.61%. Use the drawdown chart below to compare losses from any high point for VUTY.L and TP05.L.
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Drawdown Indicators
| VUTY.L | TP05.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.63% | -23.61% | +0.98% |
Max Drawdown (1Y)Largest decline over 1 year | -5.25% | -7.76% | +2.51% |
Max Drawdown (3Y)Largest decline over 3 years | -8.27% | -15.39% | +7.12% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | -23.61% | +7.44% |
Max Drawdown (10Y)Largest decline over 10 years | -22.63% | — | — |
Current DrawdownCurrent decline from peak | -17.85% | -22.31% | +4.46% |
Average DrawdownAverage peak-to-trough decline | -12.63% | -10.24% | -2.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 3.88% | -1.68% |
Volatility
VUTY.L vs. TP05.L - Volatility Comparison
The current volatility for Vanguard USD Treasury Bond UCITS ETF Distributing (VUTY.L) is 1.43%, while iShares USD TIPS 0-5 UCITS ETF USD (Dist) (TP05.L) has a volatility of 3.02%. This indicates that VUTY.L experiences smaller price fluctuations and is considered to be less risky than TP05.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VUTY.L | TP05.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.43% | 3.02% | -1.59% |
Volatility (6M)Calculated over the trailing 6-month period | 4.36% | 5.23% | -0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.96% | 7.68% | -1.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.71% | 8.80% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.00% | 8.99% | +1.01% |
VUTY.L vs. TP05.L - Expense Ratio Comparison
VUTY.L has a 0.05% expense ratio, which is lower than TP05.L's 0.10% 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
VUTY.L vs. TP05.L - Dividend Comparison
VUTY.L's dividend yield for the trailing twelve months is around 4.27%, more than TP05.L's 0.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
TP05.L iShares USD TIPS 0-5 UCITS ETF USD (Dist) | 0.06% | 0.06% | 0.07% | 0.05% | 0.00% | 0.00% | 0.03% | 0.03% | 0.03% | 0.01% | 0.00% |
VUTY.L Vanguard USD Treasury Bond UCITS ETF Distributing | 4.27% | 4.40% | 4.00% | 3.47% | 2.06% | 1.19% | 1.64% | 2.42% | 2.24% | 1.64% | 0.92% |
Frequently Asked Questions
VUTY.L and TP05.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUTY.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUTY.L is cheaper with a 0.05% expense ratio, compared with 0.10% for TP05.L.
VUTY.L is categorized as Government Bonds, while TP05.L is Inflation-Protected Bonds. VUTY.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index, while TP05.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.05% for VUTY.L and 0.10% for TP05.L.
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