IBTS.L vs. BBLL.L

Last updated Jun 5, 2026

IBTS.L (iShares $ Treasury Bond 1-3yr UCITS ETF) and BBLL.L (JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc)) are both Government Bonds funds - IBTS.L tracks the ICE U.S. Treasury 1-3 Year Bond Index while BBLL.L tracks the ICE US Treasury 0-1 Year Index. Both are passively managed. Over the past year, IBTS.L returned 4.47% vs 4.96% for BBLL.L. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.07% expense ratio.

Performance

IBTS.L vs. BBLL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L) and JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) (BBLL.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBTS.L achieves a 0.65% return, which is significantly lower than BBLL.L's 1.64% return.

IBTS.L

• 1D: 0.14%
• 1M: 1.13%
• YTD: 0.65%
• 6M: 0.29%
• 1Y: 4.47%
• 3Y*: 1.53%
• 5Y*: 2.95%
• 10Y*: 2.52%

BBLL.L

• 1D: 0.05%
• 1M: 1.28%
• YTD: 1.64%
• 6M: 1.15%
• 1Y: 4.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBTS.L vs. BBLL.L - Yearly Performance Comparison

	2026 (YTD)	2025
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF	0.65%	2.53%
BBLL.L JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc)	1.64%	2.34%

Correlation

The correlation between IBTS.L and BBLL.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025	0.97

The correlation between IBTS.L and BBLL.L has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.

Return for Risk

IBTS.L vs. BBLL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBTS.L

IBTS.L Risk / Return Rank: 22
IBTS.L Sharpe Ratio Rank: 22
IBTS.L Sortino Ratio Rank: 21
IBTS.L Omega Ratio Rank: 20
IBTS.L Calmar Ratio Rank: 22
IBTS.L Martin Ratio Rank: 21

BBLL.L

BBLL.L Risk / Return Rank: 22
BBLL.L Sharpe Ratio Rank: 23
BBLL.L Sortino Ratio Rank: 22
BBLL.L Omega Ratio Rank: 21
BBLL.L Calmar Ratio Rank: 24
BBLL.L Martin Ratio Rank: 23

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBTS.L vs. BBLL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L) and JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) (BBLL.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.

	IBTS.L	BBLL.L	Difference
Sharpe ratio: Return per unit of total volatility	0.73	0.77	-0.04
Sortino ratio: Return per unit of downside risk	1.10	1.15	-0.05
Omega ratio: Gain probability vs. loss probability	1.13	1.13	-0.01
Calmar ratio: Return relative to maximum drawdown	0.99	1.09	-0.10
Martin ratio: Return relative to average drawdown	2.51	2.77	-0.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBTS.L vs. BBLL.L - Sharpe Ratio Comparison

The current IBTS.L Sharpe Ratio is 0.73, which is comparable to the BBLL.L Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of IBTS.L and BBLL.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBTS.L	BBLL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.73	0.77	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.57	-0.21

Drawdowns

IBTS.L vs. BBLL.L - Drawdown Comparison

The maximum IBTS.L drawdown since its inception was -19.02%, which is greater than BBLL.L's maximum drawdown of -4.55%. Use the drawdown chart below to compare losses from any high point for IBTS.L and BBLL.L.

Drawdown Indicators

	IBTS.L	BBLL.L	Difference
Max Drawdown Largest peak-to-trough decline	-19.02%	-4.55%	-14.47%
Max Drawdown (1Y) Largest decline over 1 year	-4.51%	-4.55%	+0.04%
Max Drawdown (3Y) Largest decline over 3 years	-8.89%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.28%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-19.02%	—	—
Current Drawdown Current decline from peak	-7.51%	-1.11%	-6.40%
Average Drawdown Average peak-to-trough decline	-7.93%	-1.59%	-6.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	1.79%	-0.01%

Volatility

IBTS.L vs. BBLL.L - Volatility Comparison

The current volatility for iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L) is 1.67%, while JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) (BBLL.L) has a volatility of 1.86%. This indicates that IBTS.L experiences smaller price fluctuations and is considered to be less risky than BBLL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBTS.L	BBLL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.67%	1.86%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	4.49%	4.69%	-0.20%
Volatility (1Y) Calculated over the trailing 1-year period	6.09%	6.43%	-0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.09%	6.41%	+1.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.24%	6.41%	+2.83%

IBTS.L vs. BBLL.L - Expense Ratio Comparison

Both IBTS.L and BBLL.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

IBTS.L vs. BBLL.L - Dividend Comparison

IBTS.L's dividend yield for the trailing twelve months is around 3.99%, while BBLL.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBLL.L JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF	3.99%	4.22%	4.12%	3.08%	0.75%	0.61%	1.84%	2.39%	1.49%	1.01%	0.67%	0.49%

Frequently Asked Questions

Can I hold both IBTS.L and BBLL.L in my portfolio?

With a correlation of 0.97, IBTS.L and BBLL.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, IBTS.L or BBLL.L?

Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBTS.L or BBLL.L?

IBTS.L and BBLL.L have the same expense ratio: 0.07% per year.

What is the main difference between IBTS.L and BBLL.L?

IBTS.L tracks ICE U.S. Treasury 1-3 Year Bond Index, while BBLL.L tracks ICE US Treasury 0-1 Year Index. They also come from different issuers: iShares and JPMorgan.