# State Street SPDR Bloomberg U.S. TIPS UCITS ETF USD (UTIP)

**Source:** https://fundology.uk/fund/utip · ISIN IE00BZ0G8977 · Data: TradingView (LSE closes and returns, delayed), issuer documents and holdings (SPDR), 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 01/10/2026, UTIP (State Street SPDR Bloomberg U.S. TIPS UCITS ETF USD, ISIN IE00BZ0G8977) closed at £20.43 on the London Stock Exchange. Its ongoing charge is 0.17% a year (about £17 on £10,000). Over the five years to 01/10/2026 its total return was −0.3%, or −22.1% after UK CPIH inflation.

## Summary

State Street SPDR Bloomberg U.S. TIPS UCITS ETF USD is an exchange-traded fund (ETF) from SPDR, launched in 2015. 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 0.17% a year — about £17 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.

Latest close: **£20.43** (01/10/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | UTIP |
| ISIN | IE00BZ0G8977 |
| Category | Government bonds |
| Type | ETF |
| Provider | SPDR |
| Tracks | Bloomberg US Govt Inflation-Linked |
| Income | Distributing |
| Ongoing charge | 0.17% a year (£17 per £10,000) |
| Fund size | £150m |
| Launched | 2015 |
| Domicile | Ireland |

## Past returns (periods to 01/10/2026)

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 | -0.76% | -3.87% | income reinvested |
| 3 years | +1.98% | -7.98% | income reinvested |
| 5 years | -0.30% | -22.06% | income reinvested |

Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of State Street SPDR Bloomberg U.S. TIPS UCITS ETF USD in pounds (price only, income paid out not included): 2022 −8.9%, 2023 −6.3%, 2024 −1.2%, 2025 −3.7%; 2026 to 01/10/2026 −5.6%. Returns of State Street SPDR Bloomberg U.S. TIPS UCITS ETF USD in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −6.7%; to 30/09/2025: −0.2%; to 30/09/2024: −4.2%; to 30/09/2023: −11.8%; to 30/09/2022: +0.7%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -8.9% | -16.6% | Price |
| 2023 | -6.3% | -10.1% | Price |
| 2024 | -1.2% | -4.5% | Price |
| 2025 | -3.7% | -7.0% | Price |
| 2026 to 01/10/2026 | -5.6% | -8.2% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 6.41% | -8.79% |
| 3 years | 7.48% | -12.69% |
| 5 years | 8.85% | -24.64% |

## Largest fall

Volatility of State Street SPDR Bloomberg U.S. TIPS UCITS ETF USD in pounds, annualised from weekly returns to 01/10/2026: 6.4% over 1 year, 7.5% over 3 years, 8.9% over 5 years. Largest fall in the price of State Street SPDR Bloomberg U.S. TIPS UCITS ETF USD since October 2021, in pounds: −24.6% from 29/07/2022 to 10/09/2026. The lowest 12-month return of State Street SPDR Bloomberg U.S. TIPS UCITS ETF USD in pounds (price only, income paid out not included) since January 2021 was −17.0% (12 months to 14/07/2023); the highest was +9.5% (12 months to 11/03/2022). On 01/10/2026 the price of State Street SPDR Bloomberg U.S. TIPS UCITS ETF USD was 24.5% below its highest weekly close since October 2021 (03/12/2021), in pounds.

## Charges compared with similar funds

Ongoing charge of State Street SPDR Bloomberg U.S. TIPS UCITS ETF USD 0.17% a year, as of 02/10/2026: 83 of the 275 other government bond funds charge more, 11 the same and 181 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 0.09% to 0.17% a year (01/10/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| iShares USD TIPS UCITS ETF | 0.10% | -0.8% | +2.1% | +0.0% |
| iShares USD TIPS UCITS ETF | 0.12% | -2.2% | +11.1% | -3.9% |
| iShares USD TIPS UCITS ETF | 0.12% | -5.8% | +4.5% | -10.9% |
| iShares USD TIPS UCITS ETF Accum- Hedge GBP | 0.12% | -2.2% | — | — |
| Multi Units Luxembourg SICAV - Amundi US TIPS -C-USD- Capitalisation | 0.09% | -0.5% | +3.6% | +0.9% |
| Multi Units Luxembourg SICAV - Amundi US TIPS -Dist- Distribution | 0.09% | -0.9% | +2.0% | -0.2% |
| State Street SPDR Bloomberg U.S. TIPS UCITS ETF Accum USD | — | — | — | — |
| State Street SPDR Bloomberg U.S. TIPS UCITS ETF USD (this fund) | 0.17% | -0.8% | +2.0% | -0.3% |

Returns are the data vendor’s, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.17%** per year
- ISA eligible: yes
- SIPP eligible: yes

## What it holds

As of 30/09/2026, UTIP holds 49 positions, according to the holdings SPDR publishes. The largest is Tsy Infl Ix N/B 1.875 07/15/2035 at 3.65% of the fund; the ten largest make up 32.8%.

### Top holdings

Largest positions (as of 30/09/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Tsy Infl Ix N/B 1.875 07/15/2035 | — | 3.65% |
| 2 | Tsy Infl Ix N/B 1.25 04/15/2031 | — | 3.57% |
| 3 | Tsy Infl Ix N/B 1.875 07/15/2034 | — | 3.46% |
| 4 | Tsy Infl Ix N/B 1.125 10/15/2030 | — | 3.28% |
| 5 | Tsy Infl Ix N/B 0.25 07/15/2029 | — | 3.21% |
| 6 | Tsy Infl Ix N/B 0.125 07/15/2030 | — | 3.15% |
| 7 | Tsy Infl Ix N/B 0.625 07/15/2032 | — | 3.14% |
| 8 | Tsy Infl Ix N/B 0.75 07/15/2028 | — | 3.13% |
| 9 | Tsy Infl Ix N/B 0.125 07/15/2031 | — | 3.12% |
| 10 | Tsy Infl Ix N/B 2.375 10/15/2028 | — | 3.06% |

Source: SPDR, holdings as published, as of 30/09/2026.

All 49 holdings: https://fundology.uk/fund/utip/holdings

## Questions people ask

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

The ongoing charge of UTIP is 0.17% a year — about £17 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 State Street SPDR Bloomberg U.S. TIPS UCITS ETF USD 0.17% a year, as of 02/10/2026: 83 of the 275 other government bond funds charge more, 11 the same and 181 less (share classes counted once).

**What does UTIP track?**

UTIP tracks the Bloomberg US Govt Inflation-Linked.

**Is UTIP accumulating or distributing?**

UTIP is distributing: income is paid out to holders as cash, usually a few times a year. It pays out semi-annual.

**What is the ISIN of UTIP?**

The ISIN of UTIP is IE00BZ0G8977. An ISIN identifies one exact share class of a fund; UTIP is its ticker on the London Stock Exchange.

**What does UTIP hold?**

As of 30/09/2026, UTIP holds 49 positions, according to the holdings SPDR publishes. The largest is Tsy Infl Ix N/B 1.875 07/15/2035 at 3.65% of the fund; the ten largest make up 32.8%. Its ten largest holdings are Tsy Infl Ix N/B 1.875 07/15/2035 (3.65%), Tsy Infl Ix N/B 1.25 04/15/2031 (3.57%), Tsy Infl Ix N/B 1.875 07/15/2034 (3.46%), Tsy Infl Ix N/B 1.125 10/15/2030 (3.28%), Tsy Infl Ix N/B 0.25 07/15/2029 (3.21%), Tsy Infl Ix N/B 0.125 07/15/2030 (3.15%), Tsy Infl Ix N/B 0.625 07/15/2032 (3.14%), Tsy Infl Ix N/B 0.75 07/15/2028 (3.13%), Tsy Infl Ix N/B 0.125 07/15/2031 (3.12%) and Tsy Infl Ix N/B 2.375 10/15/2028 (3.06%).

**What were UTIP’s returns in each of the last five years?**

Calendar-year returns of UTIP in pounds (price only, income paid out not included): 2022 −8.9%, 2023 −6.3%, 2024 −1.2%, 2025 −3.7%; 2026 to 01/10/2026 −5.6%. Past performance is not a guide to future returns.

**How has UTIP done after inflation?**

Over the five years to 01/10/2026 UTIP’s total return was −0.3%, or −22.1% after UK CPIH inflation. Past performance is not a guide to future returns.

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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.