# Multi Units Luxembourg SICAV - Amundi US TIPS -C-USD- Capitalisation (TIPA) **Source:** https://fundology.uk/fund/tipa · ISIN LU1452600197 · Data: TradingView (LSE closes and returns, delayed), issuer documents, ONS CPIH, FCA FIRDS ## 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 30/09/2026, TIPA (Amundi US TIPS -C-USD- Capitalisation, ISIN LU1452600197) closed at $22.75 on the London Stock Exchange. Its ongoing charge is 0.09% a year (about £9 on £10,000). Over the five years to 30/09/2026 its total return was −0.1%, or −21.9% after UK CPIH inflation. ## Summary Multi Units Luxembourg SICAV - Amundi US TIPS -C-USD- Capitalisation is an exchange-traded fund (ETF) from Amundi, launched in 2019. 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 0.09% a year — about £9 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: **$22.75** (30/09/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | TIPA | | ISIN | LU1452600197 | | Category | Government bonds | | Type | ETF | | Provider | Amundi | | Tracks | Bloomberg US Govt Inflation-Linked | | Income | Accumulating | | Ongoing charge | 0.09% a year (£9 per £10,000) | | Fund size | £86.2m | | Launched | 2019 | | Domicile | Luxembourg | ## Past returns (periods to 30/09/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after ONS CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | -1.06% | -4.17% | income reinvested | | 3 years | +2.49% | -7.51% | income reinvested | | 5 years | -0.12% | -21.92% | income reinvested | Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Multi Units Luxembourg SICAV - Amundi US TIPS -C-USD- Capitalisation in pounds (price, with income reinvested in the fund): 2022 −2.3%, 2023 −2.1%, 2024 +3.0%, 2025 −0.6%; 2026 to 30/09/2026 −0.6%. Returns of Multi Units Luxembourg SICAV - Amundi US TIPS -C-USD- Capitalisation in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −1.7%; to 30/09/2025: +3.8%; to 30/09/2024: +0.3%; to 30/09/2023: −9.1%; to 30/09/2022: +8.2%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | -2.3% | -10.6% | Price | | 2023 | -2.1% | -6.0% | Price | | 2024 | +3.0% | -0.5% | Price | | 2025 | -0.6% | -4.0% | Price | | 2026 to 30/09/2026 | -0.6% | -3.4% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 6.11% | -4.75% | | 3 years | 6.96% | -7.82% | | 5 years | 8.11% | -14.07% | ## Largest fall Volatility of Multi Units Luxembourg SICAV - Amundi US TIPS -C-USD- Capitalisation in pounds, annualised from weekly returns to 30/09/2026: 6.1% over 1 year, 7.0% over 3 years, 8.1% over 5 years. Largest fall in the price of Multi Units Luxembourg SICAV - Amundi US TIPS -C-USD- Capitalisation since October 2021, in pounds: −14.1% from 23/09/2022 to 14/07/2023. The lowest 12-month return of Multi Units Luxembourg SICAV - Amundi US TIPS -C-USD- Capitalisation in pounds (price, with income reinvested in the fund) since January 2021 was −12.4% (12 months to 18/08/2023); the highest was +14.9% (12 months to 11/03/2022). On 30/09/2026 the price of Multi Units Luxembourg SICAV - Amundi US TIPS -C-USD- Capitalisation was 8.7% below its highest weekly close since October 2021 (23/09/2022), in pounds. ## Charges compared with similar funds Ongoing charge of Multi Units Luxembourg SICAV - Amundi US TIPS -C-USD- Capitalisation 0.09% a year, as of 01/10/2026: 199 of the 274 other government bond funds charge more, 10 the same and 65 less (share classes counted once). ## Funds tracking the same index 7 funds track Bloomberg US Govt Inflation-Linked, this one included and share classes counted once; their ongoing charges range from 0.09% to 0.17% a year (30/09/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | iShares USD TIPS UCITS ETF | 0.10% | -0.7% | +2.7% | +1.1% | | iShares USD TIPS UCITS ETF | 0.12% | -2.2% | +10.3% | -3.9% | | iShares USD TIPS UCITS ETF Accum- Hedge GBP | 0.12% | -2.2% | — | — | | Multi Units Luxembourg SICAV - Amundi US TIPS -C-USD- Capitalisation (this fund) | 0.09% | -1.1% | +2.5% | -0.1% | | Multi Units Luxembourg SICAV - Amundi US TIPS -Dist- Distribution | 0.09% | -0.7% | +2.5% | +0.9% | | State Street SPDR Bloomberg U.S. TIPS UCITS ETF Accum USD | — | — | — | — | | State Street SPDR Bloomberg U.S. TIPS UCITS ETF USD | 0.17% | -0.6% | +2.5% | +0.8% | Returns are the data vendor’s, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.09%** per year - ISA eligible: yes - SIPP eligible: yes ## Top holdings Largest positions (as of 29/09/2026): | Holding | Weight | |---|---| | UNITED ST TSY 1.875% 15Jul35 | 3.50% | | UNITED ST TSY 2.125% 15Jan35 | 3.42% | | UNITED ST TSY 1.875% 15Jan36 | 3.41% | | UNITED ST TSY 1.25% 15Apr31 | 3.25% | | UNITED ST TSY 1.875% 15Jul34 | 3.21% | | UNITED ST TSY 1.125% 15Oct30 | 3.13% | | UNITED ST TSY 0.125% 15Jan32 | 3.12% | | UNITED ST TSY 1.625% 15Apr30 | 3.10% | | UNITED ST TSY 1.75% 15Jan34 | 3.05% | | UNITED ST TSY 0.125% 15Jul31 | 3.01% | All 48 holdings: https://fundology.uk/fund/tipa/holdings --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.