UTRE vs. IBTE

Last updated Apr 1, 2026

Compare and contrast key facts about US Treasury 3 Year Note ETF (UTRE) and iShares iBonds Dec 2024 Term Treasury ETF (IBTE).

UTRE and IBTE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UTRE is a passively managed fund by US Benchmark Series that tracks the performance of the ICE BofA Current 3-Year US Treasury Index - Benchmark TR Gross. It was launched on Mar 27, 2023. IBTE is a passively managed fund by iShares that tracks the performance of the ICE 2024 Maturity US Treasury Index. It was launched on Feb 25, 2020. Both UTRE and IBTE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

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.

UTRE vs. IBTE - Yearly Performance Comparison

	2026 (YTD)
UTRE US Treasury 3 Year Note ETF	-0.18%
IBTE iShares iBonds Dec 2024 Term Treasury ETF	0.00%

Returns By Period

UTRE

• 1D: 0.12%
• 1M: -0.85%
• YTD: 0.13%
• 6M: 1.22%
• 1Y: 3.73%
• 3Y*: 3.57%
• 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 - 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%.

UTRE

US Treasury 3 Year Note ETF

IBTE

iShares iBonds Dec 2024 Term Treasury ETF

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: 84
UTRE Sharpe Ratio Rank: 83
UTRE Sortino Ratio Rank: 89
UTRE Omega Ratio Rank: 80
UTRE Calmar Ratio Rank: 85
UTRE Martin Ratio Rank: 81

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	1.64	—	—
Sortino ratio Return per unit of downside risk	2.52	—	—
Omega ratio Gain probability vs. loss probability	1.31	—	—
Calmar ratio Return relative to maximum drawdown	2.63	—	—
Martin ratio Return relative to average drawdown	9.11	—	—
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	1.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	—	—

Dividends

UTRE vs. IBTE - Dividend Comparison

UTRE's dividend yield for the trailing twelve months is around 3.81%, while IBTE has not paid dividends to shareholders.

	TTM	2025	2024	2023
UTRE US Treasury 3 Year Note ETF	3.81%	3.60%	4.01%	3.14%
IBTE iShares iBonds Dec 2024 Term Treasury ETF	0.00%	0.00%	0.00%	0.00%

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%	—	—
Current Drawdown Current decline from peak	-0.85%	0.00%	-0.85%
Average Drawdown Average peak-to-trough decline	-0.77%	0.00%	-0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.41%	—	—

Volatility

Volatility by Period

	UTRE	IBTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.82%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.36%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.28%	0.00%	+2.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.74%	0.00%	+2.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.74%	0.00%	+2.74%