IBTA.L vs. DRGG.L
IBTA.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) and DRGG.L (L&G China CNY Bond UCITS ETF USD (Dist)) are both Government Bonds funds - IBTA.L tracks the ICE US Treasury 1-3 Year Index while DRGG.L tracks the J.P. Morgan China Custom Liquid ESG Capped Index. Both are passively managed. Over the past 5 years, IBTA.L returned 1.94%/yr vs 2.31%/yr for DRGG.L. At a 0.14 correlation, their price movements are largely independent. IBTA.L charges 0.07%/yr vs 0.30%/yr for DRGG.L.
Performance
IBTA.L vs. DRGG.L - Performance Comparison
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Different Trading Currencies
IBTA.L is traded in USD, while DRGG.L is traded in GBp. To make them comparable, the DRGG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBTA.L achieves a 0.68% return, which is significantly lower than DRGG.L's 3.82% return.
IBTA.L
- 1D
- 0.17%
- 1M
- 0.17%
- 6M
- 0.85%
- YTD
- 0.68%
- 1Y
- 3.47%
- 3Y*
- 4.32%
- 5Y*
- 1.94%
- 10Y*
- —
DRGG.L
- 1D
- 0.49%
- 1M
- 0.12%
- 6M
- 3.69%
- YTD
- 3.82%
- 1Y
- 7.31%
- 3Y*
- 4.79%
- 5Y*
- 2.31%
- 10Y*
- —
IBTA.L vs. DRGG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.68% | 5.34% | 4.07% | 4.21% | -3.75% | -0.64% | 0.08% |
DRGG.L L&G China CNY Bond UCITS ETF USD (Dist) | 3.82% | 5.68% | 3.04% | 0.01% | -5.38% | 7.53% | -24.68% |
Correlation
The correlation between IBTA.L and DRGG.L is -0.04, 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 | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020 | 0.14 |
The correlation between IBTA.L and DRGG.L shifts across timeframes, from -0.04 (1 year) to 0.15 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBTA.L vs. DRGG.L — Risk / Return Rank
IBTA.L
DRGG.L
IBTA.L vs. DRGG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) and L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.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.
| IBTA.L | DRGG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +1.59 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.28 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 5.14 | 4.42 | +0.72 |
| Martin ratioReturn relative to average drawdown | 17.96 | 16.28 | +1.68 |
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Drawdowns
IBTA.L vs. DRGG.L - Drawdown Comparison
The maximum IBTA.L drawdown since its inception was -5.80%, smaller than the maximum DRGG.L drawdown of -27.95%. Use the drawdown chart below to compare losses from any high point for IBTA.L and DRGG.L.
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Drawdown Indicators
| IBTA.L | DRGG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.80% | -27.95% | +22.15% |
Max Drawdown (1Y)Largest decline over 1 year | -0.67% | -1.65% | +0.98% |
Max Drawdown (3Y)Largest decline over 3 years | -0.89% | -3.61% | +2.72% |
Max Drawdown (5Y)Largest decline over 5 years | -5.70% | -12.16% | +6.46% |
Current DrawdownCurrent decline from peak | 0.00% | -13.35% | +13.35% |
Average DrawdownAverage peak-to-trough decline | -0.96% | -21.39% | +20.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 0.45% | -0.26% |
Volatility
IBTA.L vs. DRGG.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) is 0.52%, while L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.L) has a volatility of 1.31%. This indicates that IBTA.L experiences smaller price fluctuations and is considered to be less risky than DRGG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTA.L | DRGG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 1.31% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 1.16% | 4.46% | -3.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.57% | 5.08% | -3.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.18% | 6.53% | -4.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.93% | 12.45% | -10.52% |
IBTA.L vs. DRGG.L - Expense Ratio Comparison
IBTA.L has a 0.07% expense ratio, which is lower than DRGG.L's 0.30% expense ratio.
Dividends
IBTA.L vs. DRGG.L - Dividend Comparison
IBTA.L has not paid dividends to shareholders, while DRGG.L's dividend yield for the trailing twelve months is around 0.87%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DRGG.L L&G China CNY Bond UCITS ETF USD (Dist) | 0.87% | 2.04% | 2.27% | 2.48% | 2.61% | 1.40% |
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBTA.L and DRGG.L have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTA.L is cheaper with a 0.07% expense ratio, compared with 0.30% for DRGG.L.
IBTA.L tracks ICE US Treasury 1-3 Year Index, while DRGG.L tracks J.P. Morgan China Custom Liquid ESG Capped Index. They also come from different issuers: iShares and L&G. Their fees differ too: 0.07% for IBTA.L and 0.30% for DRGG.L.
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