UTWY vs. BLTD

Last updated Aug 2, 2026

UTWY (F/m US Treasury 20 Year Bond ETF) and BLTD (Bluemonte Long Term Bond ETF) are both exchange-traded funds - UTWY is a Government Bonds fund tracking the Bloomberg US Treasury Bellwether 20 Year Index, while BLTD is a Long-Term Bond fund actively managed by Bluemonte. UTWY is passively managed, while BLTD is actively managed. Over the past year, UTWY returned -1.66% vs -0.23% for BLTD. Their 0.97 correlation means they have historically moved very closely together. UTWY charges 0.15%/yr vs 0.23%/yr for BLTD.

Performance

UTWY vs. BLTD - 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 Bluemonte Long Term Bond ETF (BLTD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UTWY achieves a -3.22% return, which is significantly lower than BLTD's -2.29% return.

UTWY

• 1D: -0.65%
• 1M: -3.22%
• 6M: -3.26%
• YTD: -3.22%
• 1Y: -1.66%
• 3Y*: -0.41%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -1.63%

BLTD

• 1D: -0.41%
• 1M: -3.04%
• 6M: -2.55%
• YTD: -2.29%
• 1Y: -0.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 1.25%

*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)
BLTD Bluemonte Long Term Bond ETF	$336.09K	$325.12K	$448.15K
UTWY F/m US Treasury 20 Year Bond ETF	$108.36K	$60.31K	$63.45K

UTWY vs. BLTD - Yearly Performance Comparison

	2026 (YTD)	2025
UTWY F/m US Treasury 20 Year Bond ETF	-3.22%	3.74%
BLTD Bluemonte Long Term Bond ETF	-2.29%	3.76%

Correlation

The correlation between UTWY and BLTD is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (All Time) Calculated using the full available price history since Jun 23, 2025	0.97

The correlation between UTWY and BLTD has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

UTWY vs. BLTD — Risk / Return Rank

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

UTWY

UTWY Risk / Return Rank: 10
UTWY Sharpe Ratio Rank: 10
UTWY Sortino Ratio Rank: 9
UTWY Omega Ratio Rank: 9
UTWY Calmar Ratio Rank: 10
UTWY Martin Ratio Rank: 10

BLTD

BLTD Risk / Return Rank: 13
BLTD Sharpe Ratio Rank: 13
BLTD Sortino Ratio Rank: 12
BLTD Omega Ratio Rank: 12
BLTD Calmar Ratio Rank: 14
BLTD Martin Ratio Rank: 14

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.

UTWY vs. BLTD - 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 Bluemonte Long Term Bond ETF (BLTD). 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.

	UTWY	BLTD	Difference
Sharpe ratio: Return per unit of total volatility	-0.05	0.13	-0.17
Sortino ratio: Return per unit of downside risk	-0.01	0.22	-0.23
Omega ratio: Gain probability vs. loss probability	1.00	1.03	-0.03
Calmar ratio: Return relative to maximum drawdown	-0.05	0.17	-0.22
Martin ratio: Return relative to average drawdown	-0.12	0.39	-0.51

UTWY vs. BLTD - Sharpe Ratio Comparison

The current UTWY Sharpe Ratio is -0.05, which is lower than the BLTD Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of UTWY and BLTD, 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

UTWY vs. BLTD - Drawdown Comparison

The maximum UTWY drawdown since its inception was -18.19%, which is greater than BLTD's maximum drawdown of -4.97%. Use the drawdown chart below to compare losses from any high point for UTWY and BLTD.

Drawdown Indicators

	UTWY	BLTD	Difference
Max Drawdown Largest peak-to-trough decline	-18.19%	-4.97%	-13.22%
Max Drawdown (1Y) Largest decline over 1 year	-6.72%	-4.97%	-1.75%
Max Drawdown (3Y) Largest decline over 3 years	-11.88%	—	—
Current Drawdown Current decline from peak	-8.47%	-4.97%	-3.50%
Average Drawdown Average peak-to-trough decline	-6.98%	-1.75%	-5.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	2.19%	+0.81%

Volatility

UTWY vs. BLTD - Volatility Comparison

F/m US Treasury 20 Year Bond ETF (UTWY) has a higher volatility of 2.09% compared to Bluemonte Long Term Bond ETF (BLTD) at 1.75%. This indicates that UTWY's price experiences larger fluctuations and is considered to be riskier than BLTD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTWY	BLTD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.09%	1.75%	+0.34%
Volatility (6M) Calculated over the trailing 6-month period	6.01%	5.21%	+0.80%
Volatility (1Y) Calculated over the trailing 1-year period	7.83%	6.74%	+1.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.97%	6.82%	+4.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.97%	6.82%	+4.15%

UTWY vs. BLTD - Expense Ratio Comparison

UTWY has a 0.15% expense ratio, which is lower than BLTD's 0.23% 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. BLTD - Dividend Comparison

UTWY's dividend yield for the trailing twelve months is around 5.27%, more than BLTD's 4.51% yield.

Position	TTM	2025	2024	2023
BLTD Bluemonte Long Term Bond ETF	4.51%	2.48%	0.00%	0.00%
UTWY F/m US Treasury 20 Year Bond ETF	4.85%	4.62%	4.56%	2.94%

Frequently Asked Questions

Can I hold both UTWY and BLTD in my portfolio?

With a correlation of 0.98, UTWY and BLTD 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 BLTD?

UTWY has higher volatility (2.09%) compared to BLTD (1.75%). In terms of maximum drawdown, UTWY dropped -18.19% vs BLTD's -4.97%.

Which ETF is better, UTWY or BLTD?

On 1-year performance, BLTD leads with -0.23% vs -1.66% for UTWY. On fees, UTWY is cheaper at 0.15% per year. On volatility, BLTD has been the lower-risk option at 1.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UTWY or BLTD?

Over the 1-year period, BLTD has performed better with a -0.23% return vs -1.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UTWY or BLTD?

UTWY is cheaper with a 0.15% expense ratio, compared with 0.23% for BLTD.

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

UTWY has the higher dividend yield at 4.85%, compared with 4.51% for BLTD.

What is the main difference between UTWY and BLTD?

UTWY is categorized as Government Bonds, while BLTD is Long-Term Bond. They also come from different issuers: F/m and Bluemonte. Their fees differ too: 0.15% for UTWY and 0.23% for BLTD.

Which has better risk-adjusted returns?

BLTD currently has the higher Sharpe Ratio (0.13 vs -0.05), 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.