T1AP.L vs. JU13.L

Last updated Jul 17, 2026

T1AP.L (Invesco US Treasury Bond 0-1 Year UCITS ETF USD (Acc)) and JU13.L (JPM BetaBuilders US Treasury Bond 1-3 Year UCITS ETF USD (Acc)) are both exchange-traded funds - T1AP.L is a Ultrashort Bond fund tracking the Bloomberg US Treasury Coupons Index, while JU13.L is a Government Bonds fund tracking the J.P. Morgan Government Bond Index United States 1-3 Year Select Maturity. Both are passively managed. Over the past 5 years, T1AP.L returned 4.05%/yr vs 2.51%/yr for JU13.L. A 0.78 correlation means they provide meaningful diversification when combined. T1AP.L charges 0.06%/yr vs 0.07%/yr for JU13.L.

Performance

T1AP.L vs. JU13.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco US Treasury Bond 0-1 Year UCITS ETF USD (Acc) (T1AP.L) and JPM BetaBuilders US Treasury Bond 1-3 Year UCITS ETF USD (Acc) (JU13.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

T1AP.L is traded in GBp, while JU13.L is traded in USD. To make them comparable, the JU13.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, T1AP.L achieves a 2.33% return, which is significantly higher than JU13.L's 1.31% return.

T1AP.L

• 1D: 0.32%
• 1M: 0.55%
• 6M: 1.70%
• YTD: 2.33%
• 1Y: 4.49%
• 3Y*: 3.94%
• 5Y*: 4.05%
• 10Y*: —

JU13.L

• 1D: -0.16%
• 1M: 0.37%
• 6M: 0.63%
• YTD: 1.31%
• 1Y: 3.31%
• 3Y*: 3.40%
• 5Y*: 2.51%
• 10Y*: —

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

T1AP.L vs. JU13.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
T1AP.L Invesco US Treasury Bond 0-1 Year UCITS ETF USD (Acc)	2.33%	-2.78%	6.89%	-0.80%	12.56%	1.28%	7,301.82%
JU13.L JPM BetaBuilders US Treasury Bond 1-3 Year UCITS ETF USD (Acc)	1.31%	-2.33%	5.85%	-1.15%	7.64%	0.29%	-1.85%

Correlation

The correlation between T1AP.L and JU13.L is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020	0.78

The correlation between T1AP.L and JU13.L has been stable across timeframes, ranging from 0.71 to 0.78 - a consistent structural relationship.

Return for Risk

T1AP.L vs. JU13.L — Risk / Return Rank

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

T1AP.L

T1AP.L Risk / Return Rank: 25
T1AP.L Sharpe Ratio Rank: 25
T1AP.L Sortino Ratio Rank: 24
T1AP.L Omega Ratio Rank: 23
T1AP.L Calmar Ratio Rank: 27
T1AP.L Martin Ratio Rank: 26

JU13.L

JU13.L Risk / Return Rank: 91
JU13.L Sharpe Ratio Rank: 92
JU13.L Sortino Ratio Rank: 95
JU13.L Omega Ratio Rank: 94
JU13.L Calmar Ratio Rank: 89
JU13.L Martin Ratio Rank: 87

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.

T1AP.L vs. JU13.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco US Treasury Bond 0-1 Year UCITS ETF USD (Acc) (T1AP.L) and JPM BetaBuilders US Treasury Bond 1-3 Year UCITS ETF USD (Acc) (JU13.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.

	T1AP.L	JU13.L	Difference
Sharpe ratio: Return per unit of total volatility	0.76	0.56	+0.20
Sortino ratio: Return per unit of downside risk	1.13	0.82	+0.30
Omega ratio: Gain probability vs. loss probability	1.14	1.10	+0.04
Calmar ratio: Return relative to maximum drawdown	1.08	0.67	+0.42
Martin ratio: Return relative to average drawdown	2.77	1.81	+0.96

T1AP.L vs. JU13.L - Sharpe Ratio Comparison

The current T1AP.L Sharpe Ratio is 0.76, which is higher than the JU13.L Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of T1AP.L and JU13.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

T1AP.L vs. JU13.L - Drawdown Comparison

The maximum T1AP.L drawdown since its inception was -21.77%, which is greater than JU13.L's maximum drawdown of -18.49%. Use the drawdown chart below to compare losses from any high point for T1AP.L and JU13.L.

Drawdown Indicators

	T1AP.L	JU13.L	Difference
Max Drawdown Largest peak-to-trough decline	-21.77%	-18.49%	-3.28%
Max Drawdown (1Y) Largest decline over 1 year	-4.46%	-5.22%	+0.76%
Max Drawdown (3Y) Largest decline over 3 years	-21.77%	-9.21%	-12.56%
Max Drawdown (5Y) Largest decline over 5 years	-21.77%	-16.70%	-5.07%
Current Drawdown Current decline from peak	-15.88%	-7.73%	-8.15%
Average Drawdown Average peak-to-trough decline	-14.05%	-9.24%	-4.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	1.93%	-0.18%

Volatility

T1AP.L vs. JU13.L - Volatility Comparison

Invesco US Treasury Bond 0-1 Year UCITS ETF USD (Acc) (T1AP.L) and JPM BetaBuilders US Treasury Bond 1-3 Year UCITS ETF USD (Acc) (JU13.L) have volatilities of 1.64% and 1.65%, 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

	T1AP.L	JU13.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.64%	1.65%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	4.79%	4.88%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	6.41%	6.29%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.32%	8.17%	+8.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2,962.48%	8.53%	+2,953.95%

T1AP.L vs. JU13.L - Expense Ratio Comparison

T1AP.L has a 0.06% expense ratio, which is lower than JU13.L's 0.07% 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

T1AP.L vs. JU13.L - Dividend Comparison

Neither T1AP.L nor JU13.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
JU13.L JPM BetaBuilders US Treasury Bond 1-3 Year UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.97%
T1AP.L Invesco US Treasury Bond 0-1 Year UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both T1AP.L and JU13.L in my portfolio?

T1AP.L and JU13.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, T1AP.L or JU13.L?

On fees, T1AP.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, T1AP.L or JU13.L?

T1AP.L is cheaper with a 0.06% expense ratio, compared with 0.07% for JU13.L.

What is the main difference between T1AP.L and JU13.L?

T1AP.L is categorized as Ultrashort Bond, while JU13.L is Government Bonds. T1AP.L tracks Bloomberg US Treasury Coupons Index, while JU13.L tracks J.P. Morgan Government Bond Index United States 1-3 Year Select Maturity. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.06% for T1AP.L and 0.07% for JU13.L.