FEUI.L vs. IBTU.L
FEUI.L (Fidelity Europe Quality Income UCITS ETF) and IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) are both exchange-traded funds - FEUI.L is a Europe Equities fund tracking the MSCI Europe High Div Yld NR EUR, while IBTU.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, FEUI.L returned 7.70%/yr vs 4.25%/yr for IBTU.L. At a correlation of -0.06, they often move in opposite directions. FEUI.L charges 0.30%/yr vs 0.07%/yr for IBTU.L.
Performance
FEUI.L vs. IBTU.L - Performance Comparison
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Different Trading Currencies
FEUI.L is traded in GBP, while IBTU.L is traded in USD. To make them comparable, the IBTU.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, FEUI.L achieves a 8.10% return, which is significantly higher than IBTU.L's 1.80% return.
FEUI.L
- 1D
- 0.00%
- 1M
- 2.96%
- YTD
- 8.10%
- 6M
- 8.65%
- 1Y
- 19.32%
- 3Y*
- 13.49%
- 5Y*
- 7.70%
- 10Y*
- —
IBTU.L
- 1D
- -0.07%
- 1M
- -0.48%
- YTD
- 1.80%
- 6M
- 1.48%
- 1Y
- 5.15%
- 3Y*
- 3.08%
- 5Y*
- 4.25%
- 10Y*
- —
FEUI.L vs. IBTU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FEUI.L Fidelity Europe Quality Income UCITS ETF | 8.10% | 23.83% | 1.23% | 15.49% | -11.03% | 17.17% | 2.81% | -7.35% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 1.80% | -3.10% | 7.15% | -0.33% | 13.06% | 1.04% | -2.08% | -6.88% |
Correlation
The correlation between FEUI.L and IBTU.L is -0.12, 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 | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2019 | -0.06 |
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Return for Risk
FEUI.L vs. IBTU.L — Risk / Return Rank
FEUI.L
IBTU.L
FEUI.L vs. IBTU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Europe Quality Income UCITS ETF (FEUI.L) and iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.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.
| FEUI.L | IBTU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.81 | ||
| Sortino ratioReturn per unit of downside risk | +1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.13 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 1.02 | +0.99 |
| Martin ratioReturn relative to average drawdown | 6.51 | 2.73 | +3.78 |
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Drawdowns
FEUI.L vs. IBTU.L - Drawdown Comparison
The maximum FEUI.L drawdown since its inception was -30.39%, which is greater than IBTU.L's maximum drawdown of -19.03%. Use the drawdown chart below to compare losses from any high point for FEUI.L and IBTU.L.
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Drawdown Indicators
| FEUI.L | IBTU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.39% | -19.03% | -11.36% |
Max Drawdown (1Y)Largest decline over 1 year | -9.58% | -5.03% | -4.55% |
Max Drawdown (3Y)Largest decline over 3 years | -12.80% | -9.76% | -3.04% |
Max Drawdown (5Y)Largest decline over 5 years | -23.03% | -15.83% | -7.20% |
Current DrawdownCurrent decline from peak | -0.92% | -6.02% | +5.10% |
Average DrawdownAverage peak-to-trough decline | -6.36% | -9.23% | +2.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 1.88% | +1.08% |
Volatility
FEUI.L vs. IBTU.L - Volatility Comparison
Fidelity Europe Quality Income UCITS ETF (FEUI.L) has a higher volatility of 2.96% compared to iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) at 1.44%. This indicates that FEUI.L's price experiences larger fluctuations and is considered to be riskier than IBTU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEUI.L | IBTU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.96% | 1.44% | +1.52% |
Volatility (6M)Calculated over the trailing 6-month period | 9.89% | 4.89% | +5.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.20% | 6.70% | +5.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.21% | 8.47% | +5.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.30% | 8.74% | +7.56% |
FEUI.L vs. IBTU.L - Expense Ratio Comparison
FEUI.L has a 0.30% expense ratio, which is higher than IBTU.L's 0.07% expense ratio.
Dividends
FEUI.L vs. IBTU.L - Dividend Comparison
FEUI.L's dividend yield for the trailing twelve months is around 3.48%, less than IBTU.L's 4.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FEUI.L Fidelity Europe Quality Income UCITS ETF | 3.48% | 3.02% | 3.63% | 3.66% | 3.71% | 2.93% | 2.53% | 0.27% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.07% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% |
Frequently Asked Questions
FEUI.L and IBTU.L have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTU.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTU.L is cheaper with a 0.07% expense ratio, compared with 0.30% for FEUI.L.
FEUI.L is categorized as Europe Equities, while IBTU.L is Government Bonds. FEUI.L tracks MSCI Europe High Div Yld NR EUR, while IBTU.L tracks ICE U.S. Treasury Short Bond Index. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.30% for FEUI.L and 0.07% for IBTU.L.
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