LUTR.L vs. TFRN.L
LUTR.L (SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF) and TFRN.L (WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc) are both Government Bonds funds - LUTR.L tracks the Bloomberg US Treasury 10+ Year Index while TFRN.L tracks the Bloomberg US Treasury Floating Rate Bond Index. Both are passively managed. Over the past 5 years, LUTR.L returned -5.20%/yr vs 3.65%/yr for TFRN.L. At a correlation of -0.01, they often move in opposite directions. Both charge a 0.15% expense ratio.
Performance
LUTR.L vs. TFRN.L - Performance Comparison
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Returns By Period
In the year-to-date period, LUTR.L achieves a 1.10% return, which is significantly lower than TFRN.L's 1.82% return.
LUTR.L
- 1D
- 0.09%
- 1M
- 2.90%
- YTD
- 1.10%
- 6M
- 1.71%
- 1Y
- 5.31%
- 3Y*
- -0.41%
- 5Y*
- -5.20%
- 10Y*
- -1.35%
TFRN.L
- 1D
- 0.02%
- 1M
- 0.33%
- YTD
- 1.82%
- 6M
- 1.75%
- 1Y
- 4.02%
- 3Y*
- 4.68%
- 5Y*
- 3.65%
- 10Y*
- —
LUTR.L vs. TFRN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
LUTR.L SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF | 1.10% | 5.45% | -5.75% | 2.50% | -28.87% | -4.84% | 16.57% | 13.81% |
TFRN.L WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc | 1.82% | 4.10% | 5.44% | 4.94% | 2.04% | -0.15% | 0.57% | 1.59% |
Correlation
The correlation between LUTR.L and TFRN.L is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2019 | -0.01 |
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Return for Risk
LUTR.L vs. TFRN.L — Risk / Return Rank
LUTR.L
TFRN.L
LUTR.L vs. TFRN.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 WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc (TFRN.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.
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.
| LUTR.L | TFRN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.48 | ||
| Sortino ratioReturn per unit of downside risk | -2.33 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.63 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | 4.10 | -3.35 |
| Martin ratioReturn relative to average drawdown | 1.91 | 35.75 | -33.84 |
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Drawdowns
LUTR.L vs. TFRN.L - Drawdown Comparison
The maximum LUTR.L drawdown since its inception was -46.52%, which is greater than TFRN.L's maximum drawdown of -3.10%. Use the drawdown chart below to compare losses from any high point for LUTR.L and TFRN.L.
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Drawdown Indicators
| LUTR.L | TFRN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.52% | -3.10% | -43.42% |
Max Drawdown (1Y)Largest decline over 1 year | -6.99% | -0.98% | -6.01% |
Max Drawdown (3Y)Largest decline over 3 years | -16.72% | -0.98% | -15.74% |
Max Drawdown (5Y)Largest decline over 5 years | -40.30% | -0.98% | -39.32% |
Max Drawdown (10Y)Largest decline over 10 years | -46.52% | — | — |
Current DrawdownCurrent decline from peak | -36.30% | 0.00% | -36.30% |
Average DrawdownAverage peak-to-trough decline | -20.80% | -0.09% | -20.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 0.11% | +2.66% |
Volatility
LUTR.L vs. TFRN.L - Volatility Comparison
SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF (LUTR.L) has a higher volatility of 2.19% compared to WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc (TFRN.L) at 0.14%. This indicates that LUTR.L's price experiences larger fluctuations and is considered to be riskier than TFRN.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 | TFRN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.19% | 0.14% | +2.05% |
Volatility (6M)Calculated over the trailing 6-month period | 6.10% | 0.91% | +5.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.73% | 1.92% | +6.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.93% | 1.51% | +12.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.20% | 1.88% | +11.32% |
LUTR.L vs. TFRN.L - Expense Ratio Comparison
Both LUTR.L and TFRN.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
LUTR.L vs. TFRN.L - Dividend Comparison
LUTR.L's dividend yield for the trailing twelve months is around 4.54%, while TFRN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
LUTR.L SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF | 4.54% | 4.40% | 4.22% | 3.13% | 2.56% | 1.72% | 1.91% | 2.42% | 2.49% | 2.61% | 1.14% |
TFRN.L WisdomTree USD Floating Rate Treasury Bond 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% |
Frequently Asked Questions
LUTR.L and TFRN.L have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
LUTR.L and TFRN.L have the same expense ratio: 0.15% per year.
LUTR.L tracks Bloomberg US Treasury 10+ Year Index, while TFRN.L tracks Bloomberg US Treasury Floating Rate Bond Index. They also come from different issuers: State Street and WisdomTree.
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