USTY.L vs. BTC-USD
USTY.L (SPDR Bloomberg US Treasury Bond UCITS ETF) is Government Bonds fund tracking the Bloomberg US Treasury Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, USTY.L returned 2.28%/yr vs 60.90%/yr for BTC-USD. At a 0.03 correlation, their price movements are largely independent.
Performance
USTY.L vs. BTC-USD - Performance Comparison
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Different Trading Currencies
USTY.L is traded in GBP, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, USTY.L achieves a 0.66% return, which is significantly higher than BTC-USD's -27.31% return. Over the past 10 years, USTY.L has underperformed BTC-USD with an annualized return of 2.28%, while BTC-USD has yielded a comparatively higher 60.90% annualized return.
USTY.L
- 1D
- 0.21%
- 1M
- 1.14%
- YTD
- 0.66%
- 6M
- 0.16%
- 1Y
- 6.01%
- 3Y*
- 1.22%
- 5Y*
- 1.37%
- 10Y*
- 2.28%
BTC-USD
- 1D
- -1.08%
- 1M
- -20.99%
- YTD
- -27.31%
- 6M
- -31.69%
- 1Y
- -38.94%
- 3Y*
- 31.62%
- 5Y*
- 12.64%
- 10Y*
- 60.90%
USTY.L vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USTY.L SPDR Bloomberg US Treasury Bond UCITS ETF | 0.66% | 0.10% | 3.36% | -1.37% | -1.66% | -0.86% | 4.57% | 4.20% | 7.22% | -6.43% |
BTC-USD Bitcoin | -27.31% | -12.95% | 125.81% | 140.73% | -59.81% | 60.91% | 292.68% | 86.71% | -73.15% | 1,284.82% |
Correlation
The correlation between USTY.L and BTC-USD is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2015 | 0.03 |
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Return for Risk
USTY.L vs. BTC-USD — Risk / Return Rank
USTY.L
BTC-USD
USTY.L vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg US Treasury Bond UCITS ETF (USTY.L) and Bitcoin (BTC-USD). 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.
| USTY.L | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.87 | ||
| Sortino ratioReturn per unit of downside risk | +2.68 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.86 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | -0.78 | +1.93 |
| Martin ratioReturn relative to average drawdown | 3.15 | -1.39 | +4.54 |
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
| USTY.L | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | -0.93 | +1.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.23 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | 0.90 | -0.68 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 1.14 | -0.83 |
Drawdowns
USTY.L vs. BTC-USD - Drawdown Comparison
The maximum USTY.L drawdown since its inception was -23.02%, smaller than the maximum BTC-USD drawdown of -84.19%. Use the drawdown chart below to compare losses from any high point for USTY.L and BTC-USD.
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Drawdown Indicators
| USTY.L | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.02% | -84.19% | +61.17% |
Max Drawdown (1Y)Largest decline over 1 year | -5.20% | -49.84% | +44.64% |
Max Drawdown (3Y)Largest decline over 3 years | -7.75% | -49.84% | +42.09% |
Max Drawdown (5Y)Largest decline over 5 years | -16.04% | -73.24% | +57.20% |
Max Drawdown (10Y)Largest decline over 10 years | -23.02% | -82.15% | +59.13% |
Current DrawdownCurrent decline from peak | -15.58% | -48.98% | +33.40% |
Average DrawdownAverage peak-to-trough decline | -12.04% | -40.26% | +28.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 33.59% | -31.69% |
Volatility
USTY.L vs. BTC-USD - Volatility Comparison
The current volatility for SPDR Bloomberg US Treasury Bond UCITS ETF (USTY.L) is 2.21%, while Bitcoin (BTC-USD) has a volatility of 10.38%. This indicates that USTY.L experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USTY.L | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.21% | 10.38% | -8.17% |
Volatility (6M)Calculated over the trailing 6-month period | 4.79% | 33.67% | -28.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.35% | 34.71% | -28.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.77% | 44.81% | -36.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.02% | 56.04% | -46.02% |
Frequently Asked Questions
USTY.L and BTC-USD have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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