BBTR.L vs. USFR.L
BBTR.L (JPM BetaBuilders US Treasury Bond UCITS ETF - USD (acc)) and USFR.L (WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD) are both Government Bonds funds - BBTR.L tracks the J.P. Morgan Government Bond Index United States while USFR.L tracks the Bloomberg US Treasury Floating Rate Bond Index. Both are passively managed. Over the past 5 years, BBTR.L returned -0.89%/yr vs 3.91%/yr for USFR.L. At a 0.01 correlation, their price movements are largely independent. BBTR.L charges 0.07%/yr vs 0.15%/yr for USFR.L.
Performance
BBTR.L vs. USFR.L - Performance Comparison
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Returns By Period
In the year-to-date period, BBTR.L achieves a -0.46% return, which is significantly lower than USFR.L's 2.98% return.
BBTR.L
- 1D
- 0.30%
- 1M
- -0.33%
- 6M
- -0.53%
- YTD
- -0.46%
- 1Y
- 3.52%
- 3Y*
- 2.77%
- 5Y*
- -0.89%
- 10Y*
- —
USFR.L
- 1D
- 0.04%
- 1M
- 1.27%
- 6M
- 2.83%
- YTD
- 2.98%
- 1Y
- 4.86%
- 3Y*
- 5.01%
- 5Y*
- 3.91%
- 10Y*
- —
BBTR.L vs. USFR.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BBTR.L JPM BetaBuilders US Treasury Bond UCITS ETF - USD (acc) | -0.46% | 6.32% | 0.61% | 3.69% | -12.92% | -2.48% | 8.16% | 5.34% |
USFR.L WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD | 2.98% | 4.17% | 5.46% | 4.95% | 2.06% | -0.16% | 0.58% | 1.20% |
Correlation
The correlation between BBTR.L and USFR.L is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since May 3, 2019 | 0.01 |
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Return for Risk
BBTR.L vs. USFR.L — Risk / Return Rank
BBTR.L
USFR.L
BBTR.L vs. USFR.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPM BetaBuilders US Treasury Bond UCITS ETF - USD (acc) (BBTR.L) and WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD (USFR.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.
| BBTR.L | USFR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.80 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | 1.04 | 3.85 | -2.81 |
| Martin ratioReturn relative to average drawdown | 2.86 | 41.80 | -38.94 |
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Drawdowns
BBTR.L vs. USFR.L - Drawdown Comparison
The maximum BBTR.L drawdown since its inception was -20.19%, which is greater than USFR.L's maximum drawdown of -2.99%. Use the drawdown chart below to compare losses from any high point for BBTR.L and USFR.L.
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Drawdown Indicators
| BBTR.L | USFR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.19% | -2.99% | -17.20% |
Max Drawdown (1Y)Largest decline over 1 year | -3.14% | -1.26% | -1.88% |
Max Drawdown (3Y)Largest decline over 3 years | -5.66% | -1.75% | -3.91% |
Max Drawdown (5Y)Largest decline over 5 years | -17.54% | -1.75% | -15.79% |
Current DrawdownCurrent decline from peak | -8.35% | 0.00% | -8.35% |
Average DrawdownAverage peak-to-trough decline | -8.97% | -0.09% | -8.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 0.12% | +1.03% |
Volatility
BBTR.L vs. USFR.L - Volatility Comparison
JPM BetaBuilders US Treasury Bond UCITS ETF - USD (acc) (BBTR.L) has a higher volatility of 1.00% compared to WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD (USFR.L) at 0.89%. This indicates that BBTR.L's price experiences larger fluctuations and is considered to be riskier than USFR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBTR.L | USFR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 0.89% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 1.22% | +1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.73% | 2.55% | +1.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.87% | 2.77% | +3.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.90% | 2.70% | +3.20% |
BBTR.L vs. USFR.L - Expense Ratio Comparison
BBTR.L has a 0.07% expense ratio, which is lower than USFR.L's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BBTR.L vs. USFR.L - Dividend Comparison
BBTR.L has not paid dividends to shareholders, while USFR.L's dividend yield for the trailing twelve months is around 4.73%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BBTR.L JPM BetaBuilders US Treasury Bond UCITS ETF - USD (acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USFR.L WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD | 4.73% | 4.32% | 5.24% | 4.58% | 0.78% | 0.00% | 0.57% | 1.09% |
Frequently Asked Questions
BBTR.L and USFR.L have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BBTR.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BBTR.L is cheaper with a 0.07% expense ratio, compared with 0.15% for USFR.L.
BBTR.L tracks J.P. Morgan Government Bond Index United States, while USFR.L tracks Bloomberg US Treasury Floating Rate Bond Index. They also come from different issuers: JPMorgan and WisdomTree. Their fees differ too: 0.07% for BBTR.L and 0.15% for USFR.L.
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