TFRN.L vs. J13U.L

Last updated Jun 24, 2026

TFRN.L (WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc) and J13U.L (JPMorgan BetaBuilders US Treasury Bond 1-3 yr UCITS ETF - USD (Acc)) are both Government Bonds funds - TFRN.L tracks the Bloomberg US Treasury Floating Rate Bond Index while J13U.L tracks the J.P. Morgan Government Bond US 1-3 Index. Both are passively managed. Over the past 5 years, TFRN.L returned 3.64%/yr vs 1.80%/yr for J13U.L. At a correlation of -0.02, they often move in opposite directions. TFRN.L charges 0.15%/yr vs 0.07%/yr for J13U.L.

Performance

TFRN.L vs. J13U.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc (TFRN.L) and JPMorgan BetaBuilders US Treasury Bond 1-3 yr UCITS ETF - USD (Acc) (J13U.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TFRN.L is traded in USD, while J13U.L is traded in GBP. To make them comparable, the J13U.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, TFRN.L achieves a 1.80% return, which is significantly higher than J13U.L's 0.42% return.

TFRN.L

• 1D: 0.05%
• 1M: 0.43%
• YTD: 1.80%
• 6M: 1.94%
• 1Y: 3.85%
• 3Y*: 4.68%
• 5Y*: 3.64%
• 10Y*: —

J13U.L

• 1D: 0.13%
• 1M: 0.34%
• YTD: 0.42%
• 6M: 0.37%
• 1Y: 2.82%
• 3Y*: 4.17%
• 5Y*: 1.80%
• 10Y*: —

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

TFRN.L vs. J13U.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TFRN.L WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc	1.80%	4.10%	5.44%	4.94%	2.04%	-0.15%	0.57%	1.59%
J13U.L JPMorgan BetaBuilders US Treasury Bond 1-3 yr UCITS ETF - USD (Acc)	0.42%	5.40%	3.97%	3.53%	-3.82%	-0.28%	2.73%	3.43%

Correlation

The correlation between TFRN.L and J13U.L is -0.02, 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	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Mar 21, 2019	-0.02

Return for Risk

TFRN.L vs. J13U.L — Risk / Return Rank

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

TFRN.L

TFRN.L Risk / Return Rank: 83
TFRN.L Sharpe Ratio Rank: 68
TFRN.L Sortino Ratio Rank: 77
TFRN.L Omega Ratio Rank: 93
TFRN.L Calmar Ratio Rank: 82
TFRN.L Martin Ratio Rank: 96

J13U.L

J13U.L Risk / Return Rank: 25
J13U.L Sharpe Ratio Rank: 26
J13U.L Sortino Ratio Rank: 25
J13U.L Omega Ratio Rank: 23
J13U.L Calmar Ratio Rank: 26
J13U.L Martin Ratio Rank: 25

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.

TFRN.L vs. J13U.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc (TFRN.L) and JPMorgan BetaBuilders US Treasury Bond 1-3 yr UCITS ETF - USD (Acc) (J13U.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.

	TFRN.L	J13U.L	Difference
Sharpe ratio: Return per unit of total volatility	1.99	0.66	+1.34
Sortino ratio: Return per unit of downside risk	3.10	0.97	+2.13
Omega ratio: Gain probability vs. loss probability	1.59	1.11	+0.47
Calmar ratio: Return relative to maximum drawdown	3.92	2.46	+1.46
Martin ratio: Return relative to average drawdown	34.08	7.02	+27.06

TFRN.L vs. J13U.L - Sharpe Ratio Comparison

The current TFRN.L Sharpe Ratio is 1.99, which is higher than the J13U.L Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of TFRN.L and J13U.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

TFRN.L vs. J13U.L - Drawdown Comparison

The maximum TFRN.L drawdown since its inception was -3.10%, smaller than the maximum J13U.L drawdown of -25.75%. Use the drawdown chart below to compare losses from any high point for TFRN.L and J13U.L.

Drawdown Indicators

	TFRN.L	J13U.L	Difference
Max Drawdown Largest peak-to-trough decline	-3.10%	-25.75%	+22.65%
Max Drawdown (1Y) Largest decline over 1 year	-0.98%	-1.14%	+0.16%
Max Drawdown (3Y) Largest decline over 3 years	-0.98%	-19.57%	+18.59%
Max Drawdown (5Y) Largest decline over 5 years	-0.98%	-19.57%	+18.59%
Current Drawdown Current decline from peak	0.00%	-11.67%	+11.67%
Average Drawdown Average peak-to-trough decline	-0.09%	-19.05%	+18.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.11%	0.40%	-0.29%

Volatility

TFRN.L vs. J13U.L - Volatility Comparison

The current volatility for WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc (TFRN.L) is 0.17%, while JPMorgan BetaBuilders US Treasury Bond 1-3 yr UCITS ETF - USD (Acc) (J13U.L) has a volatility of 1.58%. This indicates that TFRN.L experiences smaller price fluctuations and is considered to be less risky than J13U.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TFRN.L	J13U.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.17%	1.58%	-1.41%
Volatility (6M) Calculated over the trailing 6-month period	0.92%	3.60%	-2.68%
Volatility (1Y) Calculated over the trailing 1-year period	1.92%	4.31%	-2.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.51%	14.91%	-13.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.88%	14.47%	-12.59%

TFRN.L vs. J13U.L - Expense Ratio Comparison

TFRN.L has a 0.15% expense ratio, which is higher than J13U.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

TFRN.L vs. J13U.L - Dividend Comparison

Neither TFRN.L nor J13U.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
J13U.L JPMorgan BetaBuilders US Treasury Bond 1-3 yr UCITS ETF - USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.95%
TFRN.L WisdomTree USD Floating Rate Treasury Bond 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 TFRN.L and J13U.L in my portfolio?

TFRN.L and J13U.L have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TFRN.L or J13U.L?

On fees, J13U.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TFRN.L or J13U.L?

J13U.L is cheaper with a 0.07% expense ratio, compared with 0.15% for TFRN.L.

What is the main difference between TFRN.L and J13U.L?

TFRN.L tracks Bloomberg US Treasury Floating Rate Bond Index, while J13U.L tracks J.P. Morgan Government Bond US 1-3 Index. They also come from different issuers: WisdomTree and JPMorgan. Their fees differ too: 0.15% for TFRN.L and 0.07% for J13U.L.