BBLB vs. BNDD

Last updated Apr 1, 2026

Compare and contrast key facts about Jpmorgan Betabuilders U.S. Treasury Bond 20+ Year ETF (BBLB) and Quadratic Deflation ETF (BNDD).

BBLB and BNDD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BBLB is a passively managed fund by JPMorgan that tracks the performance of the U.S. Treasury 20+ Year Index. It was launched on Apr 19, 2023. BNDD is an actively managed fund by Quadratic. It was launched on Sep 16, 2021.

Performance

BBLB vs. BNDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Jpmorgan Betabuilders U.S. Treasury Bond 20+ Year ETF (BBLB) and Quadratic Deflation ETF (BNDD). The values are adjusted to include any dividend payments, if applicable.

BBLB vs. BNDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BBLB Jpmorgan Betabuilders U.S. Treasury Bond 20+ Year ETF	0.38%	4.26%	-7.84%	-2.91%
BNDD Quadratic Deflation ETF	3.22%	-8.17%	-6.65%	-1.01%

Returns By Period

In the year-to-date period, BBLB achieves a 0.38% return, which is significantly lower than BNDD's 3.22% return.

BBLB

• 1D: 0.20%
• 1M: -3.88%
• YTD: 0.38%
• 6M: -0.47%
• 1Y: 0.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNDD

• 1D: -0.66%
• 1M: 0.24%
• YTD: 3.22%
• 6M: -0.19%
• 1Y: -5.11%
• 3Y*: -4.63%
• 5Y*: —
• 10Y*: —

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

BBLB vs. BNDD - Expense Ratio Comparison

BBLB has a 0.07% expense ratio, which is lower than BNDD's 1.04% expense ratio.

BNDD

Quadratic Deflation ETF

BBLB

Jpmorgan Betabuilders U.S. Treasury Bond 20+ Year ETF

Return for Risk

BBLB vs. BNDD — Risk / Return Rank

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

BBLB

BBLB Risk / Return Rank: 12
BBLB Sharpe Ratio Rank: 12
BBLB Sortino Ratio Rank: 11
BBLB Omega Ratio Rank: 11
BBLB Calmar Ratio Rank: 14
BBLB Martin Ratio Rank: 13

BNDD

BNDD Risk / Return Rank: 5
BNDD Sharpe Ratio Rank: 5
BNDD Sortino Ratio Rank: 4
BNDD Omega Ratio Rank: 4
BNDD Calmar Ratio Rank: 6
BNDD Martin Ratio Rank: 7

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.

BBLB vs. BNDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Jpmorgan Betabuilders U.S. Treasury Bond 20+ Year ETF (BBLB) and Quadratic Deflation ETF (BNDD). 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.

	BBLB	BNDD	Difference
Sharpe ratio Return per unit of total volatility	0.00	-0.41	+0.42
Sortino ratio Return per unit of downside risk	0.08	-0.48	+0.56
Omega ratio Gain probability vs. loss probability	1.01	0.94	+0.07
Calmar ratio Return relative to maximum drawdown	0.10	-0.37	+0.47
Martin ratio Return relative to average drawdown	0.20	-0.56	+0.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBLB vs. BNDD - Sharpe Ratio Comparison

The current BBLB Sharpe Ratio is 0.00, which is higher than the BNDD Sharpe Ratio of -0.41. The chart below compares the historical Sharpe Ratios of BBLB and BNDD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BBLB	BNDD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.00	-0.41	+0.42
Sharpe Ratio (All Time) Calculated using the full available price history	-0.16	-0.35	+0.20

Correlation

The correlation between BBLB and BNDD is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BBLB vs. BNDD - Dividend Comparison

BBLB's dividend yield for the trailing twelve months is around 5.15%, more than BNDD's 3.64% yield.

	TTM	2025	2024	2023	2022	2021
BBLB Jpmorgan Betabuilders U.S. Treasury Bond 20+ Year ETF	5.15%	5.03%	5.34%	2.82%	0.00%	0.00%
BNDD Quadratic Deflation ETF	3.64%	3.82%	3.85%	4.30%	43.17%	1.04%

Drawdowns

BBLB vs. BNDD - Drawdown Comparison

The maximum BBLB drawdown since its inception was -21.06%, smaller than the maximum BNDD drawdown of -30.87%. Use the drawdown chart below to compare losses from any high point for BBLB and BNDD.

Drawdown Indicators

	BBLB	BNDD	Difference
Max Drawdown Largest peak-to-trough decline	-21.06%	-30.87%	+9.81%
Max Drawdown (1Y) Largest decline over 1 year	-9.32%	-10.93%	+1.61%
Current Drawdown Current decline from peak	-8.26%	-27.28%	+19.02%
Average Drawdown Average peak-to-trough decline	-8.94%	-19.03%	+10.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.44%	7.26%	-2.82%

Volatility

BBLB vs. BNDD - Volatility Comparison

Jpmorgan Betabuilders U.S. Treasury Bond 20+ Year ETF (BBLB) has a higher volatility of 3.82% compared to Quadratic Deflation ETF (BNDD) at 3.52%. This indicates that BBLB's price experiences larger fluctuations and is considered to be riskier than BNDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBLB	BNDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.82%	3.52%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	6.62%	8.09%	-1.47%
Volatility (1Y) Calculated over the trailing 1-year period	11.34%	12.44%	-1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.09%	13.55%	+0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.09%	13.55%	+0.54%