BBIL.L vs. T3GB.L

Last updated Jul 18, 2026

BBIL.L (JPM BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD Acc) and T3GB.L (Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged (Dist)) are both Short-Term Bond funds - BBIL.L tracks the ICE BofA 0-1Y US Treasury TR USD while T3GB.L tracks the Bloomberg US Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, BBIL.L returned 3.44%/yr vs 1.01%/yr for T3GB.L. At a 0.04 correlation, their price movements are largely independent. Both charge a 0.10% expense ratio.

Performance

BBIL.L vs. T3GB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPM BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD Acc (BBIL.L) and Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged (Dist) (T3GB.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BBIL.L is traded in USD, while T3GB.L is traded in GBp. To make them comparable, the T3GB.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, BBIL.L achieves a 1.84% return, which is significantly higher than T3GB.L's 0.72% return.

BBIL.L

• 1D: -0.02%
• 1M: 0.25%
• 6M: 1.70%
• YTD: 1.84%
• 1Y: 3.81%
• 3Y*: 4.61%
• 5Y*: 3.44%
• 10Y*: —

T3GB.L

• 1D: -0.16%
• 1M: 1.40%
• 6M: 1.39%
• YTD: 0.72%
• 1Y: 3.35%
• 3Y*: 5.09%
• 5Y*: 1.01%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BBIL.L vs. T3GB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BBIL.L JPM BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD Acc	1.84%	4.30%	5.16%	4.90%	1.07%	-0.02%	0.75%	0.98%
T3GB.L Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged (Dist)	0.72%	12.86%	2.06%	8.80%	-14.74%	-1.80%	5.75%	6.36%

Correlation

The correlation between BBIL.L and T3GB.L is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (All Time) Calculated using the full available price history since Jul 9, 2019	0.04

Return for Risk

BBIL.L vs. T3GB.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBIL.L

BBIL.L Risk / Return Rank: 99
BBIL.L Sharpe Ratio Rank: 99
BBIL.L Sortino Ratio Rank: 99
BBIL.L Omega Ratio Rank: 99
BBIL.L Calmar Ratio Rank: 99
BBIL.L Martin Ratio Rank: 99

T3GB.L

T3GB.L Risk / Return Rank: 93
T3GB.L Sharpe Ratio Rank: 93
T3GB.L Sortino Ratio Rank: 95
T3GB.L Omega Ratio Rank: 94
T3GB.L Calmar Ratio Rank: 91
T3GB.L Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBIL.L vs. T3GB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPM BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD Acc (BBIL.L) and Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged (Dist) (T3GB.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	BBIL.L	T3GB.L	Difference
Sharpe ratio: Return per unit of total volatility	8.78	0.48	+8.30
Sortino ratio: Return per unit of downside risk	19.03	0.75	+18.28
Omega ratio: Gain probability vs. loss probability	4.08	1.08	+2.99
Calmar ratio: Return relative to maximum drawdown	56.21	0.73	+55.49
Martin ratio: Return relative to average drawdown	259.88	1.48	+258.41

BBIL.L vs. T3GB.L - Sharpe Ratio Comparison

The current BBIL.L Sharpe Ratio is 8.78, which is higher than the T3GB.L Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of BBIL.L and T3GB.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BBIL.L vs. T3GB.L - Drawdown Comparison

The maximum BBIL.L drawdown since its inception was -0.29%, smaller than the maximum T3GB.L drawdown of -29.14%. Use the drawdown chart below to compare losses from any high point for BBIL.L and T3GB.L.

Drawdown Indicators

	BBIL.L	T3GB.L	Difference
Max Drawdown Largest peak-to-trough decline	-0.29%	-29.14%	+28.85%
Max Drawdown (1Y) Largest decline over 1 year	-0.07%	-4.59%	+4.52%
Max Drawdown (3Y) Largest decline over 3 years	-0.10%	-9.45%	+9.35%
Max Drawdown (5Y) Largest decline over 5 years	-0.23%	-27.85%	+27.62%
Current Drawdown Current decline from peak	-0.02%	-2.10%	+2.08%
Average Drawdown Average peak-to-trough decline	-0.03%	-7.75%	+7.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	2.26%	-2.25%

Volatility

BBIL.L vs. T3GB.L - Volatility Comparison

The current volatility for JPM BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD Acc (BBIL.L) is 0.09%, while Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged (Dist) (T3GB.L) has a volatility of 1.79%. This indicates that BBIL.L experiences smaller price fluctuations and is considered to be less risky than T3GB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBIL.L	T3GB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.09%	1.79%	-1.70%
Volatility (6M) Calculated over the trailing 6-month period	0.31%	5.28%	-4.97%
Volatility (1Y) Calculated over the trailing 1-year period	0.43%	7.01%	-6.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.39%	9.24%	-8.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.37%	9.34%	-8.97%

BBIL.L vs. T3GB.L - Expense Ratio Comparison

Both BBIL.L and T3GB.L have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

BBIL.L vs. T3GB.L - Dividend Comparison

BBIL.L has not paid dividends to shareholders, while T3GB.L's dividend yield for the trailing twelve months is around 3.84%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BBIL.L JPM BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
T3GB.L Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged (Dist)	3.84%	3.95%	4.36%	4.05%	1.98%	0.28%	1.15%	0.81%

Frequently Asked Questions

Can I hold both BBIL.L and T3GB.L in my portfolio?

BBIL.L and T3GB.L have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BBIL.L or T3GB.L?

Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BBIL.L or T3GB.L?

BBIL.L and T3GB.L have the same expense ratio: 0.10% per year.

What is the main difference between BBIL.L and T3GB.L?

BBIL.L tracks ICE BofA 0-1Y US Treasury TR USD, while T3GB.L tracks Bloomberg US Treasury 1-3 Year Index. They also come from different issuers: J.P. Morgan and Invesco.