# iShares USD TIPS UCITS ETF (ITPS)

**Page:** https://fundology.uk/fund/itps · ISIN IE00B1FZSC47

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, ITPS (iShares USD TIPS UCITS ETF, ISIN IE00B1FZSC47) closed at £190.30 on the London Stock Exchange. Its ongoing charge is 0.10% a year (about £10 on £10,000). Over the five years to 13/11/2026 its total return was −1.3%, or −23.0% after UK CPIH inflation.

## Summary

iShares USD TIPS UCITS ETF is an exchange-traded fund (ETF) from iShares, launched in 2006. 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 0.1% a year — about £10 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

Latest close: **£190.30** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | ITPS |
| ISIN | IE00B1FZSC47 |
| Also listed as | IDTP (London Stock Exchange, US dollars), IUST (Xetra, euros) |
| Category | Government bonds |
| Type | ETF |
| Provider | iShares |
| Tracks | Bloomberg US Govt Inflation-Linked |
| Income | Accumulating |
| Ongoing charge | 0.10% a year (£10 per £10,000) |
| Fund size | £2.9bn |
| Launched | 2006 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 10/07/2010 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | -2.28% | -5.74% | income reinvested |
| 3 years | +2.87% | -7.06% | income reinvested |
| 5 years | -1.34% | -22.99% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of iShares USD TIPS UCITS ETF in pounds (price, with income reinvested in the fund): 2022 −2.3%, 2023 −2.1%, 2024 +4.7%, 2025 −2.1%; 2026 to 13/11/2026 +0.9%. Returns of iShares USD TIPS UCITS ETF in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −0.9%; to 30/09/2025: +3.1%; to 30/09/2024: 0.0%; to 30/09/2023: −7.8%; to 30/09/2022: +6.7%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -2.3% | -10.6% | Price |
| 2023 | -2.1% | -6.0% | Price |
| 2024 | +4.7% | +1.2% | Price |
| 2025 | -2.1% | -5.4% | Price |
| 2026 to 13/11/2026 | +0.9% | -2.3% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 5.14% | -4.20% |
| 3 years | 6.75% | -7.76% |
| 5 years | 8.03% | -15.07% |

## Largest fall

Volatility of iShares USD TIPS UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 5.1% over 1 year, 6.7% over 3 years, 8.0% over 5 years. Largest fall in the price of iShares USD TIPS UCITS ETF since November 2021, in pounds: −15.1% from 23/09/2022 to 14/07/2023. The lowest 12-month return of iShares USD TIPS UCITS ETF in pounds (price, with income reinvested in the fund) since January 2021 was −12.6% (12 months to 18/08/2023); the highest was +15.2% (12 months to 11/03/2022). On 13/11/2026 the price of iShares USD TIPS UCITS ETF was 8.3% below its highest weekly close since November 2021 (23/09/2022), in pounds.

## Charges compared with similar funds

Ongoing charge of iShares USD TIPS UCITS ETF 0.10% a year. Compared on 14/11/2026, 184 of the 311 other government bond funds charge more, 39 the same and 88 less (share classes counted once).

## 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 | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| iShares USD TIPS UCITS ETF (this fund) | 0.10% | -2.3% | +2.9% | -1.3% |
| iShares USD TIPS UCITS ETF Acc | 0.12% | -7.9% | +1.7% | -14.2% |
| iShares USD TIPS UCITS ETF Accum- Hedge GBP | 0.12% | -1.1% | — | — |
| iShares USD TIPS UCITS ETF GBP Hedged Dist | 0.12% | -1.1% | +11.3% | -5.6% |
| Multi Units Luxembourg SICAV - Amundi US TIPS -C-USD- Capitalisation | 0.09% | -2.2% | +2.4% | -2.1% |
| Multi Units Luxembourg SICAV - Amundi US TIPS -Dist- Distribution | 0.09% | -2.5% | +4.5% | -2.3% |
| State Street SPDR Bloomberg U.S. TIPS UCITS ETF Accum USD | 0.05% | — | — | — |
| State Street SPDR Bloomberg U.S. TIPS UCITS ETF USD | 0.17% | -2.5% | +4.5% | -2.4% |

Returns are as reported, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.10%** per year
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 06/11/2026, ITPS 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%.

### Top holdings

Largest positions (as of 06/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Treasury (Cpi) Note 1.88% 15/07/2035 | — | 3.43% |
| 2 | Treasury (Cpi) Note 1.88% 15/01/2036 | — | 3.37% |
| 3 | Treasury (Cpi) Note 2.13% 15/01/2035 | — | 3.33% |
| 4 | Treasury (Cpi) Note 1.25% 15/04/2031 | — | 3.18% |
| 5 | Treasury (Cpi) Note 0.13% 15/01/2032 | — | 3.13% |
| 6 | Treasury (Cpi) Note 1.75% 15/01/2034 | — | 3.12% |
| 7 | Treasury (Cpi) Note 1.88% 15/07/2034 | — | 3.12% |
| 8 | Treasury (Cpi) Note 0.50% 15/01/2028 | — | 3.10% |
| 9 | Treasury (Cpi) Note 1.13% 15/10/2030 | — | 3.04% |
| 10 | Treasury (Cpi) Note 0.13% 15/01/2030 | — | 3.00% |

All 50 holdings: https://fundology.uk/fund/itps/holdings

## Questions people ask

**What is the ongoing charge of ITPS?**

The ongoing charge of ITPS is 0.10% a year — about £10 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 0.10% a year. Compared on 14/11/2026, 184 of the 311 other government bond funds charge more, 39 the same and 88 less (share classes counted once).

**What does ITPS track?**

ITPS tracks the Bloomberg US Govt Inflation-Linked.

**Is ITPS accumulating or distributing?**

ITPS is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

**What is the ISIN of ITPS?**

The ISIN of ITPS is IE00B1FZSC47. An ISIN identifies one exact share class of a fund; ITPS is its ticker on the London Stock Exchange. The same share class is also listed as IDTP (London Stock Exchange, US dollars) and IUST (Xetra, euros).

**What does ITPS hold?**

As of 06/11/2026, ITPS 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 ITPS’s returns in each of the last five years?**

Calendar-year returns of ITPS in pounds (price, with income reinvested in the fund): 2022 −2.3%, 2023 −2.1%, 2024 +4.7%, 2025 −2.1%; 2026 to 13/11/2026 +0.9%. Past performance is not a guide to future returns.

**How has ITPS done after inflation?**

Over the five years to 13/11/2026 ITPS’s total return was −1.3%, or −23.0% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at iShares](https://www.ishares.com/uk/individual/en/products/251714/ishares-tips-ucits-etf)
- [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-tips-ucits-etf-gb-ie00b1fzsc47-en.pdf)
- [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/itps-ishares-tips-ucits-etf-fund-fact-sheet-en-gb.pdf)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.