PRIT.L vs. SMBS.L
PRIT.L (Amundi Prime US Treasury UCITS ETF DR (D)) and SMBS.L (iShares US Mortgage Backed Securities UCITS ETF) are both exchange-traded funds - PRIT.L is a Government Bonds fund tracking the Solactive US Treasury Bond Index, while SMBS.L is a Mortgage Backed Securities fund tracking the Bloomberg US Mortgage Backed Securities Index. Both are passively managed. Over the past 5 years, PRIT.L returned 0.68%/yr vs 1.18%/yr for SMBS.L. Their correlation of 0.91 suggests significant overlap in exposure. PRIT.L charges 0.05%/yr vs 0.28%/yr for SMBS.L.
Performance
PRIT.L vs. SMBS.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PRIT.L achieves a -0.24% return, which is significantly lower than SMBS.L's 0.19% return.
PRIT.L
- 1D
- 0.02%
- 1M
- 1.17%
- YTD
- -0.24%
- 6M
- -0.95%
- 1Y
- 4.33%
- 3Y*
- 0.28%
- 5Y*
- 0.68%
- 10Y*
- —
SMBS.L
- 1D
- 0.13%
- 1M
- 1.20%
- YTD
- 0.19%
- 6M
- -0.06%
- 1Y
- 7.10%
- 3Y*
- 1.47%
- 5Y*
- 1.18%
- 10Y*
- 1.86%
PRIT.L vs. SMBS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PRIT.L Amundi Prime US Treasury UCITS ETF DR (D) | -0.24% | -1.06% | 2.57% | -1.73% | -1.79% | -0.98% | 4.03% | 5.36% |
SMBS.L iShares US Mortgage Backed Securities UCITS ETF | 0.19% | 1.02% | 3.07% | -1.87% | -0.85% | -0.38% | 0.15% | 5.58% |
Correlation
The correlation between PRIT.L and SMBS.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2019 | 0.91 |
The correlation between PRIT.L and SMBS.L has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PRIT.L vs. SMBS.L — Risk / Return Rank
PRIT.L
SMBS.L
PRIT.L vs. SMBS.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 iShares US Mortgage Backed Securities UCITS ETF (SMBS.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.
| PRIT.L | SMBS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.20 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | 1.65 | -0.81 |
| Martin ratioReturn relative to average drawdown | 1.98 | 4.24 | -2.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| PRIT.L | SMBS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | 1.17 | -0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.14 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.19 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.20 | -0.11 |
Drawdowns
PRIT.L vs. SMBS.L - Drawdown Comparison
The maximum PRIT.L drawdown since its inception was -20.06%, roughly equal to the maximum SMBS.L drawdown of -20.65%. Use the drawdown chart below to compare losses from any high point for PRIT.L and SMBS.L.
Loading charts...
Drawdown Indicators
| PRIT.L | SMBS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.06% | -20.65% | +0.59% |
Max Drawdown (1Y)Largest decline over 1 year | -5.19% | -4.30% | -0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -8.33% | -8.46% | +0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -16.09% | -15.38% | -0.71% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.65% | — |
Current DrawdownCurrent decline from peak | -15.03% | -12.65% | -2.38% |
Average DrawdownAverage peak-to-trough decline | -12.54% | -11.05% | -1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.19% | 1.67% | +0.52% |
Volatility
PRIT.L vs. SMBS.L - Volatility Comparison
The current volatility for Amundi Prime US Treasury UCITS ETF DR (D) (PRIT.L) is 1.52%, while iShares US Mortgage Backed Securities UCITS ETF (SMBS.L) has a volatility of 1.65%. This indicates that PRIT.L experiences smaller price fluctuations and is considered to be less risky than SMBS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PRIT.L | SMBS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.52% | 1.65% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 4.44% | 4.49% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.04% | 6.07% | -0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.89% | 8.57% | +0.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.33% | 10.03% | -0.70% |
PRIT.L vs. SMBS.L - Expense Ratio Comparison
PRIT.L has a 0.05% expense ratio, which is lower than SMBS.L's 0.28% expense ratio.
Dividends
PRIT.L vs. SMBS.L - Dividend Comparison
PRIT.L's dividend yield for the trailing twelve months is around 3.23%, less than SMBS.L's 3.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
PRIT.L Amundi Prime US Treasury UCITS ETF DR (D) | 3.23% | 3.22% | 2.79% | 2.34% | 1.87% | 1.74% | 2.11% | 0.00% | 0.00% | 0.00% | 0.00% |
SMBS.L iShares US Mortgage Backed Securities UCITS ETF | 3.57% | 3.57% | 3.50% | 3.23% | 2.39% | 2.22% | 2.71% | 3.06% | 2.99% | 3.00% | 1.51% |
Frequently Asked Questions
With a correlation of 0.96, PRIT.L and SMBS.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.
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.
PRIT.L is cheaper with a 0.05% expense ratio, compared with 0.28% for SMBS.L.
PRIT.L is categorized as Government Bonds, while SMBS.L is Mortgage Backed Securities. PRIT.L tracks Solactive US Treasury Bond Index, while SMBS.L tracks Bloomberg US Mortgage Backed Securities Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.05% for PRIT.L and 0.28% for SMBS.L.
Find the right allocation for PRIT.L and SMBS.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer