UBTS.L vs. IBTL.L
UBTS.L (UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis) and IBTL.L (iShares USD Treasury Bond 20+yr UCITS ETF (Dist)) are both exchange-traded funds - UBTS.L is a Inflation-Protected Bonds fund tracking the Bloomberg Gbl Infl Linked US TIPS TR USD, while IBTL.L is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 5 years, UBTS.L returned 3.32%/yr vs -5.05%/yr for IBTL.L. A 0.60 correlation means they provide meaningful diversification when combined. UBTS.L charges 0.15%/yr vs 0.07%/yr for IBTL.L.
Performance
UBTS.L vs. IBTL.L - Performance Comparison
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Returns By Period
In the year-to-date period, UBTS.L achieves a 1.80% return, which is significantly higher than IBTL.L's -0.57% return.
UBTS.L
- 1D
- -0.10%
- 1M
- 0.69%
- YTD
- 1.80%
- 6M
- 0.83%
- 1Y
- 5.77%
- 3Y*
- 2.02%
- 5Y*
- 3.32%
- 10Y*
- —
IBTL.L
- 1D
- 0.45%
- 1M
- 1.68%
- YTD
- -0.57%
- 6M
- -1.69%
- 1Y
- 5.17%
- 3Y*
- -4.08%
- 5Y*
- -5.05%
- 10Y*
- -0.77%
UBTS.L vs. IBTL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UBTS.L UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis | 1.80% | -0.11% | 4.95% | -1.59% | 3.39% | 6.97% | 4.62% | 3.52% | 5.25% | -7.29% |
IBTL.L iShares USD Treasury Bond 20+yr UCITS ETF (Dist) | -0.57% | -2.80% | -5.50% | -3.62% | -22.17% | -3.32% | 13.07% | 12.05% | 3.06% | -0.04% |
Correlation
The correlation between UBTS.L and IBTL.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 2016 | 0.60 |
The correlation between UBTS.L and IBTL.L shifts across timeframes, from 0.49 (1 year) to 0.60 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UBTS.L vs. IBTL.L — Risk / Return Rank
UBTS.L
IBTL.L
UBTS.L vs. IBTL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis (UBTS.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.
| UBTS.L | IBTL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.09 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 0.62 | +0.53 |
| Martin ratioReturn relative to average drawdown | 3.08 | 1.35 | +1.72 |
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
| UBTS.L | IBTL.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.54 | +0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | -0.33 | +0.73 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.05 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | -0.03 | +0.29 |
Drawdowns
UBTS.L vs. IBTL.L - Drawdown Comparison
The maximum UBTS.L drawdown since its inception was -15.99%, smaller than the maximum IBTL.L drawdown of -48.85%. Use the drawdown chart below to compare losses from any high point for UBTS.L and IBTL.L.
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Drawdown Indicators
| UBTS.L | IBTL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.99% | -48.85% | +32.86% |
Max Drawdown (1Y)Largest decline over 1 year | -4.97% | -8.25% | +3.28% |
Max Drawdown (3Y)Largest decline over 3 years | -7.52% | -17.70% | +10.18% |
Max Drawdown (5Y)Largest decline over 5 years | -15.99% | -39.35% | +23.36% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.85% | — |
Current DrawdownCurrent decline from peak | -5.74% | -45.21% | +39.47% |
Average DrawdownAverage peak-to-trough decline | -6.89% | -23.75% | +16.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.87% | 3.82% | -1.95% |
Volatility
UBTS.L vs. IBTL.L - Volatility Comparison
The current volatility for UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis (UBTS.L) is 1.78%, while iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IBTL.L) has a volatility of 2.45%. This indicates that UBTS.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
| UBTS.L | IBTL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 2.45% | -0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 6.48% | -1.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.29% | 9.53% | -3.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.15% | 15.49% | -7.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.68% | 16.54% | -7.86% |
UBTS.L vs. IBTL.L - Expense Ratio Comparison
UBTS.L has a 0.15% expense ratio, which is higher than IBTL.L's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
UBTS.L vs. IBTL.L - Dividend Comparison
UBTS.L's dividend yield for the trailing twelve months is around 4.01%, less than IBTL.L's 4.34% 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) | 4.34% | 4.32% | 4.59% | 3.78% | 2.96% | 1.72% | 1.86% | 2.54% | 2.75% | 2.66% | 2.44% | 2.07% |
UBTS.L UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis | 4.01% | 3.26% | 4.42% | 4.57% | 6.66% | 2.83% | 0.84% | 2.30% | 2.38% | 1.27% | 0.00% | 0.00% |
Frequently Asked Questions
UBTS.L and IBTL.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTL.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTL.L is cheaper with a 0.07% expense ratio, compared with 0.15% for UBTS.L.
UBTS.L is categorized as Inflation-Protected Bonds, while IBTL.L is Government Bonds. UBTS.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while IBTL.L tracks ICE U.S. Treasury 20+ Year Bond Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.15% for UBTS.L and 0.07% for IBTL.L.
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