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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in US Treasury 2 Year Note ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
US Treasury 2 Year Note ETF (UTWO) has returned 0.25% so far this year and 3.47% over the past 12 months.
US Treasury 2 Year Note ETF
- 1D
- 0.10%
- 1M
- -0.46%
- YTD
- 0.25%
- 6M
- 1.36%
- 1Y
- 3.47%
- 3Y*
- 3.60%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Aug 9, 2022, UTWO's average daily return is +0.01%, while the average monthly return is +0.26%. At this rate, your investment would double in approximately 22.2 years.
Historically, 70% of months were positive and 30% were negative. The best month was Mar 2023 with a return of +1.7%, while the worst month was Sep 2022 at -1.1%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 3 months.
On a daily basis, UTWO closed higher 51% of trading days. The best single day was Mar 13, 2023 with a return of +1.1%, while the worst single day was Mar 16, 2023 at -0.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.17% | 0.54% | -0.46% | 0.25% | |||||||||
| 2025 | 0.39% | 0.68% | 0.46% | 0.83% | -0.29% | 0.55% | -0.15% | 0.88% | 0.25% | 0.35% | 0.43% | 0.32% | 4.79% |
| 2024 | 0.37% | -0.47% | 0.28% | -0.41% | 0.71% | 0.53% | 1.14% | 0.93% | 0.75% | -0.68% | 0.29% | 0.22% | 3.71% |
| 2023 | 0.58% | -0.86% | 1.65% | 0.21% | -0.51% | -0.57% | 0.20% | 0.42% | -0.12% | 0.31% | 0.97% | 1.15% | 3.45% |
| 2022 | -0.17% | -1.05% | -0.23% | 0.47% | 0.17% | -0.81% |
Benchmark Metrics
US Treasury 2 Year Note ETF has an annualized alpha of 3.20%, beta of -0.00, and R² of 0.00 versus S&P 500 Index. Calculated based on daily prices since August 10, 2022.
- This ETF captured 9.02% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -0.39%) — a profile typical of hedging or uncorrelated assets.
- Beta of -0.00 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
- 3.20%
- Beta
- -0.00
- R²
- 0.00
- Upside Capture
- 9.02%
- Downside Capture
- -0.39%
Expense Ratio
UTWO has an expense ratio of 0.15%, which is considered low.
Return for Risk
Risk / Return Rank
UTWO ranks 95 for risk / return — in the top 95% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for US Treasury 2 Year Note ETF (UTWO) and compare them to a chosen benchmark (S&P 500 Index).
| UTWO | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.31 | 0.90 | +1.42 |
Sortino ratioReturn per unit of downside risk | 3.69 | 1.39 | +2.30 |
Omega ratioGain probability vs. loss probability | 1.48 | 1.21 | +0.27 |
Calmar ratioReturn relative to maximum drawdown | 3.92 | 1.40 | +2.52 |
Martin ratioReturn relative to average drawdown | 13.93 | 6.61 | +7.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore UTWO risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
US Treasury 2 Year Note ETF provided a 3.81% dividend yield over the last twelve months, with an annual payout of $1.84 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $1.84 | $1.76 | $2.03 | $2.12 | $0.59 |
Dividend yield | 3.81% | 3.63% | 4.22% | 4.39% | 1.22% |
Monthly Dividends
The table displays the monthly dividend distributions for US Treasury 2 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 | $0.14 | $0.14 | $0.13 | $0.40 | |||||||||
| 2025 | $0.00 | $0.16 | $0.16 | $0.16 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.14 | $0.13 | $0.27 | $1.76 |
| 2024 | $0.00 | $0.17 | $0.16 | $0.18 | $0.17 | $0.19 | $0.19 | $0.18 | $0.17 | $0.15 | $0.13 | $0.32 | $2.03 |
| 2023 | $0.00 | $0.17 | $0.16 | $0.18 | $0.16 | $0.15 | $0.16 | $0.18 | $0.18 | $0.19 | $0.19 | $0.39 | $2.12 |
| 2022 | $0.09 | $0.17 | $0.34 | $0.59 |
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 2 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 2 Year Note ETF was 2.04%, occurring on Nov 7, 2022. Recovery took 85 trading sessions.
The current US Treasury 2 Year Note ETF drawdown is 0.46%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -2.04% | Aug 19, 2022 | 56 | Nov 7, 2022 | 85 | Mar 13, 2023 | 141 |
| -1.82% | May 5, 2023 | 42 | Jul 6, 2023 | 101 | Nov 28, 2023 | 143 |
| -1.08% | Sep 25, 2024 | 35 | Nov 12, 2024 | 53 | Jan 31, 2025 | 88 |
| -0.9% | Mar 2, 2026 | 19 | Mar 26, 2026 | — | — | — |
| -0.77% | May 1, 2025 | 10 | May 14, 2025 | 27 | Jun 24, 2025 | 37 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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