IBTL vs. IBTU.L
IBTL (iShares iBonds Dec 2031 Term Treasury ETF) and IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) are both Government Bonds funds from iShares - IBTL tracks the ICE 2031 Maturity US Treasury Index while IBTU.L tracks the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 3 years, IBTL returned 3.11%/yr vs 4.62%/yr for IBTU.L. At a 0.05 correlation, their price movements are largely independent. Both charge a 0.07% expense ratio.
Performance
IBTL vs. IBTU.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBTL achieves a -0.07% return, which is significantly lower than IBTU.L's 1.35% return.
IBTL
- 1D
- 0.15%
- 1M
- 0.89%
- YTD
- -0.07%
- 6M
- -0.06%
- 1Y
- 4.05%
- 3Y*
- 3.11%
- 5Y*
- —
- 10Y*
- —
IBTU.L
- 1D
- 0.00%
- 1M
- 0.20%
- YTD
- 1.35%
- 6M
- 1.56%
- 1Y
- 3.93%
- 3Y*
- 4.62%
- 5Y*
- 3.38%
- 10Y*
- —
IBTL vs. IBTU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IBTL iShares iBonds Dec 2031 Term Treasury ETF | -0.07% | 7.85% | 0.36% | 3.60% | -15.60% | -1.22% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 1.35% | 4.33% | 5.31% | 4.92% | 1.05% | 0.01% |
Correlation
The correlation between IBTL and IBTU.L is -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2021 | 0.05 |
The correlation between IBTL and IBTU.L shifts across timeframes, from -0.07 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBTL vs. IBTU.L — Risk / Return Rank
IBTL
IBTU.L
IBTL vs. IBTU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2031 Term Treasury ETF (IBTL) and iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.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.
| IBTL | IBTU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.24 | ||
| Sortino ratioReturn per unit of downside risk | -5.31 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 3.47 | -2.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 19.33 | -17.89 |
| Martin ratioReturn relative to average drawdown | 3.90 | 83.95 | -80.05 |
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Drawdowns
IBTL vs. IBTU.L - Drawdown Comparison
The maximum IBTL drawdown since its inception was -20.93%, which is greater than IBTU.L's maximum drawdown of -0.72%. Use the drawdown chart below to compare losses from any high point for IBTL and IBTU.L.
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Drawdown Indicators
| IBTL | IBTU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.93% | -0.72% | -20.21% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -0.20% | -2.63% |
Max Drawdown (3Y)Largest decline over 3 years | -7.38% | -0.20% | -7.18% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.40% | — |
Current DrawdownCurrent decline from peak | -6.88% | 0.00% | -6.88% |
Average DrawdownAverage peak-to-trough decline | -11.42% | -0.06% | -11.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.05% | +0.99% |
Volatility
IBTL vs. IBTU.L - Volatility Comparison
iShares iBonds Dec 2031 Term Treasury ETF (IBTL) has a higher volatility of 0.96% compared to iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) at 0.35%. This indicates that IBTL's price experiences larger fluctuations and is considered to be riskier than IBTU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTL | IBTU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 0.35% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 2.42% | 0.82% | +1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.49% | 1.15% | +2.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.43% | 1.01% | +6.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.43% | 0.95% | +6.48% |
IBTL vs. IBTU.L - Expense Ratio Comparison
Both IBTL and IBTU.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
IBTL vs. IBTU.L - Dividend Comparison
IBTL's dividend yield for the trailing twelve months is around 3.96%, less than IBTU.L's 4.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IBTL iShares iBonds Dec 2031 Term Treasury ETF | 3.96% | 3.93% | 4.07% | 3.04% | 2.36% | 0.70% | 0.00% | 0.00% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.07% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% |
Frequently Asked Questions
IBTL and IBTU.L have a correlation of -0.07, 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.
IBTL and IBTU.L have the same expense ratio: 0.07% per year.
IBTL tracks ICE 2031 Maturity US Treasury Index, while IBTU.L tracks ICE U.S. Treasury Short Bond Index.
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