UTWO vs. IBAT
UTWO (US Treasury 2 Year Note ETF) and IBAT (iShares Energy Storage & Materials ETF) are both exchange-traded funds - UTWO is a Government Bonds fund tracking the ICE BofA Current 2 Year US Treasury Index - Benchmark TR Gross, while IBAT is a Alternative Energy Equities fund tracking the STOXX Global Energy Storage and Materials. Both are passively managed. Over the past year, UTWO returned 3.13% vs 105.19% for IBAT. At a 0.03 correlation, their price movements are largely independent. UTWO charges 0.15%/yr vs 0.47%/yr for IBAT.
Performance
UTWO vs. IBAT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, UTWO achieves a 0.43% return, which is significantly lower than IBAT's 51.63% return.
UTWO
- 1D
- -0.04%
- 1M
- 0.18%
- YTD
- 0.43%
- 6M
- 0.68%
- 1Y
- 3.13%
- 3Y*
- 3.89%
- 5Y*
- —
- 10Y*
- —
IBAT
- 1D
- 1.07%
- 1M
- -4.06%
- YTD
- 51.63%
- 6M
- 46.54%
- 1Y
- 105.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UTWO vs. IBAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
UTWO US Treasury 2 Year Note ETF | 0.43% | 4.79% | 3.56% |
IBAT iShares Energy Storage & Materials ETF | 51.63% | 32.09% | -13.29% |
Correlation
The correlation between UTWO and IBAT is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024 | 0.03 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
UTWO vs. IBAT — Risk / Return Rank
UTWO
IBAT
UTWO vs. IBAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 2 Year Note ETF (UTWO) and iShares Energy Storage & Materials ETF (IBAT). 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.
| UTWO | IBAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.54 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.43 | 7.45 | -4.02 |
| Martin ratioReturn relative to average drawdown | 12.29 | 20.84 | -8.55 |
Loading charts...
Drawdowns
UTWO vs. IBAT - Drawdown Comparison
The maximum UTWO drawdown since its inception was -2.04%, smaller than the maximum IBAT drawdown of -28.26%. Use the drawdown chart below to compare losses from any high point for UTWO and IBAT.
Loading charts...
Drawdown Indicators
| UTWO | IBAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.04% | -28.26% | +26.22% |
Max Drawdown (1Y)Largest decline over 1 year | -0.90% | -13.71% | +12.81% |
Max Drawdown (3Y)Largest decline over 3 years | -1.08% | — | — |
Current DrawdownCurrent decline from peak | -0.28% | -8.98% | +8.70% |
Average DrawdownAverage peak-to-trough decline | -0.48% | -7.74% | +7.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.25% | 4.90% | -4.65% |
Volatility
UTWO vs. IBAT - Volatility Comparison
The current volatility for US Treasury 2 Year Note ETF (UTWO) is 0.40%, while iShares Energy Storage & Materials ETF (IBAT) has a volatility of 13.41%. This indicates that UTWO experiences smaller price fluctuations and is considered to be less risky than IBAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| UTWO | IBAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.40% | 13.41% | -13.01% |
Volatility (6M)Calculated over the trailing 6-month period | 0.94% | 22.68% | -21.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.33% | 28.18% | -26.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.07% | 24.58% | -22.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.07% | 24.58% | -22.51% |
UTWO vs. IBAT - Expense Ratio Comparison
UTWO has a 0.15% expense ratio, which is lower than IBAT's 0.47% expense ratio.
Dividends
UTWO vs. IBAT - Dividend Comparison
UTWO's dividend yield for the trailing twelve months is around 3.49%, more than IBAT's 0.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IBAT iShares Energy Storage & Materials ETF | 0.76% | 1.15% | 1.37% | 0.00% | 0.00% |
UTWO US Treasury 2 Year Note ETF | 3.49% | 3.63% | 4.22% | 4.39% | 1.22% |
Frequently Asked Questions
UTWO and IBAT have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBAT has higher volatility (13.41%) compared to UTWO (0.40%). In terms of maximum drawdown, UTWO dropped -2.04% vs IBAT's -28.26%.
On 1-year performance, IBAT leads with 105.19% vs 3.13% for UTWO. On fees, UTWO is cheaper at 0.15% per year. On volatility, UTWO has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBAT has performed better with a 105.19% return vs 3.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UTWO is cheaper with a 0.15% expense ratio, compared with 0.47% for IBAT.
UTWO has the higher dividend yield at 3.49%, compared with 0.76% for IBAT.
UTWO is categorized as Government Bonds, while IBAT is Alternative Energy Equities. UTWO tracks ICE BofA Current 2 Year US Treasury Index - Benchmark TR Gross, while IBAT tracks STOXX Global Energy Storage and Materials. They also come from different issuers: US Benchmark Series and iShares. Their fees differ too: 0.15% for UTWO and 0.47% for IBAT.
IBAT currently has the higher Sharpe Ratio (3.63 vs 2.31), 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.
Find the right allocation for UTWO and IBAT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer