U10G.L vs. IBTL.L
U10G.L (Amundi US Treasury Bond 10+Y UCITS ETF Dist) and IBTL.L (iShares USD Treasury Bond 20+yr UCITS ETF (Dist)) are both Government Bonds funds - U10G.L tracks the Bloomberg US Long Treasury Index while IBTL.L tracks the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 10 years, U10G.L returned -0.13%/yr vs -1.77%/yr for IBTL.L. Their correlation of 0.94 suggests significant overlap in exposure. U10G.L charges 0.06%/yr vs 0.07%/yr for IBTL.L.
Performance
U10G.L vs. IBTL.L - Performance Comparison
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Returns By Period
In the year-to-date period, U10G.L achieves a 2.87% return, which is significantly lower than IBTL.L's 3.31% return. Over the past 10 years, U10G.L has outperformed IBTL.L with an annualized return of -0.13%, while IBTL.L has yielded a comparatively lower -1.77% annualized return.
U10G.L
- 1D
- -0.26%
- 1M
- 4.63%
- YTD
- 2.87%
- 6M
- 3.88%
- 1Y
- 4.84%
- 3Y*
- -2.80%
- 5Y*
- -4.86%
- 10Y*
- -0.13%
IBTL.L
- 1D
- -0.27%
- 1M
- 4.99%
- YTD
- 3.31%
- 6M
- 4.26%
- 1Y
- 8.60%
- 3Y*
- -2.60%
- 5Y*
- -5.07%
- 10Y*
- -1.77%
U10G.L vs. IBTL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
U10G.L Amundi US Treasury Bond 10+Y UCITS ETF Dist | 2.87% | -5.06% | -4.15% | -3.04% | -20.31% | -3.63% | 12.61% | 11.28% | 4.25% | -1.39% |
IBTL.L iShares USD Treasury Bond 20+yr UCITS ETF (Dist) | 3.31% | -2.80% | -5.51% | -3.61% | -22.17% | -3.32% | 13.06% | 12.05% | 3.88% | -0.83% |
Correlation
The correlation between U10G.L and IBTL.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2015 | 0.94 |
The correlation between U10G.L and IBTL.L has been stable across timeframes, ranging from 0.94 to 0.99 - a consistent structural relationship.
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Return for Risk
U10G.L vs. IBTL.L — Risk / Return Rank
U10G.L
IBTL.L
U10G.L vs. IBTL.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 iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IBTL.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 | IBTL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.15 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 1.04 | -0.58 |
| Martin ratioReturn relative to average drawdown | 0.85 | 2.18 | -1.33 |
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Drawdowns
U10G.L vs. IBTL.L - Drawdown Comparison
The maximum U10G.L drawdown since its inception was -46.23%, smaller than the maximum IBTL.L drawdown of -48.85%. Use the drawdown chart below to compare losses from any high point for U10G.L and IBTL.L.
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Drawdown Indicators
| U10G.L | IBTL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.23% | -48.85% | +2.62% |
Max Drawdown (1Y)Largest decline over 1 year | -10.50% | -8.26% | -2.24% |
Max Drawdown (3Y)Largest decline over 3 years | -15.14% | -17.10% | +1.96% |
Max Drawdown (5Y)Largest decline over 5 years | -35.82% | -39.34% | +3.52% |
Max Drawdown (10Y)Largest decline over 10 years | -46.23% | -48.85% | +2.62% |
Current DrawdownCurrent decline from peak | -42.28% | -43.08% | +0.80% |
Average DrawdownAverage peak-to-trough decline | -21.01% | -22.76% | +1.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.71% | 3.95% | +1.76% |
Volatility
U10G.L vs. IBTL.L - Volatility Comparison
The current volatility for Amundi US Treasury Bond 10+Y UCITS ETF Dist (U10G.L) is 2.69%, while iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IBTL.L) has a volatility of 2.87%. This indicates that U10G.L experiences smaller price fluctuations and is considered to be less risky than IBTL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| U10G.L | IBTL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.69% | 2.87% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 6.47% | 6.75% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.44% | 9.64% | -0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.57% | 15.42% | -0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.85% | 15.86% | -0.01% |
U10G.L vs. IBTL.L - Expense Ratio Comparison
U10G.L has a 0.06% expense ratio, which is lower than IBTL.L's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
U10G.L vs. IBTL.L - Dividend Comparison
U10G.L's dividend yield for the trailing twelve months is around 0.03%, less than IBTL.L's 4.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTL.L iShares USD Treasury Bond 20+yr UCITS ETF (Dist) | 4.57% | 4.31% | 4.58% | 3.79% | 2.96% | 1.72% | 1.86% | 2.54% | 2.75% | 2.68% | 2.45% | 2.09% |
U10G.L Amundi US Treasury Bond 10+Y UCITS ETF Dist | 0.03% | 0.03% | 3.47% | 2.86% | 3.24% | 2.26% | 2.37% | 2.95% | 3.19% | 3.30% | 4.40% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, U10G.L and IBTL.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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.
U10G.L is cheaper with a 0.06% expense ratio, compared with 0.07% for IBTL.L.
U10G.L tracks Bloomberg US Long Treasury Index, while IBTL.L tracks ICE U.S. Treasury 20+ Year Bond Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.06% for U10G.L and 0.07% for IBTL.L.
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