BBTP.L vs. DRGG.L
BBTP.L (JPM BetaBuilders US Treasury Bond UCITS ETF - GBP Hedged (acc)) and DRGG.L (L&G China CNY Bond UCITS ETF USD (Dist)) are both Government Bonds funds - BBTP.L tracks the J.P. Morgan Government Bond Index United States while DRGG.L tracks the J.P. Morgan China Custom Liquid ESG Capped Index. Both are passively managed. Over the past 5 years, BBTP.L returned -1.35%/yr vs 2.65%/yr for DRGG.L. At a correlation of -0.11, they often move in opposite directions. BBTP.L charges 0.10%/yr vs 0.30%/yr for DRGG.L.
Performance
BBTP.L vs. DRGG.L - Performance Comparison
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Different Trading Currencies
BBTP.L is traded in GBP, while DRGG.L is traded in GBp. To make them comparable, the DRGG.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, BBTP.L achieves a -0.46% return, which is significantly lower than DRGG.L's 3.22% return.
BBTP.L
- 1D
- 0.03%
- 1M
- -0.23%
- 6M
- -0.43%
- YTD
- -0.46%
- 1Y
- 3.47%
- 3Y*
- 2.50%
- 5Y*
- -1.35%
- 10Y*
- —
DRGG.L
- 1D
- -0.64%
- 1M
- -0.78%
- 6M
- 2.97%
- YTD
- 3.22%
- 1Y
- 6.08%
- 3Y*
- 3.64%
- 5Y*
- 2.65%
- 10Y*
- —
BBTP.L vs. DRGG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BBTP.L JPM BetaBuilders US Treasury Bond UCITS ETF - GBP Hedged (acc) | -0.46% | 6.15% | 0.32% | 2.77% | -13.62% | -2.62% | 0.20% |
DRGG.L L&G China CNY Bond UCITS ETF USD (Dist) | 3.22% | -1.73% | 4.79% | -5.00% | 5.94% | 8.52% | -25.93% |
Correlation
The correlation between BBTP.L and DRGG.L is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020 | -0.11 |
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Return for Risk
BBTP.L vs. DRGG.L — Risk / Return Rank
BBTP.L
DRGG.L
BBTP.L vs. DRGG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPM BetaBuilders US Treasury Bond UCITS ETF - GBP Hedged (acc) (BBTP.L) and L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BBTP.L | DRGG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.19 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 1.78 | -0.69 |
| Martin ratioReturn relative to average drawdown | 2.96 | 5.39 | -2.43 |
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Drawdowns
BBTP.L vs. DRGG.L - Drawdown Comparison
The maximum BBTP.L drawdown since its inception was -21.54%, smaller than the maximum DRGG.L drawdown of -27.90%. Use the drawdown chart below to compare losses from any high point for BBTP.L and DRGG.L.
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Drawdown Indicators
| BBTP.L | DRGG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.54% | -27.90% | +6.36% |
Max Drawdown (1Y)Largest decline over 1 year | -3.17% | -3.40% | +0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -5.74% | -9.04% | +3.30% |
Max Drawdown (5Y)Largest decline over 5 years | -18.82% | -15.77% | -3.05% |
Current DrawdownCurrent decline from peak | -10.51% | -14.39% | +3.88% |
Average DrawdownAverage peak-to-trough decline | -9.98% | -18.79% | +8.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.13% | +0.04% |
Volatility
BBTP.L vs. DRGG.L - Volatility Comparison
The current volatility for JPM BetaBuilders US Treasury Bond UCITS ETF - GBP Hedged (acc) (BBTP.L) is 1.00%, while L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.L) has a volatility of 1.44%. This indicates that BBTP.L experiences smaller price fluctuations and is considered to be less risky than DRGG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBTP.L | DRGG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 1.44% | -0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 4.47% | -1.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 5.85% | -2.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.88% | 7.33% | -1.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.63% | 12.96% | -7.33% |
BBTP.L vs. DRGG.L - Expense Ratio Comparison
BBTP.L has a 0.10% expense ratio, which is lower than DRGG.L's 0.30% expense ratio.
Dividends
BBTP.L vs. DRGG.L - Dividend Comparison
BBTP.L has not paid dividends to shareholders, while DRGG.L's dividend yield for the trailing twelve months is around 0.87%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BBTP.L JPM BetaBuilders US Treasury Bond UCITS ETF - GBP Hedged (acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DRGG.L L&G China CNY Bond UCITS ETF USD (Dist) | 0.87% | 2.04% | 2.27% | 2.48% | 2.61% | 1.40% |
Frequently Asked Questions
BBTP.L and DRGG.L have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BBTP.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BBTP.L is cheaper with a 0.10% expense ratio, compared with 0.30% for DRGG.L.
BBTP.L tracks J.P. Morgan Government Bond Index United States, while DRGG.L tracks J.P. Morgan China Custom Liquid ESG Capped Index. They also come from different issuers: JPMorgan and L&G. Their fees differ too: 0.10% for BBTP.L and 0.30% for DRGG.L.
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