BBRT.L vs. TR3G.L
BBRT.L (JPMorgan BetaBuilders US Treasury Bond UCITS ETF USD (Acc)) and TR3G.L (Invesco US Treasury Bond 1-3 Year UCITS ETF Dist) are both Government Bonds funds - BBRT.L tracks the J.P. Morgan Government Bond US Index while TR3G.L tracks the Bloomberg US 1-3 Year Treasury Bond Index. Both are passively managed. Over the past 5 years, BBRT.L returned 0.50%/yr vs 2.93%/yr for TR3G.L. Their correlation of 0.86 suggests significant overlap in exposure. BBRT.L charges 0.07%/yr vs 0.06%/yr for TR3G.L.
Performance
BBRT.L vs. TR3G.L - Performance Comparison
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Different Trading Currencies
BBRT.L is traded in GBP, while TR3G.L is traded in GBp. To make them comparable, the TR3G.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, BBRT.L achieves a -0.18% return, which is significantly lower than TR3G.L's 0.69% return.
BBRT.L
- 1D
- 0.22%
- 1M
- 1.14%
- YTD
- -0.18%
- 6M
- -0.65%
- 1Y
- 4.56%
- 3Y*
- 0.09%
- 5Y*
- 0.50%
- 10Y*
- —
TR3G.L
- 1D
- 0.13%
- 1M
- 1.13%
- YTD
- 0.69%
- 6M
- 0.31%
- 1Y
- 4.42%
- 3Y*
- 1.51%
- 5Y*
- 2.93%
- 10Y*
- —
BBRT.L vs. TR3G.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BBRT.L JPMorgan BetaBuilders US Treasury Bond UCITS ETF USD (Acc) | -0.18% | -0.87% | 2.21% | -1.99% | -2.50% | -1.20% | 4.45% | 3.80% |
TR3G.L Invesco US Treasury Bond 1-3 Year UCITS ETF Dist | 0.69% | -1.98% | 5.82% | -1.57% | 7.69% | 0.63% | -0.33% | 1.17% |
Correlation
The correlation between BBRT.L and TR3G.L is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since May 8, 2019 | 0.86 |
The correlation between BBRT.L and TR3G.L has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.
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Return for Risk
BBRT.L vs. TR3G.L — Risk / Return Rank
BBRT.L
TR3G.L
BBRT.L vs. TR3G.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders US Treasury Bond UCITS ETF USD (Acc) (BBRT.L) and Invesco US Treasury Bond 1-3 Year UCITS ETF Dist (TR3G.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.
| BBRT.L | TR3G.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.13 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 0.98 | -0.11 |
| Martin ratioReturn relative to average drawdown | 2.05 | 2.48 | -0.42 |
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
| BBRT.L | TR3G.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.74 | 0.73 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | 0.36 | -0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | 0.18 | -0.13 |
Drawdowns
BBRT.L vs. TR3G.L - Drawdown Comparison
The maximum BBRT.L drawdown since its inception was -24.57%, which is greater than TR3G.L's maximum drawdown of -18.79%. Use the drawdown chart below to compare losses from any high point for BBRT.L and TR3G.L.
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Drawdown Indicators
| BBRT.L | TR3G.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.57% | -18.79% | -5.78% |
Max Drawdown (1Y)Largest decline over 1 year | -5.22% | -4.52% | -0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -8.23% | -8.90% | +0.67% |
Max Drawdown (5Y)Largest decline over 5 years | -16.20% | -16.36% | +0.16% |
Current DrawdownCurrent decline from peak | -19.97% | -7.63% | -12.34% |
Average DrawdownAverage peak-to-trough decline | -16.82% | -9.79% | -7.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 1.78% | +0.43% |
Volatility
BBRT.L vs. TR3G.L - Volatility Comparison
The current volatility for JPMorgan BetaBuilders US Treasury Bond UCITS ETF USD (Acc) (BBRT.L) is 1.49%, while Invesco US Treasury Bond 1-3 Year UCITS ETF Dist (TR3G.L) has a volatility of 1.70%. This indicates that BBRT.L experiences smaller price fluctuations and is considered to be less risky than TR3G.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBRT.L | TR3G.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | 1.70% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 4.49% | 4.44% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.10% | 6.07% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.83% | 8.07% | +0.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.57% | 8.64% | +0.93% |
BBRT.L vs. TR3G.L - Expense Ratio Comparison
BBRT.L has a 0.07% expense ratio, which is higher than TR3G.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
BBRT.L vs. TR3G.L - Dividend Comparison
BBRT.L has not paid dividends to shareholders, while TR3G.L's dividend yield for the trailing twelve months is around 3.95%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BBRT.L JPMorgan BetaBuilders US Treasury Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TR3G.L Invesco US Treasury Bond 1-3 Year UCITS ETF Dist | 3.95% | 4.10% | 4.31% | 4.18% | 1.99% | 0.31% | 1.28% | 2.01% |
Frequently Asked Questions
BBRT.L and TR3G.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TR3G.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TR3G.L is cheaper with a 0.06% expense ratio, compared with 0.07% for BBRT.L.
BBRT.L tracks J.P. Morgan Government Bond US Index, while TR3G.L tracks Bloomberg US 1-3 Year Treasury Bond Index. They also come from different issuers: JPMorgan and Invesco. Their fees differ too: 0.07% for BBRT.L and 0.06% for TR3G.L.
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