UTEN vs. USVN

Last updated Jun 4, 2026

UTEN (US Treasury 10 Year Note ETF) and USVN (US Treasury 7 Year Note ETF) are both Government Bonds funds from US Benchmark Series - UTEN tracks the ICE BofA Current 10 Year US Treasury Index - Benchmark TR Gross while USVN tracks the ICE BofA Current 7-Year US Treasury Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, UTEN returned 1.86%/yr vs 2.70%/yr for USVN. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.15% expense ratio.

Performance

UTEN vs. USVN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Treasury 10 Year Note ETF (UTEN) and US Treasury 7 Year Note ETF (USVN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with UTEN having a -0.69% return and USVN slightly lower at -0.70%.

UTEN

• 1D: -0.26%
• 1M: 0.01%
• YTD: -0.69%
• 6M: -1.30%
• 1Y: 4.26%
• 3Y*: 1.86%
• 5Y*: —
• 10Y*: —

USVN

• 1D: -0.22%
• 1M: -0.18%
• YTD: -0.70%
• 6M: -1.08%
• 1Y: 3.56%
• 3Y*: 2.70%
• 5Y*: —
• 10Y*: —

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

UTEN vs. USVN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
UTEN US Treasury 10 Year Note ETF	-0.69%	7.82%	-1.67%	-0.28%
USVN US Treasury 7 Year Note ETF	-0.70%	7.66%	0.03%	0.67%

Correlation

The correlation between UTEN and USVN is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (All Time) Calculated using the full available price history since Mar 29, 2023	0.98

The correlation between UTEN and USVN has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

Return for Risk

UTEN vs. USVN — Risk / Return Rank

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

UTEN

UTEN Risk / Return Rank: 22
UTEN Sharpe Ratio Rank: 23
UTEN Sortino Ratio Rank: 22
UTEN Omega Ratio Rank: 21
UTEN Calmar Ratio Rank: 21
UTEN Martin Ratio Rank: 23

USVN

USVN Risk / Return Rank: 23
USVN Sharpe Ratio Rank: 25
USVN Sortino Ratio Rank: 24
USVN Omega Ratio Rank: 23
USVN Calmar Ratio Rank: 22
USVN Martin Ratio Rank: 23

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. USVN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Treasury 10 Year Note ETF (UTEN) and US Treasury 7 Year Note ETF (USVN). 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	USVN	Difference
Sharpe ratio: Return per unit of total volatility	0.82	0.84	-0.02
Sortino ratio: Return per unit of downside risk	1.23	1.26	-0.04
Omega ratio: Gain probability vs. loss probability	1.14	1.14	0.00
Calmar ratio: Return relative to maximum drawdown	0.94	0.97	-0.04
Martin ratio: Return relative to average drawdown	2.82	2.89	-0.06
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. USVN - Sharpe Ratio Comparison

The current UTEN Sharpe Ratio is 0.82, which is comparable to the USVN Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of UTEN and USVN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UTEN	USVN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.82	0.84	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.01	0.41	-0.40

Drawdowns

UTEN vs. USVN - Drawdown Comparison

The maximum UTEN drawdown since its inception was -13.36%, which is greater than USVN's maximum drawdown of -8.27%. Use the drawdown chart below to compare losses from any high point for UTEN and USVN.

Drawdown Indicators

	UTEN	USVN	Difference
Max Drawdown Largest peak-to-trough decline	-13.36%	-8.27%	-5.09%
Max Drawdown (1Y) Largest decline over 1 year	-4.57%	-3.68%	-0.89%
Max Drawdown (3Y) Largest decline over 3 years	-8.60%	-5.89%	-2.71%
Current Drawdown Current decline from peak	-3.05%	-2.67%	-0.38%
Average Drawdown Average peak-to-trough decline	-4.82%	-2.34%	-2.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.51%	1.24%	+0.27%

Volatility

UTEN vs. USVN - Volatility Comparison

US Treasury 10 Year Note ETF (UTEN) has a higher volatility of 1.71% compared to US Treasury 7 Year Note ETF (USVN) at 1.37%. This indicates that UTEN's price experiences larger fluctuations and is considered to be riskier than USVN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTEN	USVN	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.71%	1.37%	+0.34%
Volatility (6M) Calculated over the trailing 6-month period	3.65%	2.98%	+0.67%
Volatility (1Y) Calculated over the trailing 1-year period	5.24%	4.26%	+0.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.05%	5.79%	+2.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.05%	5.79%	+2.26%

UTEN vs. USVN - Expense Ratio Comparison

Both UTEN and USVN 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%.

Dividends

UTEN vs. USVN - Dividend Comparison

UTEN's dividend yield for the trailing twelve months is around 4.05%, more than USVN's 3.75% yield.

Position	TTM	2025	2024	2023	2022
USVN US Treasury 7 Year Note ETF	3.75%	3.81%	4.07%	2.91%	0.00%
UTEN US Treasury 10 Year Note ETF	4.05%	4.11%	4.13%	3.62%	1.39%

Frequently Asked Questions

Can I hold both UTEN and USVN in my portfolio?

With a correlation of 0.98, UTEN and USVN move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, UTEN or USVN?

UTEN has higher volatility (1.71%) compared to USVN (1.37%). In terms of maximum drawdown, UTEN dropped -13.36% vs USVN's -8.27%.

Which ETF is better, UTEN or USVN?

On 3-year performance, USVN leads with 2.70% vs 1.86% for UTEN. Both ETFs have the same 0.15% expense ratio. On volatility, USVN has been the lower-risk option at 1.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UTEN or USVN?

Over the 3-year period, USVN has performed better with a 2.70% return vs 1.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UTEN or USVN?

UTEN and USVN have the same expense ratio: 0.15% per year.

Which ETF pays a higher dividend yield, UTEN or USVN?

UTEN has the higher dividend yield at 4.05%, compared with 3.75% for USVN.

What is the main difference between UTEN and USVN?

UTEN tracks ICE BofA Current 10 Year US Treasury Index - Benchmark TR Gross, while USVN tracks ICE BofA Current 7-Year US Treasury Index - Benchmark TR Gross.

Which has better risk-adjusted returns?

USVN currently has the higher Sharpe Ratio (0.84 vs 0.82), 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.