UTEN vs. TRP
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 TRP (TC Energy Corporation) is a stock. Over the past 3 years, UTEN returned 2.29%/yr vs 30.95%/yr for TRP. At a 0.13 correlation, their price movements are largely independent.
Performance
UTEN vs. TRP - Performance Comparison
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Returns By Period
In the year-to-date period, UTEN achieves a -0.49% return, which is significantly lower than TRP's 27.41% return.
UTEN
- 1D
- -0.21%
- 1M
- 0.36%
- YTD
- -0.49%
- 6M
- -0.13%
- 1Y
- 3.90%
- 3Y*
- 2.29%
- 5Y*
- —
- 10Y*
- —
TRP
- 1D
- 0.12%
- 1M
- 1.69%
- YTD
- 27.41%
- 6M
- 29.66%
- 1Y
- 46.49%
- 3Y*
- 30.95%
- 5Y*
- 14.55%
- 10Y*
- 12.24%
UTEN vs. TRP - 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% |
TRP TC Energy Corporation | 27.41% | 24.02% | 39.88% | 6.09% | -15.00% |
Correlation
The correlation between UTEN and TRP is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | 0.13 |
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Return for Risk
UTEN vs. TRP — Risk / Return Rank
UTEN
TRP
UTEN vs. TRP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 10 Year Note ETF (UTEN) and TC Energy Corporation (TRP). 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 | TRP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.89 | ||
| Sortino ratioReturn per unit of downside risk | -2.75 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.42 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | 4.70 | -3.94 |
| Martin ratioReturn relative to average drawdown | 2.16 | 14.42 | -12.26 |
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Drawdowns
UTEN vs. TRP - Drawdown Comparison
The maximum UTEN drawdown since its inception was -13.36%, smaller than the maximum TRP drawdown of -62.52%. Use the drawdown chart below to compare losses from any high point for UTEN and TRP.
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Drawdown Indicators
| UTEN | TRP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.36% | -62.52% | +49.16% |
Max Drawdown (1Y)Largest decline over 1 year | -4.57% | -9.65% | +5.08% |
Max Drawdown (3Y)Largest decline over 3 years | -8.60% | -17.00% | +8.40% |
Max Drawdown (5Y)Largest decline over 5 years | — | -37.05% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.64% | — |
Current DrawdownCurrent decline from peak | -2.85% | -2.14% | -0.71% |
Average DrawdownAverage peak-to-trough decline | -4.81% | -11.72% | +6.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 3.26% | -1.66% |
Volatility
UTEN vs. TRP - Volatility Comparison
The current volatility for US Treasury 10 Year Note ETF (UTEN) is 1.79%, while TC Energy Corporation (TRP) has a volatility of 5.62%. This indicates that UTEN experiences smaller price fluctuations and is considered to be less risky than TRP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UTEN | TRP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 5.62% | -3.83% |
Volatility (6M)Calculated over the trailing 6-month period | 3.74% | 13.27% | -9.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.18% | 17.71% | -12.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.04% | 21.86% | -13.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.04% | 24.83% | -16.79% |
Dividends
UTEN vs. TRP - Dividend Comparison
UTEN's dividend yield for the trailing twelve months is around 4.04%, more than TRP's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TRP TC Energy Corporation | 3.58% | 4.45% | 5.93% | 7.73% | 8.52% | 5.94% | 5.92% | 4.25% | 5.85% | 5.14% | 5.01% | 6.38% |
UTEN US Treasury 10 Year Note ETF | 4.04% | 4.11% | 4.13% | 3.62% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UTEN and TRP have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TRP has higher volatility (5.62%) compared to UTEN (1.79%). In terms of maximum drawdown, UTEN dropped -13.36% vs TRP's -62.52%.
TRP currently has the higher Sharpe Ratio (2.56 vs 0.67), 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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