IBAT vs. UTWO
IBAT (iShares Energy Storage & Materials ETF) and UTWO (US Treasury 2 Year Note ETF) are both exchange-traded funds - IBAT is a Alternative Energy Equities fund tracking the STOXX Global Energy Storage and Materials, while UTWO is a Government Bonds fund tracking the ICE BofA Current 2 Year US Treasury Index - Benchmark TR Gross. Both are passively managed. Over the past year, IBAT returned 105.19% vs 3.13% for UTWO. At a 0.03 correlation, their price movements are largely independent. IBAT charges 0.47%/yr vs 0.15%/yr for UTWO.
Performance
IBAT vs. UTWO - Performance Comparison
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Returns By Period
In the year-to-date period, IBAT achieves a 51.63% return, which is significantly higher than UTWO's 0.43% return.
IBAT
- 1D
- 1.07%
- 1M
- -4.06%
- YTD
- 51.63%
- 6M
- 46.54%
- 1Y
- 105.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UTWO
- 1D
- -0.04%
- 1M
- 0.18%
- YTD
- 0.43%
- 6M
- 0.68%
- 1Y
- 3.13%
- 3Y*
- 3.89%
- 5Y*
- —
- 10Y*
- —
IBAT vs. UTWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBAT iShares Energy Storage & Materials ETF | 51.63% | 32.09% | -13.29% |
UTWO US Treasury 2 Year Note ETF | 0.43% | 4.79% | 3.56% |
Correlation
The correlation between IBAT and UTWO is 0.06, 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 | 0.06 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024 | 0.03 |
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Return for Risk
IBAT vs. UTWO — Risk / Return Rank
IBAT
UTWO
IBAT vs. UTWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Energy Storage & Materials ETF (IBAT) and US Treasury 2 Year Note ETF (UTWO). 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.
| IBAT | UTWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.47 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 7.45 | 3.43 | +4.02 |
| Martin ratioReturn relative to average drawdown | 20.84 | 12.29 | +8.55 |
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Drawdowns
IBAT vs. UTWO - Drawdown Comparison
The maximum IBAT drawdown since its inception was -28.26%, which is greater than UTWO's maximum drawdown of -2.04%. Use the drawdown chart below to compare losses from any high point for IBAT and UTWO.
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Drawdown Indicators
| IBAT | UTWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.26% | -2.04% | -26.22% |
Max Drawdown (1Y)Largest decline over 1 year | -13.71% | -0.90% | -12.81% |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.08% | — |
Current DrawdownCurrent decline from peak | -8.98% | -0.28% | -8.70% |
Average DrawdownAverage peak-to-trough decline | -7.74% | -0.48% | -7.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.90% | 0.25% | +4.65% |
Volatility
IBAT vs. UTWO - Volatility Comparison
iShares Energy Storage & Materials ETF (IBAT) has a higher volatility of 13.41% compared to US Treasury 2 Year Note ETF (UTWO) at 0.40%. This indicates that IBAT's price experiences larger fluctuations and is considered to be riskier than UTWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBAT | UTWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.41% | 0.40% | +13.01% |
Volatility (6M)Calculated over the trailing 6-month period | 22.68% | 0.94% | +21.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.18% | 1.33% | +26.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.58% | 2.07% | +22.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.58% | 2.07% | +22.51% |
IBAT vs. UTWO - Expense Ratio Comparison
IBAT has a 0.47% expense ratio, which is higher than UTWO's 0.15% expense ratio.
Dividends
IBAT vs. UTWO - Dividend Comparison
IBAT's dividend yield for the trailing twelve months is around 0.76%, less than UTWO's 3.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IBAT iShares Energy Storage & Materials ETF | 0.76% | 1.15% | 1.37% | 0.00% | 0.00% |
UTWO US Treasury 2 Year Note ETF | 3.49% | 3.63% | 4.22% | 4.39% | 1.22% |
Frequently Asked Questions
IBAT and UTWO have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBAT has higher volatility (13.41%) compared to UTWO (0.40%). In terms of maximum drawdown, IBAT dropped -28.26% vs UTWO's -2.04%.
On 1-year performance, IBAT leads with 105.19% vs 3.13% for UTWO. On fees, UTWO is cheaper at 0.15% per year. On volatility, UTWO has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBAT has performed better with a 105.19% return vs 3.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UTWO is cheaper with a 0.15% expense ratio, compared with 0.47% for IBAT.
UTWO has the higher dividend yield at 3.49%, compared with 0.76% for IBAT.
IBAT is categorized as Alternative Energy Equities, while UTWO is Government Bonds. IBAT tracks STOXX Global Energy Storage and Materials, while UTWO tracks ICE BofA Current 2 Year US Treasury Index - Benchmark TR Gross. They also come from different issuers: iShares and US Benchmark Series. Their fees differ too: 0.47% for IBAT and 0.15% for UTWO.
IBAT currently has the higher Sharpe Ratio (3.63 vs 2.31), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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