VUTA.L vs. XUT3.L
VUTA.L (Vanguard USD Treasury Bond UCITS ETF Accumulating) and XUT3.L (Xtrackers II US Treasuries 1-3 UCITS ETF 1D) are both Government Bonds funds - VUTA.L tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index while XUT3.L tracks the iBoxx USD Treasuries 1-3 Index. Both are passively managed. Over the past 5 years, VUTA.L returned 0.65%/yr vs 2.96%/yr for XUT3.L. A 0.72 correlation means they provide meaningful diversification when combined. VUTA.L charges 0.05%/yr vs 0.06%/yr for XUT3.L.
Performance
VUTA.L vs. XUT3.L - Performance Comparison
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Different Trading Currencies
VUTA.L is traded in GBP, while XUT3.L is traded in USD. To make them comparable, the XUT3.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VUTA.L achieves a 0.03% return, which is significantly lower than XUT3.L's 0.95% return.
VUTA.L
- 1D
- 0.21%
- 1M
- 1.16%
- YTD
- 0.03%
- 6M
- -0.52%
- 1Y
- 4.50%
- 3Y*
- 0.21%
- 5Y*
- 0.65%
- 10Y*
- —
XUT3.L
- 1D
- 0.10%
- 1M
- 1.04%
- YTD
- 0.95%
- 6M
- 0.23%
- 1Y
- 4.46%
- 3Y*
- 1.56%
- 5Y*
- 2.96%
- 10Y*
- 2.49%
VUTA.L vs. XUT3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VUTA.L Vanguard USD Treasury Bond UCITS ETF Accumulating | 0.03% | -1.12% | 2.50% | -1.89% | -1.88% | -1.09% | 3.97% | 5.44% |
XUT3.L Xtrackers II US Treasuries 1-3 UCITS ETF 1D | 0.95% | -2.42% | 5.95% | -1.10% | 7.87% | 0.32% | -0.08% | 1.47% |
Correlation
The correlation between VUTA.L and XUT3.L is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2019 | 0.72 |
The correlation between VUTA.L and XUT3.L has been stable across timeframes, ranging from 0.70 to 0.72 - a consistent structural relationship.
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Return for Risk
VUTA.L vs. XUT3.L — Risk / Return Rank
VUTA.L
XUT3.L
VUTA.L vs. XUT3.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Treasury Bond UCITS ETF Accumulating (VUTA.L) and Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.L). 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.
| VUTA.L | XUT3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.12 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 0.85 | +0.01 |
| Martin ratioReturn relative to average drawdown | 2.08 | 2.31 | -0.23 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VUTA.L | XUT3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 0.69 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.36 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.27 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | 0.33 | -0.25 |
Drawdowns
VUTA.L vs. XUT3.L - Drawdown Comparison
The maximum VUTA.L drawdown since its inception was -23.40%, which is greater than XUT3.L's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for VUTA.L and XUT3.L.
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Drawdown Indicators
| VUTA.L | XUT3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.40% | -18.58% | -4.82% |
Max Drawdown (1Y)Largest decline over 1 year | -5.21% | -5.21% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -8.20% | -9.27% | +1.07% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | -16.72% | +0.55% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.58% | — |
Current DrawdownCurrent decline from peak | -18.49% | -8.02% | -10.47% |
Average DrawdownAverage peak-to-trough decline | -15.38% | -8.22% | -7.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 1.92% | +0.24% |
Volatility
VUTA.L vs. XUT3.L - Volatility Comparison
The current volatility for Vanguard USD Treasury Bond UCITS ETF Accumulating (VUTA.L) is 1.39%, while Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.L) has a volatility of 1.65%. This indicates that VUTA.L experiences smaller price fluctuations and is considered to be less risky than XUT3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VUTA.L | XUT3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 1.65% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 4.40% | 4.93% | -0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.98% | 6.41% | -0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.70% | 8.22% | +0.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.39% | 9.43% | -0.04% |
VUTA.L vs. XUT3.L - Expense Ratio Comparison
VUTA.L has a 0.05% expense ratio, which is lower than XUT3.L's 0.06% 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
VUTA.L vs. XUT3.L - Dividend Comparison
VUTA.L has not paid dividends to shareholders, while XUT3.L's dividend yield for the trailing twelve months is around 2.84%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
VUTA.L Vanguard USD Treasury Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XUT3.L Xtrackers II US Treasuries 1-3 UCITS ETF 1D | 2.84% | 2.70% | 2.35% | 1.80% | 1.00% | 2.89% | 2.43% | 1.16% | 1.00% | 0.69% |
Frequently Asked Questions
VUTA.L and XUT3.L have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUTA.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUTA.L is cheaper with a 0.05% expense ratio, compared with 0.06% for XUT3.L.
VUTA.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index, while XUT3.L tracks iBoxx USD Treasuries 1-3 Index. They also come from different issuers: Vanguard and Xtrackers. Their fees differ too: 0.05% for VUTA.L and 0.06% for XUT3.L.
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