IUSA.L vs. IB01.L

Last updated Jun 5, 2026

IUSA.L (iShares S&P 500 UCITS Dist) and IB01.L (iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)) are both exchange-traded funds - IUSA.L is a S&P 500 fund tracking the S&P 500 Index, while IB01.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, IUSA.L returned 15.33%/yr vs 4.50%/yr for IB01.L. At a 0.18 correlation, their price movements are largely independent. Both charge a 0.07% expense ratio.

Performance

IUSA.L vs. IB01.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares S&P 500 UCITS Dist (IUSA.L) and iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IUSA.L is traded in GBp, while IB01.L is traded in USD. To make them comparable, the IB01.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, IUSA.L achieves a 10.67% return, which is significantly higher than IB01.L's 1.83% return.

IUSA.L

• 1D: 0.04%
• 1M: 4.50%
• YTD: 10.67%
• 6M: 10.05%
• 1Y: 29.42%
• 3Y*: 19.42%
• 5Y*: 15.33%
• 10Y*: 16.52%

IB01.L

• 1D: 0.00%
• 1M: 1.53%
• YTD: 1.83%
• 6M: 1.05%
• 1Y: 5.10%
• 3Y*: 2.09%
• 5Y*: 4.50%
• 10Y*: —

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

IUSA.L vs. IB01.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IUSA.L iShares S&P 500 UCITS Dist	10.67%	9.70%	27.73%	20.24%	-8.72%	31.54%	14.15%	16.35%
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)	1.83%	-3.10%	7.09%	-0.32%	13.10%	0.95%	-2.08%	0.41%

Correlation

The correlation between IUSA.L and IB01.L is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since Feb 25, 2019	0.18

Return for Risk

IUSA.L vs. IB01.L — Risk / Return Rank

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

IUSA.L

IUSA.L Risk / Return Rank: 84
IUSA.L Sharpe Ratio Rank: 86
IUSA.L Sortino Ratio Rank: 85
IUSA.L Omega Ratio Rank: 86
IUSA.L Calmar Ratio Rank: 81
IUSA.L Martin Ratio Rank: 80

IB01.L

IB01.L Risk / Return Rank: 100
IB01.L Sharpe Ratio Rank: 100
IB01.L Sortino Ratio Rank: 100
IB01.L Omega Ratio Rank: 100
IB01.L Calmar Ratio Rank: 100
IB01.L Martin Ratio Rank: 100

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.

IUSA.L vs. IB01.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 UCITS Dist (IUSA.L) and iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.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.

	IUSA.L	IB01.L	Difference
Sharpe ratio: Return per unit of total volatility	2.82	0.75	+2.07
Sortino ratio: Return per unit of downside risk	3.78	1.11	+2.67
Omega ratio: Gain probability vs. loss probability	1.53	1.13	+0.39
Calmar ratio: Return relative to maximum drawdown	4.20	0.96	+3.24
Martin ratio: Return relative to average drawdown	15.53	2.60	+12.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUSA.L vs. IB01.L - Sharpe Ratio Comparison

The current IUSA.L Sharpe Ratio is 2.82, which is higher than the IB01.L Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of IUSA.L and IB01.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

	IUSA.L	IB01.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.82	0.75	+2.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.07	0.53	+0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.06	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.26	+0.32

Drawdowns

IUSA.L vs. IB01.L - Drawdown Comparison

The maximum IUSA.L drawdown since its inception was -38.58%, which is greater than IB01.L's maximum drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for IUSA.L and IB01.L.

Drawdown Indicators

	IUSA.L	IB01.L	Difference
Max Drawdown Largest peak-to-trough decline	-38.58%	-19.26%	-19.32%
Max Drawdown (1Y) Largest decline over 1 year	-7.01%	-5.16%	-1.85%
Max Drawdown (3Y) Largest decline over 3 years	-21.08%	-9.81%	-11.27%
Max Drawdown (5Y) Largest decline over 5 years	-21.08%	-15.94%	-5.14%
Max Drawdown (10Y) Largest decline over 10 years	-25.42%	—	—
Current Drawdown Current decline from peak	-0.22%	-6.08%	+5.86%
Average Drawdown Average peak-to-trough decline	-7.29%	-9.35%	+2.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	1.90%	0.00%

Volatility

IUSA.L vs. IB01.L - Volatility Comparison

iShares S&P 500 UCITS Dist (IUSA.L) has a higher volatility of 2.62% compared to iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) at 1.80%. This indicates that IUSA.L's price experiences larger fluctuations and is considered to be riskier than IB01.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IUSA.L	IB01.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.62%	1.80%	+0.82%
Volatility (6M) Calculated over the trailing 6-month period	7.13%	4.96%	+2.17%
Volatility (1Y) Calculated over the trailing 1-year period	10.44%	6.60%	+3.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.33%	8.47%	+5.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.60%	8.81%	+6.79%

IUSA.L vs. IB01.L - Expense Ratio Comparison

Both IUSA.L and IB01.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

IUSA.L vs. IB01.L - Dividend Comparison

IUSA.L's dividend yield for the trailing twelve months is around 1.15%, while IB01.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (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%
IUSA.L iShares S&P 500 UCITS Dist	1.15%	1.24%	1.28%	1.55%	1.74%	1.39%	1.80%	1.96%	2.22%	1.95%	1.75%	2.29%

Frequently Asked Questions

Can I hold both IUSA.L and IB01.L in my portfolio?

IUSA.L and IB01.L have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IUSA.L or IB01.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, IUSA.L or IB01.L?

IUSA.L and IB01.L have the same expense ratio: 0.07% per year.

What is the main difference between IUSA.L and IB01.L?

IUSA.L is categorized as S&P 500, while IB01.L is Government Bonds. IUSA.L tracks S&P 500 Index, while IB01.L tracks ICE U.S. Treasury Short Bond Index.