URA vs. UTWO

Last updated Jun 14, 2026

URA (Global X Uranium ETF) and UTWO (US Treasury 2 Year Note ETF) are both exchange-traded funds - URA is a Uranium fund tracking the Solactive Global Uranium & Nuclear Components Total Return Index, while UTWO is a Government Bonds fund tracking the ICE BofA Current 2 Year US Treasury Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, URA returned 32.17%/yr vs 3.89%/yr for UTWO. At a 0.05 correlation, their price movements are largely independent. URA charges 0.69%/yr vs 0.15%/yr for UTWO.

Performance

URA vs. UTWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Uranium ETF (URA) and US Treasury 2 Year Note ETF (UTWO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, URA achieves a 6.53% return, which is significantly higher than UTWO's 0.43% return.

URA

• 1D: 1.54%
• 1M: -13.30%
• YTD: 6.53%
• 6M: 3.57%
• 1Y: 32.00%
• 3Y*: 32.17%
• 5Y*: 18.77%
• 10Y*: 15.90%

UTWO

• 1D: -0.04%
• 1M: 0.18%
• YTD: 0.43%
• 6M: 0.68%
• 1Y: 3.13%
• 3Y*: 3.89%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

URA vs. UTWO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
URA Global X Uranium ETF	6.53%	67.18%	-0.58%	46.25%	-6.89%
UTWO US Treasury 2 Year Note ETF	0.43%	4.79%	3.71%	3.45%	-0.84%

Correlation

The correlation between URA and UTWO is 0.04, 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 (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022	0.05

Return for Risk

URA vs. UTWO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

URA

URA Risk / Return Rank: 23
URA Sharpe Ratio Rank: 21
URA Sortino Ratio Rank: 24
URA Omega Ratio Rank: 23
URA Calmar Ratio Rank: 25
URA Martin Ratio Rank: 21

UTWO

UTWO Risk / Return Rank: 82
UTWO Sharpe Ratio Rank: 82
UTWO Sortino Ratio Rank: 91
UTWO Omega Ratio Rank: 87
UTWO Calmar Ratio Rank: 76
UTWO Martin Ratio Rank: 74

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

URA vs. UTWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Uranium ETF (URA) and US Treasury 2 Year Note ETF (UTWO). 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.

	URA	UTWO	Difference
Sharpe ratio: Return per unit of total volatility	0.64	2.31	-1.67
Sortino ratio: Return per unit of downside risk	1.21	3.80	-2.59
Omega ratio: Gain probability vs. loss probability	1.14	1.47	-0.33
Calmar ratio: Return relative to maximum drawdown	1.04	3.43	-2.39
Martin ratio: Return relative to average drawdown	2.30	12.29	-9.98

URA vs. UTWO - Sharpe Ratio Comparison

The current URA Sharpe Ratio is 0.64, which is lower than the UTWO Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of URA and UTWO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

URA vs. UTWO - Drawdown Comparison

The maximum URA drawdown since its inception was -93.54%, which is greater than UTWO's maximum drawdown of -2.04%. Use the drawdown chart below to compare losses from any high point for URA and UTWO.

Drawdown Indicators

	URA	UTWO	Difference
Max Drawdown Largest peak-to-trough decline	-93.54%	-2.04%	-91.50%
Max Drawdown (1Y) Largest decline over 1 year	-31.48%	-0.90%	-30.58%
Max Drawdown (3Y) Largest decline over 3 years	-37.81%	-1.08%	-36.73%
Max Drawdown (5Y) Largest decline over 5 years	-37.90%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-61.45%	—	—
Current Drawdown Current decline from peak	-48.34%	-0.28%	-48.06%
Average Drawdown Average peak-to-trough decline	-74.94%	-0.48%	-74.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.12%	0.25%	+13.87%

Volatility

URA vs. UTWO - Volatility Comparison

Global X Uranium ETF (URA) has a higher volatility of 17.69% compared to US Treasury 2 Year Note ETF (UTWO) at 0.40%. This indicates that URA's price experiences larger fluctuations and is considered to be riskier than UTWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URA	UTWO	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.69%	0.40%	+17.29%
Volatility (6M) Calculated over the trailing 6-month period	39.95%	0.94%	+39.01%
Volatility (1Y) Calculated over the trailing 1-year period	51.24%	1.33%	+49.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.96%	2.07%	+41.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.91%	2.07%	+35.84%

URA vs. UTWO - Expense Ratio Comparison

URA has a 0.69% expense ratio, which is higher than UTWO's 0.15% expense ratio.

Dividends

URA vs. UTWO - Dividend Comparison

URA's dividend yield for the trailing twelve months is around 4.58%, more than UTWO's 3.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
URA Global X Uranium ETF	4.58%	4.88%	2.86%	6.07%	0.76%	5.84%	1.69%	1.66%	0.44%	2.03%	7.28%	1.96%
UTWO US Treasury 2 Year Note ETF	3.49%	3.63%	4.22%	4.39%	1.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both URA and UTWO in my portfolio?

URA and UTWO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, URA or UTWO?

URA has higher volatility (17.69%) compared to UTWO (0.40%). In terms of maximum drawdown, URA dropped -93.54% vs UTWO's -2.04%.

Which ETF is better, URA or UTWO?

On 3-year performance, URA leads with 32.17% vs 3.89% for UTWO. On fees, UTWO is cheaper at 0.15% per year. On volatility, UTWO has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, URA or UTWO?

Over the 3-year period, URA has performed better with a 32.17% return vs 3.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, URA or UTWO?

UTWO is cheaper with a 0.15% expense ratio, compared with 0.69% for URA.

Which ETF pays a higher dividend yield, URA or UTWO?

URA has the higher dividend yield at 4.58%, compared with 3.49% for UTWO.

What is the main difference between URA and UTWO?

URA is categorized as Uranium, while UTWO is Government Bonds. URA tracks Solactive Global Uranium & Nuclear Components Total Return Index, while UTWO tracks ICE BofA Current 2 Year US Treasury Index - Benchmark TR Gross. They also come from different issuers: Global X and US Benchmark Series. Their fees differ too: 0.69% for URA and 0.15% for UTWO.

Which has better risk-adjusted returns?

UTWO currently has the higher Sharpe Ratio (2.31 vs 0.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.