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 0.52%/yr vs 57.22%/yr for BTC-USD. At a 0.02 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 -0.10% return, which is significantly higher than BTC-USD's -26.90% return. Over the past 10 years, USTY.L has underperformed BTC-USD with an annualized return of 0.52%, while BTC-USD has yielded a comparatively higher 57.22% annualized return.
USTY.L
- 1D
- 0.47%
- 1M
- -0.69%
- 6M
- -0.39%
- YTD
- -0.10%
- 1Y
- 3.38%
- 3Y*
- 1.94%
- 5Y*
- -0.20%
- 10Y*
- 0.52%
BTC-USD
- 1D
- 0.32%
- 1M
- -2.11%
- 6M
- -33.51%
- YTD
- -26.90%
- 1Y
- -46.60%
- 3Y*
- 27.50%
- 5Y*
- 15.79%
- 10Y*
- 57.22%
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 | -0.10% | -0.90% | 2.50% | -1.93% | -1.98% | -1.22% | 3.99% | 3.61% | 6.57% | -6.86% |
BTC-USD Bitcoin | -26.90% | -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 -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
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 Nov 1, 2012 | 0.02 |
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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.
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.
| USTY.L | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.65 | ||
| Sortino ratioReturn per unit of downside risk | +2.51 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.82 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.65 | -0.89 | +1.54 |
| Martin ratioReturn relative to average drawdown | 1.49 | -1.42 | +2.91 |
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Drawdowns
USTY.L vs. BTC-USD - Drawdown Comparison
The maximum USTY.L drawdown since its inception was -36.73%, 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 | -36.73% | -84.19% | +47.46% |
Max Drawdown (1Y)Largest decline over 1 year | -5.20% | -52.30% | +47.10% |
Max Drawdown (3Y)Largest decline over 3 years | -8.14% | -52.30% | +44.16% |
Max Drawdown (5Y)Largest decline over 5 years | -16.24% | -73.24% | +57.00% |
Max Drawdown (10Y)Largest decline over 10 years | -23.92% | -82.15% | +58.23% |
Current DrawdownCurrent decline from peak | -18.99% | -48.69% | +29.70% |
Average DrawdownAverage peak-to-trough decline | -14.80% | -40.56% | +25.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.27% | 30.55% | -28.28% |
Volatility
USTY.L vs. BTC-USD - Volatility Comparison
The current volatility for SPDR Bloomberg US Treasury Bond UCITS ETF (USTY.L) is 1.51%, while Bitcoin (BTC-USD) has a volatility of 8.86%. 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 | 1.51% | 8.86% | -7.35% |
Volatility (6M)Calculated over the trailing 6-month period | 4.76% | 34.09% | -29.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.29% | 34.66% | -28.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.69% | 43.80% | -35.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.26% | 55.37% | -46.11% |
Frequently Asked Questions
USTY.L and BTC-USD have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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