UESD.L vs. SPTU
UESD.L (iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc) and SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) are both Ultrashort Bond funds. At a 0.07 correlation, their price movements are largely independent. UESD.L charges 0.09%/yr vs 0.05%/yr for SPTU.
Performance
UESD.L vs. SPTU - Performance Comparison
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Different Trading Currencies
UESD.L is traded in GBP, while SPTU is traded in USD. To make them comparable, the SPTU values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, UESD.L achieves a 1.41% return, which is significantly lower than SPTU's 1.86% return.
UESD.L
- 1D
- 0.04%
- 1M
- 0.43%
- YTD
- 1.41%
- 6M
- 1.91%
- 1Y
- 4.39%
- 3Y*
- 5.04%
- 5Y*
- 3.56%
- 10Y*
- —
SPTU
- 1D
- 0.27%
- 1M
- 1.12%
- YTD
- 1.86%
- 6M
- 1.27%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UESD.L vs. SPTU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
UESD.L iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc | 1.41% | 1.36% |
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF | 1.86% | 0.38% |
Correlation
The correlation between UESD.L and SPTU is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025 | 0.07 |
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Return for Risk
UESD.L vs. SPTU — Risk / Return Rank
UESD.L
SPTU
UESD.L vs. SPTU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc (UESD.L) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). 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.
| UESD.L | SPTU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 4.02 | — | — |
Sortino ratioReturn per unit of downside risk | 6.47 | — | — |
Omega ratioGain probability vs. loss probability | 1.90 | — | — |
Calmar ratioReturn relative to maximum drawdown | 16.99 | — | — |
Martin ratioReturn relative to average drawdown | 73.38 | — | — |
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
| UESD.L | SPTU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.02 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 3.20 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.89 | 0.51 | +2.37 |
Drawdowns
UESD.L vs. SPTU - Drawdown Comparison
The maximum UESD.L drawdown since its inception was -0.48%, smaller than the maximum SPTU drawdown of -5.15%. Use the drawdown chart below to compare losses from any high point for UESD.L and SPTU.
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Drawdown Indicators
| UESD.L | SPTU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.48% | -5.15% | +4.67% |
Max Drawdown (1Y)Largest decline over 1 year | -0.26% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -0.26% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -0.41% | — | — |
Current DrawdownCurrent decline from peak | -0.10% | -1.15% | +1.05% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -1.79% | +1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | — | — |
Volatility
UESD.L vs. SPTU - Volatility Comparison
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Volatility by Period
| UESD.L | SPTU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.87% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.09% | 6.80% | -5.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.11% | 6.80% | -5.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.06% | 6.80% | -5.74% |
UESD.L vs. SPTU - Expense Ratio Comparison
UESD.L has a 0.09% expense ratio, which is higher than SPTU's 0.05% 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
UESD.L vs. SPTU - Dividend Comparison
UESD.L's dividend yield for the trailing twelve months is around 5.64%, more than SPTU's 2.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF | 2.36% | 0.89% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UESD.L iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc | 5.64% | 4.63% | 5.37% | 4.49% | 1.21% | 0.24% | 0.47% |
Frequently Asked Questions
UESD.L and SPTU have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPTU is cheaper with a 0.05% expense ratio, compared with 0.09% for UESD.L.
They also come from different issuers: iShares and State Street. Their fees differ too: 0.09% for UESD.L and 0.05% for SPTU.
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