- ISIN
- US74933W4942
- Issuer
- US Benchmark Series
- Inception Date
- Mar 27, 2023
- Category
- Government Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- ICE BofA Current 3-Year US Treasury Index - Benchmark TR Gross
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $10M
Share Price Chart
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Performance
UTRE Performance Chart
US Treasury 3 Year Note ETF (UTRE) is down 0.2% since the beginning of the year. UTRE is currently trading at $49 per share.
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Returns By Period
US Treasury 3 Year Note ETF (UTRE) has returned -0.21% so far this year and 2.49% over the past 12 months.
US Treasury 3 Year Note ETF
- 1D
- -0.14%
- 1M
- 0.06%
- YTD
- -0.21%
- 6M
- -0.08%
- 1Y
- 2.49%
- 3Y*
- 3.74%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
UTRE Monthly Returns History
Based on dividend-adjusted daily data since Mar 28, 2023, UTRE's average daily return is +0.01%, while the average monthly return is +0.27%. At this rate, an investment would double in approximately 21.4 years.
Historically, 68% of months were positive and 32% were negative. The best month was Jul 2024 with a return of +1.5%, while the worst month was Oct 2024 at -1.2%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.
On a daily basis, UTRE closed higher 52% of trading days. The best single day was Aug 2, 2024 with a return of +0.8%, while the worst single day was Apr 10, 2024 at -0.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.15% | 0.84% | -0.85% | 0.00% | -0.05% | -0.29% | -0.21% | ||||||
| 2025 | 0.39% | 1.09% | 0.53% | 1.21% | -0.50% | 0.74% | -0.23% | 1.17% | 0.07% | 0.38% | 0.55% | 0.15% | 5.68% |
| 2024 | 0.24% | -0.79% | 0.30% | -0.92% | 0.93% | 0.67% | 1.54% | 1.05% | 0.85% | -1.23% | 0.35% | -0.04% | 2.96% |
| 2023 | 0.35% | 0.44% | -0.60% | -1.04% | 0.24% | 0.29% | -0.48% | 0.12% | 1.51% | 1.50% | 2.34% |
Benchmark Metrics
US Treasury 3 Year Note ETF has an annualized alpha of 3.55%, beta of -0.01, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since March 28, 2023.
- This ETF captured 8.73% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -1.38%) - a profile typical of hedging or uncorrelated assets.
- Beta of -0.01 may look defensive, but with R2 of 0.00 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.00 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.55%
- Beta
- -0.01
- R²
- 0.00
- Upside Capture
- 8.73%
- Downside Capture
- -1.38%
Expense Ratio
UTRE has an expense ratio of 0.15%, which is considered low.
Return for Risk
Risk / Return Rank
UTRE ranks 35 for risk / return — below 35% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for US Treasury 3 Year Note ETF (UTRE) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| UTRE | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.37 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 2.78 | -1.04 |
| Martin ratioReturn relative to average drawdown | 4.68 | 12.44 | -7.76 |
Dividends
Dividend History
US Treasury 3 Year Note ETF provided a 3.50% dividend yield over the last twelve months, with an annual payout of $1.72 per share.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $1.72 | $1.80 | $1.96 | $1.55 |
Dividend yield | 3.50% | 3.60% | 4.01% | 3.14% |
Monthly Dividends
The table displays the monthly dividend distributions for US Treasury 3 Year Note ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.15 | $0.14 | $0.14 | $0.14 | $0.15 | $0.00 | $0.72 | ||||||
| 2025 | $0.00 | $0.16 | $0.17 | $0.16 | $0.15 | $0.15 | $0.16 | $0.15 | $0.15 | $0.13 | $0.14 | $0.28 | $1.80 |
| 2024 | $0.00 | $0.17 | $0.16 | $0.16 | $0.17 | $0.18 | $0.18 | $0.18 | $0.16 | $0.14 | $0.14 | $0.32 | $1.96 |
| 2023 | $0.19 | $0.15 | $0.15 | $0.17 | $0.17 | $0.18 | $0.18 | $0.36 | $1.55 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the US Treasury 3 Year Note ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the US Treasury 3 Year Note ETF was 2.80%, occurring on Jul 6, 2023. Recovery took 112 trading sessions.
The current US Treasury 3 Year Note ETF drawdown is 1.19%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 pullback2023 | -2.80%Jul 2023 | 2mo 2d | 5mo 10d | 7mo 12dMay 2023 - Dec 2023 |
2024 pullback2024 | -1.86%Nov 2024 | 1mo 26d | 3mo 16d | 5mo 12dSep 2024 - Feb 2025 |
2024 pullback2024 | -1.63%Apr 2024 | 2mo 14d | 1mo 28d | 4mo 12dFeb 2024 - Jun 2024 |
2026 pullback2026 | -1.44%Mar 2026 | 24d | — | 3mo 23dMar 2026 - now |
2025 selloff2025 | -1.21%May 2025 | 13d | 1mo 12d | 1mo 25dMay 2025 - Jun 2025 |
Drawdown Indicators
| UTRE | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.80% | -56.78% | +53.98% |
Max Drawdown (1Y)Largest decline over 1 year | -1.44% | -9.10% | +7.66% |
Max Drawdown (3Y)Largest decline over 3 years | -1.86% | -18.90% | +17.04% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.19% | -1.80% | +0.61% |
Average DrawdownAverage peak-to-trough decline | -0.78% | -10.71% | +9.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 2.03% | -1.50% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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