U03A.L vs. VDST.L
U03A.L (iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc)) and VDST.L (Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating) are both exchange-traded funds - U03A.L is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Bill Index, while VDST.L is a Government Bonds fund tracking the Bloomberg Short Treasury Index. Both are passively managed. Over the past year, U03A.L returned 4.02% vs 3.95% for VDST.L. At a 0.14 correlation, their price movements are largely independent. U03A.L charges 0.07%/yr vs 0.05%/yr for VDST.L.
Performance
U03A.L vs. VDST.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with U03A.L having a 1.51% return and VDST.L slightly lower at 1.46%.
U03A.L
- 1D
- 0.03%
- 1M
- 0.29%
- YTD
- 1.51%
- 6M
- 1.81%
- 1Y
- 4.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VDST.L
- 1D
- 0.04%
- 1M
- 0.31%
- YTD
- 1.46%
- 6M
- 1.75%
- 1Y
- 3.95%
- 3Y*
- 4.71%
- 5Y*
- 3.36%
- 10Y*
- —
U03A.L vs. VDST.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
U03A.L iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc) | 1.51% | 4.22% | 1.33% |
VDST.L Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating | 1.46% | 4.26% | 1.14% |
Correlation
The correlation between U03A.L and VDST.L is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2024 | 0.14 |
The correlation between U03A.L and VDST.L shifts across timeframes, from 0.14 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
U03A.L vs. VDST.L — Risk / Return Rank
U03A.L
VDST.L
U03A.L vs. VDST.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 Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating (VDST.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 | VDST.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -1.77 | ||
| Omega ratioGain probability vs. loss probability | 5.03 | 4.88 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 41.98 | 36.06 | +5.92 |
| Martin ratioReturn relative to average drawdown | 274.18 | 244.57 | +29.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| U03A.L | VDST.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 8.85 | 9.31 | -0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 8.05 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 4.99 | 7.83 | -2.84 |
Drawdowns
U03A.L vs. VDST.L - Drawdown Comparison
The maximum U03A.L drawdown since its inception was -0.83%, which is greater than VDST.L's maximum drawdown of -0.36%. Use the drawdown chart below to compare losses from any high point for U03A.L and VDST.L.
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Drawdown Indicators
| U03A.L | VDST.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.83% | -0.36% | -0.47% |
Max Drawdown (1Y)Largest decline over 1 year | -0.10% | -0.11% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.15% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.36% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.01% | -0.03% | +0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.02% | -0.01% |
Volatility
U03A.L vs. VDST.L - Volatility Comparison
iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc) (U03A.L) has a higher volatility of 0.13% compared to Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating (VDST.L) at 0.12%. This indicates that U03A.L's price experiences larger fluctuations and is considered to be riskier than VDST.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| U03A.L | VDST.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 0.12% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 0.26% | 0.33% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.45% | 0.42% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.88% | 0.47% | +0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.88% | 0.46% | +0.42% |
U03A.L vs. VDST.L - Expense Ratio Comparison
U03A.L has a 0.07% expense ratio, which is higher than VDST.L's 0.05% 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
U03A.L vs. VDST.L - Dividend Comparison
Neither U03A.L nor VDST.L has paid dividends to shareholders.
Frequently Asked Questions
U03A.L and VDST.L have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VDST.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VDST.L is cheaper with a 0.05% expense ratio, compared with 0.07% for U03A.L.
U03A.L is categorized as Ultrashort Bond, while VDST.L is Government Bonds. U03A.L tracks ICE 0-3 Month US Treasury Bill Index, while VDST.L tracks Bloomberg Short Treasury Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.07% for U03A.L and 0.05% for VDST.L.
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