INXG.L vs. BBM3.L
INXG.L (iShares £ Index-Linked Gilts UCITS ETF) and BBM3.L (JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc)) are both Government Bonds funds - INXG.L tracks the Bloomberg UK Government Inflation-Linked Bond Index while BBM3.L tracks the ICE 0-3 Month US Treasury Notes & Bills Index. Both are passively managed. Over the past 5 years, INXG.L returned -8.26%/yr vs 4.56%/yr for BBM3.L. At a correlation of -0.08, they often move in opposite directions. INXG.L charges 0.10%/yr vs 0.07%/yr for BBM3.L.
Performance
INXG.L vs. BBM3.L - Performance Comparison
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Returns By Period
In the year-to-date period, INXG.L achieves a 0.04% return, which is significantly lower than BBM3.L's 1.63% return.
INXG.L
- 1D
- 0.44%
- 1M
- 0.13%
- YTD
- 0.04%
- 6M
- -0.13%
- 1Y
- 3.36%
- 3Y*
- -0.63%
- 5Y*
- -8.26%
- 10Y*
- -1.18%
BBM3.L
- 1D
- 0.09%
- 1M
- 1.55%
- YTD
- 1.63%
- 6M
- 0.98%
- 1Y
- 5.13%
- 3Y*
- 1.97%
- 5Y*
- 4.56%
- 10Y*
- —
INXG.L vs. BBM3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
INXG.L iShares £ Index-Linked Gilts UCITS ETF | 0.04% | 1.10% | -8.66% | 0.16% | -34.27% | 14.37% |
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) | 1.63% | -2.96% | 7.04% | -0.79% | 13.68% | 4.38% |
Correlation
The correlation between INXG.L and BBM3.L is -0.27, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021 | -0.08 |
The correlation between INXG.L and BBM3.L shifts across timeframes, from -0.27 (1 year) to -0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
INXG.L vs. BBM3.L — Risk / Return Rank
INXG.L
BBM3.L
INXG.L vs. BBM3.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares £ Index-Linked Gilts UCITS ETF (INXG.L) and JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.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.
| INXG.L | BBM3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.13 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | 1.09 | -0.59 |
| Martin ratioReturn relative to average drawdown | 1.08 | 2.71 | -1.63 |
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
| INXG.L | BBM3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.33 | 0.76 | -0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.41 | 0.54 | -0.95 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.07 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.71 | 0.50 | -1.21 |
Drawdowns
INXG.L vs. BBM3.L - Drawdown Comparison
The maximum INXG.L drawdown since its inception was -99.05%, which is greater than BBM3.L's maximum drawdown of -15.27%. Use the drawdown chart below to compare losses from any high point for INXG.L and BBM3.L.
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Drawdown Indicators
| INXG.L | BBM3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.05% | -15.27% | -83.78% |
Max Drawdown (1Y)Largest decline over 1 year | -6.62% | -4.52% | -2.10% |
Max Drawdown (3Y)Largest decline over 3 years | -15.04% | -9.77% | -5.27% |
Max Drawdown (5Y)Largest decline over 5 years | -50.87% | -15.27% | -35.60% |
Max Drawdown (10Y)Largest decline over 10 years | -50.87% | — | — |
Current DrawdownCurrent decline from peak | -98.31% | -5.65% | -92.66% |
Average DrawdownAverage peak-to-trough decline | -97.27% | -6.31% | -90.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 1.81% | +1.25% |
Volatility
INXG.L vs. BBM3.L - Volatility Comparison
iShares £ Index-Linked Gilts UCITS ETF (INXG.L) has a higher volatility of 3.49% compared to JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.L) at 1.89%. This indicates that INXG.L's price experiences larger fluctuations and is considered to be riskier than BBM3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INXG.L | BBM3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.49% | 1.89% | +1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 7.26% | 4.68% | +2.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.89% | 6.47% | +3.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.07% | 8.43% | +11.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.47% | 8.38% | +9.09% |
INXG.L vs. BBM3.L - Expense Ratio Comparison
INXG.L has a 0.10% expense ratio, which is higher than BBM3.L's 0.07% 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
INXG.L vs. BBM3.L - Dividend Comparison
INXG.L's dividend yield for the trailing twelve months is around 7.56%, while BBM3.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months 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% |
INXG.L iShares £ Index-Linked Gilts UCITS ETF | 7.56% | 7.23% | 5.77% | 0.43% | 0.00% | 0.00% | 0.61% | 1.36% | 1.95% | 1.28% | 0.65% | 1.94% |
Frequently Asked Questions
INXG.L and BBM3.L have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BBM3.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BBM3.L is cheaper with a 0.07% expense ratio, compared with 0.10% for INXG.L.
INXG.L tracks Bloomberg UK Government Inflation-Linked Bond Index, while BBM3.L tracks ICE 0-3 Month US Treasury Notes & Bills Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.10% for INXG.L and 0.07% for BBM3.L.
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