JPYUSD=X vs. UTHY
JPYUSD=X (JPY/USD) is a currency, while UTHY (US Treasury 30 Year Bond ETF) is Government Bonds fund tracking the ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross. Over the past 3 years, JPYUSD=X returned -4.30%/yr vs -1.74%/yr for UTHY. At a 0.42 correlation, their price movements are largely independent.
Performance
JPYUSD=X vs. UTHY - Performance Comparison
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Returns By Period
In the year-to-date period, JPYUSD=X achieves a -2.12% return, which is significantly lower than UTHY's 0.07% return.
JPYUSD=X
- 1D
- 0.10%
- 1M
- -0.82%
- YTD
- -2.12%
- 6M
- -3.07%
- 1Y
- -9.99%
- 3Y*
- -4.30%
- 5Y*
- -7.22%
- 10Y*
- -4.19%
UTHY
- 1D
- -0.30%
- 1M
- 2.80%
- YTD
- 0.07%
- 6M
- 0.39%
- 1Y
- 3.41%
- 3Y*
- -1.74%
- 5Y*
- —
- 10Y*
- —
JPYUSD=X vs. UTHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JPYUSD=X JPY/USD | -2.12% | 0.33% | -10.26% | -6.74% |
UTHY US Treasury 30 Year Bond ETF | 0.07% | 3.47% | -8.07% | -2.77% |
Correlation
The correlation between JPYUSD=X and UTHY is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2023 | 0.42 |
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Return for Risk
JPYUSD=X vs. UTHY — Risk / Return Rank
JPYUSD=X
UTHY
JPYUSD=X vs. UTHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPY/USD (JPYUSD=X) and US Treasury 30 Year Bond ETF (UTHY). 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.
| JPYUSD=X | UTHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.35 | ||
| Sortino ratioReturn per unit of downside risk | -2.04 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.05 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 0.33 | -1.09 |
| Martin ratioReturn relative to average drawdown | -1.11 | 0.81 | -1.92 |
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Drawdowns
JPYUSD=X vs. UTHY - Drawdown Comparison
The maximum JPYUSD=X drawdown since its inception was -52.96%, which is greater than UTHY's maximum drawdown of -21.86%. Use the drawdown chart below to compare losses from any high point for JPYUSD=X and UTHY.
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Drawdown Indicators
| JPYUSD=X | UTHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.96% | -21.86% | -31.10% |
Max Drawdown (1Y)Largest decline over 1 year | -10.68% | -7.34% | -3.34% |
Max Drawdown (3Y)Largest decline over 3 years | -14.63% | -18.58% | +3.95% |
Max Drawdown (5Y)Largest decline over 5 years | -32.59% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.21% | — | — |
Current DrawdownCurrent decline from peak | -52.47% | -11.07% | -41.40% |
Average DrawdownAverage peak-to-trough decline | -26.92% | -10.71% | -16.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.18% | 3.00% | +3.18% |
Volatility
JPYUSD=X vs. UTHY - Volatility Comparison
The current volatility for JPY/USD (JPYUSD=X) is 0.69%, while US Treasury 30 Year Bond ETF (UTHY) has a volatility of 2.79%. This indicates that JPYUSD=X experiences smaller price fluctuations and is considered to be less risky than UTHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPYUSD=X | UTHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.69% | 2.79% | -2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 5.48% | 6.36% | -0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.50% | 9.33% | -1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.56% | 13.62% | -4.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.90% | 13.62% | -4.72% |
Frequently Asked Questions
JPYUSD=X and UTHY have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UTHY has higher volatility (2.79%) compared to JPYUSD=X (0.69%). In terms of maximum drawdown, JPYUSD=X dropped -52.96% vs UTHY's -21.86%.
UTHY currently has the higher Sharpe Ratio (0.26 vs -1.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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