LUTR.L vs. IBTU.L
LUTR.L (SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF) and IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) are both Government Bonds funds - LUTR.L tracks the Bloomberg US Treasury 10+ Year Index while IBTU.L tracks the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, LUTR.L returned -5.20%/yr vs 3.38%/yr for IBTU.L. At a 0.12 correlation, their price movements are largely independent. LUTR.L charges 0.15%/yr vs 0.07%/yr for IBTU.L.
Performance
LUTR.L vs. IBTU.L - Performance Comparison
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Returns By Period
In the year-to-date period, LUTR.L achieves a -0.85% return, which is significantly lower than IBTU.L's 1.39% return.
LUTR.L
- 1D
- 0.35%
- 1M
- 0.66%
- YTD
- -0.85%
- 6M
- -0.90%
- 1Y
- 4.34%
- 3Y*
- -0.60%
- 5Y*
- -5.20%
- 10Y*
- -0.95%
IBTU.L
- 1D
- 0.01%
- 1M
- 0.30%
- YTD
- 1.39%
- 6M
- 1.78%
- 1Y
- 3.98%
- 3Y*
- 4.74%
- 5Y*
- 3.38%
- 10Y*
- —
LUTR.L vs. IBTU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
LUTR.L SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF | -0.85% | 5.48% | -5.76% | 2.50% | -28.88% | -4.85% | 16.61% | 14.40% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 1.39% | 4.36% | 5.23% | 4.96% | 1.09% | -0.01% | 0.96% | 1.94% |
Correlation
The correlation between LUTR.L and IBTU.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2019 | 0.12 |
The correlation between LUTR.L and IBTU.L shifts across timeframes, from 0.06 (3 years) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LUTR.L vs. IBTU.L — Risk / Return Rank
LUTR.L
IBTU.L
LUTR.L vs. IBTU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF (LUTR.L) and iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.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.
| LUTR.L | IBTU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.63 | ||
| Sortino ratioReturn per unit of downside risk | -16.49 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 3.95 | -2.87 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | 24.79 | -24.17 |
| Martin ratioReturn relative to average drawdown | 1.65 | 183.92 | -182.27 |
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
| LUTR.L | IBTU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.49 | 8.12 | -7.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.37 | 6.79 | -7.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.07 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.06 | 5.05 | -5.11 |
Drawdowns
LUTR.L vs. IBTU.L - Drawdown Comparison
The maximum LUTR.L drawdown since its inception was -46.52%, which is greater than IBTU.L's maximum drawdown of -0.62%. Use the drawdown chart below to compare losses from any high point for LUTR.L and IBTU.L.
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Drawdown Indicators
| LUTR.L | IBTU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.52% | -0.62% | -45.90% |
Max Drawdown (1Y)Largest decline over 1 year | -7.01% | -0.16% | -6.85% |
Max Drawdown (3Y)Largest decline over 3 years | -17.06% | -0.16% | -16.90% |
Max Drawdown (5Y)Largest decline over 5 years | -40.30% | -0.29% | -40.01% |
Max Drawdown (10Y)Largest decline over 10 years | -46.52% | — | — |
Current DrawdownCurrent decline from peak | -37.53% | 0.00% | -37.53% |
Average DrawdownAverage peak-to-trough decline | -20.79% | -0.03% | -20.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.63% | 0.02% | +2.61% |
Volatility
LUTR.L vs. IBTU.L - Volatility Comparison
SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF (LUTR.L) has a higher volatility of 3.27% compared to iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) at 0.08%. This indicates that LUTR.L's price experiences larger fluctuations and is considered to be riskier than IBTU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LUTR.L | IBTU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.27% | 0.08% | +3.19% |
Volatility (6M)Calculated over the trailing 6-month period | 6.09% | 0.31% | +5.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.84% | 0.49% | +8.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.94% | 0.50% | +13.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.27% | 0.54% | +12.73% |
LUTR.L vs. IBTU.L - Expense Ratio Comparison
LUTR.L has a 0.15% expense ratio, which is higher than IBTU.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
LUTR.L vs. IBTU.L - Dividend Comparison
LUTR.L's dividend yield for the trailing twelve months is around 4.63%, more than IBTU.L's 4.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.07% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% | 0.00% | 0.00% | 0.00% |
LUTR.L SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF | 4.63% | 4.40% | 4.22% | 3.13% | 2.56% | 1.72% | 1.91% | 3.60% | 2.49% | 2.61% | 1.14% |
Frequently Asked Questions
LUTR.L and IBTU.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTU.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTU.L is cheaper with a 0.07% expense ratio, compared with 0.15% for LUTR.L.
LUTR.L tracks Bloomberg US Treasury 10+ Year Index, while IBTU.L tracks ICE U.S. Treasury Short Bond Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.15% for LUTR.L and 0.07% for IBTU.L.
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