IBTL vs. USSC.L
IBTL (iShares iBonds Dec 2031 Term Treasury ETF) and USSC.L (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - IBTL is a Government Bonds fund tracking the ICE 2031 Maturity US Treasury Index, while USSC.L is a Small Cap Value Equities fund tracking the MSCI USA Small Cap Value Weighted Index. Both are passively managed. Over the past 3 years, IBTL returned 3.11%/yr vs 18.95%/yr for USSC.L. At a 0.07 correlation, their price movements are largely independent. IBTL charges 0.07%/yr vs 0.30%/yr for USSC.L.
Performance
IBTL vs. USSC.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 USSC.L's 16.20% return.
IBTL
- 1D
- 0.15%
- 1M
- 0.89%
- YTD
- -0.07%
- 6M
- -0.06%
- 1Y
- 4.05%
- 3Y*
- 3.11%
- 5Y*
- —
- 10Y*
- —
USSC.L
- 1D
- -0.50%
- 1M
- 6.23%
- YTD
- 16.20%
- 6M
- 15.76%
- 1Y
- 37.22%
- 3Y*
- 18.95%
- 5Y*
- 10.55%
- 10Y*
- 12.37%
IBTL vs. USSC.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% |
USSC.L SPDR MSCI USA Small Cap Value Weighted UCITS ETF | 16.20% | 14.72% | 8.33% | 23.18% | -10.14% | 3.21% |
Correlation
The correlation between IBTL and USSC.L is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2021 | 0.07 |
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Return for Risk
IBTL vs. USSC.L — Risk / Return Rank
IBTL
USSC.L
IBTL vs. USSC.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 SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.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 | USSC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.15 | ||
| Sortino ratioReturn per unit of downside risk | -1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.40 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 4.56 | -3.13 |
| Martin ratioReturn relative to average drawdown | 3.90 | 14.72 | -10.82 |
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Drawdowns
IBTL vs. USSC.L - Drawdown Comparison
The maximum IBTL drawdown since its inception was -20.93%, smaller than the maximum USSC.L drawdown of -48.99%. Use the drawdown chart below to compare losses from any high point for IBTL and USSC.L.
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Drawdown Indicators
| IBTL | USSC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.93% | -48.99% | +28.06% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -8.12% | +5.29% |
Max Drawdown (3Y)Largest decline over 3 years | -7.38% | -27.47% | +20.09% |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.47% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.99% | — |
Current DrawdownCurrent decline from peak | -6.88% | -0.50% | -6.38% |
Average DrawdownAverage peak-to-trough decline | -11.42% | -7.67% | -3.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 2.52% | -1.48% |
Volatility
IBTL vs. USSC.L - Volatility Comparison
The current volatility for iShares iBonds Dec 2031 Term Treasury ETF (IBTL) is 0.96%, while SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) has a volatility of 3.77%. This indicates that IBTL experiences smaller price fluctuations and is considered to be less risky than USSC.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 | USSC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 3.77% | -2.81% |
Volatility (6M)Calculated over the trailing 6-month period | 2.42% | 10.20% | -7.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.49% | 16.00% | -12.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.43% | 21.63% | -14.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.43% | 22.77% | -15.34% |
IBTL vs. USSC.L - Expense Ratio Comparison
IBTL has a 0.07% expense ratio, which is lower than USSC.L's 0.30% expense ratio.
Dividends
IBTL vs. USSC.L - Dividend Comparison
IBTL's dividend yield for the trailing twelve months is around 3.96%, while USSC.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
IBTL iShares iBonds Dec 2031 Term Treasury ETF | 3.96% | 3.93% | 4.07% | 3.04% | 2.36% | 0.70% |
USSC.L SPDR MSCI USA Small Cap Value Weighted UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBTL and USSC.L have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTL is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTL is cheaper with a 0.07% expense ratio, compared with 0.30% for USSC.L.
IBTL is categorized as Government Bonds, while USSC.L is Small Cap Value Equities. IBTL tracks ICE 2031 Maturity US Treasury Index, while USSC.L tracks MSCI USA Small Cap Value Weighted Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.07% for IBTL and 0.30% for USSC.L.
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