BBM3.L vs. U10C.L
BBM3.L (JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc)) and U10C.L (Amundi US Treasury Bond 10+Y UCITS ETF Acc) are both Government Bonds funds - BBM3.L tracks the ICE 0-3 Month US Treasury Notes & Bills Index while U10C.L tracks the Bloomberg US Long Treasury Index. Both are passively managed. Over the past 3 years, BBM3.L returned 1.97%/yr vs -3.13%/yr for U10C.L. At a 0.24 correlation, their price movements are largely independent. BBM3.L charges 0.07%/yr vs 0.06%/yr for U10C.L.
Performance
BBM3.L vs. U10C.L - Performance Comparison
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Different Trading Currencies
BBM3.L is traded in GBP, while U10C.L is traded in USD. To make them comparable, the U10C.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 U10C.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*
- —
U10C.L
- 1D
- 0.35%
- 1M
- 1.55%
- YTD
- -0.65%
- 6M
- -1.67%
- 1Y
- 5.23%
- 3Y*
- -3.13%
- 5Y*
- —
- 10Y*
- —
BBM3.L vs. U10C.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% | 2.07% |
U10C.L Amundi US Treasury Bond 10+Y UCITS ETF Acc | -0.65% | -2.01% | -4.06% | -2.52% | -19.94% | 0.31% |
Correlation
The correlation between BBM3.L and U10C.L is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2021 | 0.24 |
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Return for Risk
BBM3.L vs. U10C.L — Risk / Return Rank
BBM3.L
U10C.L
BBM3.L vs. U10C.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 Amundi US Treasury Bond 10+Y UCITS ETF Acc (U10C.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 | U10C.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| 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 | 0.67 | +0.41 |
| Martin ratioReturn relative to average drawdown | 2.71 | 1.45 | +1.26 |
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 | U10C.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 0.55 | +0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | -0.43 | +0.93 |
Drawdowns
BBM3.L vs. U10C.L - Drawdown Comparison
The maximum BBM3.L drawdown since its inception was -15.27%, smaller than the maximum U10C.L drawdown of -35.95%. Use the drawdown chart below to compare losses from any high point for BBM3.L and U10C.L.
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Drawdown Indicators
| BBM3.L | U10C.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.27% | -35.95% | +20.68% |
Max Drawdown (1Y)Largest decline over 1 year | -4.52% | -7.74% | +3.22% |
Max Drawdown (3Y)Largest decline over 3 years | -9.77% | -15.54% | +5.77% |
Max Drawdown (5Y)Largest decline over 5 years | -15.27% | — | — |
Current DrawdownCurrent decline from peak | -5.65% | -31.12% | +25.47% |
Average DrawdownAverage peak-to-trough decline | -6.31% | -24.71% | +18.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 3.60% | -1.79% |
Volatility
BBM3.L vs. U10C.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 Amundi US Treasury Bond 10+Y UCITS ETF Acc (U10C.L) has a volatility of 3.00%. This indicates that BBM3.L experiences smaller price fluctuations and is considered to be less risky than U10C.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 | U10C.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 3.00% | -1.11% |
Volatility (6M)Calculated over the trailing 6-month period | 4.68% | 7.09% | -2.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.47% | 9.45% | -2.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.43% | 14.91% | -6.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.38% | 14.91% | -6.53% |
BBM3.L vs. U10C.L - Expense Ratio Comparison
BBM3.L has a 0.07% expense ratio, which is higher than U10C.L's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BBM3.L vs. U10C.L - Dividend Comparison
Neither BBM3.L nor U10C.L has paid dividends to shareholders.
Frequently Asked Questions
BBM3.L and U10C.L have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, U10C.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
U10C.L is cheaper with a 0.06% expense ratio, compared with 0.07% for BBM3.L.
BBM3.L tracks ICE 0-3 Month US Treasury Notes & Bills Index, while U10C.L tracks Bloomberg US Long Treasury Index. They also come from different issuers: JPMorgan and Amundi. Their fees differ too: 0.07% for BBM3.L and 0.06% for U10C.L.
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