UTRE vs. UTHY

Last updated Aug 4, 2026

UTRE (US Treasury 3 Year Note ETF) and UTHY (US Treasury 30 Year Bond ETF) are both Government Bonds funds from US Benchmark Series - UTRE tracks the ICE BofA Current 3-Year US Treasury Index - Benchmark TR Gross while UTHY tracks the ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, UTRE returned 3.81%/yr vs -1.43%/yr for UTHY. Their 0.70 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.15% expense ratio.

Performance

UTRE vs. UTHY - Performance Comparison

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

Returns By Period

In the year-to-date period, UTRE achieves a 0.10% return, which is significantly higher than UTHY's -3.19% return.

UTRE

• 1D: 0.06%
• 1M: -0.14%
• 6M: 0.07%
• YTD: 0.10%
• 1Y: 1.76%
• 3Y*: 3.81%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.29%

UTHY

• 1D: 0.34%
• 1M: -3.59%
• 6M: -2.64%
• YTD: -3.19%
• 1Y: -2.03%
• 3Y*: -1.43%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -3.25%

*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	$6.47M	$5.19M	$5.88M
UTRE US Treasury 3 Year Note ETF	$202.14K	$202.39K	$275.66K

UTRE vs. UTHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
UTRE US Treasury 3 Year Note ETF	0.10%	5.68%	2.96%	2.34%
UTHY US Treasury 30 Year Bond ETF	-3.19%	3.47%	-8.07%	-2.77%

Correlation

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

Return for Risk

UTRE vs. UTHY — Risk / Return Rank

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

UTRE

UTRE Risk / Return Rank: 33
UTRE Sharpe Ratio Rank: 35
UTRE Sortino Ratio Rank: 34
UTRE Omega Ratio Rank: 32
UTRE Calmar Ratio Rank: 34
UTRE Martin Ratio Rank: 31

UTHY

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

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.

UTRE vs. UTHY - Risk-Adjusted Trends Comparison

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

	UTRE	UTHY	Difference
Sharpe ratio: Return per unit of total volatility	0.92	-0.23	+1.15
Sortino ratio: Return per unit of downside risk	1.33	-0.26	+1.59
Omega ratio: Gain probability vs. loss probability	1.16	0.97	+0.19
Calmar ratio: Return relative to maximum drawdown	1.23	-0.28	+1.50
Martin ratio: Return relative to average drawdown	2.88	-0.59	+3.47

UTRE vs. UTHY - Sharpe Ratio Comparison

The current UTRE Sharpe Ratio is 0.92, which is higher than the UTHY Sharpe Ratio of -0.23. The chart below compares the historical Sharpe Ratios of UTRE and UTHY, 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

UTRE vs. UTHY - Drawdown Comparison

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

Drawdown Indicators

	UTRE	UTHY	Difference
Max Drawdown Largest peak-to-trough decline	-2.80%	-21.86%	+19.06%
Max Drawdown (1Y) Largest decline over 1 year	-1.44%	-7.41%	+5.97%
Max Drawdown (3Y) Largest decline over 3 years	-1.86%	-14.90%	+13.04%
Current Drawdown Current decline from peak	-0.89%	-13.97%	+13.08%
Average Drawdown Average peak-to-trough decline	-0.78%	-10.75%	+9.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	3.43%	-2.82%

Volatility

UTRE vs. UTHY - Volatility Comparison

The current volatility for US Treasury 3 Year Note ETF (UTRE) is 0.51%, while US Treasury 30 Year Bond ETF (UTHY) has a volatility of 2.36%. This indicates that UTRE experiences smaller price fluctuations and is considered to be less risky than UTHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTRE	UTHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.51%	2.36%	-1.85%
Volatility (6M) Calculated over the trailing 6-month period	1.57%	6.60%	-5.03%
Volatility (1Y) Calculated over the trailing 1-year period	1.93%	8.90%	-6.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.68%	13.46%	-10.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.68%	13.46%	-10.78%

UTRE vs. UTHY - Expense Ratio Comparison

Both UTRE and UTHY 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

UTRE vs. UTHY - Dividend Comparison

UTRE's dividend yield for the trailing twelve months is around 3.52%, less than UTHY's 4.84% yield.

Position	TTM	2025	2024	2023
UTHY US Treasury 30 Year Bond ETF	4.84%	4.53%	4.58%	2.81%
UTRE US Treasury 3 Year Note ETF	3.52%	3.60%	4.01%	3.14%

Frequently Asked Questions

Can I hold both UTRE and UTHY in my portfolio?

UTRE and UTHY 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, UTRE or UTHY?

UTHY has higher volatility (2.36%) compared to UTRE (0.51%). In terms of maximum drawdown, UTRE dropped -2.80% vs UTHY's -21.86%.

Which ETF is better, UTRE or UTHY?

On 3-year performance, UTRE leads with 3.81% vs -1.43% for UTHY. Both ETFs have the same 0.15% expense ratio. On volatility, UTRE has been the lower-risk option at 0.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UTRE or UTHY?

Over the 3-year period, UTRE has performed better with a 3.81% return vs -1.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UTRE or UTHY?

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

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

UTHY has the higher dividend yield at 4.84%, compared with 3.52% for UTRE.

What is the main difference between UTRE and UTHY?

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

Which has better risk-adjusted returns?

UTRE currently has the higher Sharpe Ratio (0.92 vs -0.23), 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.