CU71.L vs. USTY.L
CU71.L (iShares USD Treasury Bond 3-7yr UCITS ETF (Acc)) and USTY.L (SPDR Bloomberg US Treasury Bond UCITS ETF) are both Government Bonds funds - CU71.L tracks the ICE U.S. Treasury 3-7 Year Bond Index while USTY.L tracks the Bloomberg US Treasury Index. Both are passively managed. Over the past 10 years, CU71.L returned 2.15%/yr vs 2.29%/yr for USTY.L. With a 0.97 correlation, they move nearly in lockstep. CU71.L charges 0.07%/yr vs 0.05%/yr for USTY.L.
Performance
CU71.L vs. USTY.L - Performance Comparison
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Different Trading Currencies
CU71.L is traded in GBp, while USTY.L is traded in GBP. To make them comparable, the USTY.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CU71.L achieves a -0.39% return, which is significantly lower than USTY.L's 0.45% return. Over the past 10 years, CU71.L has underperformed USTY.L with an annualized return of 2.15%, while USTY.L has yielded a comparatively higher 2.29% annualized return.
CU71.L
- 1D
- 0.05%
- 1M
- 0.94%
- YTD
- -0.39%
- 6M
- -1.09%
- 1Y
- 3.97%
- 3Y*
- 1.07%
- 5Y*
- 1.42%
- 10Y*
- 2.15%
USTY.L
- 1D
- 0.09%
- 1M
- 1.19%
- YTD
- 0.45%
- 6M
- -0.21%
- 1Y
- 5.82%
- 3Y*
- 1.24%
- 5Y*
- 1.33%
- 10Y*
- 2.29%
CU71.L vs. USTY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CU71.L iShares USD Treasury Bond 3-7yr UCITS ETF (Acc) | -0.39% | -0.08% | 3.77% | -1.43% | 1.45% | -1.10% | 3.33% | 2.76% | 7.03% | -7.76% |
USTY.L SPDR Bloomberg US Treasury Bond UCITS ETF | 0.45% | 0.10% | 3.36% | -1.37% | -1.66% | -0.86% | 4.57% | 4.20% | 7.22% | -6.43% |
Correlation
The correlation between CU71.L and USTY.L is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2015 | 0.97 |
The correlation between CU71.L and USTY.L has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
CU71.L vs. USTY.L — Risk / Return Rank
CU71.L
USTY.L
CU71.L vs. USTY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 3-7yr UCITS ETF (Acc) (CU71.L) and SPDR Bloomberg US Treasury Bond UCITS ETF (USTY.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.
| CU71.L | USTY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.16 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 1.11 | -0.33 |
| Martin ratioReturn relative to average drawdown | 1.94 | 3.06 | -1.12 |
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
| CU71.L | USTY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.66 | 0.91 | -0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.15 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.23 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.31 | -0.05 |
Drawdowns
CU71.L vs. USTY.L - Drawdown Comparison
The maximum CU71.L drawdown since its inception was -20.50%, smaller than the maximum USTY.L drawdown of -23.02%. Use the drawdown chart below to compare losses from any high point for CU71.L and USTY.L.
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Drawdown Indicators
| CU71.L | USTY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.50% | -23.02% | +2.52% |
Max Drawdown (1Y)Largest decline over 1 year | -5.02% | -5.20% | +0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -7.33% | -7.75% | +0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -15.69% | -16.04% | +0.35% |
Max Drawdown (10Y)Largest decline over 10 years | -20.50% | -23.02% | +2.52% |
Current DrawdownCurrent decline from peak | -13.34% | -15.76% | +2.42% |
Average DrawdownAverage peak-to-trough decline | -10.11% | -12.04% | +1.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 1.90% | +0.14% |
Volatility
CU71.L vs. USTY.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 3-7yr UCITS ETF (Acc) (CU71.L) is 1.45%, while SPDR Bloomberg US Treasury Bond UCITS ETF (USTY.L) has a volatility of 2.22%. This indicates that CU71.L experiences smaller price fluctuations and is considered to be less risky than USTY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CU71.L | USTY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 2.22% | -0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 4.32% | 4.79% | -0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.96% | 6.36% | -0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.27% | 8.77% | -0.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.55% | 10.02% | -0.47% |
CU71.L vs. USTY.L - Expense Ratio Comparison
CU71.L has a 0.07% expense ratio, which is higher than USTY.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
CU71.L vs. USTY.L - Dividend Comparison
CU71.L has not paid dividends to shareholders, while USTY.L's dividend yield for the trailing twelve months is around 4.88%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CU71.L iShares USD Treasury Bond 3-7yr UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USTY.L SPDR Bloomberg US Treasury Bond UCITS ETF | 4.88% | 4.61% | 3.81% | 2.81% | 1.57% | 1.31% | 2.49% | 2.79% | 2.11% | 2.11% | 1.66% |
Frequently Asked Questions
With a correlation of 0.93, CU71.L and USTY.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, USTY.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USTY.L is cheaper with a 0.05% expense ratio, compared with 0.07% for CU71.L.
CU71.L tracks ICE U.S. Treasury 3-7 Year Bond Index, while USTY.L tracks Bloomberg US Treasury Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.07% for CU71.L and 0.05% for USTY.L.
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