IB01.L vs. FXB
IB01.L (iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)) and FXB (Invesco CurrencyShares® British Pound Sterling Trust) are both exchange-traded funds - IB01.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index, while FXB is a Currency fund tracking the British Pound. Both are passively managed. Over the past 5 years, IB01.L returned 3.39%/yr vs 0.78%/yr for FXB. At a 0.05 correlation, their price movements are largely independent. IB01.L charges 0.07%/yr vs 0.40%/yr for FXB.
Performance
IB01.L vs. FXB - Performance Comparison
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Returns By Period
In the year-to-date period, IB01.L achieves a 1.45% return, which is significantly higher than FXB's 0.42% return.
IB01.L
- 1D
- 0.03%
- 1M
- 0.28%
- YTD
- 1.45%
- 6M
- 1.75%
- 1Y
- 3.98%
- 3Y*
- 4.73%
- 5Y*
- 3.39%
- 10Y*
- —
FXB
- 1D
- 0.04%
- 1M
- -0.75%
- YTD
- 0.42%
- 6M
- 1.75%
- 1Y
- 1.25%
- 3Y*
- 5.47%
- 5Y*
- 0.78%
- 10Y*
- 0.05%
IB01.L vs. FXB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) | 1.45% | 4.34% | 5.25% | 4.92% | 1.08% | 0.00% | 0.88% | 2.01% |
FXB Invesco CurrencyShares® British Pound Sterling Trust | 0.42% | 10.37% | 1.35% | 8.58% | -10.45% | -1.54% | 2.87% | 1.47% |
Correlation
The correlation between IB01.L and FXB is 0.00, 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 | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2019 | 0.05 |
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Return for Risk
IB01.L vs. FXB — Risk / Return Rank
IB01.L
FXB
IB01.L vs. FXB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) and Invesco CurrencyShares® British Pound Sterling Trust (FXB). 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.
| IB01.L | FXB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +11.75 | ||
| Sortino ratioReturn per unit of downside risk | +36.64 | ||
| Omega ratioGain probability vs. loss probability | 8.02 | 1.04 | +6.98 |
| Calmar ratioReturn relative to maximum drawdown | 115.45 | 0.28 | +115.17 |
| Martin ratioReturn relative to average drawdown | 569.86 | 0.58 | +569.28 |
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
| IB01.L | FXB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 11.94 | 0.19 | +11.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 9.24 | 0.09 | +9.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.01 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.79 | -0.08 | +3.86 |
Drawdowns
IB01.L vs. FXB - Drawdown Comparison
The maximum IB01.L drawdown since its inception was -0.91%, smaller than the maximum FXB drawdown of -48.99%. Use the drawdown chart below to compare losses from any high point for IB01.L and FXB.
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Drawdown Indicators
| IB01.L | FXB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.91% | -48.99% | +48.08% |
Max Drawdown (1Y)Largest decline over 1 year | -0.03% | -4.53% | +4.50% |
Max Drawdown (3Y)Largest decline over 3 years | -0.09% | -8.44% | +8.35% |
Max Drawdown (5Y)Largest decline over 5 years | -0.29% | -24.83% | +24.54% |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.30% | — |
Current DrawdownCurrent decline from peak | 0.00% | -29.53% | +29.53% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -27.54% | +27.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 2.17% | -2.16% |
Volatility
IB01.L vs. FXB - Volatility Comparison
The current volatility for iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) is 0.10%, while Invesco CurrencyShares® British Pound Sterling Trust (FXB) has a volatility of 1.79%. This indicates that IB01.L experiences smaller price fluctuations and is considered to be less risky than FXB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IB01.L | FXB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.10% | 1.79% | -1.69% |
Volatility (6M)Calculated over the trailing 6-month period | 0.24% | 4.84% | -4.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.33% | 6.54% | -6.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.37% | 8.48% | -8.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.72% | 9.30% | -8.58% |
IB01.L vs. FXB - Expense Ratio Comparison
IB01.L has a 0.07% expense ratio, which is lower than FXB's 0.40% expense ratio.
Dividends
IB01.L vs. FXB - Dividend Comparison
IB01.L has not paid dividends to shareholders, while FXB's dividend yield for the trailing twelve months is around 2.20%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
FXB Invesco CurrencyShares® British Pound Sterling Trust | 2.20% | 2.44% | 3.25% | 2.59% | 0.29% |
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IB01.L and FXB have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IB01.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IB01.L is cheaper with a 0.07% expense ratio, compared with 0.40% for FXB.
IB01.L is categorized as Government Bonds, while FXB is Currency. IB01.L tracks ICE U.S. Treasury Short Bond Index, while FXB tracks British Pound. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.07% for IB01.L and 0.40% for FXB.
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