UB74.L vs. TSY3.L
UB74.L (UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis) and TSY3.L (SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF) are both Government Bonds funds tracking the Bloomberg US 1-3 Year Treasury Bond Index, from UBS and State Street respectively. Both are passively managed. Over the past 10 years, UB74.L returned 1.43%/yr vs 1.54%/yr for TSY3.L. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.05% expense ratio.
Performance
UB74.L vs. TSY3.L - Performance Comparison
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Different Trading Currencies
UB74.L is traded in GBp, while TSY3.L is traded in GBP. To make them comparable, the TSY3.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 0.81% return, which is significantly lower than TSY3.L's 0.90% return. Over the past 10 years, UB74.L has underperformed TSY3.L with an annualized return of 1.43%, while TSY3.L has yielded a comparatively higher 1.54% annualized return.
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%
TSY3.L
- 1D
- 0.29%
- 1M
- -0.24%
- 6M
- 0.49%
- YTD
- 0.90%
- 1Y
- 2.97%
- 3Y*
- 3.27%
- 5Y*
- 2.37%
- 10Y*
- 1.54%
UB74.L vs. TSY3.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 | 0.81% | -2.06% | 5.76% | -1.66% | 7.62% | 0.57% | -0.46% | 0.26% | 7.13% | -8.67% |
TSY3.L SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF | 0.90% | -2.01% | 5.77% | -1.64% | 7.59% | 0.49% | -0.43% | 0.21% | 7.82% | -8.39% |
Correlation
The correlation between UB74.L and TSY3.L is 1.00 - 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 | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Aug 27, 2013 | 0.99 |
The correlation between UB74.L and TSY3.L has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
UB74.L vs. TSY3.L — Risk / Return Rank
UB74.L
TSY3.L
UB74.L vs. TSY3.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 SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF (TSY3.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 | TSY3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.09 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | 0.66 | -0.04 |
| Martin ratioReturn relative to average drawdown | 1.55 | 1.66 | -0.11 |
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Drawdowns
UB74.L vs. TSY3.L - Drawdown Comparison
The maximum UB74.L drawdown since its inception was -41.53%, roughly equal to the maximum TSY3.L drawdown of -41.41%. Use the drawdown chart below to compare losses from any high point for UB74.L and TSY3.L.
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Drawdown Indicators
| UB74.L | TSY3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.53% | -41.41% | -0.12% |
Max Drawdown (1Y)Largest decline over 1 year | -4.61% | -4.48% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -8.93% | -8.93% | 0.00% |
Max Drawdown (5Y)Largest decline over 5 years | -16.34% | -16.38% | +0.04% |
Max Drawdown (10Y)Largest decline over 10 years | -18.81% | -18.75% | -0.06% |
Current DrawdownCurrent decline from peak | -10.45% | -8.67% | -1.78% |
Average DrawdownAverage peak-to-trough decline | -21.33% | -19.38% | -1.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 1.79% | +0.06% |
Volatility
UB74.L vs. TSY3.L - Volatility Comparison
UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis (UB74.L) and SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF (TSY3.L) have volatilities of 1.22% and 1.23%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UB74.L | TSY3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.23% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 4.50% | 4.51% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.07% | 6.08% | -0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.06% | 8.05% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.59% | 8.53% | +0.06% |
UB74.L vs. TSY3.L - Expense Ratio Comparison
Both UB74.L and TSY3.L have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
UB74.L vs. TSY3.L - Dividend Comparison
UB74.L's dividend yield for the trailing twelve months is around 3.69%, less than TSY3.L's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TSY3.L SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF | 3.91% | 4.25% | 4.06% | 3.02% | 0.61% | 0.56% | 1.84% | 2.14% | 1.78% | 1.34% | 0.87% | 0.80% |
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
With a correlation of 1.00, UB74.L and TSY3.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.
Both ETFs have the same 0.05% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
UB74.L and TSY3.L have the same expense ratio: 0.05% per year.
Both ETFs track Bloomberg US 1-3 Year Treasury Bond Index. They also come from different issuers: UBS and State Street.
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