UB74.L vs. T3GB.L
UB74.L (UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis) and T3GB.L (Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - UB74.L is a Government Bonds fund tracking the Bloomberg US 1-3 Year Treasury Bond Index, while T3GB.L is a Short-Term Bond fund tracking the Bloomberg US Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, UB74.L returned 2.35%/yr vs 1.46%/yr for T3GB.L. At a correlation of -0.05, they often move in opposite directions. UB74.L charges 0.05%/yr vs 0.10%/yr for T3GB.L.
Performance
UB74.L vs. T3GB.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with UB74.L having a 0.81% return and T3GB.L slightly lower at 0.78%.
UB74.L
- 1D
- 0.28%
- 1M
- -0.21%
- 6M
- 0.35%
- YTD
- 0.81%
- 1Y
- 2.87%
- 3Y*
- 3.20%
- 5Y*
- 2.35%
- 10Y*
- 1.43%
T3GB.L
- 1D
- 0.05%
- 1M
- 0.20%
- 6M
- 0.85%
- YTD
- 0.78%
- 1Y
- 3.09%
- 3Y*
- 4.01%
- 5Y*
- 1.46%
- 10Y*
- —
UB74.L vs. T3GB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
UB74.L UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis | 0.81% | -2.06% | 5.76% | -1.66% | 7.62% | 0.57% | -0.46% | -2.90% |
T3GB.L Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged (Dist) | 0.78% | 4.94% | 3.79% | 3.35% | -4.53% | -0.90% | 2.61% | 0.19% |
Correlation
The correlation between UB74.L and T3GB.L is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2019 | -0.05 |
The correlation between UB74.L and T3GB.L shifts across timeframes, from -0.19 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UB74.L vs. T3GB.L — Risk / Return Rank
UB74.L
T3GB.L
UB74.L vs. T3GB.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 Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged (Dist) (T3GB.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.
| UB74.L | T3GB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.11 | ||
| Sortino ratioReturn per unit of downside risk | -3.41 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.54 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | 4.30 | -3.68 |
| Martin ratioReturn relative to average drawdown | 1.55 | 16.06 | -14.51 |
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Drawdowns
UB74.L vs. T3GB.L - Drawdown Comparison
The maximum UB74.L drawdown since its inception was -41.53%, which is greater than T3GB.L's maximum drawdown of -6.48%. Use the drawdown chart below to compare losses from any high point for UB74.L and T3GB.L.
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Drawdown Indicators
| UB74.L | T3GB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.53% | -6.48% | -35.05% |
Max Drawdown (1Y)Largest decline over 1 year | -4.61% | -0.72% | -3.89% |
Max Drawdown (3Y)Largest decline over 3 years | -8.93% | -0.91% | -8.02% |
Max Drawdown (5Y)Largest decline over 5 years | -16.34% | -6.38% | -9.96% |
Max Drawdown (10Y)Largest decline over 10 years | -18.81% | — | — |
Current DrawdownCurrent decline from peak | -10.45% | 0.00% | -10.45% |
Average DrawdownAverage peak-to-trough decline | -21.33% | -1.53% | -19.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 0.19% | +1.66% |
Volatility
UB74.L vs. T3GB.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 1.22% compared to Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged (Dist) (T3GB.L) at 0.32%. This indicates that UB74.L's price experiences larger fluctuations and is considered to be riskier than T3GB.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 | T3GB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 0.32% | +0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 4.50% | 0.87% | +3.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.07% | 1.19% | +4.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.06% | 2.03% | +6.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.59% | 1.81% | +6.78% |
UB74.L vs. T3GB.L - Expense Ratio Comparison
UB74.L has a 0.05% expense ratio, which is lower than T3GB.L's 0.10% 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. T3GB.L - Dividend Comparison
UB74.L's dividend yield for the trailing twelve months is around 3.69%, less than T3GB.L's 3.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
T3GB.L Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged (Dist) | 3.84% | 3.95% | 4.36% | 4.05% | 1.98% | 0.28% | 1.15% | 0.81% | 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 | 3.69% | 4.94% | 3.67% | 2.22% | 0.41% | 0.36% | 1.68% | 2.28% | 1.10% | 0.65% | 0.62% | 0.41% |
Frequently Asked Questions
UB74.L and T3GB.L have a correlation of -0.19, 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 0.10% for T3GB.L.
UB74.L is categorized as Government Bonds, while T3GB.L is Short-Term Bond. UB74.L tracks Bloomberg US 1-3 Year Treasury Bond Index, while T3GB.L tracks Bloomberg US Treasury 1-3 Year Index. They also come from different issuers: UBS and Invesco. Their fees differ too: 0.05% for UB74.L and 0.10% for T3GB.L.
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