UB74.L vs. CBE3.L
UB74.L (UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis) and CBE3.L (iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc)) are both exchange-traded funds - UB74.L is a Government Bonds fund tracking the Bloomberg US 1-3 Year Treasury Bond Index, while CBE3.L is a Short-Term Bond fund tracking the Bloomberg Euro Government Bond 1-3 Year Index. Both are passively managed. Over the past 10 years, UB74.L returned 2.45%/yr vs 1.36%/yr for CBE3.L. At a 0.43 correlation, their price movements are largely independent. UB74.L charges 0.05%/yr vs 0.20%/yr for CBE3.L.
Performance
UB74.L vs. CBE3.L - Performance Comparison
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Different Trading Currencies
UB74.L is traded in GBp, while CBE3.L is traded in EUR. To make them comparable, the CBE3.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, UB74.L achieves a 0.54% return, which is significantly higher than CBE3.L's -0.74% return. Over the past 10 years, UB74.L has outperformed CBE3.L with an annualized return of 2.45%, while CBE3.L has yielded a comparatively lower 1.36% annualized return.
UB74.L
- 1D
- 0.22%
- 1M
- 1.37%
- YTD
- 0.54%
- 6M
- 0.05%
- 1Y
- 4.04%
- 3Y*
- 1.53%
- 5Y*
- 2.83%
- 10Y*
- 2.45%
CBE3.L
- 1D
- -0.09%
- 1M
- 0.41%
- YTD
- -0.74%
- 6M
- -0.90%
- 1Y
- 3.65%
- 3Y*
- 2.82%
- 5Y*
- 0.92%
- 10Y*
- 1.36%
UB74.L vs. CBE3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UB74.L UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis | 0.54% | -2.06% | 5.76% | -1.65% | 7.62% | 0.57% | -0.46% | 0.26% | 7.13% | -8.67% |
CBE3.L iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) | -0.74% | 7.75% | -1.57% | 1.39% | 0.69% | -6.71% | 5.49% | -5.51% | 0.66% | 4.33% |
Correlation
The correlation between UB74.L and CBE3.L is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since May 14, 2013 | 0.43 |
The correlation between UB74.L and CBE3.L shifts across timeframes, from 0.28 (1 year) to 0.44 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
UB74.L vs. CBE3.L — Risk / Return Rank
UB74.L
CBE3.L
UB74.L vs. CBE3.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis (UB74.L) and iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.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.
| UB74.L | CBE3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.16 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 1.43 | -0.56 |
| Martin ratioReturn relative to average drawdown | 2.22 | 3.10 | -0.88 |
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
| UB74.L | CBE3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.66 | 0.89 | -0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | 0.17 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.19 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.09 | +0.18 |
Drawdowns
UB74.L vs. CBE3.L - Drawdown Comparison
The maximum UB74.L drawdown since its inception was -18.81%, roughly equal to the maximum CBE3.L drawdown of -18.42%. Use the drawdown chart below to compare losses from any high point for UB74.L and CBE3.L.
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Drawdown Indicators
| UB74.L | CBE3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.81% | -18.42% | -0.39% |
Max Drawdown (1Y)Largest decline over 1 year | -4.61% | -2.54% | -2.07% |
Max Drawdown (3Y)Largest decline over 3 years | -8.93% | -3.11% | -5.82% |
Max Drawdown (5Y)Largest decline over 5 years | -16.33% | -5.75% | -10.58% |
Max Drawdown (10Y)Largest decline over 10 years | -18.81% | -12.98% | -5.83% |
Current DrawdownCurrent decline from peak | -7.93% | -3.89% | -4.04% |
Average DrawdownAverage peak-to-trough decline | -8.27% | -7.26% | -1.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.82% | 1.17% | +0.65% |
Volatility
UB74.L vs. CBE3.L - Volatility Comparison
UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis (UB74.L) has a higher volatility of 1.73% compared to iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.L) at 1.07%. This indicates that UB74.L's price experiences larger fluctuations and is considered to be riskier than CBE3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UB74.L | CBE3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.73% | 1.07% | +0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 4.49% | 2.80% | +1.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.14% | 4.11% | +2.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.08% | 5.29% | +2.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.27% | 7.10% | +2.17% |
UB74.L vs. CBE3.L - Expense Ratio Comparison
UB74.L has a 0.05% expense ratio, which is lower than CBE3.L's 0.20% 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
UB74.L vs. CBE3.L - Dividend Comparison
UB74.L's dividend yield for the trailing twelve months is around 3.70%, while CBE3.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBE3.L iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UB74.L UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis | 3.70% | 4.94% | 3.67% | 2.23% | 0.41% | 0.36% | 1.68% | 2.28% | 1.10% | 0.65% | 0.62% | 0.41% |
Frequently Asked Questions
UB74.L and CBE3.L have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UB74.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UB74.L is cheaper with a 0.05% expense ratio, compared with 0.20% for CBE3.L.
UB74.L is categorized as Government Bonds, while CBE3.L is Short-Term Bond. UB74.L tracks Bloomberg US 1-3 Year Treasury Bond Index, while CBE3.L tracks Bloomberg Euro Government Bond 1-3 Year Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.05% for UB74.L and 0.20% for CBE3.L.
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