UTRE vs. IBTE

Last updated Jun 4, 2026

UTRE (US Treasury 3 Year Note ETF) and IBTE (iShares iBonds Dec 2024 Term Treasury ETF) are both Government Bonds funds - UTRE tracks the ICE BofA Current 3-Year US Treasury Index - Benchmark TR Gross while IBTE tracks the ICE 2024 Maturity US Treasury Index. Both are passively managed. UTRE charges 0.15%/yr vs 0.07%/yr for IBTE.

Performance

UTRE vs. IBTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Treasury 3 Year Note ETF (UTRE) and iShares iBonds Dec 2024 Term Treasury ETF (IBTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

UTRE

• 1D: -0.08%
• 1M: -0.10%
• YTD: -0.09%
• 6M: 0.06%
• 1Y: 2.93%
• 3Y*: 3.64%
• 5Y*: —
• 10Y*: —

IBTE

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UTRE vs. IBTE - Yearly Performance Comparison

	2026 (YTD)
UTRE US Treasury 3 Year Note ETF	-0.40%
IBTE iShares iBonds Dec 2024 Term Treasury ETF	0.00%

Return for Risk

UTRE vs. IBTE — Risk / Return Rank

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

UTRE

UTRE Risk / Return Rank: 42
UTRE Sharpe Ratio Rank: 41
UTRE Sortino Ratio Rank: 46
UTRE Omega Ratio Rank: 41
UTRE Calmar Ratio Rank: 41
UTRE Martin Ratio Rank: 39

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.

UTRE vs. IBTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Treasury 3 Year Note ETF (UTRE) and iShares iBonds Dec 2024 Term Treasury ETF (IBTE). 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.

	UTRE	IBTE	Difference
Sharpe ratio: Return per unit of total volatility	1.46	—	—
Sortino ratio: Return per unit of downside risk	2.28	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	2.05	—	—
Martin ratio: Return relative to average drawdown	6.10	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	UTRE	IBTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.25	—	—

Drawdowns

UTRE vs. IBTE - Drawdown Comparison

The maximum UTRE drawdown since its inception was -2.80%, which is greater than IBTE's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for UTRE and IBTE.

Drawdown Indicators

	UTRE	IBTE	Difference
Max Drawdown Largest peak-to-trough decline	-2.80%	0.00%	-2.80%
Max Drawdown (1Y) Largest decline over 1 year	-1.44%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-1.86%	—	—
Current Drawdown Current decline from peak	-1.07%	0.00%	-1.07%
Average Drawdown Average peak-to-trough decline	-0.77%	0.00%	-0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	—	—

Volatility

Volatility by Period

	UTRE	IBTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.58%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.02%	0.00%	+2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.70%	0.00%	+2.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.70%	0.00%	+2.70%

UTRE vs. IBTE - Expense Ratio Comparison

UTRE has a 0.15% expense ratio, which is higher than IBTE's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

UTRE vs. IBTE - Dividend Comparison

UTRE's dividend yield for the trailing twelve months is around 3.50%, while IBTE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
IBTE iShares iBonds Dec 2024 Term Treasury ETF	0.00%	0.00%	0.00%	0.00%
UTRE US Treasury 3 Year Note ETF	3.50%	3.60%	4.01%	3.14%

Frequently Asked Questions

Which ETF is better, UTRE or IBTE?

On fees, IBTE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UTRE or IBTE?

IBTE is cheaper with a 0.07% expense ratio, compared with 0.15% for UTRE.

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

UTRE has the higher dividend yield at 3.50%, compared with 0.00% for IBTE.

What is the main difference between UTRE and IBTE?

UTRE tracks ICE BofA Current 3-Year US Treasury Index - Benchmark TR Gross, while IBTE tracks ICE 2024 Maturity US Treasury Index. They also come from different issuers: US Benchmark Series and iShares. Their fees differ too: 0.15% for UTRE and 0.07% for IBTE.