PRIT.L vs. CBND.L

Last updated Jul 16, 2026

PRIT.L (Amundi Prime US Treasury UCITS ETF DR (D)) and CBND.L (Goldman Sachs Access China Government Bond UCITS ETF USD (Dist)) are both Government Bonds funds - PRIT.L tracks the Solactive US Treasury Bond Index while CBND.L tracks the FTSE Goldman Sachs China Government Bond Index. Both are passively managed. Over the past 5 years, PRIT.L returned 0.04%/yr vs 3.21%/yr for CBND.L. A 0.51 correlation means they provide meaningful diversification when combined. PRIT.L charges 0.05%/yr vs 0.24%/yr for CBND.L.

Performance

PRIT.L vs. CBND.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi Prime US Treasury UCITS ETF DR (D) (PRIT.L) and Goldman Sachs Access China Government Bond UCITS ETF USD (Dist) (CBND.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PRIT.L is traded in GBp, while CBND.L is traded in USD. To make them comparable, the CBND.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, PRIT.L achieves a 0.11% return, which is significantly lower than CBND.L's 4.44% return.

PRIT.L

• 1D: 0.10%
• 1M: 0.03%
• 6M: -0.02%
• YTD: 0.11%
• 1Y: 3.39%
• 3Y*: 2.17%
• 5Y*: 0.04%
• 10Y*: —

CBND.L

• 1D: -0.99%
• 1M: -0.86%
• 6M: 4.01%
• YTD: 4.44%
• 1Y: 6.30%
• 3Y*: 4.41%
• 5Y*: 3.21%
• 10Y*: —

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

PRIT.L vs. CBND.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PRIT.L Amundi Prime US Treasury UCITS ETF DR (D)	0.11%	-1.06%	2.58%	-1.73%	-1.78%	-0.98%	4.03%	-1.30%
CBND.L Goldman Sachs Access China Government Bond UCITS ETF USD (Dist)	4.44%	-2.44%	6.50%	-3.78%	6.10%	8.62%	5.51%	0.03%

Correlation

The correlation between PRIT.L and CBND.L is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Oct 22, 2019	0.51

The correlation between PRIT.L and CBND.L has been stable across timeframes, ranging from 0.50 to 0.54 - a consistent structural relationship.

Return for Risk

PRIT.L vs. CBND.L — Risk / Return Rank

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

PRIT.L

PRIT.L Risk / Return Rank: 19
PRIT.L Sharpe Ratio Rank: 21
PRIT.L Sortino Ratio Rank: 20
PRIT.L Omega Ratio Rank: 18
PRIT.L Calmar Ratio Rank: 19
PRIT.L Martin Ratio Rank: 18

CBND.L

CBND.L Risk / Return Rank: 92
CBND.L Sharpe Ratio Rank: 90
CBND.L Sortino Ratio Rank: 92
CBND.L Omega Ratio Rank: 90
CBND.L Calmar Ratio Rank: 96
CBND.L Martin Ratio Rank: 93

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.

PRIT.L vs. CBND.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Prime US Treasury UCITS ETF DR (D) (PRIT.L) and Goldman Sachs Access China Government Bond UCITS ETF USD (Dist) (CBND.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.

	PRIT.L	CBND.L	Difference
Sharpe ratio: Return per unit of total volatility	0.59	0.98	-0.39
Sortino ratio: Return per unit of downside risk	0.93	1.43	-0.50
Omega ratio: Gain probability vs. loss probability	1.10	1.18	-0.07
Calmar ratio: Return relative to maximum drawdown	0.69	1.84	-1.15
Martin ratio: Return relative to average drawdown	1.57	5.14	-3.57

PRIT.L vs. CBND.L - Sharpe Ratio Comparison

The current PRIT.L Sharpe Ratio is 0.59, which is lower than the CBND.L Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of PRIT.L and CBND.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.

Drawdowns

PRIT.L vs. CBND.L - Drawdown Comparison

The maximum PRIT.L drawdown since its inception was -24.81%, which is greater than CBND.L's maximum drawdown of -16.35%. Use the drawdown chart below to compare losses from any high point for PRIT.L and CBND.L.

Drawdown Indicators

	PRIT.L	CBND.L	Difference
Max Drawdown Largest peak-to-trough decline	-24.81%	-16.35%	-8.46%
Max Drawdown (1Y) Largest decline over 1 year	-5.19%	-3.40%	-1.79%
Max Drawdown (3Y) Largest decline over 3 years	-8.19%	-9.09%	+0.90%
Max Drawdown (5Y) Largest decline over 5 years	-16.09%	-16.35%	+0.26%
Current Drawdown Current decline from peak	-18.47%	-4.42%	-14.05%
Average Drawdown Average peak-to-trough decline	-17.37%	-7.47%	-9.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.28%	1.22%	+1.06%

Volatility

PRIT.L vs. CBND.L - Volatility Comparison

Amundi Prime US Treasury UCITS ETF DR (D) (PRIT.L) and Goldman Sachs Access China Government Bond UCITS ETF USD (Dist) (CBND.L) have volatilities of 1.86% and 1.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRIT.L	CBND.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.86%	1.90%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	4.47%	4.90%	-0.43%
Volatility (1Y) Calculated over the trailing 1-year period	6.05%	6.39%	-0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.67%	7.92%	+0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.82%	8.34%	+4.48%

PRIT.L vs. CBND.L - Expense Ratio Comparison

PRIT.L has a 0.05% expense ratio, which is lower than CBND.L's 0.24% 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

PRIT.L vs. CBND.L - Dividend Comparison

PRIT.L's dividend yield for the trailing twelve months is around 3.22%, more than CBND.L's 2.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
CBND.L Goldman Sachs Access China Government Bond UCITS ETF USD (Dist)	2.04%	2.20%	2.45%	2.54%	2.72%	2.52%	1.87%	0.00%
PRIT.L Amundi Prime US Treasury UCITS ETF DR (D)	3.22%	3.22%	2.79%	2.34%	1.88%	1.74%	2.11%	1.94%

Frequently Asked Questions

Can I hold both PRIT.L and CBND.L in my portfolio?

PRIT.L and CBND.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PRIT.L or CBND.L?

On fees, PRIT.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PRIT.L or CBND.L?

PRIT.L is cheaper with a 0.05% expense ratio, compared with 0.24% for CBND.L.

What is the main difference between PRIT.L and CBND.L?

PRIT.L tracks Solactive US Treasury Bond Index, while CBND.L tracks FTSE Goldman Sachs China Government Bond Index. They also come from different issuers: Amundi and Goldman Sachs. Their fees differ too: 0.05% for PRIT.L and 0.24% for CBND.L.