IBTS.L vs. UB74.L
IBTS.L (iShares $ Treasury Bond 1-3yr UCITS ETF) and UB74.L (UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis) are both Government Bonds funds - IBTS.L tracks the ICE U.S. Treasury 1-3 Year Bond Index while UB74.L tracks the Bloomberg US 1-3 Year Treasury Bond Index. Both are passively managed. Over the past 10 years, IBTS.L returned 1.72%/yr vs 1.62%/yr for UB74.L. With a 0.98 correlation, they move nearly in lockstep. IBTS.L charges 0.07%/yr vs 0.05%/yr for UB74.L.
Performance
IBTS.L vs. UB74.L - Performance Comparison
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Different Trading Currencies
IBTS.L is traded in GBP, while UB74.L is traded in GBp. To make them comparable, the UB74.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with IBTS.L having a 2.46% return and UB74.L slightly lower at 2.45%. Over the past 10 years, IBTS.L has outperformed UB74.L with an annualized return of 1.72%, while UB74.L has yielded a comparatively lower 1.62% annualized return.
IBTS.L
- 1D
- -0.26%
- 1M
- 2.04%
- YTD
- 2.46%
- 6M
- 3.19%
- 1Y
- 6.32%
- 3Y*
- 3.01%
- 5Y*
- 2.97%
- 10Y*
- 1.72%
UB74.L
- 1D
- -0.27%
- 1M
- 2.02%
- YTD
- 2.45%
- 6M
- 3.07%
- 1Y
- 6.30%
- 3Y*
- 2.90%
- 5Y*
- 2.88%
- 10Y*
- 1.62%
IBTS.L vs. UB74.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 2.46% | -1.91% | 5.79% | -1.41% | 7.61% | 0.64% | -0.34% | 0.37% | 7.21% | -8.60% |
UB74.L UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis | 2.45% | -2.06% | 5.76% | -1.66% | 7.62% | 0.57% | -0.46% | 0.26% | 7.13% | -8.67% |
Correlation
The correlation between IBTS.L and UB74.L is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2012 | 0.98 |
The correlation between IBTS.L and UB74.L has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
IBTS.L vs. UB74.L — Risk / Return Rank
IBTS.L
UB74.L
IBTS.L vs. UB74.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 UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis (UB74.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.
| IBTS.L | UB74.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.18 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 1.36 | +0.05 |
| Martin ratioReturn relative to average drawdown | 3.58 | 3.46 | +0.12 |
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Drawdowns
IBTS.L vs. UB74.L - Drawdown Comparison
The maximum IBTS.L drawdown since its inception was -23.85%, smaller than the maximum UB74.L drawdown of -41.53%. Use the drawdown chart below to compare losses from any high point for IBTS.L and UB74.L.
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Drawdown Indicators
| IBTS.L | UB74.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.85% | -41.53% | +17.68% |
Max Drawdown (1Y)Largest decline over 1 year | -4.51% | -4.61% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -8.89% | -8.93% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -16.29% | -16.34% | +0.05% |
Max Drawdown (10Y)Largest decline over 10 years | -19.02% | -18.81% | -0.21% |
Current DrawdownCurrent decline from peak | -5.85% | -9.00% | +3.15% |
Average DrawdownAverage peak-to-trough decline | -11.16% | -21.38% | +10.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.77% | 1.81% | -0.04% |
Volatility
IBTS.L vs. UB74.L - Volatility Comparison
iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L) and UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis (UB74.L) have volatilities of 1.53% and 1.57%, 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
| IBTS.L | UB74.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 1.57% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 4.54% | 4.50% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.14% | 6.16% | -0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.09% | 8.07% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.75% | 8.76% | -0.01% |
IBTS.L vs. UB74.L - Expense Ratio Comparison
IBTS.L has a 0.07% expense ratio, which is higher than UB74.L's 0.05% 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
IBTS.L vs. UB74.L - Dividend Comparison
IBTS.L's dividend yield for the trailing twelve months is around 3.92%, more than UB74.L's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 3.92% | 4.22% | 4.12% | 3.08% | 0.75% | 0.61% | 1.84% | 2.39% | 1.49% | 1.01% | 0.67% | 0.49% |
UB74.L UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis | 3.63% | 4.94% | 3.67% | 2.22% | 0.41% | 0.36% | 1.68% | 2.28% | 1.10% | 0.65% | 0.62% | 0.41% |
Frequently Asked Questions
With a correlation of 0.98, IBTS.L and UB74.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.
On fees, UB74.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UB74.L is cheaper with a 0.05% expense ratio, compared with 0.07% for IBTS.L.
IBTS.L tracks ICE U.S. Treasury 1-3 Year Bond Index, while UB74.L tracks Bloomberg US 1-3 Year Treasury Bond Index. They also come from different issuers: iShares and UBS. Their fees differ too: 0.07% for IBTS.L and 0.05% for UB74.L.
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