CU31.L vs. IBTA.L
CU31.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) and IBTA.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) are both Government Bonds funds from iShares tracking the ICE US Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, CU31.L returned 3.00%/yr vs 2.98%/yr for IBTA.L. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.07% expense ratio.
Performance
CU31.L vs. IBTA.L - Performance Comparison
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Different Trading Currencies
CU31.L is traded in GBp, while IBTA.L is traded in USD. To make them comparable, the IBTA.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with CU31.L having a 2.73% return and IBTA.L slightly higher at 2.76%.
CU31.L
- 1D
- 0.32%
- 1M
- 2.40%
- YTD
- 2.73%
- 6M
- 3.45%
- 1Y
- 6.66%
- 3Y*
- 3.04%
- 5Y*
- 3.00%
- 10Y*
- 2.05%
IBTA.L
- 1D
- 0.35%
- 1M
- 2.27%
- YTD
- 2.76%
- 6M
- 3.36%
- 1Y
- 6.47%
- 3Y*
- 3.09%
- 5Y*
- 2.98%
- 10Y*
- —
CU31.L vs. IBTA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CU31.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 2.73% | -1.98% | 5.81% | -1.58% | 7.69% | 0.60% | -0.40% | 0.29% | 7.25% | -7.57% |
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 2.76% | -2.17% | 5.89% | -1.00% | 7.69% | 0.30% | 0.11% | -0.32% | 7.41% | -7.63% |
Correlation
The correlation between CU31.L and IBTA.L is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2017 | 0.79 |
The correlation between CU31.L and IBTA.L has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.
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Return for Risk
CU31.L vs. IBTA.L — Risk / Return Rank
CU31.L
IBTA.L
CU31.L vs. IBTA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (CU31.L) and iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.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.
| CU31.L | IBTA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.18 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 1.21 | +0.26 |
| Martin ratioReturn relative to average drawdown | 3.74 | 3.33 | +0.41 |
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Drawdowns
CU31.L vs. IBTA.L - Drawdown Comparison
The maximum CU31.L drawdown since its inception was -21.14%, which is greater than IBTA.L's maximum drawdown of -18.45%. Use the drawdown chart below to compare losses from any high point for CU31.L and IBTA.L.
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Drawdown Indicators
| CU31.L | IBTA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.14% | -18.45% | -2.69% |
Max Drawdown (1Y)Largest decline over 1 year | -4.51% | -5.34% | +0.83% |
Max Drawdown (3Y)Largest decline over 3 years | -21.14% | -9.28% | -11.86% |
Max Drawdown (5Y)Largest decline over 5 years | -21.14% | -16.66% | -4.48% |
Max Drawdown (10Y)Largest decline over 10 years | -21.14% | — | — |
Current DrawdownCurrent decline from peak | -15.14% | -6.07% | -9.07% |
Average DrawdownAverage peak-to-trough decline | -8.18% | -9.00% | +0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.77% | 1.94% | -0.17% |
Volatility
CU31.L vs. IBTA.L - Volatility Comparison
iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (CU31.L) and iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) have volatilities of 1.51% and 1.56%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CU31.L | IBTA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 1.56% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 4.50% | 5.03% | -0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.19% | 6.52% | -0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.20% | 8.28% | +7.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.20% | 8.54% | +4.66% |
CU31.L vs. IBTA.L - Expense Ratio Comparison
Both CU31.L and IBTA.L have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
CU31.L vs. IBTA.L - Dividend Comparison
Neither CU31.L nor IBTA.L has paid dividends to shareholders.
Frequently Asked Questions
CU31.L and IBTA.L have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
CU31.L and IBTA.L have the same expense ratio: 0.07% per year.
Both ETFs track ICE US Treasury 1-3 Year Index.
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