QUID.L vs. U03A.L
QUID.L (PIMCO Sterling Short Maturity UCITS ETF GBP (Dist)) and U03A.L (iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc)) are both Ultrashort Bond funds. QUID.L is actively managed, while U03A.L is passively managed. Over the past year, QUID.L returned 4.24% vs 3.47% for U03A.L. At a correlation of -0.04, they often move in opposite directions. QUID.L charges 0.19%/yr vs 0.07%/yr for U03A.L.
Performance
QUID.L vs. U03A.L - Performance Comparison
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Different Trading Currencies
QUID.L is traded in GBP, while U03A.L is traded in USD. To make them comparable, the U03A.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, QUID.L achieves a 2.08% return, which is significantly higher than U03A.L's 1.94% return.
QUID.L
- 1D
- -0.02%
- 1M
- 0.31%
- 6M
- 1.83%
- YTD
- 2.08%
- 1Y
- 4.24%
- 3Y*
- 5.08%
- 5Y*
- 3.26%
- 10Y*
- 1.99%
U03A.L
- 1D
- 0.00%
- 1M
- -1.07%
- 6M
- 1.09%
- YTD
- 1.94%
- 1Y
- 3.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QUID.L vs. U03A.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QUID.L PIMCO Sterling Short Maturity UCITS ETF GBP (Dist) | 2.08% | 3.93% |
U03A.L iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc) | 1.95% | -2.34% |
Correlation
The correlation between QUID.L and U03A.L is -0.01, 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 | -0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2025 | -0.04 |
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Return for Risk
QUID.L vs. U03A.L — Risk / Return Rank
QUID.L
U03A.L
QUID.L vs. U03A.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Sterling Short Maturity UCITS ETF GBP (Dist) (QUID.L) and iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc) (U03A.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.
| QUID.L | U03A.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.29 | ||
| Sortino ratioReturn per unit of downside risk | +9.61 | ||
| Omega ratioGain probability vs. loss probability | 2.71 | 1.09 | +1.62 |
| Calmar ratioReturn relative to maximum drawdown | 9.44 | 0.67 | +8.77 |
| Martin ratioReturn relative to average drawdown | 75.59 | 1.80 | +73.78 |
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Drawdowns
QUID.L vs. U03A.L - Drawdown Comparison
The maximum QUID.L drawdown since its inception was -2.47%, smaller than the maximum U03A.L drawdown of -6.63%. Use the drawdown chart below to compare losses from any high point for QUID.L and U03A.L.
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Drawdown Indicators
| QUID.L | U03A.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.47% | -6.63% | +4.16% |
Max Drawdown (1Y)Largest decline over 1 year | -0.45% | -5.18% | +4.73% |
Max Drawdown (3Y)Largest decline over 3 years | -0.45% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -2.47% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -2.47% | — | — |
Current DrawdownCurrent decline from peak | -0.02% | -2.04% | +2.02% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -2.74% | +2.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | 1.92% | -1.86% |
Volatility
QUID.L vs. U03A.L - Volatility Comparison
The current volatility for PIMCO Sterling Short Maturity UCITS ETF GBP (Dist) (QUID.L) is 0.17%, while iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc) (U03A.L) has a volatility of 1.69%. This indicates that QUID.L experiences smaller price fluctuations and is considered to be less risky than U03A.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QUID.L | U03A.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.17% | 1.69% | -1.52% |
Volatility (6M)Calculated over the trailing 6-month period | 0.64% | 5.07% | -4.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.73% | 6.63% | -5.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.74% | 7.03% | -6.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.62% | 7.03% | -6.41% |
QUID.L vs. U03A.L - Expense Ratio Comparison
QUID.L has a 0.19% expense ratio, which is higher than U03A.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
QUID.L vs. U03A.L - Dividend Comparison
QUID.L's dividend yield for the trailing twelve months is around 3.84%, while U03A.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QUID.L PIMCO Sterling Short Maturity UCITS ETF GBP (Dist) | 3.84% | 4.19% | 4.67% | 3.69% | 0.66% | 0.08% | 0.31% | 0.73% | 0.52% | 0.33% | 0.59% | 0.55% |
U03A.L iShares USD Treasury Bond 0-3 Month 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% | 0.00% |
Frequently Asked Questions
QUID.L and U03A.L have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, U03A.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
U03A.L is cheaper with a 0.07% expense ratio, compared with 0.19% for QUID.L.
They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.19% for QUID.L and 0.07% for U03A.L.
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