BBM3.L vs. IBTU.L
BBM3.L (JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc)) and IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) are both Government Bonds funds - BBM3.L tracks the ICE 0-3 Month US Treasury Notes & Bills Index while IBTU.L tracks the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, BBM3.L returned 4.56%/yr vs 4.50%/yr for IBTU.L. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.07% expense ratio.
Performance
BBM3.L vs. IBTU.L - Performance Comparison
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Different Trading Currencies
BBM3.L is traded in GBP, while IBTU.L is traded in USD. To make them comparable, the IBTU.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 lower than IBTU.L's 1.80% 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*
- —
IBTU.L
- 1D
- 0.01%
- 1M
- 1.22%
- YTD
- 1.80%
- 6M
- 1.08%
- 1Y
- 4.99%
- 3Y*
- 2.11%
- 5Y*
- 4.50%
- 10Y*
- —
BBM3.L vs. IBTU.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% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 1.80% | -3.07% | 7.07% | -0.29% | 13.11% | 4.46% |
Correlation
The correlation between BBM3.L and IBTU.L is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021 | 0.81 |
The correlation between BBM3.L and IBTU.L has been stable across timeframes, ranging from 0.81 to 0.82 - a consistent structural relationship.
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Return for Risk
BBM3.L vs. IBTU.L — Risk / Return Rank
BBM3.L
IBTU.L
BBM3.L vs. IBTU.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 0-1yr UCITS ETF USD (Dist) (IBTU.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 | IBTU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.13 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 0.97 | +0.11 |
| Martin ratioReturn relative to average drawdown | 2.71 | 2.64 | +0.07 |
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 | IBTU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 0.76 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.53 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.27 | +0.24 |
Drawdowns
BBM3.L vs. IBTU.L - Drawdown Comparison
The maximum BBM3.L drawdown since its inception was -15.27%, smaller than the maximum IBTU.L drawdown of -19.01%. Use the drawdown chart below to compare losses from any high point for BBM3.L and IBTU.L.
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Drawdown Indicators
| BBM3.L | IBTU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.27% | -19.01% | +3.74% |
Max Drawdown (1Y)Largest decline over 1 year | -4.52% | -5.12% | +0.60% |
Max Drawdown (3Y)Largest decline over 3 years | -9.77% | -9.80% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -15.27% | -15.91% | +0.64% |
Current DrawdownCurrent decline from peak | -5.65% | -6.04% | +0.39% |
Average DrawdownAverage peak-to-trough decline | -6.31% | -9.25% | +2.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 1.89% | -0.08% |
Volatility
BBM3.L vs. IBTU.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 USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) at 1.75%. This indicates that BBM3.L's price experiences larger fluctuations and is considered to be riskier than IBTU.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 | IBTU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 1.75% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 4.68% | 4.96% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.47% | 6.55% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.43% | 8.45% | -0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.38% | 8.76% | -0.38% |
BBM3.L vs. IBTU.L - Expense Ratio Comparison
Both BBM3.L and IBTU.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. IBTU.L - Dividend Comparison
BBM3.L has not paid dividends to shareholders, while IBTU.L's dividend yield for the trailing twelve months is around 4.07%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
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% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.07% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% |
Frequently Asked Questions
BBM3.L and IBTU.L have a correlation of 0.81, 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 IBTU.L have the same expense ratio: 0.07% per year.
BBM3.L tracks ICE 0-3 Month US Treasury Notes & Bills Index, while IBTU.L tracks ICE U.S. Treasury Short Bond Index. They also come from different issuers: JPMorgan and iShares.
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