BBM3.L vs. VDTA.L
BBM3.L (JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc)) and VDTA.L (Vanguard USD Treasury Bond UCITS ETF Accumulating) are both Government Bonds funds - BBM3.L tracks the ICE 0-3 Month US Treasury Notes & Bills Index while VDTA.L tracks the Bloomberg Global Aggregate US Treasury Float Adjusted index. Both are passively managed. Over the past 5 years, BBM3.L returned 4.56%/yr vs 0.67%/yr for VDTA.L. A 0.59 correlation means they provide meaningful diversification when combined. BBM3.L charges 0.07%/yr vs 0.05%/yr for VDTA.L.
Performance
BBM3.L vs. VDTA.L - Performance Comparison
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Different Trading Currencies
BBM3.L is traded in GBP, while VDTA.L is traded in USD. To make them comparable, the VDTA.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 VDTA.L's 0.18% 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*
- —
VDTA.L
- 1D
- 0.21%
- 1M
- 1.08%
- YTD
- 0.18%
- 6M
- -0.59%
- 1Y
- 4.61%
- 3Y*
- 0.29%
- 5Y*
- 0.67%
- 10Y*
- —
BBM3.L vs. VDTA.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% |
VDTA.L Vanguard USD Treasury Bond UCITS ETF Accumulating | 0.18% | -1.32% | 2.70% | -1.47% | -1.95% | 4.94% |
Correlation
The correlation between BBM3.L and VDTA.L is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021 | 0.59 |
The correlation between BBM3.L and VDTA.L has been stable across timeframes, ranging from 0.55 to 0.60 - a consistent structural relationship.
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Return for Risk
BBM3.L vs. VDTA.L — Risk / Return Rank
BBM3.L
VDTA.L
BBM3.L vs. VDTA.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 Vanguard USD Treasury Bond UCITS ETF Accumulating (VDTA.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 | VDTA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.13 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 0.79 | +0.30 |
| Martin ratioReturn relative to average drawdown | 2.71 | 1.96 | +0.75 |
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 | VDTA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 0.70 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.07 | +0.47 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.08 | +0.42 |
Drawdowns
BBM3.L vs. VDTA.L - Drawdown Comparison
The maximum BBM3.L drawdown since its inception was -15.27%, smaller than the maximum VDTA.L drawdown of -22.99%. Use the drawdown chart below to compare losses from any high point for BBM3.L and VDTA.L.
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Drawdown Indicators
| BBM3.L | VDTA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.27% | -22.99% | +7.72% |
Max Drawdown (1Y)Largest decline over 1 year | -4.52% | -5.83% | +1.31% |
Max Drawdown (3Y)Largest decline over 3 years | -9.77% | -8.53% | -1.24% |
Max Drawdown (5Y)Largest decline over 5 years | -15.27% | -16.79% | +1.52% |
Current DrawdownCurrent decline from peak | -5.65% | -17.88% | +12.23% |
Average DrawdownAverage peak-to-trough decline | -6.31% | -14.97% | +8.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 2.34% | -0.53% |
Volatility
BBM3.L vs. VDTA.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 Vanguard USD Treasury Bond UCITS ETF Accumulating (VDTA.L) at 1.78%. This indicates that BBM3.L's price experiences larger fluctuations and is considered to be riskier than VDTA.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 | VDTA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 1.78% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 4.68% | 5.10% | -0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.47% | 6.53% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.43% | 9.00% | -0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.38% | 9.44% | -1.06% |
BBM3.L vs. VDTA.L - Expense Ratio Comparison
BBM3.L has a 0.07% expense ratio, which is higher than VDTA.L's 0.05% 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. VDTA.L - Dividend Comparison
Neither BBM3.L nor VDTA.L has paid dividends to shareholders.
Frequently Asked Questions
BBM3.L and VDTA.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VDTA.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VDTA.L is cheaper with a 0.05% expense ratio, compared with 0.07% for BBM3.L.
BBM3.L tracks ICE 0-3 Month US Treasury Notes & Bills Index, while VDTA.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted index. They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.07% for BBM3.L and 0.05% for VDTA.L.
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