U03A.L vs. BBLL.L
U03A.L (iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc)) and BBLL.L (JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc)) are both exchange-traded funds - U03A.L is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Bill Index, while BBLL.L is a Government Bonds fund tracking the ICE US Treasury 0-1 Year Index. Both are passively managed. Over the past year, U03A.L returned 4.02% vs 3.96% for BBLL.L. At a 0.08 correlation, their price movements are largely independent. Both charge a 0.07% expense ratio.
Performance
U03A.L vs. BBLL.L - Performance Comparison
Loading charts...
Different Trading Currencies
U03A.L is traded in USD, while BBLL.L is traded in GBP. To make them comparable, the BBLL.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, U03A.L achieves a 1.51% return, which is significantly higher than BBLL.L's 1.39% return.
U03A.L
- 1D
- 0.03%
- 1M
- 0.29%
- YTD
- 1.51%
- 6M
- 1.81%
- 1Y
- 4.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BBLL.L
- 1D
- 0.10%
- 1M
- 0.42%
- YTD
- 1.39%
- 6M
- 1.90%
- 1Y
- 3.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
U03A.L vs. BBLL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
U03A.L iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc) | 1.51% | 2.90% |
BBLL.L JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) | 1.39% | 2.52% |
Correlation
The correlation between U03A.L and BBLL.L is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025 | 0.08 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
U03A.L vs. BBLL.L — Risk / Return Rank
U03A.L
BBLL.L
U03A.L vs. BBLL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc) (U03A.L) and JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) (BBLL.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.
| U03A.L | BBLL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.90 | ||
| Sortino ratioReturn per unit of downside risk | +18.98 | ||
| Omega ratioGain probability vs. loss probability | 5.03 | 1.17 | +3.86 |
| Calmar ratioReturn relative to maximum drawdown | 41.98 | 4.46 | +37.52 |
| Martin ratioReturn relative to average drawdown | 274.18 | 13.72 | +260.47 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| U03A.L | BBLL.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 8.85 | 0.95 | +7.90 |
Sharpe Ratio (All Time)Calculated using the full available price history | 4.99 | 0.85 | +4.14 |
Drawdowns
U03A.L vs. BBLL.L - Drawdown Comparison
The maximum U03A.L drawdown since its inception was -0.83%, smaller than the maximum BBLL.L drawdown of -0.88%. Use the drawdown chart below to compare losses from any high point for U03A.L and BBLL.L.
Loading charts...
Drawdown Indicators
| U03A.L | BBLL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.83% | -0.88% | +0.05% |
Max Drawdown (1Y)Largest decline over 1 year | -0.10% | -0.88% | +0.78% |
Current DrawdownCurrent decline from peak | 0.00% | -0.17% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -0.01% | -0.23% | +0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.29% | -0.28% |
Volatility
U03A.L vs. BBLL.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc) (U03A.L) is 0.13%, while JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) (BBLL.L) has a volatility of 1.41%. This indicates that U03A.L experiences smaller price fluctuations and is considered to be less risky than BBLL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| U03A.L | BBLL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 1.41% | -1.28% |
Volatility (6M)Calculated over the trailing 6-month period | 0.26% | 3.50% | -3.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.45% | 4.15% | -3.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.88% | 4.21% | -3.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.88% | 4.21% | -3.33% |
U03A.L vs. BBLL.L - Expense Ratio Comparison
Both U03A.L and BBLL.L have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
U03A.L vs. BBLL.L - Dividend Comparison
Neither U03A.L nor BBLL.L has paid dividends to shareholders.
Frequently Asked Questions
U03A.L and BBLL.L have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
U03A.L and BBLL.L have the same expense ratio: 0.07% per year.
U03A.L is categorized as Ultrashort Bond, while BBLL.L is Government Bonds. U03A.L tracks ICE 0-3 Month US Treasury Bill Index, while BBLL.L tracks ICE US Treasury 0-1 Year Index. They also come from different issuers: iShares and JPMorgan.
Find the right allocation for U03A.L and BBLL.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer