SPP3.DE vs. MDBU.DE
SPP3.DE (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) and MDBU.DE (UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis) are both Government Bonds funds - SPP3.DE tracks the Bloomberg US 3-7 Year Treasury Bond while MDBU.DE tracks the Solactive Global Multilateral Development Bank Bond USD 25% Issuer Capped Index. Both are passively managed. Over the past 5 years, SPP3.DE returned 1.43%/yr vs 1.69%/yr for MDBU.DE. Their correlation of 0.93 suggests significant overlap in exposure. SPP3.DE charges 0.15%/yr vs 0.18%/yr for MDBU.DE.
Performance
SPP3.DE vs. MDBU.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPP3.DE achieves a 0.86% return, which is significantly lower than MDBU.DE's 1.02% return.
SPP3.DE
- 1D
- 0.03%
- 1M
- 0.59%
- YTD
- 0.86%
- 6M
- 0.21%
- 1Y
- 1.40%
- 3Y*
- 0.87%
- 5Y*
- 1.43%
- 10Y*
- 1.16%
MDBU.DE
- 1D
- 0.09%
- 1M
- 0.78%
- YTD
- 1.02%
- 6M
- 0.39%
- 1Y
- 1.13%
- 3Y*
- 0.83%
- 5Y*
- 1.69%
- 10Y*
- —
SPP3.DE vs. MDBU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPP3.DE SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 0.86% | -4.58% | 7.72% | 1.58% | -3.86% | 5.71% | -2.64% | 7.91% | 0.55% |
MDBU.DE UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis | 1.02% | -5.52% | 8.42% | 0.69% | -1.90% | 6.58% | -4.66% | 7.40% | 0.42% |
Correlation
The correlation between SPP3.DE and MDBU.DE is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2018 | 0.93 |
The correlation between SPP3.DE and MDBU.DE has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.
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Return for Risk
SPP3.DE vs. MDBU.DE — Risk / Return Rank
SPP3.DE
MDBU.DE
SPP3.DE vs. MDBU.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (SPP3.DE) and UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis (MDBU.DE). 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.
| SPP3.DE | MDBU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.04 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 0.30 | +0.05 |
| Martin ratioReturn relative to average drawdown | 0.87 | 0.72 | +0.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPP3.DE | MDBU.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 0.21 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.23 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.16 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.22 | -0.09 |
Drawdowns
SPP3.DE vs. MDBU.DE - Drawdown Comparison
The maximum SPP3.DE drawdown since its inception was -16.82%, which is greater than MDBU.DE's maximum drawdown of -12.38%. Use the drawdown chart below to compare losses from any high point for SPP3.DE and MDBU.DE.
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Drawdown Indicators
| SPP3.DE | MDBU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.82% | -12.38% | -4.44% |
Max Drawdown (1Y)Largest decline over 1 year | -4.06% | -3.81% | -0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -9.95% | -10.06% | +0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -11.51% | -12.09% | +0.58% |
Max Drawdown (10Y)Largest decline over 10 years | -16.82% | — | — |
Current DrawdownCurrent decline from peak | -6.25% | -6.60% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -6.75% | -5.71% | -1.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 1.57% | +0.04% |
Volatility
SPP3.DE vs. MDBU.DE - Volatility Comparison
The current volatility for SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (SPP3.DE) is 0.76%, while UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis (MDBU.DE) has a volatility of 0.90%. This indicates that SPP3.DE experiences smaller price fluctuations and is considered to be less risky than MDBU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPP3.DE | MDBU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 0.90% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 3.64% | 3.83% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.29% | 5.40% | -0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.72% | 7.21% | +0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.35% | 6.88% | +0.47% |
SPP3.DE vs. MDBU.DE - Expense Ratio Comparison
SPP3.DE has a 0.15% expense ratio, which is lower than MDBU.DE's 0.18% 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
SPP3.DE vs. MDBU.DE - Dividend Comparison
SPP3.DE's dividend yield for the trailing twelve months is around 3.91%, more than MDBU.DE's 2.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
MDBU.DE UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis | 2.66% | 3.79% | 1.92% | 1.75% | 0.75% | 0.59% | 1.58% | 1.40% | 0.00% | 0.00% | 0.00% |
SPP3.DE SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 3.91% | 3.96% | 3.14% | 2.90% | 1.13% | 0.93% | 1.80% | 2.12% | 1.59% | 1.48% | 0.44% |
Frequently Asked Questions
With a correlation of 0.98, SPP3.DE and MDBU.DE 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, SPP3.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPP3.DE is cheaper with a 0.15% expense ratio, compared with 0.18% for MDBU.DE.
SPP3.DE tracks Bloomberg US 3-7 Year Treasury Bond, while MDBU.DE tracks Solactive Global Multilateral Development Bank Bond USD 25% Issuer Capped Index. They also come from different issuers: State Street and UBS. Their fees differ too: 0.15% for SPP3.DE and 0.18% for MDBU.DE.
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