ETF · iShares
ITPG iShares USD TIPS UCITS ETF GBP Hedged Dist
ISIN IE00BDZVH859London Stock Exchange: ITPGBlackRock, Inc.
- Government bonds
- ETF
- ISA
- SIPP
- Distributing
- GBP hedged
Latest close
LSE£4.62
on
- Ongoing charge
- 0.12% a year
- Fund size
- £1.2bn
As of , at least 15 min delayed
At a glance
As of 13/11/2026, ITPG (iShares USD TIPS UCITS ETF GBP Hedged Dist, ISIN IE00BDZVH859) closed at £4.62 on the London Stock Exchange. Its ongoing charge is 0.12% a year (about £12 on £10,000). Over the five years to 13/11/2026 its total return was −5.6%, or −26.3% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- −1.1%
- −4.6% after inflation (UK CPIH)
- 3 years to 13/11/2026
- +11.3%
- +0.6% after inflation (UK CPIH)
- 5 years to 13/11/2026
- −5.6%
- −26.3% after inflation (UK CPIH)
£1,000 put in five years ago would have been worth about £944 on 13/11/2026 — about £737 in today’s spending power, once price rises are taken out. Past performance is not a guide to future returns.
Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.
How we work it out:ReturnsReturns after inflationTotal returnReal returnCPIH
Calendar-year and 12-month returns
Calendar-year returns of iShares USD TIPS UCITS ETF GBP Hedged Dist in pounds (price only, income paid out not included): 2022 −14.7%, 2023 +1.1%, 2024 −2.9%, 2025 +1.7%; 2026 to 13/11/2026 −4.6%. Returns of iShares USD TIPS UCITS ETF GBP Hedged Dist in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −6.9%; to 30/09/2025: −1.1%; to 30/09/2024: +5.0%; to 30/09/2023: −1.6%; to 30/09/2022: −13.8%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | −4.6% | −7.7% | |
| to | +1.7% | −1.8% | |
| to | −2.9% | −6.2% | |
| +1.1% | −3.0% | ||
| −14.7% | −22.0% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | −6.9% | −10.2% |
| from | −1.1% | −5.0% |
| from | +5.0% | +2.4% |
| from | −1.6% | −7.5% |
| from | −13.8% | −20.8% |
As of , inflation: UK CPIH
How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing
Risk: volatility and largest fall
Volatility (annualised)
6.4%over 5 years
| 1 year | 4.5% |
|---|---|
| 3 years | 5.5% |
| 5 years | 6.4% |
Annualised from weekly returns. Higher means bumpier.
- Largest fall since November 2021
- −19.8%
- From to
- Lowest 12-month return
- −15.6%
- 12 months to
- Highest 12-month return
- +6.9%
- 12 months to
- Below its highest weekly close since November 2021
- 19.1%
- High of , latest
In words: Volatility of iShares USD TIPS UCITS ETF GBP Hedged Dist in pounds, annualised from weekly returns to 13/11/2026: 4.5% over 1 year, 5.5% over 3 years, 6.4% over 5 years. Largest fall in the price of iShares USD TIPS UCITS ETF GBP Hedged Dist since November 2021, in pounds: −19.8% from 19/11/2021 to 02/10/2026. The lowest 12-month return of iShares USD TIPS UCITS ETF GBP Hedged Dist in pounds (price only, income paid out not included) since January 2021 was −15.6% (12 months to 04/11/2022); the highest was +6.9% (12 months to 11/03/2022). On 13/11/2026 the price of iShares USD TIPS UCITS ETF GBP Hedged Dist was 19.1% below its highest weekly close since November 2021 (19/11/2021), in pounds.
As of , price only — income paid out is not included
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.12%
- a year
- On £10,000
- £12
- a year, roughly
- Over five years
- £60
- of £10,000, before growth
- 132 charge less
- 20 the same
- 159 charge more
Ongoing charge of iShares USD TIPS UCITS ETF GBP Hedged Dist 0.12% a year. Compared on 14/11/2026, 159 of the 311 other government bond funds charge more, 20 the same and 132 less (share classes counted once).
As of
A lower charge is not a promise of a higher return: what the fund holds matters more.
As of
Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up
In plain English
iShares USD TIPS UCITS ETF GBP Hedged Dist is an exchange-traded fund (ETF) from iShares, launched in 2018.
It tracks the Bloomberg US Govt Inflation-Linked.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.12% a year — about £12 a year on every £10,000 invested, taken from the fund's value rather than billed to you.
Income from its investments is paid out to holders as cash, usually a few times a year.
It is currency-hedged: it aims to remove most of the effect of exchange-rate moves against the pound.
Government bonds: Loans to governments, such as UK gilts and US Treasuries. They pay interest; their prices move when interest rates change.
Terms:ETFIndex fundUCITSAccumulating or incomeCurrency hedgingShare classISIN
Key facts
- Ticker
- ITPG
- ISIN
- IE00BDZVH859
- Provider
- iShares
- Structure
- ETF
- An exchange-traded fund: bought and sold on the stock exchange through the day, like a share.
- Income
- Distributing, paid quarterly
- Income is paid out to holders as cash, usually a few times a year.
- Ongoing charge
- 0.12% a year · about £12 on £10,000
- Fund size
- £1.2bn
- Launched
- Domicile
- Ireland
- UK reporting fund status
- Yes — on HMRC’s list of reporting funds (list of )
- Reporting fund since . What reporting fund status means
- Can usually be held in
- ISA and SIPP
- Check with your platform: each decides which funds it offers.
- Currency hedged
- Yes, to pounds
- Price currency
- Pounds (GBP)
- Category
- Government bonds
Price chart
Over the last year, the closing price went from £4.84 on 14/11/2025 to £4.62 on 13/11/2026 (−4.7%). The lowest close shown was £4.58 on 02/10/2026 and the highest £4.90 on 13/02/2026.
One close a week. Before 31/07/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded. Price only — income paid out is not included, so the line can end below the total return above.
As of , at least 15 min delayed
Five years of prices, and after inflation
262 weekly closes, from 12/11/2021 to 13/11/2026. The same history in November 2026 pounds, adjusted with CPIH inflation.
Create a free account to see the 5-year price chart and the after-inflation chart
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How we work it out:Prices and returnsNAV and price
What it holds
- Holdings
- 50
- on record
- Ten largest
- 31.8%
- of the whole fund
- Effective number of holdings
- 40
- As concentrated as this many equal-sized holdings (how it is worked out)
- Largest holding
- 3.4%
- Treasury (Cpi) Note 1.88% 15/07/2035
Top 10 holdings
| Rank# | Holding | Weight as a percentage of the fund |
|---|---|---|
| 1 | Treasury (Cpi) Note 1.88% 15/07/2035Treasury | 3.43% |
| 2 | Treasury (Cpi) Note 1.88% 15/01/2036Treasury | 3.37% |
| 3 | Treasury (Cpi) Note 2.13% 15/01/2035Treasury | 3.33% |
| 4 | Treasury (Cpi) Note 1.25% 15/04/2031Treasury | 3.18% |
| 5 | Treasury (Cpi) Note 0.13% 15/01/2032Treasury | 3.13% |
| 6 | Treasury (Cpi) Note 1.75% 15/01/2034Treasury | 3.12% |
| 7 | Treasury (Cpi) Note 1.88% 15/07/2034Treasury | 3.12% |
| 8 | Treasury (Cpi) Note 0.50% 15/01/2028Treasury | 3.10% |
| 9 | Treasury (Cpi) Note 1.13% 15/10/2030Treasury | 3.04% |
| 10 | Treasury (Cpi) Note 0.13% 15/01/2030Treasury | 3.00% |
As of , holdings as published
See the full portfolio
Every holding with search and filters, the whole breakdown by sector, country and type of asset, a map of the 50 largest and what changed since .
More of the portfolio
The fund publishes 48 holdings; the ten largest make up 31.8% of it. The fund's portfolio is also split by currency, maturity and credit quality.
Create a free account to see the full holdings list and the currency, maturity and credit-quality breakdowns
Sign-up takes an email address. There is no card to enter and nothing to pay.
Holdings:Compare what it holds with another fundHoldings overlapHow overlap is measured
Funds tracking the same index
8 funds track Bloomberg US Govt Inflation-Linked, this one included and share classes counted once; their ongoing charges range from 0.05% to 0.17% a year (13/11/2026).
| Fund | Charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| iShares USD TIPS UCITS ETFAccumulating · 0.10% a year | 0.10% | −2.3% | +2.9% | −1.3% |
| iShares USD TIPS UCITS ETF AccAccumulating · 0.12% a year | 0.12% | −7.9% | +1.7% | −14.2% |
| iShares USD TIPS UCITS ETF Accum- Hedge GBPAccumulating · Currency hedged · 0.12% a year | 0.12% | −1.1% | Not reported | Not reported |
| iShares USD TIPS UCITS ETF GBP Hedged DistThis fundDistributing · Currency hedged · 0.12% a year | 0.12% | −1.1% | +11.3% | −5.6% |
| Amundi US TIPS -C-USD- CapitalisationAccumulating · 0.09% a year | 0.09% | −2.2% | +2.4% | −2.1% |
| Amundi US TIPS -Dist- DistributionDistributing · 0.09% a year | 0.09% | −2.5% | +4.5% | −2.3% |
| State Street SPDR Bloomberg U.S. TIPS UCITS ETF Accum USDAccumulating · 0.05% a year | 0.05% | Not reported | Not reported | Not reported |
| State Street SPDR Bloomberg U.S. TIPS UCITS ETF USDDistributing · 0.17% a year | 0.17% | −2.5% | +4.5% | −2.4% |
As of
Bloomberg US Govt Inflation-Linked funds compared: charges, sizes and share classes
Read more:Index fundsTracking differenceHow funds are compared
Other versions of this fund
- iShares USD TIPS UCITS ETFAccumulating · 0.10% a year · IE00B1FZSC47
- iShares USD TIPS UCITS ETF AccAccumulating · 0.12% a year · IE00BDZVH966
- iShares USD TIPS UCITS ETF Accum- Hedge GBPAccumulating · Currency hedged · 0.12% a year · IE000B3NURO6
Read more:Share classesAccumulating or incomeCurrency hedging
Risk and return in depth
Sharpe, Sortino and Calmar ratios
Sharpe, Sortino and Calmar ratios over 1, 3 and 5 years, from weekly returns in pounds.
With a free accountRolling returns
The full range of 254 rolling 12-month returns since January 2021, and of 150 rolling three-year returns, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The largest fall since November 2021, in pounds, with how many weeks it took to reach its low and to recover.
With a free account
Create a free account to see the risk ratios, every rolling return and each large fall and its recovery
Sign-up takes an email address. There is no card to enter and nothing to pay.
Moves compared with a similar fund
Correlation and beta of weekly returns in pounds against iShares Core UK Gilts UCITS ETF, over the three years to 13/11/2026 (156 weeks).
Pro
Pro — currently by invitation
Pro includes moves against a comparable fund
Pro is open by invitation while it is being built. There is nothing to buy. To ask about access, email [email protected].
Questions people ask
What is the ongoing charge of ITPG?
The ongoing charge of ITPG is 0.12% a year — about £12 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of iShares USD TIPS UCITS ETF GBP Hedged Dist 0.12% a year. Compared on 14/11/2026, 159 of the 311 other government bond funds charge more, 20 the same and 132 less (share classes counted once).
What does ITPG track?
ITPG tracks the Bloomberg US Govt Inflation-Linked.
Is ITPG accumulating or distributing?
ITPG is distributing: income is paid out to holders as cash, usually a few times a year. It pays out quarterly.
What is the ISIN of ITPG?
The ISIN of ITPG is IE00BDZVH859. An ISIN identifies one exact share class of a fund; ITPG is its ticker on the London Stock Exchange.
What does ITPG hold?
As of 06/11/2026, ITPG holds 48 positions, according to its published holdings. The largest is Treasury (Cpi) Note 1.88% 15/07/2035 at 3.43% of the fund; the ten largest make up 31.8%. Its ten largest holdings are Treasury (Cpi) Note 1.88% 15/07/2035 (3.43%), Treasury (Cpi) Note 1.88% 15/01/2036 (3.37%), Treasury (Cpi) Note 2.13% 15/01/2035 (3.33%), Treasury (Cpi) Note 1.25% 15/04/2031 (3.18%), Treasury (Cpi) Note 0.13% 15/01/2032 (3.13%), Treasury (Cpi) Note 1.75% 15/01/2034 (3.12%), Treasury (Cpi) Note 1.88% 15/07/2034 (3.12%), Treasury (Cpi) Note 0.50% 15/01/2028 (3.10%), Treasury (Cpi) Note 1.13% 15/10/2030 (3.04%) and Treasury (Cpi) Note 0.13% 15/01/2030 (3.00%).
What were ITPG’s returns in each of the last five years?
Calendar-year returns of ITPG in pounds (price only, income paid out not included): 2022 −14.7%, 2023 +1.1%, 2024 −2.9%, 2025 +1.7%; 2026 to 13/11/2026 −4.6%. Past performance is not a guide to future returns.
How has ITPG done after inflation?
Over the five years to 13/11/2026 ITPG’s total return was −5.6%, or −26.3% after UK CPIH inflation. Past performance is not a guide to future returns.
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Fund documents and methods
- Fund documents
- Fund page at iShares · Key investor information document (KIID) · Factsheet (links checked )
Methodology:ReturnsCategoriesAll methods
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