SPTU vs. UESD.L

Last updated Apr 12, 2026

SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) and UESD.L (iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc) are both Ultrashort Bond funds. At 0.04, their price movements are largely independent. SPTU charges 0.05%/yr vs 0.09%/yr for UESD.L.

Performance

SPTU vs. UESD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU) and iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc (UESD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SPTU is traded in USD, while UESD.L is traded in GBP. To make them comparable, the UESD.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPTU achieves a 0.97% return, which is significantly higher than UESD.L's 0.74% return.

SPTU

• 1D: 0.02%
• 1M: 0.31%
• YTD: 0.97%
• 6M: 1.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UESD.L

• 1D: 0.30%
• 1M: 1.14%
• YTD: 0.74%
• 6M: 2.88%
• 1Y: 7.59%
• 3Y*: 7.85%
• 5Y*: 3.06%
• 10Y*: —

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

SPTU vs. UESD.L - Yearly Performance Comparison

	2026 (YTD)	2025
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	0.97%	0.92%
UESD.L iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc	0.74%	1.76%

Correlation

The correlation between SPTU and UESD.L is 0.04, 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 (All Time) Calculated using the full available price history since Oct 9, 2025	0.04

Return for Risk

SPTU vs. UESD.L — Risk / Return Rank

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

UESD.L

UESD.L Risk / Return Rank: 98
UESD.L Sharpe Ratio Rank: 97
UESD.L Sortino Ratio Rank: 98
UESD.L Omega Ratio Rank: 98
UESD.L Calmar Ratio Rank: 99
UESD.L Martin Ratio Rank: 99

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.

SPTU vs. UESD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU) and iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc (UESD.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SPTU	UESD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.21	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	12.12	0.63	+11.49

Drawdowns

SPTU vs. UESD.L - Drawdown Comparison

The maximum SPTU drawdown since its inception was -0.04%, smaller than the maximum UESD.L drawdown of -24.57%. Use the drawdown chart below to compare losses from any high point for SPTU and UESD.L.

Drawdown Indicators

	SPTU	UESD.L	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-0.48%	+0.44%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.41%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	0.00%	-0.08%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.06%	—

Volatility

Volatility by Period

	SPTU	UESD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.71%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.89%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.32%	7.16%	-6.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.32%	8.66%	-8.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.32%	8.81%	-8.49%

SPTU vs. UESD.L - Expense Ratio Comparison

SPTU has a 0.05% expense ratio, which is lower than UESD.L's 0.09% 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

SPTU vs. UESD.L - Dividend Comparison

SPTU's dividend yield for the trailing twelve months is around 1.76%, less than UESD.L's 5.67% yield.

	TTM	2025	2024	2023	2022	2021	2020
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.76%	0.89%	0.00%	0.00%	0.00%	0.00%	0.00%
UESD.L iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc	5.67%	4.63%	5.37%	4.49%	1.21%	0.24%	0.47%