MDBU.L vs. BBLL.L

Last updated Jun 5, 2026

MDBU.L (UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis) and BBLL.L (JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc)) are both Government Bonds funds - MDBU.L tracks the Solactive Global Multilateral Development Bank Bond USD 25% Issuer Capped Index while BBLL.L tracks the ICE US Treasury 0-1 Year Index. Both are passively managed. Over the past year, MDBU.L returned 4.43% vs 4.96% for BBLL.L. Their correlation of 0.90 suggests significant overlap in exposure. MDBU.L charges 0.18%/yr vs 0.07%/yr for BBLL.L.

Performance

MDBU.L vs. BBLL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis (MDBU.L) and JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) (BBLL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MDBU.L is traded in GBp, while BBLL.L is traded in GBP. To make them comparable, the BBLL.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, MDBU.L achieves a 0.13% return, which is significantly lower than BBLL.L's 1.64% return.

MDBU.L

• 1D: 0.17%
• 1M: 0.98%
• YTD: 0.13%
• 6M: -0.22%
• 1Y: 4.43%
• 3Y*: 1.21%
• 5Y*: 2.03%
• 10Y*: —

BBLL.L

• 1D: 0.05%
• 1M: 1.28%
• YTD: 1.64%
• 6M: 1.15%
• 1Y: 4.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MDBU.L vs. BBLL.L - Yearly Performance Comparison

	2026 (YTD)	2025
MDBU.L UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis	0.13%	2.77%
BBLL.L JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc)	1.64%	2.34%

Correlation

The correlation between MDBU.L and BBLL.L is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025	0.90

The correlation between MDBU.L and BBLL.L has been stable across timeframes, ranging from 0.90 to 0.90 - a consistent structural relationship.

Return for Risk

MDBU.L vs. BBLL.L — Risk / Return Rank

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

MDBU.L

MDBU.L Risk / Return Rank: 21
MDBU.L Sharpe Ratio Rank: 22
MDBU.L Sortino Ratio Rank: 22
MDBU.L Omega Ratio Rank: 21
MDBU.L Calmar Ratio Rank: 21
MDBU.L Martin Ratio Rank: 20

BBLL.L

BBLL.L Risk / Return Rank: 22
BBLL.L Sharpe Ratio Rank: 23
BBLL.L Sortino Ratio Rank: 22
BBLL.L Omega Ratio Rank: 21
BBLL.L Calmar Ratio Rank: 24
BBLL.L Martin Ratio Rank: 23

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.

MDBU.L vs. BBLL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis (MDBU.L) and JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) (BBLL.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.

	MDBU.L	BBLL.L	Difference
Sharpe ratio: Return per unit of total volatility	0.73	0.77	-0.03
Sortino ratio: Return per unit of downside risk	1.13	1.15	-0.02
Omega ratio: Gain probability vs. loss probability	1.13	1.13	-0.01
Calmar ratio: Return relative to maximum drawdown	0.94	1.09	-0.15
Martin ratio: Return relative to average drawdown	2.30	2.77	-0.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MDBU.L vs. BBLL.L - Sharpe Ratio Comparison

The current MDBU.L Sharpe Ratio is 0.73, which is comparable to the BBLL.L Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of MDBU.L and BBLL.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

	MDBU.L	BBLL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.73	0.77	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.57	-0.44

Drawdowns

MDBU.L vs. BBLL.L - Drawdown Comparison

The maximum MDBU.L drawdown since its inception was -18.04%, which is greater than BBLL.L's maximum drawdown of -4.55%. Use the drawdown chart below to compare losses from any high point for MDBU.L and BBLL.L.

Drawdown Indicators

	MDBU.L	BBLL.L	Difference
Max Drawdown Largest peak-to-trough decline	-18.04%	-4.55%	-13.49%
Max Drawdown (1Y) Largest decline over 1 year	-4.76%	-4.55%	-0.21%
Max Drawdown (3Y) Largest decline over 3 years	-7.99%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.15%	—	—
Current Drawdown Current decline from peak	-9.05%	-1.11%	-7.94%
Average Drawdown Average peak-to-trough decline	-10.90%	-1.59%	-9.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	1.79%	+0.14%

Volatility

MDBU.L vs. BBLL.L - Volatility Comparison

The current volatility for UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis (MDBU.L) is 1.66%, while JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) (BBLL.L) has a volatility of 1.86%. This indicates that MDBU.L experiences smaller price fluctuations and is considered to be less risky than BBLL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDBU.L	BBLL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	1.86%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	4.44%	4.69%	-0.25%
Volatility (1Y) Calculated over the trailing 1-year period	6.06%	6.43%	-0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.41%	6.41%	+2.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.23%	6.41%	+2.82%

MDBU.L vs. BBLL.L - Expense Ratio Comparison

MDBU.L has a 0.18% expense ratio, which is higher than BBLL.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

MDBU.L vs. BBLL.L - Dividend Comparison

MDBU.L's dividend yield for the trailing twelve months is around 3.14%, while BBLL.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BBLL.L JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MDBU.L UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis	3.14%	3.96%	2.14%	1.92%	0.75%	0.74%	1.73%	1.66%

Frequently Asked Questions

Can I hold both MDBU.L and BBLL.L in my portfolio?

With a correlation of 0.90, MDBU.L and BBLL.L 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.

Which ETF is better, MDBU.L or BBLL.L?

On fees, BBLL.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MDBU.L or BBLL.L?

BBLL.L is cheaper with a 0.07% expense ratio, compared with 0.18% for MDBU.L.

What is the main difference between MDBU.L and BBLL.L?

MDBU.L tracks Solactive Global Multilateral Development Bank Bond USD 25% Issuer Capped Index, while BBLL.L tracks ICE US Treasury 0-1 Year Index. They also come from different issuers: UBS and JPMorgan. Their fees differ too: 0.18% for MDBU.L and 0.07% for BBLL.L.