IBTA.L vs. XUT3.L
IBTA.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) and XUT3.L (Xtrackers II US Treasuries 1-3 UCITS ETF 1D) are both Government Bonds funds - IBTA.L tracks the ICE US Treasury 1-3 Year Index while XUT3.L tracks the iBoxx USD Treasuries 1-3 Index. Both are passively managed. Over the past 5 years, IBTA.L returned 1.87%/yr vs 1.86%/yr for XUT3.L. Their correlation of 0.81 suggests significant overlap in exposure. IBTA.L charges 0.07%/yr vs 0.06%/yr for XUT3.L.
Performance
IBTA.L vs. XUT3.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBTA.L achieves a 0.46% return, which is significantly lower than XUT3.L's 0.54% return.
IBTA.L
- 1D
- 0.13%
- 1M
- 0.13%
- YTD
- 0.46%
- 6M
- 0.92%
- 1Y
- 3.43%
- 3Y*
- 4.23%
- 5Y*
- 1.87%
- 10Y*
- —
XUT3.L
- 1D
- 0.10%
- 1M
- 0.12%
- YTD
- 0.54%
- 6M
- 0.93%
- 1Y
- 3.45%
- 3Y*
- 4.17%
- 5Y*
- 1.86%
- 10Y*
- 1.74%
IBTA.L vs. XUT3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.46% | 5.30% | 4.11% | 4.15% | -3.75% | -0.64% | 3.14% | 3.58% | 1.44% | -0.05% |
XUT3.L Xtrackers II US Treasuries 1-3 UCITS ETF 1D | 0.54% | 5.06% | 4.13% | 4.10% | -3.60% | -0.62% | 2.95% | 3.56% | 1.44% | -0.10% |
Correlation
The correlation between IBTA.L and XUT3.L is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2017 | 0.81 |
The correlation between IBTA.L and XUT3.L has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.
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Return for Risk
IBTA.L vs. XUT3.L — Risk / Return Rank
IBTA.L
XUT3.L
IBTA.L vs. XUT3.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 Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.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.
| IBTA.L | XUT3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.67 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.62 | 5.10 | -0.48 |
| Martin ratioReturn relative to average drawdown | 17.47 | 20.02 | -2.55 |
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
| IBTA.L | XUT3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.80 | 3.06 | -0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | 0.98 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.08 | 1.14 | -0.05 |
Drawdowns
IBTA.L vs. XUT3.L - Drawdown Comparison
The maximum IBTA.L drawdown since its inception was -5.80%, which is greater than XUT3.L's maximum drawdown of -5.45%. Use the drawdown chart below to compare losses from any high point for IBTA.L and XUT3.L.
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Drawdown Indicators
| IBTA.L | XUT3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.80% | -5.45% | -0.35% |
Max Drawdown (1Y)Largest decline over 1 year | -0.74% | -0.67% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -0.89% | -0.91% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -5.70% | -5.45% | -0.25% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.45% | — |
Current DrawdownCurrent decline from peak | -0.13% | -0.12% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -0.72% | -0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 0.17% | +0.03% |
Volatility
IBTA.L vs. XUT3.L - Volatility Comparison
iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) and Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.L) have volatilities of 0.43% and 0.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTA.L | XUT3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.43% | 0.41% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 0.80% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.23% | 1.13% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 1.90% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.76% | 1.50% | +0.26% |
IBTA.L vs. XUT3.L - Expense Ratio Comparison
IBTA.L has a 0.07% expense ratio, which is higher than XUT3.L's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBTA.L vs. XUT3.L - Dividend Comparison
IBTA.L has not paid dividends to shareholders, while XUT3.L's dividend yield for the trailing twelve months is around 2.84%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XUT3.L Xtrackers II US Treasuries 1-3 UCITS ETF 1D | 2.84% | 2.70% | 2.35% | 1.80% | 1.00% | 2.89% | 2.43% | 1.16% | 1.00% | 0.69% |
Frequently Asked Questions
IBTA.L and XUT3.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUT3.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUT3.L is cheaper with a 0.06% expense ratio, compared with 0.07% for IBTA.L.
IBTA.L tracks ICE US Treasury 1-3 Year Index, while XUT3.L tracks iBoxx USD Treasuries 1-3 Index. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.07% for IBTA.L and 0.06% for XUT3.L.
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