TFRN.L vs. XUT3.L
TFRN.L (WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc) and XUT3.L (Xtrackers II US Treasuries 1-3 UCITS ETF 1D) are both Government Bonds funds - TFRN.L tracks the Bloomberg US Treasury Floating Rate Bond Index while XUT3.L tracks the iBoxx USD Treasuries 1-3 Index. Both are passively managed. Over the past 5 years, TFRN.L returned 3.64%/yr vs 1.87%/yr for XUT3.L. At a 0.01 correlation, their price movements are largely independent. TFRN.L charges 0.15%/yr vs 0.06%/yr for XUT3.L.
Performance
TFRN.L vs. XUT3.L - Performance Comparison
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Returns By Period
In the year-to-date period, TFRN.L achieves a 1.80% return, which is significantly higher than XUT3.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*
- —
XUT3.L
- 1D
- 0.01%
- 1M
- 0.10%
- YTD
- 0.42%
- 6M
- 0.56%
- 1Y
- 2.95%
- 3Y*
- 4.20%
- 5Y*
- 1.87%
- 10Y*
- 1.69%
TFRN.L vs. XUT3.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% |
XUT3.L Xtrackers II US Treasuries 1-3 UCITS ETF 1D | 0.42% | 5.06% | 4.13% | 4.10% | -3.60% | -0.62% | 2.95% | 2.92% |
Correlation
The correlation between TFRN.L and XUT3.L is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
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 | 0.01 |
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Return for Risk
TFRN.L vs. XUT3.L — Risk / Return Rank
TFRN.L
XUT3.L
TFRN.L vs. XUT3.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 Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.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 | XUT3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.59 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.92 | 4.61 | -0.69 |
| Martin ratioReturn relative to average drawdown | 34.08 | 17.61 | +16.47 |
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Drawdowns
TFRN.L vs. XUT3.L - Drawdown Comparison
The maximum TFRN.L drawdown since its inception was -3.10%, smaller than the maximum XUT3.L drawdown of -5.45%. Use the drawdown chart below to compare losses from any high point for TFRN.L and XUT3.L.
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Drawdown Indicators
| TFRN.L | XUT3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.10% | -5.45% | +2.35% |
Max Drawdown (1Y)Largest decline over 1 year | -0.98% | -0.67% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -0.98% | -0.91% | -0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -0.98% | -5.45% | +4.47% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.45% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.24% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -0.09% | -0.55% | +0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | 0.18% | -0.07% |
Volatility
TFRN.L vs. XUT3.L - Volatility Comparison
The current volatility for WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc (TFRN.L) is 0.17%, while Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.L) has a volatility of 0.39%. This indicates that TFRN.L experiences smaller price fluctuations and is considered to be less risky than XUT3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TFRN.L | XUT3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.17% | 0.39% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 0.92% | 0.84% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.92% | 1.13% | +0.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.51% | 1.89% | -0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.88% | 1.49% | +0.39% |
TFRN.L vs. XUT3.L - Expense Ratio Comparison
TFRN.L has a 0.15% expense ratio, which is higher than XUT3.L's 0.06% 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. XUT3.L - Dividend Comparison
TFRN.L has not paid dividends to shareholders, while XUT3.L's dividend yield for the trailing twelve months is around 2.84%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
XUT3.L Xtrackers II US Treasuries 1-3 UCITS ETF 1D | 2.84% | 2.70% | 2.35% | 1.80% | 1.00% | 2.89% | 2.43% | 1.16% | 1.00% | 0.69% |
Frequently Asked Questions
TFRN.L and XUT3.L have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUT3.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUT3.L is cheaper with a 0.06% expense ratio, compared with 0.15% for TFRN.L.
TFRN.L tracks Bloomberg US Treasury Floating Rate Bond Index, while XUT3.L tracks iBoxx USD Treasuries 1-3 Index. They also come from different issuers: WisdomTree and Xtrackers. Their fees differ too: 0.15% for TFRN.L and 0.06% for XUT3.L.
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