UTEN vs. IBGM.L

Last updated Apr 2, 2026

Compare and contrast key facts about US Treasury 10 Year Note ETF (UTEN) and iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.L).

UTEN and IBGM.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UTEN is a passively managed fund by US Benchmark Series that tracks the performance of the ICE BofA Current 10 Year US Treasury Index - Benchmark TR Gross. It was launched on Aug 8, 2022. IBGM.L is a passively managed fund by iShares that tracks the performance of the Bloomberg Euro Agg Govt TR EUR. It was launched on Mar 18, 2010. Both UTEN and IBGM.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

UTEN vs. IBGM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Treasury 10 Year Note ETF (UTEN) and iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.L). The values are adjusted to include any dividend payments, if applicable.

UTEN vs. IBGM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
UTEN US Treasury 10 Year Note ETF	-0.20%	7.82%	-1.67%	3.18%	-7.79%
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)	-1.99%	13.34%	-5.13%	495.63%	6.19%

Different Trading Currencies

UTEN is traded in USD, while IBGM.L is traded in GBP. To make them comparable, the IBGM.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, UTEN achieves a -0.20% return, which is significantly higher than IBGM.L's -1.99% return.

UTEN

• 1D: -0.14%
• 1M: -1.91%
• YTD: -0.20%
• 6M: 0.38%
• 1Y: 3.19%
• 3Y*: 1.60%
• 5Y*: —
• 10Y*: —

IBGM.L

• 1D: 0.77%
• 1M: -3.52%
• YTD: -1.99%
• 6M: -2.81%
• 1Y: 7.57%
• 3Y*: 81.93%
• 5Y*: 38.81%
• 10Y*: 30.23%

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

UTEN vs. IBGM.L - Expense Ratio Comparison

Both UTEN and IBGM.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

UTEN

US Treasury 10 Year Note ETF

IBGM.L

iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)

Return for Risk

UTEN vs. IBGM.L — Risk / Return Rank

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

UTEN

UTEN Risk / Return Rank: 28
UTEN Sharpe Ratio Rank: 28
UTEN Sortino Ratio Rank: 26
UTEN Omega Ratio Rank: 23
UTEN Calmar Ratio Rank: 34
UTEN Martin Ratio Rank: 28

IBGM.L

IBGM.L Risk / Return Rank: 30
IBGM.L Sharpe Ratio Rank: 34
IBGM.L Sortino Ratio Rank: 31
IBGM.L Omega Ratio Rank: 29
IBGM.L Calmar Ratio Rank: 30
IBGM.L Martin Ratio Rank: 25

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.

UTEN vs. IBGM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Treasury 10 Year Note ETF (UTEN) and iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.L). 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.

	UTEN	IBGM.L	Difference
Sharpe ratio Return per unit of total volatility	0.55	0.78	-0.23
Sortino ratio Return per unit of downside risk	0.81	1.17	-0.37
Omega ratio Gain probability vs. loss probability	1.09	1.14	-0.05
Calmar ratio Return relative to maximum drawdown	0.94	1.02	-0.08
Martin ratio Return relative to average drawdown	2.35	3.22	-0.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UTEN vs. IBGM.L - Sharpe Ratio Comparison

The current UTEN Sharpe Ratio is 0.55, which is comparable to the IBGM.L Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of UTEN and IBGM.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	UTEN	IBGM.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.55	0.78	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.20	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.22	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.19	-0.16

Correlation

The correlation between UTEN and IBGM.L is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

UTEN vs. IBGM.L - Dividend Comparison

UTEN's dividend yield for the trailing twelve months is around 4.07%, more than IBGM.L's 1.35% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UTEN US Treasury 10 Year Note ETF	4.07%	4.11%	4.13%	3.62%	1.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)	1.35%	1.33%	2.78%	79.03%	13.18%	0.00%	8.74%	63.75%	0.74%	0.74%	0.77%	1.07%

Drawdowns

UTEN vs. IBGM.L - Drawdown Comparison

The maximum UTEN drawdown since its inception was -13.36%, smaller than the maximum IBGM.L drawdown of -39.28%. Use the drawdown chart below to compare losses from any high point for UTEN and IBGM.L.

Drawdown Indicators

	UTEN	IBGM.L	Difference
Max Drawdown Largest peak-to-trough decline	-13.36%	-26.66%	+13.30%
Max Drawdown (1Y) Largest decline over 1 year	-3.87%	-5.69%	+1.82%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.27%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-26.66%	—
Current Drawdown Current decline from peak	-2.57%	-4.09%	+1.52%
Average Drawdown Average peak-to-trough decline	-4.92%	-4.98%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	2.23%	-0.69%

Volatility

UTEN vs. IBGM.L - Volatility Comparison

The current volatility for US Treasury 10 Year Note ETF (UTEN) is 2.09%, while iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.L) has a volatility of 3.77%. This indicates that UTEN experiences smaller price fluctuations and is considered to be less risky than IBGM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTEN	IBGM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.09%	3.77%	-1.68%
Volatility (6M) Calculated over the trailing 6-month period	3.55%	6.28%	-2.73%
Volatility (1Y) Calculated over the trailing 1-year period	5.88%	9.72%	-3.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.17%	194.19%	-186.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.17%	139.07%	-130.90%