UTWY vs. XHLF
UTWY (F/m US Treasury 20 Year Bond ETF) and XHLF (BondBloxx Bloomberg Six Month Target Duration US Treasury ETF) are both Government Bonds funds - UTWY tracks the Bloomberg US Treasury Bellwether 20 Year Index while XHLF tracks the Bloomberg US Treasury 6 Month Duration Index. Both are passively managed. Over the past 3 years, UTWY returned -0.41%/yr vs 4.56%/yr for XHLF. Their 0.18 correlation means their historical movements had little consistent relationship. UTWY charges 0.15%/yr vs 0.03%/yr for XHLF.
Performance
UTWY vs. XHLF - Performance Comparison
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Returns By Period
In the year-to-date period, UTWY achieves a -3.22% return, which is significantly lower than XHLF's 1.96% 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%
XHLF
- 1D
- 0.02%
- 1M
- 0.24%
- 6M
- 1.68%
- YTD
- 1.96%
- 1Y
- 3.72%
- 3Y*
- 4.56%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $108.36K | $60.31K | $63.45K | |
| $10.55M | $16.65M | $18.60M |
UTWY vs. XHLF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
UTWY F/m US Treasury 20 Year Bond ETF | -3.22% | 4.82% | -4.92% | -1.86% |
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF | 1.96% | 4.21% | 5.04% | 3.76% |
Correlation
The correlation between UTWY and XHLF is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.07 |
Correlation (3Y) Balances recent behavior with more history. | 0.16 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2023 | 0.18 |
The correlation between UTWY and XHLF shifts across timeframes, from 0.07 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UTWY vs. XHLF — Risk / Return Rank
UTWY
XHLF
UTWY vs. XHLF - 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 Bloomberg Six Month Target Duration US Treasury ETF (XHLF). 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 | XHLF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -11.96 | ||
| Sortino ratioReturn per unit of downside risk | -42.73 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 10.51 | -9.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 97.08 | -97.14 |
| Martin ratioReturn relative to average drawdown | -0.12 | 630.33 | -630.45 |
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Drawdowns
UTWY vs. XHLF - Drawdown Comparison
The maximum UTWY drawdown since its inception was -18.19%, which is greater than XHLF's maximum drawdown of -0.11%. Use the drawdown chart below to compare losses from any high point for UTWY and XHLF.
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Drawdown Indicators
| UTWY | XHLF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.19% | -0.11% | -18.08% |
Max Drawdown (1Y)Largest decline over 1 year | -6.72% | -0.04% | -6.68% |
Max Drawdown (3Y)Largest decline over 3 years | -11.88% | -0.06% | -11.82% |
Current DrawdownCurrent decline from peak | -8.47% | 0.00% | -8.47% |
Average DrawdownAverage peak-to-trough decline | -6.98% | 0.00% | -6.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 0.01% | +2.99% |
Volatility
UTWY vs. XHLF - Volatility Comparison
F/m US Treasury 20 Year Bond ETF (UTWY) has a higher volatility of 2.09% compared to BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF) at 0.10%. This indicates that UTWY's price experiences larger fluctuations and is considered to be riskier than XHLF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UTWY | XHLF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.09% | 0.10% | +1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 6.01% | 0.22% | +5.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.83% | 0.32% | +7.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.97% | 0.41% | +10.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.97% | 0.41% | +10.56% |
UTWY vs. XHLF - Expense Ratio Comparison
UTWY has a 0.15% expense ratio, which is higher than XHLF's 0.03% 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%.
Dividends
UTWY vs. XHLF - Dividend Comparison
UTWY's dividend yield for the trailing twelve months is around 5.27%, more than XHLF's 3.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
UTWY F/m US Treasury 20 Year Bond ETF | 4.85% | 4.62% | 4.56% | 2.94% | 0.00% |
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF | 3.49% | 3.98% | 4.96% | 4.50% | 0.86% |
Frequently Asked Questions
UTWY and XHLF have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UTWY has higher volatility (2.09%) compared to XHLF (0.10%). In terms of maximum drawdown, UTWY dropped -18.19% vs XHLF's -0.11%.
On 3-year performance, XHLF leads with 4.56% vs -0.41% for UTWY. On fees, XHLF is cheaper at 0.03% per year. On volatility, XHLF has been the lower-risk option at 0.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XHLF has performed better with a 4.56% return vs -0.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XHLF is cheaper with a 0.03% expense ratio, compared with 0.15% for UTWY.
UTWY has the higher dividend yield at 4.85%, compared with 3.49% for XHLF.
UTWY tracks Bloomberg US Treasury Bellwether 20 Year Index, while XHLF tracks Bloomberg US Treasury 6 Month Duration Index. They also come from different issuers: F/m and BondBloxx. Their fees differ too: 0.15% for UTWY and 0.03% for XHLF.
XHLF currently has the higher Sharpe Ratio (11.91 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.
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