U10G.L vs. DRGG.L

Last updated Jul 18, 2026

U10G.L (Amundi US Treasury Bond 10+Y UCITS ETF Dist) and DRGG.L (L&G China CNY Bond UCITS ETF USD (Dist)) are both Government Bonds funds - U10G.L tracks the Bloomberg US Long Treasury Index while DRGG.L tracks the J.P. Morgan China Custom Liquid ESG Capped Index. Both are passively managed. Over the past 5 years, U10G.L returned -6.55%/yr vs 2.62%/yr for DRGG.L. At a 0.35 correlation, their price movements are largely independent. U10G.L charges 0.06%/yr vs 0.30%/yr for DRGG.L.

Performance

U10G.L vs. DRGG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi US Treasury Bond 10+Y UCITS ETF Dist (U10G.L) and L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, U10G.L achieves a -1.46% return, which is significantly lower than DRGG.L's 3.07% return.

U10G.L

• 1D: 0.88%
• 1M: -1.86%
• 6M: -1.88%
• YTD: -1.46%
• 1Y: 0.29%
• 3Y*: -2.90%
• 5Y*: -6.55%
• 10Y*: -2.16%

DRGG.L

• 1D: 0.25%
• 1M: -1.39%
• 6M: 3.02%
• YTD: 3.07%
• 1Y: 5.96%
• 3Y*: 3.65%
• 5Y*: 2.62%
• 10Y*: —

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

U10G.L vs. DRGG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
U10G.L Amundi US Treasury Bond 10+Y UCITS ETF Dist	-1.46%	-5.06%	-4.15%	-3.04%	-20.31%	-3.63%	-0.73%
DRGG.L L&G China CNY Bond UCITS ETF USD (Dist)	3.07%	-1.73%	4.79%	-5.00%	5.94%	8.52%	-25.93%

Correlation

The correlation between U10G.L and DRGG.L is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020	0.35

The correlation between U10G.L and DRGG.L shifts across timeframes, from 0.27 (3 years) to 0.42 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

U10G.L vs. DRGG.L — Risk / Return Rank

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

U10G.L

U10G.L Risk / Return Rank: 10
U10G.L Sharpe Ratio Rank: 11
U10G.L Sortino Ratio Rank: 10
U10G.L Omega Ratio Rank: 10
U10G.L Calmar Ratio Rank: 11
U10G.L Martin Ratio Rank: 10

DRGG.L

DRGG.L Risk / Return Rank: 39
DRGG.L Sharpe Ratio Rank: 37
DRGG.L Sortino Ratio Rank: 38
DRGG.L Omega Ratio Rank: 35
DRGG.L Calmar Ratio Rank: 44
DRGG.L Martin Ratio Rank: 43

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.

U10G.L vs. DRGG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi US Treasury Bond 10+Y UCITS ETF Dist (U10G.L) and L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.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.

	U10G.L	DRGG.L	Difference
Sharpe ratio: Return per unit of total volatility	0.03	1.01	-0.98
Sortino ratio: Return per unit of downside risk	0.11	1.56	-1.45
Omega ratio: Gain probability vs. loss probability	1.01	1.19	-0.17
Calmar ratio: Return relative to maximum drawdown	0.03	1.74	-1.72
Martin ratio: Return relative to average drawdown	0.05	5.19	-5.15

U10G.L vs. DRGG.L - Sharpe Ratio Comparison

The current U10G.L Sharpe Ratio is 0.03, which is lower than the DRGG.L Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of U10G.L and DRGG.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

U10G.L vs. DRGG.L - Drawdown Comparison

The maximum U10G.L drawdown since its inception was -46.23%, which is greater than DRGG.L's maximum drawdown of -27.90%. Use the drawdown chart below to compare losses from any high point for U10G.L and DRGG.L.

Drawdown Indicators

	U10G.L	DRGG.L	Difference
Max Drawdown Largest peak-to-trough decline	-46.23%	-27.90%	-18.33%
Max Drawdown (1Y) Largest decline over 1 year	-10.50%	-3.40%	-7.10%
Max Drawdown (3Y) Largest decline over 3 years	-15.14%	-9.04%	-6.10%
Max Drawdown (5Y) Largest decline over 5 years	-35.82%	-15.77%	-20.05%
Max Drawdown (10Y) Largest decline over 10 years	-46.23%	—	—
Current Drawdown Current decline from peak	-44.71%	-14.51%	-30.20%
Average Drawdown Average peak-to-trough decline	-21.10%	-18.79%	-2.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.01%	1.14%	+4.87%

Volatility

U10G.L vs. DRGG.L - Volatility Comparison

Amundi US Treasury Bond 10+Y UCITS ETF Dist (U10G.L) has a higher volatility of 2.70% compared to L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.L) at 1.03%. This indicates that U10G.L's price experiences larger fluctuations and is considered to be riskier than DRGG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	U10G.L	DRGG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	1.03%	+1.67%
Volatility (6M) Calculated over the trailing 6-month period	6.48%	4.49%	+1.99%
Volatility (1Y) Calculated over the trailing 1-year period	9.53%	5.85%	+3.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.51%	7.33%	+7.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.85%	12.95%	+1.90%

U10G.L vs. DRGG.L - Expense Ratio Comparison

U10G.L has a 0.06% expense ratio, which is lower than DRGG.L's 0.30% expense ratio.

Dividends

U10G.L vs. DRGG.L - Dividend Comparison

U10G.L's dividend yield for the trailing twelve months is around 0.04%, more than DRGG.L's 0.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DRGG.L L&G China CNY Bond UCITS ETF USD (Dist)	0.01%	2.04%	2.27%	2.48%	2.61%	1.40%	0.00%	0.00%	0.00%	0.00%	0.00%
U10G.L Amundi US Treasury Bond 10+Y UCITS ETF Dist	0.04%	0.03%	3.47%	2.86%	3.24%	2.26%	2.37%	2.95%	3.19%	3.30%	4.40%

Frequently Asked Questions

Can I hold both U10G.L and DRGG.L in my portfolio?

U10G.L and DRGG.L have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, U10G.L or DRGG.L?

On fees, U10G.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, U10G.L or DRGG.L?

U10G.L is cheaper with a 0.06% expense ratio, compared with 0.30% for DRGG.L.

What is the main difference between U10G.L and DRGG.L?

U10G.L tracks Bloomberg US Long Treasury Index, while DRGG.L tracks J.P. Morgan China Custom Liquid ESG Capped Index. They also come from different issuers: Amundi and L&G. Their fees differ too: 0.06% for U10G.L and 0.30% for DRGG.L.