USTY.L vs. BTC-USD
Compare and contrast key facts about SPDR Bloomberg US Treasury Bond UCITS ETF (USTY.L) and Bitcoin (BTC-USD).
USTY.L is a passively managed fund by State Street that tracks the performance of the Bloomberg US Government TR USD. It was launched on Jun 3, 2011.
Performance
USTY.L vs. BTC-USD - Performance Comparison
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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 | 2.27% | 0.10% | 3.36% | -1.37% | -1.66% | -0.86% | 4.57% | 4.20% | 7.22% | -6.43% |
BTC-USD Bitcoin | -22.28% | -12.95% | 125.81% | 140.73% | -59.81% | 60.91% | 292.68% | 86.71% | -73.15% | 1,284.82% |
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 2.27% return, which is significantly higher than BTC-USD's -20.87% return. Over the past 10 years, USTY.L has underperformed BTC-USD with an annualized return of 2.34%, while BTC-USD has yielded a comparatively higher 67.59% annualized return.
USTY.L
- 1D
- 0.62%
- 1M
- -0.44%
- YTD
- 2.27%
- 6M
- 2.78%
- 1Y
- 2.44%
- 3Y*
- 1.18%
- 5Y*
- 1.37%
- 10Y*
- 2.34%
BTC-USD
- 1D
- 0.00%
- 1M
- 0.44%
- YTD
- -20.87%
- 6M
- -42.75%
- 1Y
- -19.02%
- 3Y*
- 31.89%
- 5Y*
- 3.80%
- 10Y*
- 67.59%
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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 | 0.33 | -0.44 | +0.77 |
Sortino ratioReturn per unit of downside risk | 0.53 | -0.37 | +0.90 |
Omega ratioGain probability vs. loss probability | 1.06 | 0.96 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 0.38 | -1.08 | +1.46 |
Martin ratioReturn relative to average drawdown | 0.69 | -1.97 | +2.66 |
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 | 0.33 | -0.44 | +0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.07 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | 1.00 | -0.77 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 1.21 | -0.87 |
Correlation
The correlation between USTY.L and BTC-USD is 0.02, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
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% | -85.30% | +62.28% |
Max Drawdown (1Y)Largest decline over 1 year | -7.42% | -49.65% | +42.23% |
Max Drawdown (5Y)Largest decline over 5 years | -16.04% | -76.67% | +60.63% |
Max Drawdown (10Y)Largest decline over 10 years | -23.02% | -83.80% | +60.78% |
Current DrawdownCurrent decline from peak | -14.23% | -46.47% | +32.24% |
Average DrawdownAverage peak-to-trough decline | -11.98% | -42.00% | +30.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.10% | 27.75% | -23.65% |
Volatility
USTY.L vs. BTC-USD - Volatility Comparison
The current volatility for SPDR Bloomberg US Treasury Bond UCITS ETF (USTY.L) is 2.15%, while Bitcoin (BTC-USD) has a volatility of 13.30%. 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 | 2.15% | 13.30% | -11.15% |
Volatility (6M)Calculated over the trailing 6-month period | 4.57% | 34.98% | -30.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.26% | 36.08% | -28.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.79% | 46.46% | -37.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.05% | 56.09% | -46.04% |