IB01.L vs. U03A.L
IB01.L (iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)) and U03A.L (iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc)) are both exchange-traded funds - IB01.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index, while U03A.L is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Bill Index. Both are passively managed. Over the past year, IB01.L returned 3.90% vs 3.90% for U03A.L. At a 0.20 correlation, their price movements are largely independent. Both charge a 0.07% expense ratio.
Performance
IB01.L vs. U03A.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IB01.L having a 1.83% return and U03A.L slightly higher at 1.90%.
IB01.L
- 1D
- 0.00%
- 1M
- 0.27%
- 6M
- 1.77%
- YTD
- 1.83%
- 1Y
- 3.90%
- 3Y*
- 4.66%
- 5Y*
- 3.29%
- 10Y*
- —
U03A.L
- 1D
- 0.00%
- 1M
- 0.28%
- 6M
- 1.82%
- YTD
- 1.90%
- 1Y
- 3.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IB01.L vs. U03A.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) | 1.83% | 3.59% |
U03A.L iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc) | 1.90% | 3.60% |
Correlation
The correlation between IB01.L and U03A.L is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2025 | 0.20 |
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Return for Risk
IB01.L vs. U03A.L — Risk / Return Rank
IB01.L
U03A.L
IB01.L vs. U03A.L - 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 iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc) (U03A.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.
| IB01.L | U03A.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.58 | ||
| Sortino ratioReturn per unit of downside risk | +19.56 | ||
| Omega ratioGain probability vs. loss probability | 8.35 | 4.64 | +3.71 |
| Calmar ratioReturn relative to maximum drawdown | 114.58 | 33.93 | +80.65 |
| Martin ratioReturn relative to average drawdown | 560.87 | 240.05 | +320.82 |
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Drawdowns
IB01.L vs. U03A.L - Drawdown Comparison
The maximum IB01.L drawdown since its inception was -1.28%, which is greater than U03A.L's maximum drawdown of -0.11%. Use the drawdown chart below to compare losses from any high point for IB01.L and U03A.L.
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Drawdown Indicators
| IB01.L | U03A.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.28% | -0.11% | -1.17% |
Max Drawdown (1Y)Largest decline over 1 year | -0.03% | -0.11% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -0.09% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -1.12% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.23% | -0.01% | -0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.02% | -0.01% |
Volatility
IB01.L vs. U03A.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) is 0.08%, while iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc) (U03A.L) has a volatility of 0.18%. This indicates that IB01.L experiences smaller price fluctuations and is considered to be less risky than U03A.L 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 | U03A.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.08% | 0.18% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 0.22% | 0.28% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.33% | 0.46% | -0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.54% | 0.51% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.78% | 0.51% | +0.27% |
IB01.L vs. U03A.L - Expense Ratio Comparison
Both IB01.L and U03A.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
IB01.L vs. U03A.L - Dividend Comparison
Neither IB01.L nor U03A.L has paid dividends to shareholders.
Frequently Asked Questions
IB01.L and U03A.L have a correlation of 0.25, 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.
IB01.L and U03A.L have the same expense ratio: 0.07% per year.
IB01.L is categorized as Government Bonds, while U03A.L is Ultrashort Bond. IB01.L tracks ICE U.S. Treasury Short Bond Index, while U03A.L tracks ICE 0-3 Month US Treasury Bill Index.
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