BBTP.L vs. VUTA.L
BBTP.L (JPM BetaBuilders US Treasury Bond UCITS ETF - GBP Hedged (acc)) and VUTA.L (Vanguard USD Treasury Bond UCITS ETF Accumulating) are both Government Bonds funds - BBTP.L tracks the J.P. Morgan Government Bond Index United States while VUTA.L tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index. Both are passively managed. Over the past 5 years, BBTP.L returned -1.35%/yr vs -0.27%/yr for VUTA.L. At a 0.40 correlation, their price movements are largely independent. BBTP.L charges 0.10%/yr vs 0.05%/yr for VUTA.L.
Performance
BBTP.L vs. VUTA.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with BBTP.L having a -0.46% return and VUTA.L slightly higher at -0.45%.
BBTP.L
- 1D
- 0.03%
- 1M
- -0.23%
- 6M
- -0.43%
- YTD
- -0.46%
- 1Y
- 3.47%
- 3Y*
- 2.50%
- 5Y*
- -1.35%
- 10Y*
- —
VUTA.L
- 1D
- -0.59%
- 1M
- -0.59%
- 6M
- -0.64%
- YTD
- -0.45%
- 1Y
- 2.76%
- 3Y*
- 1.93%
- 5Y*
- -0.27%
- 10Y*
- —
BBTP.L vs. VUTA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BBTP.L JPM BetaBuilders US Treasury Bond UCITS ETF - GBP Hedged (acc) | -0.46% | 6.15% | 0.32% | 2.77% | -13.62% | -2.62% | 7.48% | 3.54% |
VUTA.L Vanguard USD Treasury Bond UCITS ETF Accumulating | -0.45% | -1.12% | 2.51% | -1.91% | -1.88% | -1.09% | 3.97% | 1.63% |
Correlation
The correlation between BBTP.L and VUTA.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since May 16, 2019 | 0.40 |
Over the past year, the correlation between BBTP.L and VUTA.L has dropped to 0.18 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.
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Return for Risk
BBTP.L vs. VUTA.L — Risk / Return Rank
BBTP.L
VUTA.L
BBTP.L vs. VUTA.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 Vanguard USD Treasury Bond UCITS ETF Accumulating (VUTA.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 | VUTA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.08 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 0.53 | +0.56 |
| Martin ratioReturn relative to average drawdown | 2.96 | 1.22 | +1.74 |
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Drawdowns
BBTP.L vs. VUTA.L - Drawdown Comparison
The maximum BBTP.L drawdown since its inception was -21.54%, smaller than the maximum VUTA.L drawdown of -25.05%. Use the drawdown chart below to compare losses from any high point for BBTP.L and VUTA.L.
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Drawdown Indicators
| BBTP.L | VUTA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.54% | -25.05% | +3.51% |
Max Drawdown (1Y)Largest decline over 1 year | -3.17% | -5.19% | +2.02% |
Max Drawdown (3Y)Largest decline over 3 years | -5.74% | -21.06% | +15.32% |
Max Drawdown (5Y)Largest decline over 5 years | -18.82% | -21.06% | +2.24% |
Current DrawdownCurrent decline from peak | -10.51% | -19.48% | +8.97% |
Average DrawdownAverage peak-to-trough decline | -9.98% | -17.91% | +7.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 2.26% | -1.09% |
Volatility
BBTP.L vs. VUTA.L - Volatility Comparison
The current volatility for JPM BetaBuilders US Treasury Bond UCITS ETF - GBP Hedged (acc) (BBTP.L) is 1.00%, while Vanguard USD Treasury Bond UCITS ETF Accumulating (VUTA.L) has a volatility of 1.92%. This indicates that BBTP.L experiences smaller price fluctuations and is considered to be less risky than VUTA.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 | VUTA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 1.92% | -0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 4.50% | -1.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 6.04% | -2.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.88% | 16.62% | -10.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.63% | 17.25% | -11.62% |
BBTP.L vs. VUTA.L - Expense Ratio Comparison
BBTP.L has a 0.10% expense ratio, which is higher than VUTA.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
BBTP.L vs. VUTA.L - Dividend Comparison
Neither BBTP.L nor VUTA.L has paid dividends to shareholders.
Frequently Asked Questions
BBTP.L and VUTA.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUTA.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUTA.L is cheaper with a 0.05% expense ratio, compared with 0.10% for BBTP.L.
BBTP.L tracks J.P. Morgan Government Bond Index United States, while VUTA.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index. They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.10% for BBTP.L and 0.05% for VUTA.L.
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