BBM3.L vs. IBTS.L
BBM3.L (JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc)) and IBTS.L (iShares $ Treasury Bond 1-3yr UCITS ETF) are both Government Bonds funds - BBM3.L tracks the ICE 0-3 Month US Treasury Notes & Bills Index while IBTS.L tracks the ICE U.S. Treasury 1-3 Year Bond Index. Both are passively managed. Over the past 5 years, BBM3.L returned 4.56%/yr vs 2.95%/yr for IBTS.L. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.07% expense ratio.
Performance
BBM3.L vs. IBTS.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BBM3.L achieves a 1.63% return, which is significantly higher than IBTS.L's 0.65% 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*
- —
IBTS.L
- 1D
- 0.14%
- 1M
- 1.13%
- YTD
- 0.65%
- 6M
- 0.29%
- 1Y
- 4.47%
- 3Y*
- 1.53%
- 5Y*
- 2.95%
- 10Y*
- 2.52%
BBM3.L vs. IBTS.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% |
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 0.65% | -1.91% | 5.79% | -1.41% | 7.61% | 3.84% |
Correlation
The correlation between BBM3.L and IBTS.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021 | 0.96 |
The correlation between BBM3.L and IBTS.L has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BBM3.L vs. IBTS.L — Risk / Return Rank
BBM3.L
IBTS.L
BBM3.L vs. IBTS.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 $ Treasury Bond 1-3yr UCITS ETF (IBTS.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 | IBTS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.13 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 0.99 | +0.10 |
| Martin ratioReturn relative to average drawdown | 2.71 | 2.51 | +0.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| BBM3.L | IBTS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 0.73 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.36 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.27 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.35 | +0.15 |
Drawdowns
BBM3.L vs. IBTS.L - Drawdown Comparison
The maximum BBM3.L drawdown since its inception was -15.27%, smaller than the maximum IBTS.L drawdown of -19.02%. Use the drawdown chart below to compare losses from any high point for BBM3.L and IBTS.L.
Loading charts...
Drawdown Indicators
| BBM3.L | IBTS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.27% | -19.02% | +3.75% |
Max Drawdown (1Y)Largest decline over 1 year | -4.52% | -4.51% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -9.77% | -8.89% | -0.88% |
Max Drawdown (5Y)Largest decline over 5 years | -15.27% | -16.28% | +1.01% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.02% | — |
Current DrawdownCurrent decline from peak | -5.65% | -7.51% | +1.86% |
Average DrawdownAverage peak-to-trough decline | -6.31% | -7.93% | +1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 1.78% | +0.03% |
Volatility
BBM3.L vs. IBTS.L - Volatility Comparison
JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.L) has a higher volatility of 1.89% compared to iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L) at 1.67%. This indicates that BBM3.L's price experiences larger fluctuations and is considered to be riskier than IBTS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BBM3.L | IBTS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 1.67% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 4.68% | 4.49% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.47% | 6.09% | +0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.43% | 8.09% | +0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.38% | 9.24% | -0.86% |
BBM3.L vs. IBTS.L - Expense Ratio Comparison
Both BBM3.L and IBTS.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. IBTS.L - Dividend Comparison
BBM3.L has not paid dividends to shareholders, while IBTS.L's dividend yield for the trailing twelve months is around 3.99%.
| 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% |
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 3.99% | 4.22% | 4.12% | 3.08% | 0.75% | 0.61% | 1.84% | 2.39% | 1.49% | 1.01% | 0.67% | 0.49% |
Frequently Asked Questions
With a correlation of 0.97, BBM3.L and IBTS.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 IBTS.L have the same expense ratio: 0.07% per year.
BBM3.L tracks ICE 0-3 Month US Treasury Notes & Bills Index, while IBTS.L tracks ICE U.S. Treasury 1-3 Year Bond Index. They also come from different issuers: JPMorgan and iShares.
Find the right allocation for BBM3.L and IBTS.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer