UTEN vs. JPYUSD=X
UTEN (US Treasury 10 Year Note ETF) is Government Bonds fund tracking the ICE BofA Current 10 Year US Treasury Index - Benchmark TR Gross, while JPYUSD=X (JPY/USD) is a currency. Over the past 3 years, UTEN returned 2.29%/yr vs -4.30%/yr for JPYUSD=X. At a 0.48 correlation, their price movements are largely independent.
Performance
UTEN vs. JPYUSD=X - Performance Comparison
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Returns By Period
In the year-to-date period, UTEN achieves a -0.49% return, which is significantly higher than JPYUSD=X's -2.12% return.
UTEN
- 1D
- -0.21%
- 1M
- 0.36%
- YTD
- -0.49%
- 6M
- -0.13%
- 1Y
- 3.90%
- 3Y*
- 2.29%
- 5Y*
- —
- 10Y*
- —
JPYUSD=X
- 1D
- 0.10%
- 1M
- -0.82%
- YTD
- -2.12%
- 6M
- -3.07%
- 1Y
- -9.99%
- 3Y*
- -4.30%
- 5Y*
- -7.22%
- 10Y*
- -4.19%
UTEN vs. JPYUSD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
UTEN US Treasury 10 Year Note ETF | -0.49% | 7.82% | -1.67% | 3.18% | -7.81% |
JPYUSD=X JPY/USD | -2.12% | 0.33% | -10.26% | -7.04% | 2.96% |
Correlation
The correlation between UTEN and JPYUSD=X is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | 0.48 |
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Return for Risk
UTEN vs. JPYUSD=X — Risk / Return Rank
UTEN
JPYUSD=X
UTEN vs. JPYUSD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 10 Year Note ETF (UTEN) and JPY/USD (JPYUSD=X). 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.
| UTEN | JPYUSD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.76 | ||
| Sortino ratioReturn per unit of downside risk | +2.61 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 0.82 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | -0.76 | +1.52 |
| Martin ratioReturn relative to average drawdown | 2.16 | -1.11 | +3.27 |
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Drawdowns
UTEN vs. JPYUSD=X - Drawdown Comparison
The maximum UTEN drawdown since its inception was -13.36%, smaller than the maximum JPYUSD=X drawdown of -52.96%. Use the drawdown chart below to compare losses from any high point for UTEN and JPYUSD=X.
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Drawdown Indicators
| UTEN | JPYUSD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.36% | -52.96% | +39.60% |
Max Drawdown (1Y)Largest decline over 1 year | -4.57% | -10.68% | +6.11% |
Max Drawdown (3Y)Largest decline over 3 years | -8.60% | -14.63% | +6.03% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.59% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.21% | — |
Current DrawdownCurrent decline from peak | -2.85% | -52.47% | +49.62% |
Average DrawdownAverage peak-to-trough decline | -4.81% | -26.92% | +22.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 6.18% | -4.58% |
Volatility
UTEN vs. JPYUSD=X - Volatility Comparison
US Treasury 10 Year Note ETF (UTEN) has a higher volatility of 1.79% compared to JPY/USD (JPYUSD=X) at 0.69%. This indicates that UTEN's price experiences larger fluctuations and is considered to be riskier than JPYUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UTEN | JPYUSD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 0.69% | +1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.74% | 5.48% | -1.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.18% | 7.50% | -2.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.04% | 9.56% | -1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.04% | 8.90% | -0.86% |
Frequently Asked Questions
UTEN and JPYUSD=X have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UTEN has higher volatility (1.79%) compared to JPYUSD=X (0.69%). In terms of maximum drawdown, UTEN dropped -13.36% vs JPYUSD=X's -52.96%.
UTEN currently has the higher Sharpe Ratio (0.67 vs -1.09), 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.
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