BBM3.L vs. IBTL.L
BBM3.L (JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc)) and IBTL.L (iShares USD Treasury Bond 20+yr UCITS ETF (Dist)) are both Government Bonds funds - BBM3.L tracks the ICE 0-3 Month US Treasury Notes & Bills Index while IBTL.L tracks the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 5 years, BBM3.L returned 4.56%/yr vs -5.05%/yr for IBTL.L. At a 0.32 correlation, their price movements are largely independent. Both charge a 0.07% expense ratio.
Performance
BBM3.L vs. IBTL.L - Performance Comparison
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Different Trading Currencies
BBM3.L is traded in GBP, while IBTL.L is traded in GBp. To make them comparable, the IBTL.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, BBM3.L achieves a 1.63% return, which is significantly higher than IBTL.L's -0.57% return.
BBM3.L
- 1D
- 0.09%
- 1M
- 1.32%
- YTD
- 1.63%
- 6M
- 1.18%
- 1Y
- 4.93%
- 3Y*
- 1.97%
- 5Y*
- 4.56%
- 10Y*
- —
IBTL.L
- 1D
- 0.45%
- 1M
- 1.68%
- YTD
- -0.57%
- 6M
- -1.69%
- 1Y
- 5.17%
- 3Y*
- -4.08%
- 5Y*
- -5.05%
- 10Y*
- -0.77%
BBM3.L vs. IBTL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) | 1.63% | -2.96% | 7.04% | -0.79% | 13.68% | 4.38% |
IBTL.L iShares USD Treasury Bond 20+yr UCITS ETF (Dist) | -0.57% | -2.80% | -5.50% | -3.62% | -22.17% | 11.48% |
Correlation
The correlation between BBM3.L and IBTL.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021 | 0.32 |
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Return for Risk
BBM3.L vs. IBTL.L — Risk / Return Rank
BBM3.L
IBTL.L
BBM3.L vs. IBTL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.L) and iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IBTL.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.
| BBM3.L | IBTL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.09 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 0.62 | +0.46 |
| Martin ratioReturn relative to average drawdown | 2.71 | 1.35 | +1.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BBM3.L | IBTL.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 0.54 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | -0.33 | +0.87 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.05 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | -0.03 | +0.53 |
Drawdowns
BBM3.L vs. IBTL.L - Drawdown Comparison
The maximum BBM3.L drawdown since its inception was -15.27%, smaller than the maximum IBTL.L drawdown of -48.85%. Use the drawdown chart below to compare losses from any high point for BBM3.L and IBTL.L.
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Drawdown Indicators
| BBM3.L | IBTL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.27% | -48.85% | +33.58% |
Max Drawdown (1Y)Largest decline over 1 year | -4.52% | -8.25% | +3.73% |
Max Drawdown (3Y)Largest decline over 3 years | -9.77% | -17.70% | +7.93% |
Max Drawdown (5Y)Largest decline over 5 years | -15.27% | -39.35% | +24.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.85% | — |
Current DrawdownCurrent decline from peak | -5.65% | -45.21% | +39.56% |
Average DrawdownAverage peak-to-trough decline | -6.31% | -23.75% | +17.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 3.82% | -2.01% |
Volatility
BBM3.L vs. IBTL.L - Volatility Comparison
The current volatility for JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.L) is 1.89%, while iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IBTL.L) has a volatility of 2.45%. This indicates that BBM3.L experiences smaller price fluctuations and is considered to be less risky than IBTL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBM3.L | IBTL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 2.45% | -0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 4.68% | 6.48% | -1.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.47% | 9.53% | -3.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.43% | 15.49% | -7.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.38% | 16.54% | -8.16% |
BBM3.L vs. IBTL.L - Expense Ratio Comparison
Both BBM3.L and IBTL.L have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
BBM3.L vs. IBTL.L - Dividend Comparison
BBM3.L has not paid dividends to shareholders, while IBTL.L's dividend yield for the trailing twelve months is around 4.34%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBTL.L iShares USD Treasury Bond 20+yr UCITS ETF (Dist) | 4.34% | 4.32% | 4.59% | 3.78% | 2.96% | 1.72% | 1.86% | 2.54% | 2.75% | 2.66% | 2.44% | 2.07% |
Frequently Asked Questions
BBM3.L and IBTL.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
BBM3.L and IBTL.L have the same expense ratio: 0.07% per year.
BBM3.L tracks ICE 0-3 Month US Treasury Notes & Bills Index, while IBTL.L tracks ICE U.S. Treasury 20+ Year Bond Index. They also come from different issuers: JPMorgan and iShares.
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