BBM3.L vs. VDTY.L
BBM3.L (JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc)) and VDTY.L (Vanguard USD Treasury Bond UCITS ETF) are both Government Bonds funds - BBM3.L tracks the ICE 0-3 Month US Treasury Notes & Bills Index while VDTY.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 0.72%/yr for VDTY.L. A 0.60 correlation means they provide meaningful diversification when combined. BBM3.L charges 0.07%/yr vs 0.05%/yr for VDTY.L.
Performance
BBM3.L vs. VDTY.L - Performance Comparison
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Different Trading Currencies
BBM3.L is traded in GBP, while VDTY.L is traded in USD. To make them comparable, the VDTY.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 VDTY.L's 0.17% 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*
- —
VDTY.L
- 1D
- 0.24%
- 1M
- 1.09%
- YTD
- 0.17%
- 6M
- -0.65%
- 1Y
- 4.47%
- 3Y*
- 0.37%
- 5Y*
- 0.72%
- 10Y*
- 1.70%
BBM3.L vs. VDTY.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% |
VDTY.L Vanguard USD Treasury Bond UCITS ETF | 0.17% | -1.31% | 2.87% | -1.42% | -1.90% | 4.90% |
Correlation
The correlation between BBM3.L and VDTY.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
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 | 0.60 |
The correlation between BBM3.L and VDTY.L has been stable across timeframes, ranging from 0.56 to 0.61 - a consistent structural relationship.
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Return for Risk
BBM3.L vs. VDTY.L — Risk / Return Rank
BBM3.L
VDTY.L
BBM3.L vs. VDTY.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 (VDTY.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 | VDTY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.12 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 0.78 | +0.31 |
| Martin ratioReturn relative to average drawdown | 2.71 | 1.93 | +0.78 |
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 | VDTY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 0.69 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.08 | +0.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.17 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.13 | +0.37 |
Drawdowns
BBM3.L vs. VDTY.L - Drawdown Comparison
The maximum BBM3.L drawdown since its inception was -15.27%, smaller than the maximum VDTY.L drawdown of -22.88%. Use the drawdown chart below to compare losses from any high point for BBM3.L and VDTY.L.
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Drawdown Indicators
| BBM3.L | VDTY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.27% | -22.88% | +7.61% |
Max Drawdown (1Y)Largest decline over 1 year | -4.52% | -5.74% | +1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -9.77% | -8.56% | -1.21% |
Max Drawdown (5Y)Largest decline over 5 years | -15.27% | -16.81% | +1.54% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.88% | — |
Current DrawdownCurrent decline from peak | -5.65% | -17.56% | +11.91% |
Average DrawdownAverage peak-to-trough decline | -6.31% | -12.78% | +6.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 2.31% | -0.50% |
Volatility
BBM3.L vs. VDTY.L - Volatility Comparison
JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.L) and Vanguard USD Treasury Bond UCITS ETF (VDTY.L) have volatilities of 1.89% and 1.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBM3.L | VDTY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 1.88% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 4.68% | 5.13% | -0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.47% | 6.50% | -0.03% |
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% | 10.19% | -1.81% |
BBM3.L vs. VDTY.L - Expense Ratio Comparison
BBM3.L has a 0.07% expense ratio, which is higher than VDTY.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. VDTY.L - Dividend Comparison
BBM3.L has not paid dividends to shareholders, while VDTY.L's dividend yield for the trailing twelve months is around 4.25%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VDTY.L Vanguard USD Treasury Bond UCITS ETF | 4.25% | 4.29% | 4.31% | 3.40% | 2.09% | 1.21% | 1.54% | 2.34% | 2.33% | 1.57% | 0.99% |
Frequently Asked Questions
BBM3.L and VDTY.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VDTY.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VDTY.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 VDTY.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 VDTY.L.
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