UTHY vs. UTRE

Last updated Aug 5, 2026

UTHY (US Treasury 30 Year Bond ETF) and UTRE (US Treasury 3 Year Note ETF) are both Government Bonds funds from US Benchmark Series - UTHY tracks the ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross while UTRE tracks the ICE BofA Current 3-Year US Treasury Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, UTHY returned -1.17%/yr vs 3.87%/yr for UTRE. Their 0.70 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.15% expense ratio.

Performance

UTHY vs. UTRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Treasury 30 Year Bond ETF (UTHY) and US Treasury 3 Year Note ETF (UTRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UTHY achieves a -2.44% return, which is significantly lower than UTRE's 0.28% return.

UTHY

• 1D: 0.77%
• 1M: -2.84%
• 6M: -2.13%
• YTD: -2.44%
• 1Y: -1.50%
• 3Y*: -1.17%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -3.02%

UTRE

• 1D: 0.18%
• 1M: 0.05%
• 6M: 0.23%
• YTD: 0.28%
• 1Y: 1.93%
• 3Y*: 3.87%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.34%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
UTHY US Treasury 30 Year Bond ETF	$5.77M	$5.13M	$5.93M
UTRE US Treasury 3 Year Note ETF	$202.72K	$193.49K	$272.87K

UTHY vs. UTRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
UTHY US Treasury 30 Year Bond ETF	-2.44%	3.47%	-8.07%	-2.77%
UTRE US Treasury 3 Year Note ETF	0.28%	5.68%	2.96%	2.34%

Correlation

The correlation between UTHY and UTRE is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.67
Correlation (3Y) Balances recent behavior with more history.	0.70
Correlation (All Time) Calculated using the full available price history since Mar 28, 2023	0.70

The correlation between UTHY and UTRE has been stable across timeframes, ranging from 0.67 to 0.70 - a consistent structural relationship.

Return for Risk

UTHY vs. UTRE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UTHY

UTHY Risk / Return Rank: 8
UTHY Sharpe Ratio Rank: 8
UTHY Sortino Ratio Rank: 7
UTHY Omega Ratio Rank: 7
UTHY Calmar Ratio Rank: 8
UTHY Martin Ratio Rank: 7

UTRE

UTRE Risk / Return Rank: 34
UTRE Sharpe Ratio Rank: 36
UTRE Sortino Ratio Rank: 34
UTRE Omega Ratio Rank: 32
UTRE Calmar Ratio Rank: 34
UTRE Martin Ratio Rank: 31

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UTHY vs. UTRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Treasury 30 Year Bond ETF (UTHY) and US Treasury 3 Year Note ETF (UTRE). 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.

	UTHY	UTRE	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	1.00	-1.17
Sortino ratio: Return per unit of downside risk	-0.18	1.46	-1.63
Omega ratio: Gain probability vs. loss probability	0.98	1.17	-0.19
Calmar ratio: Return relative to maximum drawdown	-0.20	1.34	-1.55
Martin ratio: Return relative to average drawdown	-0.44	3.15	-3.58

UTHY vs. UTRE - Sharpe Ratio Comparison

The current UTHY Sharpe Ratio is -0.17, which is lower than the UTRE Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of UTHY and UTRE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UTHY vs. UTRE - Drawdown Comparison

The maximum UTHY drawdown since its inception was -21.86%, which is greater than UTRE's maximum drawdown of -2.80%. Use the drawdown chart below to compare losses from any high point for UTHY and UTRE.

Drawdown Indicators

	UTHY	UTRE	Difference
Max Drawdown Largest peak-to-trough decline	-21.86%	-2.80%	-19.06%
Max Drawdown (1Y) Largest decline over 1 year	-7.41%	-1.44%	-5.97%
Max Drawdown (3Y) Largest decline over 3 years	-14.90%	-1.86%	-13.04%
Current Drawdown Current decline from peak	-13.30%	-0.71%	-12.59%
Average Drawdown Average peak-to-trough decline	-10.75%	-0.78%	-9.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	0.61%	+2.85%

Volatility

UTHY vs. UTRE - Volatility Comparison

US Treasury 30 Year Bond ETF (UTHY) has a higher volatility of 2.54% compared to US Treasury 3 Year Note ETF (UTRE) at 0.55%. This indicates that UTHY's price experiences larger fluctuations and is considered to be riskier than UTRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTHY	UTRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.54%	0.55%	+1.99%
Volatility (6M) Calculated over the trailing 6-month period	6.63%	1.58%	+5.05%
Volatility (1Y) Calculated over the trailing 1-year period	8.92%	1.93%	+6.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.46%	2.68%	+10.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.46%	2.68%	+10.78%

UTHY vs. UTRE - Expense Ratio Comparison

Both UTHY and UTRE 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

UTHY vs. UTRE - Dividend Comparison

UTHY's dividend yield for the trailing twelve months is around 4.81%, more than UTRE's 3.51% yield.

Position	TTM	2025	2024	2023
UTHY US Treasury 30 Year Bond ETF	4.81%	4.53%	4.58%	2.81%
UTRE US Treasury 3 Year Note ETF	3.51%	3.60%	4.01%	3.14%

Frequently Asked Questions

Can I hold both UTHY and UTRE in my portfolio?

UTHY and UTRE have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UTHY or UTRE?

UTHY has higher volatility (2.54%) compared to UTRE (0.55%). In terms of maximum drawdown, UTHY dropped -21.86% vs UTRE's -2.80%.

Which ETF is better, UTHY or UTRE?

On 3-year performance, UTRE leads with 3.87% vs -1.17% for UTHY. Both ETFs have the same 0.15% expense ratio. On volatility, UTRE has been the lower-risk option at 0.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UTHY or UTRE?

Over the 3-year period, UTRE has performed better with a 3.87% return vs -1.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UTHY or UTRE?

UTHY and UTRE have the same expense ratio: 0.15% per year.

Which ETF pays a higher dividend yield, UTHY or UTRE?

UTHY has the higher dividend yield at 4.81%, compared with 3.51% for UTRE.

What is the main difference between UTHY and UTRE?

UTHY tracks ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross, while UTRE tracks ICE BofA Current 3-Year US Treasury Index - Benchmark TR Gross.

Which has better risk-adjusted returns?

UTRE currently has the higher Sharpe Ratio (1.00 vs -0.17), 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.