IUSM.DE vs. SPP3.DE
IUSM.DE (iShares USD Treasury Bond 7-10yr UCITS ETF (Dist)) and SPP3.DE (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) are both Government Bonds funds - IUSM.DE tracks the ICE US Treasury 7-10 Year while SPP3.DE tracks the Bloomberg US 3-7 Year Treasury Bond. Both are passively managed. Over the past 10 years, IUSM.DE returned 0.29%/yr vs 1.16%/yr for SPP3.DE. Their correlation of 0.91 suggests significant overlap in exposure. IUSM.DE charges 0.07%/yr vs 0.15%/yr for SPP3.DE.
Performance
IUSM.DE vs. SPP3.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IUSM.DE achieves a 0.22% return, which is significantly lower than SPP3.DE's 0.86% return. Over the past 10 years, IUSM.DE has underperformed SPP3.DE with an annualized return of 0.29%, while SPP3.DE has yielded a comparatively higher 1.16% annualized return.
IUSM.DE
- 1D
- 0.13%
- 1M
- 0.34%
- YTD
- 0.22%
- 6M
- -0.62%
- 1Y
- 1.33%
- 3Y*
- -0.48%
- 5Y*
- -0.31%
- 10Y*
- 0.29%
SPP3.DE
- 1D
- 0.03%
- 1M
- 0.59%
- YTD
- 0.86%
- 6M
- 0.21%
- 1Y
- 1.40%
- 3Y*
- 0.87%
- 5Y*
- 1.43%
- 10Y*
- 1.16%
IUSM.DE vs. SPP3.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUSM.DE iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) | 0.22% | -4.06% | 5.00% | -0.24% | -9.67% | 4.92% | -0.18% | 11.27% | 4.84% | -10.05% |
SPP3.DE SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 0.86% | -4.58% | 7.72% | 1.58% | -3.86% | 5.71% | -2.64% | 7.91% | 5.84% | -11.29% |
Correlation
The correlation between IUSM.DE and SPP3.DE is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2016 | 0.91 |
The correlation between IUSM.DE and SPP3.DE has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.
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Return for Risk
IUSM.DE vs. SPP3.DE — Risk / Return Rank
IUSM.DE
SPP3.DE
IUSM.DE vs. SPP3.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IUSM.DE) and SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (SPP3.DE). 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.
| IUSM.DE | SPP3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.05 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | 0.34 | -0.05 |
| Martin ratioReturn relative to average drawdown | 0.74 | 0.87 | -0.13 |
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
| IUSM.DE | SPP3.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.23 | 0.26 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | 0.18 | -0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.03 | 0.16 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.12 | +0.14 |
Drawdowns
IUSM.DE vs. SPP3.DE - Drawdown Comparison
The maximum IUSM.DE drawdown since its inception was -21.40%, which is greater than SPP3.DE's maximum drawdown of -16.82%. Use the drawdown chart below to compare losses from any high point for IUSM.DE and SPP3.DE.
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Drawdown Indicators
| IUSM.DE | SPP3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.40% | -16.82% | -4.58% |
Max Drawdown (1Y)Largest decline over 1 year | -4.45% | -4.06% | -0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -10.86% | -9.95% | -0.91% |
Max Drawdown (5Y)Largest decline over 5 years | -15.69% | -11.51% | -4.18% |
Max Drawdown (10Y)Largest decline over 10 years | -21.40% | -16.82% | -4.58% |
Current DrawdownCurrent decline from peak | -17.38% | -6.25% | -11.13% |
Average DrawdownAverage peak-to-trough decline | -10.30% | -6.75% | -3.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 1.61% | +0.18% |
Volatility
IUSM.DE vs. SPP3.DE - Volatility Comparison
iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IUSM.DE) has a higher volatility of 1.14% compared to SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (SPP3.DE) at 0.76%. This indicates that IUSM.DE's price experiences larger fluctuations and is considered to be riskier than SPP3.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUSM.DE | SPP3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 0.76% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 4.00% | 3.64% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.78% | 5.29% | +0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.96% | 7.72% | +1.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.33% | 7.35% | +0.98% |
IUSM.DE vs. SPP3.DE - Expense Ratio Comparison
IUSM.DE has a 0.07% expense ratio, which is lower than SPP3.DE's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IUSM.DE vs. SPP3.DE - Dividend Comparison
IUSM.DE's dividend yield for the trailing twelve months is around 3.72%, less than SPP3.DE's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IUSM.DE iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) | 3.72% | 3.73% | 3.65% | 2.91% | 1.93% | 0.96% | 1.53% | 2.24% | 2.07% | 1.83% | 1.66% | 1.84% |
SPP3.DE SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 3.91% | 3.96% | 3.14% | 2.90% | 1.13% | 0.93% | 1.80% | 2.12% | 1.59% | 1.48% | 0.44% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, IUSM.DE and SPP3.DE 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, IUSM.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSM.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for SPP3.DE.
IUSM.DE tracks ICE US Treasury 7-10 Year, while SPP3.DE tracks Bloomberg US 3-7 Year Treasury Bond. They also come from different issuers: iShares and State Street. Their fees differ too: 0.07% for IUSM.DE and 0.15% for SPP3.DE.
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