BBM3.L vs. VUTY.L
BBM3.L (JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc)) and VUTY.L (Vanguard USD Treasury Bond UCITS ETF Distributing) are both Government Bonds funds - BBM3.L tracks the ICE 0-3 Month US Treasury Notes & Bills Index while VUTY.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 0.61%/yr for VUTY.L. A 0.77 correlation means they provide meaningful diversification when combined. BBM3.L charges 0.07%/yr vs 0.05%/yr for VUTY.L.
Performance
BBM3.L vs. VUTY.L - Performance Comparison
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Returns By Period
In the year-to-date period, BBM3.L achieves a 1.63% return, which is significantly higher than VUTY.L's -0.16% 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*
- —
VUTY.L
- 1D
- 0.07%
- 1M
- 0.92%
- YTD
- -0.16%
- 6M
- -0.74%
- 1Y
- 4.32%
- 3Y*
- 0.23%
- 5Y*
- 0.61%
- 10Y*
- 1.68%
BBM3.L vs. VUTY.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% |
VUTY.L Vanguard USD Treasury Bond UCITS ETF Distributing | -0.16% | -1.13% | 2.55% | -1.94% | -1.87% | 4.93% |
Correlation
The correlation between BBM3.L and VUTY.L is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021 | 0.77 |
The correlation between BBM3.L and VUTY.L has been stable across timeframes, ranging from 0.74 to 0.82 - a consistent structural relationship.
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Return for Risk
BBM3.L vs. VUTY.L — Risk / Return Rank
BBM3.L
VUTY.L
BBM3.L vs. VUTY.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 Distributing (VUTY.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 | VUTY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.13 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 0.83 | +0.26 |
| Martin ratioReturn relative to average drawdown | 2.71 | 1.98 | +0.73 |
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 | VUTY.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 | 0.07 | +0.47 |
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 | +0.38 |
Drawdowns
BBM3.L vs. VUTY.L - Drawdown Comparison
The maximum BBM3.L drawdown since its inception was -15.27%, smaller than the maximum VUTY.L drawdown of -22.63%. Use the drawdown chart below to compare losses from any high point for BBM3.L and VUTY.L.
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Drawdown Indicators
| BBM3.L | VUTY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.27% | -22.63% | +7.36% |
Max Drawdown (1Y)Largest decline over 1 year | -4.52% | -5.25% | +0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -9.77% | -8.27% | -1.50% |
Max Drawdown (5Y)Largest decline over 5 years | -15.27% | -16.17% | +0.90% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.63% | — |
Current DrawdownCurrent decline from peak | -5.65% | -17.85% | +12.20% |
Average DrawdownAverage peak-to-trough decline | -6.31% | -12.63% | +6.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 2.20% | -0.39% |
Volatility
BBM3.L vs. VUTY.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 Distributing (VUTY.L) at 1.43%. This indicates that BBM3.L's price experiences larger fluctuations and is considered to be riskier than VUTY.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 | VUTY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 1.43% | +0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 4.68% | 4.36% | +0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.47% | 5.96% | +0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.43% | 8.71% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.38% | 10.00% | -1.62% |
BBM3.L vs. VUTY.L - Expense Ratio Comparison
BBM3.L has a 0.07% expense ratio, which is higher than VUTY.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. VUTY.L - Dividend Comparison
BBM3.L has not paid dividends to shareholders, while VUTY.L's dividend yield for the trailing twelve months is around 4.27%.
| 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% |
VUTY.L Vanguard USD Treasury Bond UCITS ETF Distributing | 4.27% | 4.40% | 4.00% | 3.47% | 2.06% | 1.19% | 1.64% | 2.42% | 2.24% | 1.64% | 0.92% |
Frequently Asked Questions
BBM3.L and VUTY.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUTY.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUTY.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 VUTY.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 VUTY.L.
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