UTWY vs. BBBL

Last updated Jun 4, 2026

UTWY (F/m US Treasury 20 Year Bond ETF) and BBBL (Bondbloxx BBB Rated 10+ Year Corporate Bond ETF) are both exchange-traded funds - UTWY is a Government Bonds fund tracking the Bloomberg US Treasury Bellwether 20 Year Index, while BBBL is a Long-Term Bond fund tracking the Bloomberg U.S. Corporate BBB 10+ Year Index - Benchmark TR Gross. Both are passively managed. Over the past year, UTWY returned 4.46% vs 7.90% for BBBL. Their correlation of 0.91 suggests significant overlap in exposure. UTWY charges 0.15%/yr vs 0.19%/yr for BBBL.

Performance

UTWY vs. BBBL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in F/m US Treasury 20 Year Bond ETF (UTWY) and Bondbloxx BBB Rated 10+ Year Corporate Bond ETF (BBBL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UTWY achieves a -0.64% return, which is significantly lower than BBBL's 1.22% return.

UTWY

• 1D: -0.35%
• 1M: 0.54%
• YTD: -0.64%
• 6M: -1.78%
• 1Y: 4.46%
• 3Y*: -0.54%
• 5Y*: —
• 10Y*: —

BBBL

• 1D: -0.39%
• 1M: 1.64%
• YTD: 1.22%
• 6M: 0.19%
• 1Y: 7.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UTWY vs. BBBL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UTWY F/m US Treasury 20 Year Bond ETF	-0.64%	4.82%	-1.79%
BBBL Bondbloxx BBB Rated 10+ Year Corporate Bond ETF	1.22%	7.02%	0.89%

Correlation

The correlation between UTWY and BBBL is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 26, 2024	0.91

The correlation between UTWY and BBBL has been stable across timeframes, ranging from 0.91 to 0.91 - a consistent structural relationship.

Return for Risk

UTWY vs. BBBL — Risk / Return Rank

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

UTWY

UTWY Risk / Return Rank: 17
UTWY Sharpe Ratio Rank: 18
UTWY Sortino Ratio Rank: 17
UTWY Omega Ratio Rank: 16
UTWY Calmar Ratio Rank: 17
UTWY Martin Ratio Rank: 18

BBBL

BBBL Risk / Return Rank: 28
BBBL Sharpe Ratio Rank: 28
BBBL Sortino Ratio Rank: 27
BBBL Omega Ratio Rank: 27
BBBL Calmar Ratio Rank: 30
BBBL Martin Ratio Rank: 27

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.

UTWY vs. BBBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for F/m US Treasury 20 Year Bond ETF (UTWY) and Bondbloxx BBB Rated 10+ Year Corporate Bond ETF (BBBL). 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.

	UTWY	BBBL	Difference
Sharpe ratio Return per unit of total volatility	0.55	1.01	-0.46
Sortino ratio Return per unit of downside risk	0.85	1.48	-0.63
Omega ratio Gain probability vs. loss probability	1.10	1.18	-0.08
Calmar ratio Return relative to maximum drawdown	0.67	1.46	-0.79
Martin ratio Return relative to average drawdown	1.81	3.65	-1.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UTWY vs. BBBL - Sharpe Ratio Comparison

The current UTWY Sharpe Ratio is 0.55, which is lower than the BBBL Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of UTWY and BBBL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UTWY	BBBL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.55	1.01	-0.46
Sharpe Ratio (All Time) Calculated using the full available price history	-0.08	0.39	-0.47

Drawdowns

UTWY vs. BBBL - Drawdown Comparison

The maximum UTWY drawdown since its inception was -18.19%, which is greater than BBBL's maximum drawdown of -9.43%. Use the drawdown chart below to compare losses from any high point for UTWY and BBBL.

Drawdown Indicators

	UTWY	BBBL	Difference
Max Drawdown Largest peak-to-trough decline	-18.19%	-9.43%	-8.76%
Max Drawdown (1Y) Largest decline over 1 year	-6.70%	-5.45%	-1.25%
Max Drawdown (3Y) Largest decline over 3 years	-14.98%	—	—
Current Drawdown Current decline from peak	-6.03%	-1.89%	-4.14%
Average Drawdown Average peak-to-trough decline	-7.03%	-3.31%	-3.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.47%	2.17%	+0.30%

Volatility

UTWY vs. BBBL - Volatility Comparison

F/m US Treasury 20 Year Bond ETF (UTWY) and Bondbloxx BBB Rated 10+ Year Corporate Bond ETF (BBBL) have volatilities of 2.50% and 2.45%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTWY	BBBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.50%	2.45%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	5.64%	5.75%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	8.10%	7.86%	+0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.11%	9.80%	+1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.11%	9.80%	+1.31%

UTWY vs. BBBL - Expense Ratio Comparison

UTWY has a 0.15% expense ratio, which is lower than BBBL's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

UTWY vs. BBBL - Dividend Comparison

UTWY's dividend yield for the trailing twelve months is around 4.69%, less than BBBL's 5.74% yield.

Position	TTM	2025	2024	2023
BBBL Bondbloxx BBB Rated 10+ Year Corporate Bond ETF	5.74%	5.77%	5.19%	0.00%
UTWY F/m US Treasury 20 Year Bond ETF	4.69%	4.62%	4.56%	2.94%

Frequently Asked Questions

Can I hold both UTWY and BBBL in my portfolio?

With a correlation of 0.91, UTWY and BBBL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, UTWY or BBBL?

UTWY has higher volatility (2.50%) compared to BBBL (2.45%). In terms of maximum drawdown, UTWY dropped -18.19% vs BBBL's -9.43%.

Which ETF is better, UTWY or BBBL?

On 1-year performance, BBBL leads with 7.90% vs 4.46% for UTWY. On fees, UTWY is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UTWY or BBBL?

Over the 1-year period, BBBL has performed better with a 7.90% return vs 4.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UTWY or BBBL?

UTWY is cheaper with a 0.15% expense ratio, compared with 0.19% for BBBL.

Which ETF pays a higher dividend yield, UTWY or BBBL?

BBBL has the higher dividend yield at 5.74%, compared with 4.69% for UTWY.

What is the main difference between UTWY and BBBL?

UTWY is categorized as Government Bonds, while BBBL is Long-Term Bond. UTWY tracks Bloomberg US Treasury Bellwether 20 Year Index, while BBBL tracks Bloomberg U.S. Corporate BBB 10+ Year Index - Benchmark TR Gross. They also come from different issuers: F/m Investments and BondBloxx. Their fees differ too: 0.15% for UTWY and 0.19% for BBBL.

Which has better risk-adjusted returns?

BBBL currently has the higher Sharpe Ratio (1.01 vs 0.55), 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.